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New Hires/Promotions in the Leasing Business
and Related Industries

Lyndon "Lyn” Elam was hired by Maxim Commercial Capital, Los Angeles, as Chief Operating Officer. He is located in Irvine, California. "He is responsible for executing the company’s operating strategy and leading its originations and portfolio management teams." Previously at United Auto Credit Corporation, starting April, 2020, Senior Vice President Operations, promoted January, 2013, Chief Operating Officer, promoted Senior Advisor (February, 2025 - May, 2025); GM/Vice President Sales, Marketing & Operations, Yamaha Motor Corporation, USA, Yamaha Motor Corporation, USA (September, 2015 - December, 2019); Vice President, Business Analytics  & Strategic Initiatives Care Credit, from Synchony Financial (formerly GE Capital) (November, 2012 - September, 2015). He was at Wells Fargo for 6 years, 5 months, and HSBC for 2 years, 4 months. Full Bio:
https://www.linkedin.com/in/lyelam/details/experience/
https://www.linkedin.com/in/lyelam/

Giorigiana Rodríguez Garro was hired as Business Development Executive, Financial Solutions, Ingram Micro, San Jose, Costa Rica. She is located in Costa Rica. Previously, she was Area Finance Manager, Central America & Caribbean, Dell Technologies, Costa Rica (October, 2018 - August, 2025); Corporate Banking Credit Manager, Banco General, Costa Rica (January, 2014 - October, 2018); Relationship Manager en Baca Commercial Citi, Costa Rica (May, 2012 - January, 2014):
Full Bio:
https://www.linkedin.com/in/giorgianarodriguezgarro/details/experience/
https://www.linkedin.com/in/giorgianarodriguezgarro/

Ike Long was hired as Senior Finance Specialist, Navitas Credit Corp. He is located in Spring City, Pennsylvania. Previously, he was Senior Vice President, Ascentium Capital (September, 2013 - September, 2025); National Sales Manager, Office Technology, Leaf Commercial Capital, Inc. (June, 2012 - September, 2013); Business Development Officer, Summit Funding Group, Inc. (September, 2010 - May, 2012); Regional Sales Manager, De Lage Landen (1994 - 2010).
https://www.linkedin.com/in/ike-long-39ba8225/

Anthony Perettine was hired as President, Peapack Capital Corporation, a wholly owned subsidiary of Peapack Private Bank & Trust. He is located in West Islip, New York. Previously, he was EVP, Division Head, National 3rd Party Intermediaries & Vendor Businesses, Flagstar Bank (March, 2023 - August, 2025); Executive Vice President, Managing Director, Signature Financial (March, 2012 - March, 2023); SVP - Managing Director, National Indirect & Direct Businesses, Capital One Bank (November, 1999 - February, 2012). Full Bio:
https://www.linkedin.com/in/anthony-perettine-14023645/details/experience/
https://www.linkedin.com/in/anthony-perettine-14023645/

Wendy Pratt was hire as Vice President of Sales Strategy at Agora Data, Inc.,  "to lead the strategic expansion of the FIG division, which supports independent finance companies with limited access to traditional capital markets." She is located in Greensboro, NC. Previously, she was Senior Specialist, Business Operations, Resilience (November, 2022 - September, 2025); Senior Administrative Assistant and Office Manager, (April, 2022 – November, 2022). She joined The HIggins Group as Office Manager, and Assistant to the CEO (June, 2004), promoted Director of Operations (January, 2013, promoted Vice President of Operations (January, 2016 - November,2021). She joined ManageComp, Inc. October, 1996, Assistant Underwriter, promoted January, 2000, Underwriter, promoted Sales and Marketing Coordinator (July, 2000 - December, 2003); Underwriting Assistant, ECS, Exton, PA (May, 1994 - September, 1996).
https://www.linkedin.com/in/wendi-pratt-78698b4/

