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C.H. Brown Co., LLC A PLATTE VALLEY COMPANY 20 W. Frontage Rd. • Wheatland, WY 82201 307-322-2545 • chbef.com
Inside
1 CHB’s COO and Business Development Director Share Goal-Setting Secrets 2 Meet Joshua and Joel! 2 Go Brandless — Their Unique Comeback Story 3 Chicken With Lemon Herb Sauce 3 CHB’s Did You Know 3 CHB Is Funding Another Vehicle Type! 4 We Have 2 Changes in Effect This Year!
2 Updates You Need to Remember in 2022 Don’t Forget These Changes!
Last month, we detailed a few changes coming to CHB’s forms and operations starting this year. Each of these changes was made because we believe these updates will provide greater service to our clients and the small-business leaders they represent, but we also understand that no matter how beneficial an update may be, change is difficult.
Similarly, we are providing brokers with a new terms sheet in 2022, which will accommodate the buy-sell method. Changes to Early Payoff
So, consider this your reminder!
To remain competitive and continue with industry standards, CHB is updating our early payoff premiums for those who pay the total of their accounts early. Starting this year, we will have graduated rates of 5%, 4%, and 3% in 12-month increments within the first three years of an active account or loan. This practice is very common within equipment financing and will allow our brokers to be more competitive for their clients. Our goal is to be as transparent and communicative as possible during these changes, and we hope this reminder was useful! (We recommend keeping this newsletter on hand and sharing it with your team, in case a reminder is needed.) As mentioned, if you have further questions or would like to learn more about how to best utilize this knowledge, please contact us. We’re happy to help you provide the best service to your clients.
We wanted to take this opportunity to re-introduce you to the new updates coming to CHB in January 2022. As always, our team is happy to answer any questions you, your team, or your applicants may have. We appreciate your understanding and cooperation! Updated Rate Offers One of the biggest changes in 2022 comes by way of an Equipment Finance Agreement (EFA). While the form will continue to be provided electronically, it will now incorporate the buy-sell rate method to increase lending transparency. Previously, we had limited flexibility with interest rates, which could leave the brokers we serve in a tight spot. Effective this year, our brokers will be able to negotiate with clients’ terms for more satisfactory results.
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