Correction
 -- Link Not Working on Top Ten

While it made the Top Ten Most read Last Week,
when reported in Monday’s Report, link was
not working,

Leasing News Advisor Board Member Terri McNally, President/Founder Global Capital Limited ,was the first to let Leasing News know the link to the Marshall Goldman Top Story was not working’'

Big Shift at the CFPB:
MCAs May Be Out of Section 1071—for Now
By Marshall Goldberg, Leasing News Chief Legal Editor
Glass & Goldberg, A Law Corporation
https://leasingnews.org/archives/Nov2025/11_25.htm#big

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New Hires/Promotions in the Leasing Business
and Related Industries

CONFIRMATION:
  This was ready for Monday, but did not get confirmation until too late to add to Monday News Edition:

Adam Peterson took office as Chief Executive Officer, Channel, Your Partner in Funding. His last position was Managing Director (January, 2023 – End of November, 2025, Minnetonka,Minnesota, where he led a cross-functional team including operations, credit, and sales, with responsibility for managing equipment finance partnerships from relationship development, through originations, efficiencies and portfolio performance for Eastern half of the United States. His full bio notes he started as Senior Account Executive (April, 2009 to August, 2015), Maple Grove, Minnesota, as co-founder of Channel Partners C capital with his father Brad. Full Bio:
https://www.linkedin.com/in/adam-peterson-a911111a/details/experience/
https://www.linkedin.com/in/adam-peterson-a911111a/

Griffith Gates was hired as Chief Revenue Officer, Capital Gurus. He is located in Los Angeles, California. Previously, he was Manager Finance, SpaceX (October, 2020 - December, 2025); Private Equity Associate, Vance Street Capital (August, 2019 - October, 2020); Investment Banking Analyst (June, 2017 - June, 2019); Investment Banking Summer Analyst (June, 2016 - August, 2016).
https://www.linkedin.com/in/griffith-gates/


Tom Kritzer Head, U.S. Equipment Finance, BMO Commercial Bank, He is located in Naperville, Illinois.  Previously he was at BNO Harris Bank, starting as SVP, Sales, February, 2013, promoted Director, Transportation Finance (August, 2015 - November, 2025); SVP Sales (February, 2013 - August, 2018); Risk Manager, Navistar Financial Corporation (March, 2007 - June, 2010); Wholesale Credit Executive (April, 2007 - March, 2008).
Full Bio:
https://www.linkedin.com/in/tom-kritzer-5534b51/details/experience/
https://www.linkedin.com/in/tom-kritzer-5534b51/


Christian Torresluna was hired as Senior Business Development Manager, Mazo Capial ASlutions, to work remote from Fullerton, California. He remains Co - [founder/Silent Partner, The Winston Box (May, 2016 - Present), Dallas, Texas. Regional Sales Manager, Equify Financial LLC  (November, 2022 - December, 2025).
Full Bio:
https://www.linkedin.com/in/christiantorresluna/details/experience/
https://www.linkedin.com/in/christiantorresluna/

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NMEF Completes $502 Million Acquisition
of Midland Equipment Finance Portfolio

December 3, 2025 | NORWALK, CT – North Mill Equipment Finance LLC (“NMEF”), a leading independent commercial equipment lender and lessor headquartered in Norwalk, Connecticut, is pleased to announce that it has completed the acquisition of substantially all of the equipment finance portfolio of Midland States Bancorp, Inc. (“Midland”) (Nasdaq: MSBI). 

With the addition of the Midland portfolio, NMEF continues to expand its scale and diversification across the equipment finance market, bringing total gross receivables under management to nearly $3 billion. NMEF partnered with funds managed by Oaktree Capital Management, L.P. (“Oaktree”) for this transaction, which underscores the strong institutional demand for high-performing commercial finance assets originated and managed by NMEF.  NMEF has partnered with Orion First, a Concord company, to service the Midland portfolio, ensuring continuity and excellence for customers.\

“This transaction marks a strategic success for all parties and underscores NMEF’s strength in sourcing, structuring, and executing complex transactions that deliver meaningful value to our stakeholders.” said David C. Lee, Chairman and CEO of NMEF.  “Completing the acquisitions of both the Midland portfolio and Pawnee in 2025 is a remarkable accomplishment—either one alone would have made this an exceptional year.”

