Our company
Cardiff Bank provides commercial finance solutions to institutional, middle-market and small businesses nationwide.

Whether your equipment needs are born out of necessity or careful cost-benefit analysis, new technology offers immediate benefits to industries facing global competition and rising operating costs. Without sufficient time to review multiple years of financial disclosure proving sufficient business net worth and enough current cash flow to cover new debt, the answer you already heard from both local and national bank underwriters is “no.” Business owners with credit deficiencies face challenges financing new business equipment sold by dealers, vendors and manufacturers. Business owners with spotless credit profiles may still face headwinds when brokers, private parties and used equipment are involved in equipment transactions. Non-traditional lenders like Cardiff Bank are here to offer a fast and simple approval process. We don't spend our time poring over your financial on transactions under $150,000.00 and your business strategy trumps balance sheet every time even on transactions up to $1 million.

We are here to help your industry take rapid advantage of discounts on equipment with a unique ability to finance both titled and non-titled transactions without age restrictions inclusive of services, delivery and other transaction costs.

We are here for you.

Cardiff Bank commits capital, people and insight to help our clients, partners and communities we serve to grow.
Our diverse management expertise assure our clients access to capital, market insights, and dedicated points of contact to create sustainable competitive advantage.
William S. Stern
Managing Director
Director since April 2004
Experience and qualifications
William's expertise in sales and organizational management allows the firm to meet ambitious growth targets year after year. William works to improve every aspect of the firm's sales strategy and brand identity through direct marketing innovation. William is constantly developing new products and services aimed at businesses to maintain a leadership position within our core markets. Before joining Cardiff Bank, William worked for TD Waterhouse, Balboa Capital and Fisher Investments. He gained broad exposure to commercial finance and investment management through key positions in client services, sales and direct marketing.

William holds BA degrees in Spanish Literature and Political Science from University of California, San Diego.

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Dean G. Lyulkin
Managing Director
Director since April 2007
Experience and qualifications
Dean is in charge of the firm's capital markets activities, data analytics, and human capital. Prior to joining Cardiff Bank, Dean was a shareholder and Group Vice President at Fisher Investments, a privately-held $40 billion asset management firm. Dean held several leadership positions in trading, capital markets research and direct marketing.

Dean holds a BA degree in Economics from University of California, San Diego.

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Leasing History
English leasing law dates back to the Statute of Wales, adopted in 1284. Cardiff Bank continues leasing in the Welsh tradition.
The history of leasing
Oil man J. Paul Getty, the world's first billionaire, coined the phrase "Buy that which appreciates, lease that which depreciates." Today, over 30% of all equipment acquired in the US is Acquired under a lease contract. This makes leasing the single largest form of external corporate finance in the country. Over 80% of companies - from small starts-ups to the Fortune 500 - lease some or all of their equipment with lease originations totaling almost $ 300 billion annually.
Ancient Babylonia and Greece
The earliest leases can be traced back as far as 5,000 years. Records establish the existence of a leasing company around 1800 BC in Babylonia. If an officer or soldier did not want to cultivate the land they received in return for service to the monarchy, he leased it to this company, the leasing specialist. The firm made lease payments to the soldier in advance and in turn leased the land to farmers.

Ancient Greece was the first to develop mine leases. Mines of various sizes in Athens belonged to the State and were leased through a single authority to mining companies for 3 to 7 years. Ancient Greece also pioneered the concept of bank leasing. The first bank lease agreement was signed in 370 BC for assets including the name of the bank, its deposits, offices, and staff.

United Kingdom
One of the first laws to refer to leasing in the UK was the Statute of Wales written in 1284. The statute used existing land laws as a legal framework for leasing immovable property like farming equipment. The arrival of the railways in the mid 19th century saw small enterprises investing their capital in coal wagons and in turn leasing them to mining companies. Leasing agreements often gave the lessee the right to purchase the equipment at expiration.

United States
Financial leasing in its contemporary form originated in the US. The first American leasing company was founded by Henry Shofeld in 1952. The company was established to service the railway transportation industry. Europe soon followed with leasing companies of its own in the late 1950s and early 1960s.
Advances in technology created a need for enterprises to renovate their capital assets more often. Leasing enabled businesses to acquire assets on more profitable terms than simply purchasing equipment. The benevolent interest rate environment of the 1950s worked in concert with more favorable tax treatment to drastically increase the number of leases underwritten across the globe.

Emerging markets
Asia, South America and Africa did not embrace leasing until the 1970s and 1980s. The states of the former Soviet Union, including Russia, began to develop leasing after the fall of communism in the early 1990s.

The future
Aristotle said that "true wealth lies not in the ownership of property but in the right to use it." A business does not have to own property to make a profit. It is often enough to have the right to use this property over a certain period of time.

We expect leasing to be profitable for all parties involved for centuries to come. The leasing mechanism channels investment into assets that allow businesses to start production quickly and generate sufficient income to cover lease payments. Firms like Cardiff Bank are uniquely positioned to dominate this arena. Meanwhile, traditional banks are left to invest their capital in borrowers whose decisions they cannot easily direct and control.