Pinnacle Closes Florida Office

Leasing News has confirmed that Pinnacle Business Finance has closed their office in Stuart, Florida at 11am, Florida time. In addition to long time leasing veteran and Pinnacle Senior Vice President Chuck Brazier, age 63, ten employees are now looking for work.

Due to Monday being a national holiday, Dr. Martin Luther King, Jr. Birthday, Leasing

News attempted to reach Pinnacle President Tim Cetto, Rancho Cordova, California, and Pinnacle Chairman/CEO Brent M. Hall, CLP, also president of the National Equipment Finance Association. Both were in a meeting. If further information is learned today, it most likely will appear in Tuesday edition due to the time factor.

Several sources said the closing of the office was a "money issue." If you have the funds, this is your marketplace. If you don't, it certainly is tightening up.

It appears from readers many were surprised, as well as funding has stopped and approvals are questionable at this time out of the Florida office. How that affects the two other Pinnacle office operations or whether they will be closing, or have closed, is not known at this time.

The same company that was the investor for Pentech Financial, Campbell, California, is reportedly the same for Pinnacle: Cambridge Business Partners. Leasing News has been told that they also have been having their problems.

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"Charles E. Brazier, CLP, Senior Vice President

Charles (Chuck) Brazier is responsible for the Company's wholesale and broker business including sales, marketing and credit. Additionally, Chuck monitors the daily activity of Pinnacle's marketing and operations staff in the Florida office.

"Prior to joining Pinnacle, Chuck was the Senior Vice President for Amano Business Credit, a Japanese-owned equipment leasing company. He oversaw all operations and business development for that division. Prior to Amano, he was the Senior Vice President of the wholesale division for First Sierra Financial, Inc. and played a key role in directing his division to achieve sales in excess of $500 million in one year. Chuck was also a senior officer for both Fleet Credit Corp. and Colonial Pacific Leasing. At Colonial Pacific Leasing, he was responsible for business development and lease operations.

"Chuck has been involved in the leasing industry for over 30 years with experience in lease management, credit analysis, lease processing and sales. A past president of UAEL, Chuck is widely recognized as an industry leader within the small ticket leasing sector and is a founding member of the CLP designation."

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