It’s a huge accomplishment, an Omaha-based business turns 20 this year; and Phil Lieber, the founder of 2nd-Byte, has taken us back to where it all started, P&L Capital. P&L Capital wrote its first true computer Master Lease Agreement more than 23 years ago!
Now, you might be asking what a true computer master lease is? When a customer has a need to rotate technology in order to keep the most up-to-date technology at the hands of their employees, businesses will often times put the computers on a three-year rotation.
A Master Lease Agreement is attractive to businesses for many reasons, one is because the out-of-pocket costs for the leased equipment is usually at or below the cash price of the computer equipment. Another reason a master lease is beneficial is because the lessor, such as P&L, takes the residual risk in the remarketing of equipment.
As P&L Capital was getting closer to the end of our first three-year rotation of equipment with our first major client, we had to figure out what to do with the equipment, where we would store it, and how we would resell the equipment once it was returned by the client. P&L Capital decided it was best to separate into a new business, and 2nd-Byte was born.
History shows that Phil wasn’t very good at being creative when it came to naming the company, thus the name P&L Capital and P&L Technology. Over a beer, he came up with the name 2nd-Byte, which later became 2nd-Byte.com.
Twenty years ago, 2nd-Byte made their first big purchase. Phil says his kids, his partner’s kids, and his wife all helped unload what seemed like hundreds of CRT monitors (yes, CRTs!). They had CRTs up and down the hallways. Here they are two decades years later, they have moved on from CRT monitors and their mission of supporting P&L Capital hasn’t changed, but just about everything else has. They have just launched their new website, with real-time inventory and even entered the world of digital marketing!
Thank you, Omaha, for supporting 2nd-Byte for the last 20 years, here’s to 20 more!
If you are a purchasing or IT manager and are in the market for high-quality, low-cost, off-lease refurbished computer equipment for your home or business, contact us at 2nd-Byte and we would love to help you out!
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