New Hires/Promotions in the Leasing Business
and Related Industries

Drew Daly was hired as Senior Business Development Manager, New Lane Finance, Philadelphia, Pennsyvania. Previously, he was Regional Sales Executive, Independent (August, 2024 - December, 2025); Financial Solution Specialist, Presidio (December, 2013 - July, 2024); Regional Sales Manager, Trilogy Leasing Co., LLC (November, 2012 - December, 2013); VP, Business Development, De Lage Landen (January, 2002 - August, 2006).  Full Bio:
https://www.linkedin.com/in/drew-daly-0328661b/details/experience/
https://www.linkedin.com/in/drew-daly-0328661b/

Adam DiCosola was hired as Vice President, Strategic Business Development, Vanguard, Malvern, Pennsylvania. He is located in Mission Viejo, California. Previously, he was Regional Sales & Program Manager, Commercial Vehicle Dealer Services, Balboa Capital  (March, 2018 - August, 2024); Lead Funding & Titling Coordinator, Partners Capital Group (May, 2017 - December, 2017); Senior Finance Consultant, Smarter Finance USA (October, 2016 - May, 2017); Sr. Account Manager, TopMark Funding LLC (May, 2013 - October, 2016). Full Bio:
https://www.linkedin.com/in/adam-dicosola-125b3a36/details/experience/
https://www.linkedin.com/in/adam-dicosola-125b3a36/

Jim Jenkins retires as Managing Director of Pathward, Sioux Falls, South Dakota, which he joined October, 2023. Previously, he was National Accountant Executive, Crestmark Equipment Finance (September, 2020 - January, 2026); Senior Vice President, BCI Capital (January, 2019 - June, 2020); Senior Vice President, PNC (April, 2017 - December, 2018). Full Bio:
https://www.linkedin.com/in/jim-jenkins-305a515/details/experience/
https://www.linkedin.com/in/jim-jenkins-305a515/

Elise Linn, CLFP, was promoted to Vice President of Oakmont Capital Services, West Chester, Pennsylvania. She is located in Albany, Minnesota. Previously, she was Sales Manager (November, 2020 - January, 2026); Business Development Officer (June, 2018 - Present , 7 Years, 8 months); Account Manager & Vendor Relations Supervisor, Stearns Bank (April, 2001 - April, 2018).
https://www.linkedin.com/in/elise-linn-clfp-76b709102/

Tyler Mergler was hired as Director, Capital Markets, Talonvest Capital, Newport Beach, California, where he is located. Previously, he was  Portfolio Manager, J.P. Morgan, (April, 2025 - January, 2026), starting as Underwriter (July, 2022 - April, 2025). Prior, he was at Better, Irvine, California, starting October, 2020 as Loan Analyst, promoted Loan Originator (May, 2021 - August, 2021), promoted Senior Loan Originator (August, 2021 -July, 2022). He joined Currency July, 2019, as Credit Analyst, promoted Credit Associate, Underwriter (December, 2019 - April, 2020). Full Bio:
https://www.linkedin.com/in/tyler-mergler/details/experience/
https://www.linkedin.com/in/tyler-mergler/

Cherie Milazzo was hired as Vice President, Business Development Officer, 1st Commercial Credit, Austin, Texas. She is living in Atlanta, Georgia. Previously, she was Director of Institutional Partnerships, National Business Capital (July, 2025 - December, 2025); Vice President, nFusion Capital, LLC (May, 2022 - April, 2025);  VP of Sales Southeast Region, TBS Capital Funding (May, 2021 - April, 2022); Business Development Officer (February, 2020 - April, 2021); Full Bio:
https://www.linkedin.com/in/cherie-milazzo-51985a9/details/experience/
https://www.linkedin.com/in/cherie-milazzo-51985a9/

Ryan Mullins was hired as Managing Director at Capital Southwest, Dallas, Texas, where he is located. Previously, he was Principal, Peak Rock Capital (April, 2024 - December, 2025); Principal, Atalaya Capital Management (May, 2022 - April, 2024); Principal, Elm Park Capital Management (March, 2016 - June, 2022); Assistant Vice President, Corporate Banking, Texas Capital (December, 2013 - March, 2016). Prior Bio:
https://www.linkedin.com/in/ryan-mullins-44a23115/details/experience/
https://www.linkedin.com/in/ryan-mullins-44a23115/

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##### Press Release ############

Washington, DC, – The Equipment Leasing & Finance Association (ELFA), the trade association representing the $1.3 trillion equipment finance industry, and the Certified Lease & Finance Professional (CLFP) Foundation, the organization responsible for the preeminent credential for equipment leasing and finance professionals, today announced the establishment of a formal affiliation. The move follows a vote by CLFP members in good standing who approved the affiliation agreement. ELFA and the CLFP Foundation initiated the affiliation to meet the ongoing talent needs of the equipment finance industry. 