Sylwia Rzepka was promoted to Senior Compensation Analyst, Mitsubishi HC Capital America, Inc. She is located in Chicago, Illinois. She joined Mitsubishi April, 2023, Vendor FP&A Analyst. Previously, she was at ENGS Commercial Finance CO, starting November, 2017, Documentation Analyst, promoted January, 2019, Program Specialist, promoted Financial Analyst (September, 2019 - Appeal, 2023).  Relationship Banking Specialist II, MB Financial Bank (August, 2015 - October,2017). Full Bio:
https://www.linkedin.com/in/sylwia-rzepka-52596b68/details/experience/
https://www.linkedin.com/in/sylwia-rzepka-52596b68/

Katie Thornett was hired as Managing Director, Healthcare Finance, Wingspire Capital, New York, New York, where she is also located. Previously,  she was at Oxford Finance, LLC, starting 2012, starting as Business Development Officer, promoted Senior Director (December, 2018 - August, 2025); She  joined GE Capital 2007 as Assistant Vice President, Healthcare Financial Services (2007 - 2011), promoted Assistant Vice President, Corporate Finance (2011 - July, 2012); Strategic Development Internship, The Hartford, 2006, less than a year.
https://www.linkedin.com/in/katherine-thornett-28893819/

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NFIB Says Credit Eases and Equipment Leads Spending
Based on Small and Independent Trends
by Bob Coleman, Coleman Report

The August 2025 NFIB Small Business Economic Trends report shows Main Street holding steady as summer turns to fall. Entrepreneurs are feeling more upbeat about sales prospects, and overall confidence improved compared to earlier in the year. At the same time, uncertainty is beginning to ease, giving small firms a little more breathing room as they plan ahead.

Credit Market Conditions: No Major Red Flags
Access to credit remains generally available, with fewer owners reporting difficulties obtaining financing. Loan costs ticked down modestly, providing some relief after years of rising rates. Fewer small businesses are borrowing on a regular basis, which suggests many are cautious about taking on new debt in the current environment. Overall, lenders remain open, but demand for credit is muted.

Capital Spending: Equipment Still Leads
Small firms continue to invest, though activity remains below historical averages. Equipment purchases are still the most common type of capital spending, followed by vehicles and facility improvements. Looking ahead, plans for new investment remain soft, as business owners weigh costs against uncertain sales growth.

Top Concerns: Labor Quality and Taxes
When asked to identify their biggest challenges, business owners once again pointed to finding qualified workers. Taxes remain the second most frequently cited issue, followed by government regulations. Inflation concerns have eased somewhat, but higher input costs are still a nagging problem for some sectors.

Overall Optimism: A Firm Footing
Despite challenges, small business owners report feeling better about the overall health of their operations. More describe their businesses as being in good shape, and expectations for stronger sales are helping to lift spirits. While hiring plans remain modest and investment spending is restrained, Main Street sentiment is trending in the right direction.

Full Report: NFIB Small Business Economic Trends -  Based on Small and Independent Trends:
https://www.nfib.com/wp-content/uploads/2025/09/NFIB-SBET-Report-August-2025.pdf

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MoneyThumb and deBanked Release Survey Findings
on Fraud Trends Among Small Business Funders

Smaller Funders Are Facing Higher Fraud Rates;
Document Falsification Emerges as Top Concern

A new study conducted by MoneyThumb, a leader in automated document evaluation and fraud detection solutions, in partnership with deBanked, a leading publication for MCAs, reveals an alarming trend in the small business lending sector: fraud is not only on the rise but is significantly impacting the cost of doing business, especially for smaller funders operating in an increasingly uncertain economic environment.

As small businesses continue to grapple with supply chain pressures, shifting tariffs, and a volatile economic outlook, lenders are seeing a direct correlation between economic strain and elevated fraud risk. When margins are tight and working capital is harder to secure, the incentive for applicants to falsify documents, or even attempt synthetic identity fraud increases. Most of this fraud cannot be detected visually, making traditional underwriting processes insufficient on their own. This hidden risk doesn’t just weigh on the funder, it ultimately raises the cost of loans for all borrowers, including honest small business owners.

The survey polled a broad range of Merchant Cash Advance (MCA) providers, funders, and alternative lenders to assess how often they encounter tampered documents or fraudulent information during the application process. Respondents ranged from small firms processing fewer than 10 applications per month to large institutions handling over 500.

