New Hires/Promotions in the Leasing Business
and Related Industries

Anthony "AC" Bowen was hired as Regional Sales Manager, Midwest, Commercial Credit Group, Inc., West Des Moines, Iowa.  He is located there also.  Previously, he was Equipment Financing & Syndications, Commercial Fleet Capital, LLC (June, 2023 - December, 2024); Senior Account
Manager, Equipment Finance, Amur (September, 2021 - June, 2023); Equipment Finance Account Manager, Balboa Capital (May, 2019 - September, 2021); Senior Account Executive, Kinetic Leasing, Inc. (June, 2018 - May, 2019). Full Bio:
https://www.linkedin.com/in/anthony-ac-bowen-1ba71272/details/experience/
https://www.linkedin.com/in/anthony-ac-bowen-1ba71272/

Christopher Demtschenko, CLFP, was promoted to Senior Vice President, Post Road Equipment Finance, LLC. Westport, Connecticut. He is located in Rochester, New York.  He joined Post Road as Vice President, January, 2024. Previously, he was Director of Equipment Finance, Foundry, a Digital Currency Group Company (November, 2021 - December, 2023); He joined First American Equipment Finance, July, 2017, as Finance Specialist, promoted July, 2018, Assistant Vice President, Logistics + Distribution Division, promoted Vice President, Logistics + Distribution Division (August, 2020 - November, 2021); Financial Professional, AXA Advisors, LLC (August, 2016 - July, 2017): Full Bio:
https://www.linkedin.com/in/cdemt/details/experience/
https://www.linkedin.com/in/cdemt/

Nathan Ford was hired as Chief Operating Officer Fivestar Financial , Warsaw, New York. He is located in St. Augustine, Florida. Previously he was at Ascentium Capital, working remote, starting September, 2023, Vice President of Sales, promoted Vice President of Vendor Relations, Vendor Channel (September, 2023 - December, 2024); Previously, he was Chief Executive Officer, Milestone Capital, Inc. (August, 2021 - August, 2023); Vice President of Sales,  Partners Capital Group (October, 2020 - September, 2021); Vendor Relations Specialist, Commercial Finance & Leasing Bank of Cardiff, Inc. (March, 2017 - June, 2020). Full Bio:
https://www.linkedin.com/in/nathaniel-ford-55a74898/details/experience/
https://www.linkedin.com/in/nathaniel-ford-55a74898/

Kate LeConey, CLFP, was promoted to AVP, Strategic Partnerships, North Mill Equipment Finance, Norwalk, Connecticut. She is located in Voorhees, New Jersey. She started at NMEF April, 2022, Relationship and Marketing Manager, promoted Senior Relationship and Marketing Manager, January, 2024, promoted AVP Strategic Partnerships (December, 2024). She joined Marlin Capital Solutions, December, 2014, Sales Support, promoted September, 2015, Retail Business Development Manager, promoted Sr. Commercial and Industrial Business Development Manager (March, 2019 - October, 2020): Sales Support Specialist, Canon Solutions America (January, 2013 - December, 2014). She began her career at L-3 Communications, February, 2006, and worked up to Configuration Management Analyst (September, 2009 - April, 2011).
https://www.linkedin.com/in/kate-leconey-clfp-304b6a57/

Pierina Silvestre, CLFP, was promoted to Vice President, North Mill Equipment Finance, LLC, Norwalk, Connecticut. She is located in Westport, Connecticut. She joined NMEF in 2021, Senior Business Analyst,  promoted Assistant, Vice President, Information Technology, January, 2022.
https://www.linkedin.com/in/pierina-silvestre/

David Trost was hired as Director of Product, Northteq. He is located in Greater Boston.  He joined Northteq as Senior Product Manager, July, 2024. Previously, he was General Manager, Financial Services, FortifiD, Inc. (January, 2023 - June, 2024);  SVP, Senior Product Manager, Equipment Finance, M&T Bank (July, 2022 - December, 2022); Orion First, VP Product & Analytics (March, 2020 - July, 2022). He joined Mintaka Financial, June, 2017, Strategic Relationship Manager, promoted March, 2019, VP, Analytics & Syndications, promoted VP Product & Analyst (March, 2020 - July, 2022). He began his career at Lease, Regulatory Compliance, Microsoft Excel + 16 skills. promoted Director, Transport Finance (May, 2016 - June, 2018).
https://www.linkedin.com/in/trostdc/

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North Mill Equipment Finance Promotions

We are proud to announce a series of well-deserved promotions, highlighting the outstanding contributions of our team members who embody our core philosophy of "pursuing excellence". These individuals have played a vital role in driving NMEF’s continued growth and success!

