Remembering Steve Cissel
    Former VP Syndication, Peapack Capital

Steve Cissel, Vice President, Syndications at Peapack Capital, passed away peacefully at home on Thursday, June 19th, with his family by his side.

“Towards the end of his year-long fight against urothelial carcinoma, Steve asked if I would pass on a few words via LinkedIn to his extensive network of colleagues from his over 40+ year career, especially those he worked so closely with these past 25-30 years in the equipment leasing and financing industry.

“I sat with Steve a few weeks ago and, not surprisingly, his eyes lit up when describing how much he cared for his network of friends and colleagues - co-workers, customers, equipment manufacturers, banking partners - all of you.

“Anyone who knew Steve knows that one of his superpowers was building friendships and remembering small things about each person he connected with throughout his life. If he could have, he would have contacted each and every one of you personally to let you know how much you meant to him. He wanted to thank you all for your professionalism, guidance, support, and most of all, your love and friendship all these years. It meant the world to him.  And he meant the world to us.

A Celebration of his Life will be held July 28, 2025 at Braeloch Brewing, Kennett Square. PA, from 1-4 pm. 

- Rob Cissel, brother

Full Obituary

LinkedIn:
https://www.linkedin.com/in/steve-cissel-782027b/details/experience/

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Hires/Promotions in the Leasing Business
and Related Industries

Patty Magrin was hired as Enterprise Financing Sales Executive at Apple. Previously, she was National Sales Manager, Huntington Technology Finance (formerly Macquarie and CIT); Senior Account Executive, IBM Corporation (July, 1990 - June, 1997.)
https://www.linkedin.com/in/patty-magrin-7483983/

Christine (DeWitt) Murnamne was hired as Senior Manager of Business Development, Wes Ridge Copies, City of Industry, California. She is located in Palmyra, New Jersey. She was at Canon Financial Services, Mt. Laurel, New Jersey for 23 years, 4 months. Previously, she was Account Manager, Special Finance, Advanta Leasing (1996 - 2001)
https://www.linkedin.com/in/christine-murnane-22j/

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NMEF Achieves Largest Quarter and
First Half in Company History

[July 2, 2025, NORWALK, CT] – North Mill Equipment Finance, LLC (“NMEF”), a leading commercial equipment lessor located in Norwalk, Connecticut, today announced that it achieved the largest quarterly and first half origination volumes in its history. Originations hit a record $277 million in the second quarter, bringing first half 2025 production to an unprecedented $520 million, an increase of over 100% versus first half 2024.  Including the acquisition of Pawnee’s assets that went onto NMEF’s balance sheet on April 1, total origination volume for the second quarter was $607 million and for the first half of 2025 was $850 million.

For the first half of 2025, NMEF also reported a meaningful increase in credit quality, evidenced by a higher weighted average FICO of 745.  The largest equipment categories were medical (23%), franchise (13%), construction (12%), and IT (8%).  Long haul trucks comprised less than 2% of volume.  Corporation only transactions represented over 25% of volume.

David Lee, Chairman and CEO of NMEF, commented, “Reaching these new highs is a direct result of executing our strategy to diversify and scale. We’ve invested heavily in building a platform that supports more sophisticated transactions, and it’s gratifying to see that translate into stronger credit profiles, larger deals and further industry diversification.  Moreover, a majority of our dollar volume now consists of mid-ticket, fully underwritten transactions.”

Mark Bonanno, President and Chief Revenue Officer, added, “Our record growth is made possible by  the trusted long-term relationships with both our NMEF brokers and our Taycor vendor partners. By staying agile and solution-oriented, we’re able to meet their evolving needs and help drive mutual growth. We’re excited to keep this momentum going into the second half of the year.”

Tom Lyle, EVP and COO, stated, “In less than two years NMEF has doubled from $1 billion to $2 billion in assets under management.  The internal restructuring of our operations, reporting lines, and integration of Pawnee’s talented employee base, have  NMEF well positioned to continue scaling  to our goal of $5 billion by the end of the decade.”