Key findings include:

• Nearly 54% of respondents report that 2–10% of the applications they receive contain fraud.
• Nearly 60% are “very concerned” about fraud.
• A staggering 90% cite document falsification or forgery as the most pressing issue.
• More than half of respondents say fraud has increased year over year.
• Smaller funders are disproportionately affected: funders processing fewer than 100 financial applications per month report fraud in 11.8% of applications—more than double the rate reported by larger funders (5.6%).
• 88% of funders are still reviewing documents manually, which wastes countless hours per month, is prone to human error and increases labor costs.

Ryan Campbell, CEO of MoneyThumb, said, “Fraud is evolving just as quickly as the economy is shifting. In a time when rising tariffs and inflationary pressure are already squeezing small businesses, fraudulent applications add another layer of risk that funders can’t afford to ignore.”


Sean Murray, Founder of deBanked, added: “Relying solely on manual review simply isn’t sustainable. The funders who embrace intelligent automation will not only reduce losses but also serve more businesses—faster and more fairly.”

Up to seven percent of revenue, billions of dollars and thousands of hours are lost every year due to fraudulent applications in the lending industry. MoneyThumb’s Thumbprint® patented technology leverages AI and advanced algorithms to identify subtle discrepancies and inconsistencies that can’t be seen manually. Over the last year, Thumbprint® has reviewed more than 10M statements and identified over 500,000 fraudulent or altered documents.

As macroeconomic uncertainty continues into Q4 2025, the report underscores the need for technology-driven solutions that can scale fraud detection without sacrificing underwriting speed or accuracy.

About MoneyThumb
MoneyThumb is an advanced automation software solution that streamlines the lending underwriting process by converting bank statements instantly into actionable data. By exponentially increasing efficiency, accuracy and the detection of fraud – MoneyThumb empowers lenders and accountants to make faster, more informed and accurate decisions. MoneyThumb is headquartered in Encinitas, California, and serves customers globally. For more information visit www.moneythumb.com.

About deBanked
deBanked is a leading publication covering non-bank finance, alternative lending, and fintech since 2010. It is a trusted source for insights, news, and trends in the MCA and small business lending space. https://debanked.com/

 

 

Leasing and Finance  Help Wanted
Balboa Capital
We Are Growing Our Senior Sales Team Now

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Sales and Credit Realignment Drives Results
By Scott Wheeler, CLFP

In the commercial equipment finance and leasing industry, the most profitable organizations are those where professionals understand every facet of the financing process—from origination to credit analysis, from customer engagement to portfolio management. The strongest originators grasp credit fundamentals, and the best credit analysts appreciate the nuances of the sales cycle. When these disciplines operate in harmony, the results are transformative.

During a recent visit to a major industry participant, I encountered a seasoned sales team and an experienced credit staff—both deeply knowledgeable and committed. Yet, despite their individual strengths, a hardened wall had formed between the departments. Communication had eroded over time, reduced to short emails and transactional exchanges. Collaboration was minimal. Trust was strained.

To address his disconnect, I facilitated a meeting between three top originators and three top credit analysts— the staff, not managers. Each participant came prepared to share:

• Their daily challenges
• How the market and company had evolved over the past 2–3 years
• Their view of the greatest opportunities ahead
• Suggestions for streamlining processes and improving customer service through mutual support

What unfolded was more than a meeting—it was a reconnection. One participant described it as “two old friends reconvening after a long hiatus.” The dialogue was candid, constructive, and energizing. Several of the ideas generated were bold and earned immediate approval from senior management. These weren’t just theoretical improvements—they were actionable initiatives designed to:

• Enhance interdepartmental communication
• Reduce friction in deal flow
• Improve customer experience
• Align sales and credit priorities around shared goals

The outcome was stronger bridges, renewed collaboration, and measurable business results.

Survive - Thrive - Lead

Scott A. Wheeler, CLFP
Wheeler Business Consulting
1314 Marquis Ct.
Fallston, Maryland 21047
Phone: 410 877 0428
Fax: 410 877 8161
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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What Tom McCurnin Learned from 40 Years
in Banking and Leasing  - Sixth and final part

Before Tom retired, he wrote 13 California Department of Business Oversight cases where the broker or lessor was fined for not being licensed, several of which were from out of state. (1) They were highly read.