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2024 CLFP Accomplishment Report
Now Available

https://clfpfoundation.org/wp-content/uploads/2024/12/2024-Q4-Accomplishments.pdf

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Leasing and Finance Industry Help Wanted
Excellent Compensation/Marketing Support

Leasing News Person of the Year 2024
To Be Announced in January 2025

--------

Previous Leasing Persons of the Year
Several for Careers of their Body of Work

2023 - Ken Greene, Attorney https://leasingnews.org/archives/Jan2024/01_17.htm

2022 - Steve Glazer, California State Senator
https://leasingnews.org/archives/Jan2023/01_05.htm#poy

2021 - Lovern J. Gordon, CLFP
https://leasingnews.org/archives/Jan2022/01_04.htm#poy

2020 - Tom McCurnin, Attorney, Barton, Klugman & Oetting, Leasing News Legal Editor/Writer
https://leasingnews.org/archives/Jan2021/01_05.htm#poy

2019 - Monica Harper, Executive Director, American Association of Commercial Finance Brokers https://leasingnews.org/archives/Jan2020/01_08.htm#poy

2018 - Gerald "Jerry" Parrotto, retired CEO/President, Molloy Associates; Publisher Monitor, ABF Journal http://leasingnews.org/archives/Jan2019/01_03.htm#loy2018

2017 - Deborah Monosson, President and CEO, Boston Financial& Equity Group http://leasingnews.org/archives/Jan2018/01_03.htm#poy

2016 - Reid Raykovich, CLFP, Certified Lease & Finance Professional Foundation http://leasingnews.org/archives/Jan2017/01_04.htm#poy

2015 - Bruce Kropschot, The Alta Group http://leasingnews.org/archives/Jan2106/01_06.htm#poy

2014 Valerie Jester, President, Brandywine Capital Associates https://leasingnews.org/archives/Jan2015/1_05.htm#jester

2013 Bernard D. Boettigheimer, CLFP, Founder, Lease Police http://leasingnews.org/archives/Jan2014/1_07.htm#poy

2012 Tony Golobic, President, GreatAmerica Financial Services http://leasingnews.org/archives/Jan2013/1_07.htm#poy

2011 John C. Deane, Sr. Mgr. Partner, The Alta Group http://leasingnews.org/archives/Jan2012/1_04.htm#2011_poy

2010 Curt Ritter, CIT, VP, Communications/Media Relations http://leasingnews.org/archives/Jan2011/1_04.htm#ritter

2009 Ralph Petta, COO, Equipment Leasing and Finance Association http://leasingnews.org/archives/Jan2010/1_05.htm#poy

2008 Robert Teichman, CLFP, Teichman Training http://www.leasingnews.org/archives/January%202009/01-05-09.htm#year

2007 Randall H. Brook, Sr. Attorney, Federal Trade Commission http://www.leasingnews.org/archives/January%202008/01-07-08.htm#lpy

2006 Paul A. Larkins, Key Equipment Finance http://www.leasingnews.org/archives/January%202007/01-03-07.htm#year

2005 Paul J. Menzel, CLFP, Pacific Capital Bancorp. http://www.leasingnews.org/archives/January%202006/01-03-06.htm#person

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SBA Increases 7(a) Loan Limit to $500,000, Increase Footprint
for Select Community Advantage Lenders
Coleman Reports

SBA’s most recent information notice announces that they are entering a process that will allow Community Advantage Small Business Lending Companies to make loans of up to $500,000. The notice also states that CA SBLCs can begin applying to SBA to expand their geographic lending territory next year.

Going into effect at the start of 2025, SBA is raising the 7(a) loan ceiling for Community Advantage SBLCs. The change allows CA SBLCs to lend a maximum of $500,000. The Office of Credit Risk Management will contact qualifying CA SBLCs to confirm the increased loan ceiling. CA SBLCs are not allowed to start making loans greater than $350,000 until they receive confirmation from OCRM.

Currently, SBA allows CA SBLCs to lend only in states and territories that were specified in the lender’s business plan. Lenders with satisfactory performance and  that are in good standing can apply to SBA to expand their lending authority to geographic areas in which they are not currently authorized.

Starting January 1, 2025, CA SBLCs can request authority to make 7(a) loans outside of their approved lending territory by submitting applications to CAloans@sba.gov.

Questions about the notice as well as required applications can be directed to Nermeen Ghniem, Senior Financial Analyst, Office of Credit Risk Management at CAloans@sba.gov.

