Started in 1968, BFEC is celebrating its 47th year in business! It all began with Sonny Monosson, known as a true pioneer in the venture leasing industry, who started over 14 companies. After receiving a BS in Electrical Engineering from MIT, Sonny went directly to Harvard Business School and went to work for his father in the Garment industry. After working with the factoring companies that factored their receivables, he realized he liked the business model and decided to start his own factoring company, Berkeley Finance Corporation in 1957. 

 

In the sixties, he started the first computerized finance company, which lead to many inquiries, and he sold his portfolio and started a consulting company with two partners. After consulting and writing many studies on the computer industry, he and one of his partners started American Used Computer, one of the first used computer dealers and along the way became an authorized DEC dealer. This led Sonny to become an “expert” on DEC and so, he sold his factoring portfolio and wrote newsletters MONOSSON on DEC and columns in many of the computer oriented publications of the time.

 

He soon realized that since he had a vehicle to sell computer equipment, he could lease equipment to risky credits, and if they didn’t succeed, he could simply take back the equipment and resell it. At the same time, American Computer Group leased communication equipment to Fortune 100 companies, while Boston Financial & Equity leased to the early stage and venture backed companies.  Sonny passed away in 2003 but he would be proud of his well-trained group of employees who have been working together for the last twenty-five years!