“ELFA and the CLFP Foundation share a mission to ensure our workforce is well prepared, and I’m excited to formalize this affiliation,” said ELFA President & CEO Leigh Lytle. “Combining our capabilities to develop and support the people in our industry will positively amplify our collective impact and ensure the equipment finance sector has the standing it deserves as a key driver of the U.S. economy.”

“The response from the CLFP community to our affiliation with ELFA has been overwhelmingly positive, marked by pride, optimism, and thoughtful engagement,” said CLFP Foundation CEO Reid Raykovich, CLFP, CAE. “Aligning our organizations supports a single vision for a stronger, more unified equipment finance industry built on shared standards, shared values, and a shared commitment to professional excellence.”

Reid commented in LinkedIn, "This has been a long, thoughtful, and very intentional process—one that our membership overwhelmingly supported. I’m incredibly grateful to everyone who asked hard questions, shared perspectives, and ultimately helped guide this next chapter with such care.

And personally? I’m really looking forward to stepping down as Head of IT, HR, Legal, Facilities, and “other duties as assigned.” Onward—together.

The affiliation has several immediate and long-term goals. Initially ELFA and the CLFP Foundation will focus on continuity and integration regarding a smooth operational transition of staff and systems to ELFA, standing up the Transitional Board and the Certification Commission, ensuring all CLFPs retain their certification status without interruption, and maintaining program stability. 

Longer term goals include:

• Accreditation - Pursuing American National Standards Institute (ANSI) accreditation to further elevate the credential globally.
• Global expansion- Supporting growth beyond the U.S., including the upcoming Canadian CLFP and additional international partners.
• Workforce development - Creating clear pathways from student programs and university partnerships into certification and industry roles.
• Enhanced educational offerings - Leveraging shared expertise to develop advanced credentials, specialty designations, and more robust continuing education. 
• Diversity and access - Strengthening the pipeline through partnerships, scholarships, and inclusive programming.

Hear more about the ELFA/CLFP Foundation affiliation in this fireside chat with Lytle, Raykovich and CLFP Foundation Board President Candace Reinhart:

About ELFA
The Equipment Leasing & Finance Association (ELFA) represents financial services companies and manufacturers in the $1.3 trillion U.S. equipment finance sector. ELFA’s over 600 member companies provide essential financing that helps businesses acquire the equipment they need to operate and grow. Learn how equipment finance contributes to businesses’ success, U.S. economic growth, manufacturing and jobs at www.elfaonline.org.
 

About the CLFP
The CLFP designation represents the highest standard of knowledge and integrity in equipment finance, uniting professionals who are committed to advancing the industry through excellence and continued learning. There are currently nearly 1,800 Certified Lease & Finance Professionals and Associates located throughout the United States (including Puerto Rico), Canada, India, Pakistan, Africa, New Zealand, and Australia. For more information, please visit www.CLFPFoundation.org.

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NMEF Reports $1.8 Billion In 2025 Originations
Doubling Assets Under Management

North Mill Equipment Finance LLC (“NMEF”), an independent commercial equipment lender and lessor headquartered in Norwalk, Connecticut, reported $1.8 billion in total originations for 2025, including syndicated volume of $566 million.  The record originations resulted in a doubling of assets under management to $2.4 billion.

Full-year record originations were driven by a series of targeted strategic actions, including the acquisition of Pawnee Leasing, the purchase of the Midland Equipment Finance portfolio, and the origination and syndication of assets through a joint venture with Oaktree Capital Management focusing on Fair Market Value (FMV) leases. 

David Lee, Chairman and Chief Executive Officer of NMEF, commented, “2025 demonstrated the durability and scalability of our platform,” said “We continued to diversify origination sources, deepen our FMV and syndication capabilities, and integrated strategic acquisitions, all while maintaining disciplined underwriting and operational rigor.

“NMEF was able to execute on these transactions with speed, structural creativity, and offering certainty of close, reinforcing its position as a flexible and reliable capital partner”

Mark Bonanno, President and Chief Revenue Officer, said, “Syndication activity was a significant contributor to 2025 results, with approximately $566 million syndicated across multiple initiatives.

