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Historic Networking Event for Black Equipment Finance Professionals Held at NEFA Finance Summit

March 29, 2023, 07:21 AM
Filed Under: Industry News

The Black Equipment Finance Network (BEFN) Inaugural Mixer was held at the NEFA Finance Summit on March 21, marking the group's first in-person event. Attended by over 20 group members and over 40 allies and sponsors from around the country and Canada, the event was a resounding success in bringing together more black equipment finance professionals and allies in one industry networking event than ever before.

The event's theme was "Forging Inclusive Excellence in Equipment Finance," highlighting the group's commitment to advancing diversity, equity and inclusion (DEI) within the industry. Sponsors for the event included Dedicated Financial GBC, Wells Fargo Capital, North Mill Capital, Wintrust Specialty Finance, NEFA, Amur Financial, Eastern Funding, VenSource Capital, and Quality Equipment Finance.

During the event, BEFN's President, George Parker, emphasized the group's mission to advance DEI and promote networking, relationship building, and collaboration among black equipment finance professionals and industry allies. He also discussed BEFN's approach, which is similar in many ways to the approach of NEFA and other major industry associations, emphasizing relationship building and collaborating to make industry advancements.

In attendance were members of the NEFA Board and representatives from the ELFA Equity Committee, the CLFP Foundation and Equipment Finance Cares.

Early BEFN plans include scholarships for college students pursuing studies in business and finance, a business exchange for originators and funding sources among group members, collaborating with CLFP Foundation, NEFA, and ELFA on DEI initiatives, a mentoring program for members, and pursuing and coordinating internships for black college students.

The Black Equipment Finance Network (BEFN) is a nonprofit organization focused on networking, promoting DEI, and increasing and elevating the participation of black equipment finance professionals in the equipment finance industry. The networking group consists of management-level equipment finance professionals able to benefit directly from the BEFN’s mission and allies seeking to collaborate. The BEFN has identified five areas of focus to pursue its mission, with a strong focus on diversity, equity, and inclusion advocacy, networking, mentoring, and recruiting. At present, there are approximately 65 members of the organization.

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