Introducing Sany America Capital

Introducing Sany America Capital

December 7, 2018

By Dean Waters, President - SANY America Capital

I want to first thank everyone for the warm reception I received on my first day at SANY. As an introduction, I have over 25 years of diversified financial, operational and capital markets experience. I began my finance career with NationsBank, now Bank of America and rose through the ranks there culminating in being the Managing Director of Equity Syndications for the bank’s equipment finance division.

After Bank of America, I was a member of a team that formed an equipment finance division at GMAC Commercial Finance and at Synovus Bank. In addition to my equipment finance experience, I started an investment banking firm, 5Fold Capital. 5Fold Capital focused on raising capital for community banks and developing alternative lending platforms as well as providing a diversified suite of consulting services to banks and middle-market companies.

In my career, I have been fortunate to have structured and financed over $5 billion in transactions ranging from corporate and commercial aircraft, construction equipment, transportation assets and a broad range of general equipment as well as cross-border, renewable energy and project finance transactions. I have also been the Chief Financial Officer of a small-cap publicly traded company and currently hold series 62, 63, and 79 securities registrations. I graduated from East Carolina University with a BS in Economics and received my MBA with Honors from Wake Forest University.

Goals & Objectives

I am eagerly looking forward to meeting everyone and working toward making SANY America Capital a major sales partner of SANY. SANY America Capital’s primary mission is to assist in the sale of SANY equipment by providing impeccable customer service and low-cost financial solutions to SANY’s customer base, including dealers and end-users.

As of this writing (my third day), I have identified a number of key projects:

  • Organizational Review: This primarily involves ensuring we are compliant and licensed to conduct business as a lender and provider of capital in each of the states we currently do business in and plan to do business in. I hope to have this completed within two weeks.
  • Document Review/Creation: Legal review of our library of dealer and end user financing documents including both loan and lease and their accompanying schedules including forms corporate and personal guarantees. We want to ensure they complement and dovetail into our dealer documents. This project kicks off next week and I hope to have it completed by year-end.
  • Systems: We need to implement a credit application, credit review, document management, invoicing, portfolio management and reporting system. I have requested demonstrations of several turn-key systems and have requested proposals from several third-party vendors. I plan to review options and alternatives over the next few weeks and implement the chosen system in January 2019.
  • Funding Sources: I have begun to initiate dialogue with multiple outside providers of vendor financing programs. The first will be dealer floor planning options. We will be working with a number of banks to obtain proposals to take the financial and administrative burden from SANY by providing financing to new and current dealers. We will also be working to identify a financial partner(s) to rollout an online credit application and funding process for end-user buyers of SANY equipment. The goal is to provide SANY’s end customers a simple means of obtaining credit at the dealer within a few hours up to a $100,000 purchase level. Larger purchases will be initiated through the same “portal” but will take longer for approval. Our goal is to have larger approvals returned to the dealers within a few days for most transactions.
  • Develop Policies and Procedures: We will establish a set of policies and standard operating procedures for requesting financial support/credit from SANY America Capital. This includes establishing proper communication channels between the sales divisions, their managers and the capital group. We want to make sure our customers are ultimately happy with their purchase of SANY equipment and their experience with SANY Capital. We want to make sure there is a set of guidelines and rules in place, so no one overpromises the capabilities of SANY Capital and puts a dealer or end user relationship in jeopardy.

Teamwork

I welcome all of your input and ideas as we build out SANY America Capital. I need your market feedback on what our competitors are providing in terms of financing alternatives and options, so we can be on equal footing with our competition. I also plan to meet with each of you individually to get your ideas, suggestions, and needs from SANY America Capital. I cannot promise we can do everything, but we are going to certainly give it 110% within legal, ethical, and moral boundaries including taking risk where necessary and when we do, in a prudent manner.

Conclusion

I am very excited to join the SANY team and see a great deal of potential and opportunity in front of us. I look forward to working with each of you, listening to your ideas and your constructive criticism of our new direction. I can be reached at dwaters@sanyamerica.com for questions or additional information.

Dean Waters
President - SANY America Capital

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