“Our syndication strategy is designed to deliver consistent execution and alignment for our partners. By combining origination expertise with thoughtful risk distribution, we’re able to support larger transactions, move with speed and certainty, and create durable value across the capital structure.” 

According to Tom Lyle, Chief Operating Officer, “Operationally, 2025 was defined by execution. We integrated acquisitions, optimized portfolios, and scaled infrastructure in line with a clear operating plan. The consistency of that execution underpinned both the doubling of assets under management and a record year for NMEF.”

Looking ahead, NMEF stated it will remain focused on disciplined growth, portfolio quality, and continued investment in scalable platforms to support long-term expansion.

About NMEF
NMEF is a premier lender working with third-party referral 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 medical, construction, franchise, technology, vocational, manufacturing, and material handling equipment.  NMEF is majority owned by an affiliate of InterVest Capital Partners and is headquartered in Norwalk, CT, with regional offices in Irvine, CA, Fort Collins, CO, Plymouth, MN, Voorhees NJ, and Murray, UT.  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.nmef.comand www.britecap.com.

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Help Wanted Ad
    Ameris Bank Equipment Finance

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Leasing News Advisor
Randy Haug

Randy Haug | EVP/ Co-Founder
LTi Technology Solutions
w: 402.493.3445 ext. 1014
Mobile: 402-981-3155
rhaug@ltisolutions.com
www.ltisolutions.com

Randy Haug is the EVP, Vice Chairman, and Co-Founder at LTi. He is responsible for overseeing the market direction and strategies of LTi and serves as an advisor to clients regarding their business issues and strategies. He has spent the majority of his career in the equipment finance industry, working and mentoring LTi’s Executive Management Group, Divisional Managers, Product Managers, Sales, Account Managers, and Marketing team. He also plays an active role in the company's Executive Board and Board of Directors. 

He is widely considered an industry thought leader and uses his consultative problem-solving and mentoring skills set to improve the lives of those at LTi as well as those in the industry with whom he collaborates with.

He also enjoys working with both of his sons in the business, who have become Subject Matter Experts and leaders in their own right. Randy also loves traveling, as well as  sharing time and experiences time with his family, friends, and  his  grandson, and  granddaughter.

Haug is a member of the Equipment Leasing and Finance Association Board of Directors.  Is the current board liaison for the Service Providers committee and is the board chair of the ELFA Membership Committee.  He has participated in a number of different industry associations, including as a member of the Equipment Leasing and Finance Association, (ELFA) Advocacy Advisory Committee; Executive Committee Board Member & Development Committee Chair for Equipment Leasing and Finance Foundation (ELFF); Board of Trustee to ELFF; Past President of the National Equipment and Finance Association (NEFA); and Past Chair and Co-Founder of the Chris Walker Education Committee of NEFA.

He was also honored as the 2024 The Equipment Leasing Person of the Year by Leasing News, and the 2024 Industry Advocate of the Year by the Monitor. He is an Honorary Ambassador for the Guild of Business Finance Professionals in the UK.   He has also participated in a number of different industry association committees in both the ELFA and NEFA associations and has been an industry speaker and panelist at a number of educational events within those associations. 

Randy is a servant leader and has sat on board level positions in many industry companies and organizations. Randy has been involved in the Equipment Finance industry for over 37 years while at LTI Technology Solutions, Inc. and its previously named LeaseTeam, Inc. company.

 

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Your Career Is a Series of Bold Conversations
By Ken Lubin, Managing Director, ZRG Partners

One of the biggest accelerators in any career isn’t talent, luck, or timing — it’s the willingness to have bold, uncomfortable, high-stakes conversations. These are the conversations most people avoid because they fear rejection, conflict, or not knowing how it will land. But the truth is, the conversations you avoid are often the very ones that would change everything.

Think about it: asking for the raise, telling your boss what you want next, calling the CEO when something truly matters, or admitting you’re ready for more responsibility. These are the moments that define careers. Most people stay quiet, hoping someone will notice their effort or reward their potential without them having to ask. But silence rarely moves anything forward. Your work may be excellent, but without communication, it stays invisible.

Bold conversations signal confidence, clarity, and ownership. They show that you’re intentional about your trajectory and willing to take responsibility for where you go next. Leaders pay attention to that. Companies reward it. And doors open for the people who are willing to speak up.
Courage accelerates careers. Silence slows them down.

If you want to grow, you can’t wait for perfect timing or for someone else to bring it up. You have to create the moment. You have to be willing to say the thing you’ve been putting off — not recklessly, but honestly and professionally. The worst that usually happens is you get clarity. The best that happens is everything shifts in your favor.