“The Midland portfolio acquisition and institutional funding partnerships with the likes of Oaktree further demonstrate our disciplined approach to capital deployment and portfolio management,” said Mark Bonanno, President and Chief Revenue Officer of NMEF.  “By combining the Midland portfolio with our established funding channels, we were able to unlock significant economic value through both gain-on-sale income and recurring servicing revenue.”

“The coordination between our team and Oaktree was exceptional,” said Tom Lyle, Executive Vice President and Chief Operating Officer. “This was a highly structured transaction that required speed, trust, and precision. We are proud of the collaborative effort that brought it to a successful close and look forward to welcoming those former Midland employees who are joining the NMEF family.”

This transaction continues to expand NMEF’s existing funding relationship with Oaktree. “Oaktree’s experience providing liquidity solutions for banks, familiarity with the equipment finance space, and excellent working relationship with North Mill’s team, allowed us to complete this compelling transaction” said Rana Mitra, Managing Director for Oaktree’s Asset-Backed Finance platform. “Oaktree will continue to work with trusted institutional origination and servicing partners like North Mill to generate differentiated, attractive asset-backed investment opportunities for our clients”, said Brendan Beer, Portfolio Manager for Oaktree’s Asset-Backed Finance and Structured Credit strategy.

Stephens Inc. served as financial advisor to Midland. Macquarie Capital served as financial advisor to NMEF on its partnership with Oaktree for this transaction. Truist Bank and Deutsche Bank AG, New York Branch provided debt financing to the Oaktree funds. Barack Ferrazzano Kirschbaum & Nagelberg LLP served as legal counsel to Midland, Moore & Van Allen PLLC served as legal counsel to NMEF, Gibson, Dunn & Crutcher LLP served as legal counsel for Oaktree, and Morgan Lewis and Bockius LLP served as legal counsel for the banks. 

About NMEF
NMEF is a premier lender working 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 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.com and www.britecap.com.

About Oaktree
Oaktree is a leader among global investment managers specializing in alternative investments, with $203 billion in assets under management as of March 31, 2025. The firm emphasizes an opportunistic, value-oriented, and risk-controlled approach to investments in credit, equity, and real estate. The firm has more than 1,200 employees and offices in 25 cities worldwide. For additional information, please visit www.oaktreecapital.com.

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Navigating the Year-End Rush with
 Precision and Purpose
By Scott Wheeler, CLFP

The year-end rush is once again upon us. Across the commercial equipment finance and leasing industry, top originators are working diligently to close as many transactions as possible before the hard deadline of December 31.

This is not business as usual. Vendors and end-users are counting on proficient originators to guide them through the chaos—where timing is critical, expectations must be clear, and execution must be flawless.

Loose ends tend to multiply in the final days of the year. That’s why clarity, communication, and realistic expectations are essential. Success in this season requires more than hustle—it demands orchestration.

A Year-End Closing Checklist for Originators:

1. Prioritize Closable Transactions

• Identify deals with realistic paths to funding before December 31.
• Confirm documentation status and funding logistics early.

2. Communicate Proactively

• Update vendors, end-users, and internal teams regularly.
• Set clear expectations around timing, approvals, and potential delays.

3. Anticipate Bottlenecks

• Legal reviews, insurance, UCC filings, and inspections can stall progress—get ahead of them.
• Confirm holiday schedules for key stakeholders.

4. Stay Organized

• Use a daily tracker for deal status, required actions, and follow-ups.
• Block time for high-impact activities—avoid distractions.

5. Lead with Confidence

• Be the calm, capable guide your clients need.
• Offer solutions, not just updates.

6. Protect Your Reputation

• Avoid overpromising. Underwrite your commitments with precision.
• Document everything—especially verbal approvals or last-minute changes.

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

Help Wanted Ad
    Ameris Bank Equipment Finance

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Who, What, When, and Where
By Ken Lubin, Managing Director, ZRG Partners

Success—whether in business, sports, or life—comes down to clarity. Most people stumble not because they lack talent or opportunity, but because they don’t clearly define the who, what, when, and where of their goals.

Who are you becoming? Who’s on your team? Who are you surrounding yourself with that pushes you to grow, not stay comfortable? The people around you are either building momentum or draining it. Choose wisely.

