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Contact: kitmenkin@leasingnews.org


Friday, April 25, 2025


Today's Leasing News Headlines

AACFB Recap: A Celebration of Connection,
  Collaboration,
and Community
    by Mel Vinson, CLFP
Modern History of Leasing
  by Tom McCurnin, Leasing News Legal Editor
    and Christopher Menkin, Leasing News Editor
License and Registration United States
  A State-by-State Analysis of License Requirements
    for Lenders and Brokers
Balboa Capital Available Position
    Program Manager II- Equipment Broker Sales
March CapEx Finance Index Reveals New Business    
    Financial Conditions Weakened
2025 Economic Outlook: Weaker Growth Expected as  
    Tariffs, Uncertainty Complicate Business Climate
CLFP Academy Postings and Information
    May to October 2025

News Briefs---
A Sign That Consumers Are Anxious  
    They’re Cutting Back on Snacks
Burger Giant to
    Close 200 Stores
Celebrating Excellence in Leasing: NVLA’s 2025
    Award Honorees Drive the Industry Forward
Tariff Update April 24: Looming Parts
    Tariffs Create New Cost Pressures
The Beige Book-Summary of Current Conditions by
    Federal Reserve District - April, 2025
GATX Reports Net Income
    of $78.6 Million

You May Have Missed ---
YouTube turns 20 years old
    How it changed TV as we know it

Sports Briefs
   California News
    "Gimme that Wine"
 This Day in History
  SuDoku
   Daily Puzzle
    GasBuddy
     Weather, USA or specific area
      Traffic Live----
       Wordle

######## surrounding the article denotes it is a press release, it was not written by Leasing News nor has the information been verified, but from the source noted. When an article is signed by the writer, it is considered a byline. It reflects the opinion and research of the writer.

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AACFB’s 2025 Annual Conference:
Celebration of Connection, Collaboration, and Community
by Mel Vinson, CLFP


Opening Reception by the Paris Pool

The American Association of Commercial Finance Brokers (AACFB) wrapped up its 2025 Annual Conference with a spirit of connection and community. This year’s conference was held at the Paris Hotel in Las Vegas, bringing together over 300 professionals for three impactful days centered on the theme: High Stakes, High Rewards: Doubling Down on Growth and Innovation. Beyond the educational sessions and industry updates, this conference stood out for its unwavering focus on people — we gathered together with new connections, long-standing members, and focused on the deep relationships that form the core of the American Association of Commercial Finance Brokers community.


Newcomer's Presentation by Kalah Sprayberry, CLFP

From kicking off the conference with the opening golf tournament and the Women in Finance Luncheon, to the Brokering Essentials course, and Speed Networking, the first day was packed with opportunity for engagement and connection.

 In the Exhibit Hall, exhibitors provided the chance to connect with industry peers and partners, while the many breakout sessions across the conference offered practical tools and insights for members just before the Opening Reception


CLFPs at AACFB

The ever-growing group of Certified Lease & Finance Professionals (CLFPs) gathered by the Paris Hotel pool for a group photo and moment of recognition. Their shared commitment to excellence and continued education reflects the increasing positive influence of the CLFP designation within the AACFB membership.


Steve Geller, CLFP Accepting the Award

A highlight of the conference on day two was the presentation of the 2025 President’s Award, which was awarded to Steve Geller, CLFP, of Leasing Solutions.

 Steve has been a member of the AACFB for more than 25 years, and his steady attendance, mentorship, and positivity have made him a pillar of excellence within AACFB and our industry. Known for his reliability and genuine support of others, Steve exemplifies what it means to serve not just an industry but a community.


Women in Leasing Luncheon

The luncheon also featured Once Upon a Room Las Vegas, a non-profit that supports children undergoing long hospital stays by decorating their rooms to make their stays more comfortable.


Jeff Bilbrey, along with Equipment Finance Cares, presented a $1000 check and donations from AACFB attendees to the Once Upon a Room Las Vegas team.

Leadership transitions were also a significant milestone of the week. Outgoing President Roderick Knoll, CLFP, passed the Presidential duties to Kalah Sprabeary, CLFP, and new Board Members were announced. The Association also welcomed new board members Ishmael McGhee, Troy Vosberg, CLFP, and Liz Poventud.

 Heartfelt gratitude was also shared with outgoing board members Teresa Cranney and Laura Simpson for their dedicated service over the last several years. In addition, the AACFB introduced its new legal counsel, Dennis Dressler of Dressler & Peters, LLC, who will support the association in its continued growth and governance.

