Los Angeles, CA, June 22, 2012 --(PR.com
)-- EZ Lease Rentals originally co-founded by Mr. Shaw, a New York attorney and Partners, Steven & Vanna Lee, took the conceptual idea of guaranteeing rents for landlords and helping landlords manage their risk more effectively when dealing with non-traditional leassors that are credit challenged to a successful entrepreneurship operating Nationally in the USA since 2009.
Since their doors have opened, they have helped approximately 1200 leasers per year that are qualified based on "the income only model" that boasts the qualifying criteria set forth by FHA's underwriting guidelines for debt to income ratios and other income qualifiers. The business model charges a Risk Fee based on a Risk Model created by Mike Winters, retired actuarial analyst.
Nations Lease started to review the financial statements for EZ Lease Rentals in October of 2011 and recently funded the company with a $1.5M cash injection in exchange for 38% stake in the company. Due to the recent merger, the company boasts a new look, with a newly branded website under NationsLease.com and still maintains its domains under Ezleaserentals.com.
The parties are very excited with the new merger and the venture capital that will allow EZ Lease Rentals and Nations Lease to expand at a rate much faster than before.
Steven Lee states, "there are many other companies that try to emulate our business model in the past and even more recent companies that have come to play in the marketplace, but there is a learning cure to this business and lots of data to process to make decisioning on prospective applicants that can either make or break the company...Without the experience or knowledge of these factors, it could possibly run many of these new business emulating our business model to run bankrupt...we have been very fortunate to have the right players that sit on the board of our company that have the experience in risk management and insurance backgrounds to advise us and navigate our company in the right direction..."
Mike Winters states "The main reason for other companies that try to compete with EZ Lease Rentals, die out naturally, is due to the lack of reserves, and that they remain very underfunded, trying to self-fund their risk very much like a RRG model."
We hope to see more of Nations Lease and EZ Lease Rentals as they plan to roll out a similar program with vehicles as part of the expansion phase.
Vanna Lee states, "This would help car buyers in a similar fashion without having to subject consumers to predatory lending practices of the automotive finance market that has become so common with lower credited borrowers".