What are you doing? What’s the mission that drives you every day? If you can’t answer that in one sentence, you’re drifting. Define what matters most, and align your energy around it. Simplicity drives execution.

When are you taking action? Waiting for the perfect time is a myth. Momentum is built by acting when conditions aren’t ideal. The best athletes, leaders, and entrepreneurs don’t wait—they start, adjust, and improve.

Where are you going? Direction beats speed every time. If you don’t know your destination, you’ll waste energy sprinting in circles. Step back, zoom out, and make sure every move is leading somewhere meaningful.

Clarity creates conviction. Conviction drives performance. If you want to win—in business, leadership, or life—start by defining your who, what, when, and where.

The rest will fall into place.

Ken Lubin
Managing Director
ZRG Partners, LLC
Americas I EMEA I Asia Pacific
klubin@zrgpartners.com
C: 508-733-4789
https://www.linkedin.com/in/klubin

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

Ansley Park Capital Announces $400 Million Asset-Backed Securitization Transaction Represents U.S. Market’s Largest First-Time Issuance

 
NEW YORK - Ansley Park Capital (“Ansley Park”), a leading equipment finance platform, announced today the successful closing of its inaugural asset-backed securitization (“ABS”) on November 26, 2025, a landmark transaction valued at over $400 million that now stands as the largest first-time issuance in the large-ticket equipment finance market.

Eric Miller, President and Chief Executive Officer of Ansley Park Capital, said, “ This milestone transaction is a testament to thie innovative vision of our platform, the confidence of our investors, and the dedication of our exceptional team,

“Together, we are building and scaling a company that is setting new industry benchmarks.”

Ankur Patel, Partner in Alternative Credit at Ares Managemen, said,  “Ansley Park Capital has distinguished itself with rapid growth, rigorous underwriting, and a commitment to building a premier equipment finance platform.

 “This inaugural securitization showcases the strength of the team and the trust the market has placed in the platform. We are excited to support Ansley Park Capital’s continued growth and expansion.”
 

Abhay Bhootra, Chief Financial Officer of Ansley Park Capital, summed it up, “This securitization is a true team accomplishment, highlighting the quality of our portfolio, and the outstanding work of our finance and capital markets teams. We are grateful for the trust and support placed by ABS investors in our platform.

“Achieving this scale and level of execution underscores the discipline and dedication that define our organization.”
 
Deutsche Bank Securities served as Sole Structuring Agent and Joint Bookrunner, Truist Securities acted as Joint Bookrunner, and an affiliate of Ares Management acted as Co-Manager.
 
Ansley Park, an affiliated portfolio company of certain Ares Alternative Credit funds, has employed a credit-focused strategy to build a quality diversified portfolio. The successful execution of this ABS transaction underscores Ansley Park’s ability to structure, scale, and deliver customized financing solutions while maintaining rigorous underwriting standards and portfolio performance.
 
The offering includes more than $400 million of rated securities, with Moody’s providing ratings across the full capital stack. This marks the first time a major rating agency has rated the entire structure of an inaugural issuance in the large-ticket equipment finance sector. Investors demonstrated strong demand, with the transaction oversubscribed across all tranches.

About Ansley Park Capital
Ansley Park Capital is a lending and specialty finance platform focused on delivering flexible and customized financing solutions for essential-use, large-ticket equipment and machinery across a multitude of asset types and industries. At Ansley Park Capital, we tap into the responsiveness, flexibility, and creativity of a highly experienced team with unmatched access across the equipment financing industry to serve a broad community of borrowers to meet their individual needs with full product capabilities. Our approach to working with our clients is simple: we strive to understand our customers, take the time to underwrite their business, and provide tailored financing solutions for the unique circumstances they need to grow their businesses today and well into the future. For more information, please visit www.ansleyparkcapital.com.
 
About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to advance our stakeholders' long-term goals by providing flexible capital that supports businesses and creates value for our investors and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of September 30, 2025, Ares Management Corporation's global platform had over $595 billion of assets under management, with operations across North America, South America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.