As the final toast to the AACFB community was shared during Friday’s “Happy Hour & a Half,” where attendees left not just with new insights and business cards but with a renewed sense of community and connection. Whether celebrating a retirement, bidding on prize packages, building new relationships or connecting again with longtime industry friends, the week was a wonderful reminder of why this community continues to thrive.


Melissa (Mel) Vinson, CLFP
VP Marketing & Development
CLFP Foundation



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Modern History of Leasing
by Tom McCurnin, Leasing News Legal Editor
and Christopher Menkin, Leasing News Editor


Brokers Grow in Leasing

As the brokers got into the field, many started their own leasingcompanies as originators and some brought in investors or obtain lines of credit via investors or relatives or putting up their house. Private label contracts used by funders for “captive vendor” business became the purview of independents who did the sales while the funder did the approvals and servicing.

At first it was recourse with the banks, then non-recourse as they taught bank officers how the procedure worked and banks become more comfortable. Companies also were obtaining recourse lines of credit from banks with leasing divisions such as Crocker Citizens, Security Pacific, Union Bank, Wells Fargo with its auto center division. Companies such as TRE Financial, Phoenix, Key Lease, and SHW Capital grew to compete with AT&T Capital, Dana, FMC, and Tri-Continental. GE was still the elephant in the room.

Larger banks at this time were getting into middle-market leasing, and for a long time, Bank of America did not consider any leasing below $500,000, even for good existing bank customers.

Leasing commission by leasing companies financed by banks were often capped at 2% to 3%, what the funders were also paying dealers or the dealer sales personnel direct. Copiers were the most popular to be leased, then telephones, security systems, office furniture, and finally computers and even software in the 1980’s. There was very little “franchise leasing,” even McDonald’s and “7- Eleven were financed, not leased--- and Small Business Administration loans prohibited leasing until their loan was paid off. Brokers learned they could not only earn more of a commission in “discounting,” but could earn the residual when the lease paid out, as it was treated as a “balloon payment,” not counted in the “stream of payments.”

This was the start of independent brokers, and a group in California joined together and were up to over 80 members when the then Western Association of Equipment Lessors began to take brokers. In the group were A.J. Batt of Atel Capital, Louis Funkenstein (Funston) of Western States, Mont Gates of Leaserite, Jim Harris of Allco Leasing and Financial, Kit Menkin of American Leasing, Ted Parker of CCLease, just to name a few who began their own leasing companies. (5)

The former Equipment Leasing and Finance Association was slow in accepting third party originators, according to their directories, as well as their membership fees were higher. The newly formed Western Association of Equipment Lessors (WAEL) voted against allowing brokers being a member of their group. In reality, most of the members were “brokers with a staff” acting as a lessor. When it got to the point of competing for broker business, they were allowed to join so they could go to meetings and attract more brokers. Many of them kept direct sales staff, but augmented their business with an “indirect business” representative/processing staff. (6)

As the independent leasing companies grew, they began to have portfolios, warehouse lines to fund leases, and the syndication age began where companies would build up warehouse lines of leases and then discount them in dollar amounts, primarily over $1 million or more. As the marketplace changed, banks got involved and would start to accept portfolios and warehouse lines of credit. In the beginning, it was all recourse to the leasing company.

As competition grew, the 1980's saw the growth of lessors with non-recourse and recourse lines of credit with large banks, then smaller regional banks, and even community banks as it become more acceptable. There were books and manuals published and with brokers joining associations, then other funders, including banks, also wanted to join to vie for their business. The trend was away from direct sales to independent brokers who had access to smaller vendors, manufacturers, distributors, too expensive for the larger companies to service. Fax machines sped up the business, as well as lower price leasing software was becoming available as computers were less expensive and could now not only do accounting, but contain contracts from various companies, which sped up the process. Sending applications, constructs, documents by Federal Express became very popular. Speed became very popular, more than “rate.” Software was catching up with Capital Stream, Lease Team, McCue, and others (even brokers now had software to speed up the typing and processing of documents.)

In 1990, a group of leasing brokers formed an association called the National Association of Equipment Leasing Brokers, where brokers were the only ones who could vote in a general election, as well as had a much lower fee than another group, such as funder or service provider. At first they had a part-time “secretary” and with the help primarily of two attorneys, Joe Bonanno and Barry Marks, Esq. grew into a premier organization which had 1,089 members.

