Meet MCI Financial Services

MCI's Financial Services representatives know your deepest financial secrets, your business goals and your balance sheet. But what do you know about them? Seasoned financial pros Mike Denny, Chris Park and Tony Pederson have a few things to say about the nature of the business, the art of matching MCI operators with prospective lenders, and more. Read on:

Tony Pederson has been with MCI Financial Services the longest — about seven years. Based in Minnesota, he handles accounts throughout the central, southwest and southeast U.S. as well as Canada. He's spent his entire career in financing, with plenty of experience in heavy equipment. One of the main differences between financing motor coaches and other types of equipment, he says, is that coach operators tend to be more payment-oriented.

As a regional account manager, he values the relationships he's built with customers, although he's modest in saying that sales representatives are still the face most operators most associate with MCI. Still, he says, he thinks it's important that operators know that their financial services representatives are their go-to guys when they have a financial issue.

The other part of his job is expanding MCI's relationships with lenders. "Motor coach financing is a real niche market," says Pederson, citing the price-point and usage difference between buses and trucks as well as construction equipment.  "Part of my job is to educate financial institutions about the industry."

Part of that education often includes travel to operators' sites to meet the owners and see first-hand what kind of business they run. "When I can actually see a customer's operation, I can paint a better picture when presenting them to a financial institution."

When he's not finding money for operators, he treasures his time with his wife and two young boys. Hockey, especially as played by the University of Minnesota, gets his thumbs-up as well.

Chris Park used to be on the other side — "buying paper," he says — at one of the lenders MCI uses. That was a little over six years ago. Today, the shoe is on the other foot. As MCI's regional account manager on the East and West Coasts, he feels he has a special understanding of what lenders are looking for, and what they will or won't accept. "I have a pretty good feel for it," says Park.

With rising costs for insurance, fuel and other business essentials, it can be a competitive market for motor-coach operators, says Park. On the plus side, a good piece of equipment, especially when it's properly financed, can have a very direct effect on an operator's revenue. He enjoys being able to serve his clients, and his real reward comes when he's able to help operators, especially some of the smaller ones, get their deals and grow their businesses. "This is their lifeblood," says Park. "These are huge purchases for them. I like being able to help them be successful."

Like Pederson, he travels the country for his customers, attending MCI Grand Tour stops and trade events as well as making in-person visits to operators in tandem with sales representatives. Based in Arizona, Park spends his off time with his wife and makes time for golf as well.

Mike Denny has been vice president of MCI Financial Services for about the past five years. As much as he enjoys getting to know motor-coach operators, he spends much of his time overseeing the operation and developing relationships with MCI's other customers — the dozen or so lending institutions that extend their terms to MCI operators. He believes that by educating lenders about the motor coach industry — its collateral practices, its markets and the dedicated operators who make it all work — MCI Financial Services is ultimately able to arrange for the most advantageous terms possible for its customers.

Like Pederson, he spent years at a finance company before coming to MCI. And like Pederson and Park, he likes dealing with the family of operators that depend on MCI equipment for their success. He believes one of the big differences between financing motor coaches and financing other equipment such as trucks and construction is the sheer size of the investment. "These are expensive pieces of equipment," says Denny. To accommodate customers, Denny and the MCI Financial Services team try to offer the widest range of financing flexibility as possible. Operators ideally find themselves with a wealth of lending and leasing options, along with the confidence that they're working with people who truly understand their businesses. "We want to make it easy for them," says Denny.

The FYI from MCI editorial staff values your feedback. Please e-mail any suggestions, comments, or ideas for future articles to fyi@mcicoach.com.