About North Mill Equipment Finance (NMEF)
NMEF is a national, premier lender who works with third-party referral (TPR) sources to finance small to mid-ticket equipment commercial leases and loans ranging from $15,000 to $3,000,000 and up to $5,000,000 for investment grade opportunities.  NMEF accepts A – C credit qualities and finances transactions for many asset categories including but not limited to medical, construction, franchise, technology, vocational, manufacturing, renovation, janitorial and material handling equipment.  NMEF is majority owned by an affiliate of InterVest Capital Partners.  The company’s headquarters are in Norwalk, CT, with regional offices in Irvine, CA, Voorhees NJ, and Murray, UT.  For more information, visit www.nmef.com.  One of NMEF’s controlled affiliates, BriteCap Financial LLC, is a leading non-bank lender providing small businesses with fast, convenient financing alternatives such as working capital loans since 2003 from its main office in Las Vegas, NV.  For more information, visit www.britecap.com.

Lean Marketing Machine
By Scott Wheeler, CLFP

In the commercial equipment finance and leasing industry, success demands a lean, disciplined marketing machine. Regardless of economic conditions, companies must have a consistent and efficient engine driving new business development. Bigger isn’t necessarily better—what matters is that the machine generates quality assets aligned with the company's goals and risk appetite.

Originators play a pivotal role in keeping the machine running. They secure their place by consistently delivering results, functioning as collaborative team members, and acting as the grease that keeps the wheels turning. Top originators understand their direct contribution to bottom-line profitability. They know that high-performing assets fuel growth and momentum, while poor-performing assets clog operations and threaten the machine’s efficiency.

A well-oiled marketing machine begins with efficiency—and efficiency starts with the originator. Top performers:

• Focus their time on prequalified prospects that meet the company’s credit criteria.
• Submit complete, well-structured credit packages for swift and accurate adjudication.
• Clearly communicate the process to end-users and vendors, ensuring transparency and a smooth experience.

Sustaining a lean, productive marketing operation depends on every originator being part of the solution. In today’s market, only those who prioritize quality, discipline, and efficiency will keep the machine—and the company—moving forward marketing Machine.

At Amazon:
https://www.amazon.com/s?k=call+to+action+by+scott+wheeler&crid

Scott A. Wheeler, CLFP
Wheeler Business Consulting
1314 Marquis Ct.
Fallston, Maryland 21047
Phone: 410 877 0428
Fax: 410 877 8161
Email: scott@wheelerbusinessconsulting.com
Web: www.wheelerbusinessconsulting.com
Wheeler Business Consulting is working with individual originators and sales teams throughout the industry to ensure that they are well positioned in the market, capturing their fair share of business, and outperforming the competition. To schedule a one-on-one meeting contact Scott Wheeler at: scott@wheelerbusinessconsulting.com

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Leasing and Finance  Help Wanted
Balboa Capital
We Are Growing Our Senior Sales Team Now
Maxim Commercial Capital, LLC
Looking for Chief Operating Officer

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Wants to Get into Leasing
Career Crossroads---By Emily Fitzpatrick/RII

Question: I am currently a student, graduating next semester. My father used to be in the industry as a Sales Professional and I am interested in following in his footsteps. Do you have advice for someone like me on how to get into the industry?

Answer: Assuming you are interested in jumping right into a Sales role, you will need to approach a company that is open to hiring graduates (aka “greenies”); a company that is willing to train and provide mentorship. However, those are few and far between, as most require relationships and/or a book of business to bring to the table Day 1.

However, there are a handful of companies who are looking to hire graduates in order to build a sales team – seek them out! Most are small companies who have programs to train college students.

(There is an EVIDENT TALENT POOL GAP within this industry. We need more employers willing to take this approach in order to BUILD the next generation of good producers and Equipment Leasing/Finance Professionals.)

Another approach is to work your way up into a sales role. You may consider an operational-type role where companies are more willing (especially big companies and banks) to hire graduates and put them in “training,” e.g. a credit analysis/financial analysis role. Being bank-credit trained is excellent preparation for a business development role where credit plays a vital part of a successful deal/transaction (the ability to understand transaction risks/ramifications, etc… is a plus).

Another position to consider would be in a leasing sales support role, where you may potentially receive mentoring from an individual Sales Team Member and you will learn the ins and outs of lease transactions. 

During this time, take advantage of training programs offered by the company, attend industry conferences - go above and beyond. After a few years, after proving yourself as a valuable asset to the company, you can make the jump. Don’t forget to let your future career goals be known – speak up!

TIP: I always suggest that college-age Candidates take an internship within the industry they are ultimately seeking to enter. An internship coupled with education (also taking industry classes/training is a plus) will really give them a running start. 