Have the conversation — especially the one you’re afraid of. That single moment of courage can change the entire direction of your career.

Ken Lubin
Managing Director, Executive Search Strategist
Building Elite Leadership Teams, High-Performance Advisor
ZRG Partners, LLC
Americas I EMEA I Asia Pacific
C: 508-733-4789
klubin@zrgpartners.com
https://www.linkedin.com/in/klubin

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Navitas Credit Corporation Strengthens Position as Market Leader, Achieves Record 2025 Originations, Surpassing $1 Billion Annual Milestone

GREENVILLE, S.C.,– Navitas Credit Corp., a leader in the equipment finance industry and a wholly owned subsidiary of United Community (NYSE: UCB), proudly announces a landmark year of performance, closing 2025 with historic origination results and surpassing $1 billion in annual originations for the first time in company history.

The milestone year reflected sustained momentum throughout 2025 and concluded with Q4 marking the strongest origination quarter in Navitas’ history. These results highlight the company’s continued strength as a preferred equipment finance lender, supported by disciplined execution, deep industry expertise, and ongoing investment in service and technology.

Mike Bruman Chief Executive Officer of Navitas Credit Corp, said, “2025 was a defining year for Navitas,” said. “Reaching and exceeding $1 billion in originations, and doing so while delivering our best year ever in 2025 is a direct result of the trust our partners place in us and the extraordinary commitment of our team. We don’t measure success by volume alone; we measure it by the strength of our partnerships, the consistency of our execution, and our ability to show up when our customers need us most.”

Michael Karman, Chief Sales Officer of Navitas, added, “Our record origination results in 2025 reflect the trust our customers and partners place in us and the relentless execution of our team. This milestone validates our strategy and positions us strongly for continued growth in the years ahead. Our goal is clear: to continue earning our place as the lender of choice by helping our partners win more business and grow with confidence.”

As Navitas enters 2026, the company remains focused on sustained growth, continued innovation, and deepening the partnerships that have defined its success, positioning Navitas to lead the next chapter of equipment finance.

Since its founding in 2008, Navitas has financed approximately $7 billion and supported over 100,000 businesses nationwide. With a team of more than 200 employees and a sales and service presence spanning eight locations across the U.S., Navitas combines national scale with local expertise. In February 2018, Navitas was acquired by United Community, one of the largest full-service financial institutions in the Southeast.

About Navitas Credit Corp.
Navitas, a leading name in equipment finance, is renowned for its unwavering commitment to customer service excellence. With a foundation grounded in integrity, Navitas specializes in offering expertly tailored equipment finance solutions, drawing on a comprehensive understanding of diverse industries and assets. As a wholly owned subsidiary of United Community, Navitas brings a wealth of financial resources and depth to each partnership, solidifying its position as a trusted advisor in the industry. Navitas caters to a wide spectrum of credit profiles and businesses at various levels of maturity. With over 15 years of experience, the company continues to evolve, delivering purpose-driven solutions and cultivating enduring partnerships based on trust. For more information and career opportunities, visit www.navitascredit.com.
 
About United Community
United Community Banks, Inc. (NYSE: UCB) is the financial holding company for United Community, a top 100 U.S. financial institution committed to building stronger communities and improving the financial health and well-being of its customers. United Community offers a full range of banking, mortgage and wealth management services. As of December 31, 2025, United Community Banks, Inc. had $28 billion in assets and operated 199 offices across Alabama, Florida, Georgia, North Carolina, South Carolina and Tennessee. The company also manages a nationally recognized SBA lending franchise and a national equipment finance subsidiary, extending its reach to businesses across the country. United is an 11-time winner of J.D. Power’s award for highest customer satisfaction among consumer banks in the Southeast and was named the most trusted bank in the region in 2025. The company has also been recognized nine consecutive years by American Banker as one of the “Best Banks to Work For.” In commercial banking, United earned five 2025 Greenwich Best Brand awards, including national honors for middle market satisfaction. Forbes has consistently named United among the World’s Best and America’s Best Banks. https://www.ucbi.com/

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Targeted Lending Co., LLC Expands Senior Credit Facility
with Wells Fargo Capital Finance to $125 Million

Targeted Lending Co., LLC, Buffalo, New York announces the expansion of its senior credit facility with Wells Fargo Capital Finance to $125 million, significantly increasing the company's capacity to support continued origination growth.

Michael Philbin, Chief Financial Officer, commented, "This expansion reflects the strength of our portfolio performance, disciplined underwriting, and the confidence Wells Fargo has in our business model,

 "The increased facility enhances our capital flexibility and positions us to scale responsibly a long side our Origination partners."