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

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$11 Billion Increase in Credit Card Debt
- WalletHub Projection

 

New data on Q3 credit card debt is scheduled to be released by the Federal Reserve on Friday afternoon, and WalletHub is projecting an $11 billion increase on an inflation-adjusted basis. You can find highlights and commentary below, in advance of WalletHub’s updated Credit Card Debt Study, which will be released on Friday around 4 p.m. ET, shortly after the Fed data comes out.

• Q3 Results: At $11 billion, the projected increase in credit card debt during Q3 2025 is around 48% smaller than the increase in Q3 2024.

• Debt Is Well Below the Peak: Total credit card debt as of Q3 is projected to be roughly $1.32 trillion on an inflation-adjusted basis, which is about 13% below the record high.

• Household Debt Has Some Breathing Room: The average household credit card balance at the end of Q3 2025 is projected to be around $10,983 after adjusting for inflation. That’s $2,077 below the record high.

• Best Balance Transfer Credit Cards: The best balance transfer credit cards currently offer 0% APRs for up to 24 months with no annual fee and low balance transfer fees.

John Kiernan, WalletHub Editor, sums it uoL
“Consumers are getting their act together ahead of the holidays, like kids on their best behavior with Santa and the Elf on the Shelf watching. Not only did we add significantly less debt to our tab in the third quarter this year compared to the same time last year, but preliminary data for October is expected to show almost no change in debt year over year. If we can keep this up, it would be great news for the financial health of U.S. households and the economy more broadly. But if history is any indication, we’re in for a massive influx of debt before 2025 comes to a close.”

 

News Briefs

EU agrees on Canada joining European defence programme
https://www.channelnewsasia.com/world/eu-canada-european-safe-defence-programme-5521361

Putin from Moscow: If Europe wants to   
   start  a war, we are ready now
https://www.politico.com/news/2025/12/02/boat-strike-republican-trump-loyalty-00673439

Trump administration will block SNAP management  funds for blue states
https://www.washingtonpost.com/politics/2025/12/02/trump-administration-blocks-snap-administration-funds/

Costco sues Trump administration to pause tariffs,  refund payments
https://www.latimes.com/business/story/2025-12-02/costco-sues-trump-administration-to-pause-tariffs-refund-payments

Second boat strike tests GOP loyalty to Trump
https://www.politico.com/news/2025/12/02/boat-strike-republican-trump-loyalty-00673439

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A Surprise When Your Package Arrives:
  You Have to Pay the Tariff
https://www.nytimes.com/2025/12/01/business/tariffs-customs-retail-shopping.html

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Sports Briefs---

49ers’ 26-8 win over Browns in Cleveland
Why beating Cleveland proved something
    important for 49ers’ playoff push
https://www.sfchronicle.com/sports/annkillion/article/beating-browns-proved-something-important-21215277.php

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California News Briefs---

New study: Moss Landing battery fire dumped 55,000 pounds of toxic metals into wildlife-rich marshes
https://www.mercurynews.com/2025/12/02/new-study-moss-landing-battery-fire-dumped-55000-pounds-of-toxic-metals-into-wildlife-rich-marshes/

California Cannabis Sales Bring in $283.7 Million in Tax Revenue for Third Quarter 2025
https://cdtfa.ca.gov/news/25-09.htm#:~:text=As%20of%20November%2018%2C%20total,that%20are%20still%20being%20processed

Waymo robotaxi hits dog in San Francisco weeks
    after killing beloved cat
https://www.sfchronicle.com/bayarea/article/waymo-robotaxi-hits-dog-san-francisco-21217764.php

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Gimme that Wine

 

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

2025 Barrel & Oak Survey Report: Oak Purchases Decline
 with Wine Production Flavor, Tannin and Micro-Ox Most
   Valuable Aspects of Barrel Aging
    by Andrew Adams
https://www.winebusiness.com/wbm/article/310430

Women for Wine Sense and Napa Valley College Present "Vines & Voices" Holiday Grand Finale: Ten Celebrated  
  Wineries Unite for Season's  
     Most Festive Wine Tasting Event
https://www.winebusiness.com/news/article/311200

James Suckling Awards 90 Points to Castle Rock Winery's
     2023 Columbia Valley Merlot
https://www.winebusiness.com/news/article/311197

Napa Valley Wine Train Announces "Midnight in Paris:
    A Legacy NYE Celebration" to Ring in 2026
https://www.winebusiness.com/news/article/311202