Emily Fitzpatrick
Sr. Recruiter
Recruiters International, Inc.
Phone:  954-885-9241
Cell:  954-612-0567
emily@riirecruit.com
www.riicareer.com
Invite me to Connect on LinkedIn
www.linkedin.com/pub/emily-fitzpatrick/4/671/76
Also follow us on Twitter #RIIINFO
https://www.pinterest.com/recruitersinter/rii-career-services/

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Americans Didn't Let Inflation Spoil Their Appetite
Food and Hospitality

Despite three years of elevated inflation and a lot of uncertainty about the trajectory of the U.S. economy, Americans have yet to lose their appetite for dining (and drinking) out. According to the National Restaurant Association, restaurant industry sales are expected to reach $1.5 trillion this year - a new record for the industry that employs more than 15 million people. "Nine out of 10 people enjoy going to Restaurants and restaurant operators understand what it takes to keep that experience positive," Michelle Korsmo, president & CEO of the National Restaurant Association, said earlier this year. "Operators are adapting to meet today’s consumers’ wants and needs with an eye to economic pressures, regulatory changes and rising food and labor costs."

In fact, sales growth of restaurants, bars etc. has outpaced price increases quite significantly over the past five years. Since February 2020, food services and drinking places, as they are officially called, have seen (seasonally adjusted) monthly sales climb 45 percent. Meanwhile consumer prices for food away from home have risen by 32 percent and prices of alcoholic beverages away from home have risen by 22 percent.

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CLFP July 2025 Circular
Now Available

Circular Link: https://buff.ly/riCZJDB

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News Briefs

The Dollar Has Its Worst Start to a Year Since 1973
https://www.nytimes.com/2025/06/30/business/dollar-decline-trump.html

Saks Is at a Crossroads, Facing Creditor and
    Vendor Unease
https://www.nytimes.com/2025/07/01/business/saks-fifth-avenue-neiman-marcus-debt.html

Jaguar sales crater a shocking 98%
    after ‘woke’ rebrand, EV pivot
https://nypost.com/2025/07/01/business/jaguar-sales-plummet-after-botched-rebrand-ev-pivot/

Canada rescinds digital services tax
    after Trump cuts off trade talks
https://www.nbcnews.com/politics/trump-administration/canada-rescinds-digital-services-tax-trump-cuts-us-trade-talks-rcna215875

Deal with Beijing will speed China’s export of minerals
    to the US, treasury secretary says
https://apnews.com/article/china-trade-earths-tariffs-trump-463ae8d6ccba15b56c7d4d31d3fc42a1

Florida commercial real estate boom fueled by financial
    and tech executives relocating since pandemic
https://www.foxbusiness.com/lifestyle/florida-commercial-real-estate-boom-fueled-financial-tech-executives-relocating-since-pandemic

How California Regulated Itself
    Into an Energy Crisis
https://thebreakthrough.org/issues/energy/how-california-regulated-itself-into-an-energy-crisis

Caitlin Clark's new shoes sell out within minutes
    reselling on secondary market for over double
https://www.foxbusiness.com/sports/caitlin-clarks-new-shoes-sell-out-within-minutes-reselling-secondary-market-over-double

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Car sales plummet following pre-tariffs panic buying
    ‘The party is over’
https://nypost.com/2025/07/01/business/car-sales-plummet-following-pre-tariffs-panic-buying-the-party-is-over

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Sports Briefs---

Players, fans at Club World Cup coping with
  high temperatures as heat wave hits US
https://www.pressdemocrat.com/article/sports/players-fans-at-club-world-cup-coping-with-high-temperatures-as-heat-wave/

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California News Briefs---

California is still the world’s 4th-largest economy
https://www.mercurynews.com/2025/07/01/california-is-still-the-worlds-fourth-largest-economy/

Trump administration says it’s pulling 150 members
    of the National Guard from Los Angeles
https://www.sfchronicle.com/california/article/california-guard-troops-pulled-20403610.php

The Chan-Zuckerbergs stopped funding social causes.
     400 kids lost their school.
https://www.washingtonpost.com/technology/2025/06/29/mark-zuckerberg-priscilla-chan-school-closure/

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Gimme that Wine

 

http://www.youtube.com/watch?v=EJnQoi8DSE8

2024 Oregon Vineyard and Winery Census Report
https://www.winebusiness.com/news/article/304908

Celebrity chef's Wine Country hotel opens soon with
   house-milled  pastas, bread carts and a rooftop bar
https://www.sfchronicle.com/food/wine/article/charlie-palmer-appellation-healdsburg-opening-20394310.php