Stewart Hayes, Managing Director at Wells Fargo Capital Finance, commented, "We are pleased to expand our relationship with Targeted Lending and provide additional capital to support their continued momentum in the equipment finance market."

Targeted Lending Co., LLC specializes in small-ticket equipment financing, offering loans of up to $400,000 for essential business equipment and vehicles. Through its originator-centric equipment finance platform, the company delivers a commonsense credit strategy and a robust suite of technology-enabled tools that allow Originators to maintain control, efficiency, and transparency throughout the transaction lifecycle.

Brian Gallo, Chief Executive Officer of Targeted Lending Co., LLC, added, "The expansion of our facility to $125 million underscores both the demand we are seeing in the market and the effectiveness of our originator-centric equipment finance platform. We appreciate Wells Fargo's continued support as we address the industry's need for reliable, strategic funding solutions for small and mid-sized businesses."

For more information, interested parties and Originators may contact Targeted Lending Co., LLC at rhazard@targetedlending.com.

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Why I Became a CLP
Going Back to 2005

Most are retired, but many readers may remember those listed and why they became a CLP.
(Leasing News does current CLFPs, but has no list).

https://leasingnews.org/CLP/Index.htm

News Briefs

Almost all the added costs from Trump’s tariffs
    are being pushed on Americans
https://www.independent.co.uk/news/world/americas/us-politics/trump-tariffs-americans-pay-study-b2903467.html

Trump Links His Push for Greenland
    to Not Winning Nobel Peace Prize
https://www.nytimes.com/2026/01/19/world/europe/trump-norway-greenland-nobel.html?unlocked_article_code=1.FlA.F4DA.SzNT9_Yl2srQ&smid=url-share

Trump’s Letter to Norway Should Be the Last Straw
https://www.theatlantic.com/ideas/2026/01/trump-letter-to-norway/685676/

Trump has just handed Putin the prize he’s always wanted
https://www.telegraph.co.uk/news/2026/01/19/trump-handed-putin-prize-soviet-union-40-years/

Washington D.C. looks set to get
    America’s second Sphere
https://sherwood.news/business/washington-d-c-looks-set-to-get-americas-second-sphere/

Nurses are still America’s
    most trusted workers
https://sherwood.news/personal-finance/nurses-are-still-americas-most-trusted-workers/

Why Greenland Matters to U.S. Defense,
    in 7 Maps
https://www.wsj.com/world/europe/greenland-national-defense-maps-6f53c339?st=wrvDCG&reflink=desktopwebshare_permalink

 

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Trump Store to Close as Sales Falter,
    With No Election Battles Ahead
https://www.nytimes.com/2026/01/16/us/politics/trump-store-closing-philadelphia.html?unlocked_article_code=1.E1A.sfYt.WqvrGPxrKrcU

Kidnapping and $12 Billion Battle Hang Over
     Conoco Return to Venezuela
https://www.wsj.com/business/energy-oil/a-kidnapping-and-a-12-billion-battle-hang-over-a-conoco-return-to-venezuela-c449bf0e?mod=business_lead_pos2

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Sports Briefs---

49ers’ stars, including Kittle, optimistic about 2026 return
https://www.eastbaytimes.com/2026/01/19/49ers-stars-clear-out-lockers-including-optimistic-kittle-toward-healthier-2026/

Super Bowl LX travel guide:
   What to do within 10 miles of Levi’s Stadium
https://www.mercurynews.com/2026/01/19/levis-stadium-sports-travel-tourism/

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California News Briefs---

California wildfire survivors got a rude surprise
    that could hit more Americans
https://www.mercurynews.com/2026/01/16/la-fire-survivors-got-a-rude-surprise-that-could-hit-more-americans/

Tiny Earthquakes Reveal Hidden Faults Under
    Northern California
https://www.ucdavis.edu/news/tiny-earthquakes-reveal-hidden-faults-under-northern-california

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Gimme that Wine

 

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

Gallo, the world’s largest wine company, has three
     insanely large wineries in California
https://wineanorak.com/2026/01/17/gallo-the-worlds-largest-wine-company-has-three-insanely-large-wineries-in-california/

California’s almond waste could help clean up its
    winery wastewater
https://cen.acs.org/environment/pollution/Californias-almond-waste-help-clean/104/web/2026/01 

Santa Cruz Mountains region loses
   two winemaking legends
https://www.mercurynews.com/2026/01/18/santa-cruz-mountains-region-loses-two-winemaking-legends/