In wrapping up, he also wrote advice/memoirs. As editor, I chose the sequence, saving what I thought was the best advice for last. - Kit Menkin, editor

Part 6
Understand the Regulations - Appoint a Compliance Officer
I don’t want to dive into politics, but since the election of Donald Trump, the present administration has abandoned federal regulations for financial institutions. At first blush, this sounded like a great idea, but there were unintended consequences. The abject failure of the Consumer Financial Protection Bureau (CFPB) to regulate the explosion in finance companies has caused two states (California and New York) to undertake their own regulation of the financial services industry.  California has a comprehensive licensing statute with interest rate disclosure, to be further developed this year by the California Department of Business Oversight. New Jersey to follow. New York may have interest rate disclosure by 2020. 

The California Department of Business Oversight (DBO) has enacted licensing requirements and interest rate disclosure.  It is aggressively policing its requirements as a direct result of the federal government backing out of the space. With licensing, there are a number of other regulations which must be understood by licensees. 

▪ Appoint a Compliance Officer. Most financial institutions have appointed a person to be in charge of regulatory compliance. It is this person’s job to make sure that the company complies with all regulations. Of course, this person should consult appropriate lawyers who know regulations and should attend conferences on the subject. 
▪ Timely File Annual Reports. In California, these reports are due in March. If you’ve moved or not received your reminder card, you still have to renew your license. There may be significant fines for letting the license expire. 
▪ Deals Done Without a License Will Subject You To Fines. If your company has done California loans without a license, or while the license was expired, expect to be fined. The fine can be as large as $2,500, but is usually significantly less. Nevertheless doing a couple hundred deals will probably warrant a five figure fine. 
▪ Understand the Regulations. Along with your license, the DBO has enacted about 20 pages of regulations.  They are not difficult to read and understand. Somebody at your company should read them and report back to management. The current trip wires for the DBO are paying commissions to unlicensed brokers or if you are a broker, receiving commissions while not being licensed. 
▪ Understand the Regulations of Other States. Most good leasing attorneys can conduct a 50 state survey of licensing requirements. Some states have no lending license requirements, except for small dollar, less than $10,000 commercial loans. Other states have that threshold at $5,000. Your compliance officer should know all the requirements for loans and leases made by your company in the states you operate. 

Published: April 8, 2019

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America’s Bubble Culture Prevents Healing
By Dale Kluga

I have tried my best to avoid making societal comments about our country and prefer to focus on fiscal economic issues to avoid internet combat and all the wasteful fatigue that it solicits. 

However, I don’t know about you but, I’m totally sick and tired of our country’s divisive, childish national bickering. 

Seriously, just look down at ourselves from space in our millions of righteous, toxic private bubbles of continuous poisonous gas arguments and it’s amazing that we get anything done at all as a country.  It’s no wonder why our society has turned so violent against each other. 

The better question is what if we figured out how to humanly communicate face to face in real time without audio/visual technology interference of any type? A type of communication Time Machine. Technology tools have accelerated our emotional demise, despite the addictive benefits of convenience and time savings. 

Enough is enough and only as a common group of reasonable people can we overcome the evil motivations perpetuated by both the self serving media and irrational politicians. They are playing us all like a fiddle and using social media technology to ratchet up the heat for their own personal gain. While we destroy ourselves. 

Isn’t this obvious? 

It’s getting us nowhere despite common false belief that each side has everything to lose perpetuated by selfish politicians on both sides of the aisle, not to mention the antagonistic and self serving media which profits from our delusional insanity. 

It’s resulting in desensitized, thoughtless violence that we the people have allowed ourselves to carry out by willingly being brainwashed and manipulated into ridiculous and embarrassing, national bad behavior. Which serves as an endless cycle of perpetual fuel for the media and both political parties to execute their selfish motivations. 

Our country will not collapse into either extreme political positions despite frightened and hysterical allegations otherwise. Our founders anticipated these issues we face to this day and our system of laws may not be perfect but it’s better than any other country on the face of our seriously at risk planet. 