The SBA is continuing its efforts to expand its small loan portfolio by allowing "invited" Community Advantage lenders to make 7(a) loans up to $500,000. Additionally, CA lenders may petition the SBA for permission to operate across state lines. In this notice, the SBA does not address its earlier statements regarding Community Advantage lenders being allowed to increase their loan maximum to $2 million for climate projects. If you have any additional information on this topic, please email or direct message me on X @BobColeman

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Confidence Continues to Grow in the Equipment
 Finance Industry, According to ELFF Report

The Equipment Leasing & Finance Foundation (the Foundation) releases the December 2024 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI) today. Overall, confidence in the equipment finance market is 68.8, surpassing the November index of 67.5, the previous three-year high.

Jim DeFrank, EVP and Chief Operating Officer, Isuzu Finance of America, Inc., said, “Economic resilience and growth, the continued adoption of technology and digitization, and government infrastructure initiatives are increasing demand. The new administration may slow the shift toward sustainability and the equipment requirements needed.”

Charles Jones, Senior Vice President, 1st Equipment Finance, Inc., commented, “Political changes at the federal level are encouraging to small business. Changes to green energy policy and federal oversight [Section 1071] could lead to a more robust environment.” Independent, Small Ticket

James D. Jenks, CEO, Global Finance and Leasing Services, LLC., expressed, “The president-elect is expected to make a number of changes that will positively impact the U.S. economy.”

David Normandin, CLFP, President and Chief Executive Officer, Wintrust Specialty Finance, said, “Over the last year, the equipment finance industry has witnessed changes in liquidity, volatile swap rates, higher delinquency, and credit charges returning to a more normalized state. Through this, we have adapted and created better solutions to meet our customers’ needs. Now that the election is over and the Fed has begun cutting rates, I think there is more surety for businesses to confidently invest in their business. This will create good opportunities for the equipment finance industry in 2025.”

Full Press release:
https://www.leasefoundation.org/industry-research/monthly-confidence-index/

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

Truepic and Northteq Partner to Automate and Innovate
Inspections for Equipment Finance Lenders

 

Truepic for Salesforce Brings Instant Equipment Verification to Lenders

MINNEAPOLIS, MINNESOTA— Truepic, the enterprise solution for digital content authenticity, and Northteq have partnered to launch a next-generation solution that automates site inspections for equipment finance lenders. Lenders are now able to streamline equipment verification, enabling faster deal funding while reducing costs and enhancing fraud prevention. Truepic’s authenticated imagery platform, Vision, is directly integrated with Northteq’s Aurora Loan Origination System (LOS) and is referred to as Truepic Direct. Truepic’s Vision platform is also available as a standalone Salesforce solution.

Kristian Dolan, CLFP,  Chief Executive Officer of Northteq, said, “Traditional site inspections are slow, costly, and create unnecessary roadblocks for lenders, borrowers, and vendors alike. "By partnering with Truepic and integrating their authentication technology with Aurora LOS, we’re simplifying the equipment verification process. Our seamless, self-service experience enables lenders to fund deals faster, lowers operational costs, strengthens fraud detection, and helps ensure vendors and dealers get paid sooner.”

Waiting for equipment to be inspected for delivery and acceptance has been a chronic pain point for lenders, consuming valuable time and resources. Truepic’s innovative technology streamlines the inspection process, leveraging advanced image verification and AI fraud prevention tools to reduce delays, mitigate risk, and significantly lower operational costs. By eliminating geographic barriers, this collaboration also enables Aurora clients to expand their serviceable footprint, ultimately delivering a more seamless and secure lending experience for customers.

Adding to Aurora’s suite of self-service features, Truepic Direct introduces self-service equipment inspections, allowing borrowers to capture photos and videos of equipment directly from their smartphone or tablet. Truepic’s technology then automatically authenticates and verifies the image’s integrity. The platform checks for tampering and validates geolocation, timestamps, and device information—all in real-time.

Craig Stack, founder and president of Truepic, said, "We’re excited to partner with Northteq to make our technology more accessible to the equipment finance industry. Truepic gives lenders a level of verification that traditional inspections simply can’t match,” commented. "Our platform goes beyond basic media uploads, helping deliver accuracy, security, and peace of mind in a fraction of the time."

Truepic’s multi-layered authentication process includes:

Automatic serial number identification
Odometer verification
Precise geolocation
Timestamp and device information capture
Advanced digital manipulation detection
Comprehensive inspection reporting

Learn more about Truepic Direct for Salesforce.