Irrational fear, not structural change, is what is driving our country apart into two misguided political philosophies. It’s gotten so bad that it has become a daily sport to humiliate anyone with a different opinion. 

Why? 

Because, as my Pastor eloquently put it at last Sunday’s Mass, we have all developed selective empathy and cancel culture which produces an ideological bubble that prevents us from effectively communicating with each other. Which blocks logical thought processes and personal human interaction. 

Today’s political fear fracture is different than anything we have experienced ever in the history of our country. 

Despite the fact, or perhaps because of this fact, we as a nation have become more educated through technology access to information. It’s counterintuitive that we have become less emotionally intelligent in our reaction to national events than before these “tools” of technology were available to the common person. 

So, we should ask ourselves, how much longer can we survive as a respectable and productive nation if we refuse to burst our bubbles and become better people?

Best Regards,
 
Dale R. Kluga
Equipment Finance Founder & CPA
Member AICPA & ICPA
Cell: 630-675-0828
Email: dalekluga@gmail.com
LINKEDIN: http://linkedin.com/in/dale-kluga-cpa-85704740

News Briefs

UC employees, not waiting on leaders, sue Trump
   for ‘financial coercion’ over UCLA cuts
https://www.latimes.com/california/story/2025-09-16/university-of-california-faculty-sue-trump-over-ucla-fine-research-cuts

Credit scores drop at fastest pace
   since the Great Recession
https://www.cnn.com/2025/09/16/economy/debt-credit-score-student-loans

Mortgage Rates Near 3 Year Lows Ahead of Fed
https://www.mortgagenewsdaily.com/markets/mortgage-rates-09162025

Eli Lilly to build $5 billion drug manufacturing
plant in Virginia
https://www.washingtonpost.com/dc-md-va/2025/09/16/eli-lilly-rchmond-virginia-factory-youngkin/

60 violations in 50 days: Inside ICE’s giant tent
    facility at Ft. Bliss
https://www.washingtonpost.com/business/2025/09/16/ice-detention-center-immigration-violations/?utm_campaign=wp_post_most&utm_medium=email&utm_source=newsletter&carta-url=https%3A%2F%2Fs2.washingtonpost.com%2Fcar-ln-tr%2F44cf066%2F68c98ba783e69b3
19c776a9b%2F5e5af768ae7e8a0d54f27752%2F11%2F67%2F68c98ba783e69b319c776a9b

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Trump Secured the Border, So Where Are the Jobs?
https://www.wsj.com/opinion/trump-secured-the-border-so-where-are-the-jobs-64cee458?gaa_at=eafs&gaa_n=ASWzDAiWYaXF0vxXNJgaL9ccbn2Q22o2J6qDrfxSo1
mUgT861AbIbadoNelzfcX7j2U%3D&gaa_ts=68c9eff8&gaa_sig=yaQAi720DlM9qSyTHiw
zq7g_Knamm6Hqqxnhh2VS38zFuq5jfLyw-bBxfKHBxngwp9SusMgzn1Vl9140o_hriQ%3D%3D

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Sports Briefs---

The NFL’s Highest-Paid Players 2025
https://www.forbes.com/sites/brettknight/2025/09/07/the-nfls-highest-paid-players-2025/?utm_source=newsletter&utm_medium=email&utm_cam
paign=dailydozen&cdlcid=68335a860e0cbffca2fef5b6''''

49ers 26, Saints 21: Jones’ three TD passes,
    late defensive heroics help Niners reach
https://www.mercurynews.com/2025/09/14/49ers-26-saints-21-jones-three-td-passes-late-defensive-heroics-put-niners-2-0/

It wasn’t pretty, but Patriots stick to Mike Vrabel’s plan to pick up   first win, and other observations from Miami
https://www.bostonglobe.com/2025/09/14/sports/patriots-dolphins-analysis

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California News Briefs---

 

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Gimme that Wine

 

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

Rhone Rangers Celebrate International Grenache Day
https://www.winebusiness.com/news/article/308033

AB 720 Passes: Milestone Win and New Era
   for California Winery Experiences
https://www.winebusiness.com/news/article/307951