About Truepic
Truepic provides authenticity infrastructure for the internet. The company’s transparency tools deliver verifiable information about the origin and editing history of digital content. Truepic is dedicated to advancing products and services that establish transparency in digital content, empowering viewers and users to identify authenticity and differentiate human from computer-generated. Recognized as one of TIME’s Best Inventions and Fast Company’s World Changing Ideas, consumers, businesses, creators, and publishers trust Truepic’s technologies to make informed decisions.  https://www.truepic.com/

About Northteq
Northteq, LLC is a Minneapolis, Minnesota-based fintech company that has empowered over 175 lenders to provide their borrowers, vendors, and employees with automated lending solutions that increase revenue and create better lending decisions. Aurora, Northteq’s flagship product, is an automated, Salesforce-powered loan origination system, vendor, and borrower portal.

Northteq carefully selects partnerships with industry-leading providers in credit, fraud detection, and other essential areas, such as Middesk, PayNet, Mastercard Identity, FICO, Equifax, Experian, D&B, TimeValue, LexisNexis, Nintex, Ocrolus, Plaid and more. By choosing the best partners, Northteq offers lenders streamlined turnkey app integrations that allow them to make smarter, automated decisions.

Northteq is now primarily owned by Arthur Ventures, a respected Minneapolis-based early-growth capital firm known for leading investments in B2B software companies. This partnership positions Northteq for continued growth and innovation. Since 2013, Arthur Ventures has partnered with over 50 companies across the United States and Canada. For more information, please visit https://northteq.com/

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

News Briefs

Democrats and GOP hardliners tank Trump-backed House
    bill to avert government shutdown
https://nypost.com/2024/12/19/us-news/house-gop-strikes-agreement-to-forestall-government-shutdown-and-trump-wants-it-to-pass-tonight/

Elon Musk Flexes His Political Strength
    as Government Shutdown Looms
https://www.nytimes.com/2024/12/19/us/politics/elon-musk-politics.html

White House aides hid Biden’s apparent mental decline
    from Day 1 of his presidency, explosive report reveals
https://nypost.com/2024/12/19/us-news/white-house-aides-hid-bidens-apparent-mental-decline-from-day-1-of-his-presidency-explosive-report-reveals/

How the White House Functioned
    With a Diminished Biden in Charge
https://www.wsj.com/politics/biden-white-house-age-function-diminished-3906a839?st=aFCgHa&reflink=desktopwebshare_permalink

Mayor Eric Adams’ key aide Winnie Greco has
    ‘disappeared’ from NYC, may be cooperating with feds
https://nypost.com/2024/12/19/us-news/eric-adams-aide-winnie-greco-has-disappeared-from-nyc/

FedEx Shares Jump on Plan to
    Spin Off Freight Trucking Division
https://www.wsj.com/business/logistics/fedex-to-spin-off-its-freight-trucking-division-c5e8b791?st=vkvJAv&reflink=desktopwebshare_permalink

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Job Versus Home? More than One-Third of
  Remote Workers Would Look for a New Job
Rather than Move, Bright MLS Survey Finds
https://www.prnewswire.com/news-releases/job-versus-home-more-than-one-third-of-remote-workers-would-look-for-a-new-job-rather-than-move-bright-mls-survey-finds-302335763.html

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Sports Briefs---

How Deommodore Lenoir went from 49ers’ 5th-round
  draft pick to indispensable corner
https://www.eastbaytimes.com/2024/12/19/how-deommodore-lenoir-went-from-49ers-5th-round-draft-pick-to-indispensable-corner/

[headlines]
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California News Briefs---

Sutter Health plans huge South Bay medical
 suburbs in $800-million project in Santa Clara
www.sanjoseinside.com/news/sutter-health-announces-new-flagship-healthcare-campuses-in-santa-clara/

California sees large population increase
 in 2024 — nearly returning to pre-pandemic level
https://www.eastbaytimes.com/2024/12/19/californias-sees-large-population-increase-in-2024-nearly-returning-to-pre-pandemic-level/

After $290M debt, SF investor bails on
 city's sixth largest hotel
https://www.sfgate.com/travel/article/popular-trendy-san-francisco-hotel-changes-19990947.php

[headlines]
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Gimme that Wine

 

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

Supervisors Allow Santa Barbara Wine BID
    to Move Forward
https://www.independent.com/2024/12/17/supervisors-allow-santa-barbara-wine-bid-to-move-forward

Napa County's Planning Commission has given
the green light to build a new winery in Oakville.
https://www.winebusiness.com/news/article/296451

The Garagiste Wine Festival Returns to Solvang with 30   Winemakers, 150+ Wines  p February 7, 2025
https://www.winebusiness.com/news/article/296422

Best of Texas Wine Country Launches Digital Platform To Connect Affluent Visitors With Curated Wine Country Experiences
https://www.winebusiness.com/news/article/296415

US White Wine Sales Grow,
But Reds Still Dominate
https://www.meiningers-international.com/wine/news/us-white-wine-sales-grow-reds-still-dominate