With the roaring economy of the 1990's, everyone became a leasing broker, including the dealers who were demanding higher and higher referral fees for their business. Franchise business was booming, and so was leasing of franchises as well as when they had an SBA loan as the covenant not to lease was changed. Second mortgage made subprime leasing with very high rates acceptable. The trend then turned to "automated credit scoring" and “application only” kept growing up to $150,000 for when once what was standard requirement were a financial statement, tax return, and personal financial statement requirement for small leases especially.

Computerized credit scoring became very popular, not only for marketing purposes, but for approving credit. Often a consumer credit report, time in business, and average bank account was all that was needed. Certain professions such as medical or dental, the limit on “app. only” was higher than others.

Colonial Pacific Leasing developed Pegasus a program for lessors who generated a specific volume and could use the credit scoring system, this may be likened to a franchise operation as the leasing company had a territory and franchise. First Sierra took this a step further by combining many independent lessors into one large company for the volume, making them “corporate partners” and companies such as Republic Leasing of South Carolina began syndicating leases with banks, mortgage companies and others who would underwrite the lease portfolio, enabling them to extend their lines of credit for more leases. (7)

In 1998 and 1999 companies were being merged into large groups, and this trend continued into a downturn in 2000 that saw many companies closed and Leasing News started its well-read “The List”, eventually labeling the list of companies closed as being hit by "The Perfect Storm" after a movie came out starring George Clooney who takes his boat out into weather that the ship no longer can ride. (8)

As the companies merged or went out of business, they rose up again as independents, small lessors who were basically brokers, but instead of using company documents, the thrust was "originators," who began to act as if they were a "funder" as the contracts were theirs, and often the check emanated from them as that was the discounting arrangement with the actual funding source. First Sierra and Colonial grew at terrific rates during this short time period. General Electric was buying leasing companies left and right.

Some of the originators had warehouse lines to fund the leases and then when all the parts were in place, or a group, they were then packaged and discounted. Computers made it simpler. Summit, Lease Team, among others came up with affordable software packages. Companies such as Pioneer Capital gave brokers not only internet access, but software to type and fund documents very simply. (9)

It was the “Age of the Broker” who often was making 15 points on a transaction. Several, such as Balboa Capital, would pay up to 20%, discounting some of the profit in advance from the residual or Evergreen Lease clause. (10)

As of 2005 the National Association of Equipment Brokers (NAELB) had grown to 648 members, where the now Equipment Leasing and Finance Association (ELFA) who had 850 members in 2000 was down to 780 members, and the United Association of Equipment Lessors who was at 589 members in the year 2000 was down to 297 members. It was a “no holds bar the door” and get the deal funded as quickly as you could, “due diligence” out the window, and the race was on who could bring in the most business and earn the most in commissions---take the money and run. Everyone wanted to be an independent broker and earn the generous commissions.

(5) http://www.leasingnews.org/list_alpha_new.htm#allco

(6) http://www.leasingnews.org/Conscious-Top%20Stories/WAEL_Hist_I.htm

(7) http://www.leasingnews.org/Conscious-Top%20Stories/CLP.htm

(8) http://two.leasingnews.org/archives/November/11-29-00.htm

(9) http://www.leasingnews.org/archives/April%202008/04-02-08.htm#adv
http://two.leasingnews.org/archives/November%202001/11-09-01.htm

(10) http://two.leasingnews.org/archives/May01/5-29-01.htm
http://www.leasingnews.org/archives/September%202004/9-21-04.htm#sales
http://www.leasingnews.org/Conscious-Top%20Stories/Salesman_Survey_update.htm
http://www.leasingnews.org/archives/October%202006/10-18-06.htm#points

(Coda. At the time, I was Sales Manager of Triple C Leasing, and the top salesman.  I was on the board of the WAEL (Western Association of Equipment Lessors - at the Time – then UAEL and now NEFA) and asked the board to make a presentation on letting brokers join. NAELB  (now AACFB) was in formation for brokers only.  I had Sue’s eldest daughter work the laptop with information and some entertainment, rented a screen, and we practiced on the presentation. The motion to allow brokers to join was overwhelmingly turned down. A little while later, I resigned from WAEL as well as Triple C Leasing and joined NAELB, to become broker, then non-recourse and recourse lines, partners, and an executive board member of a bank). Kit Menkin).


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License and Registration United States

A State-by-State Analysis of License Requirements for Lenders and Brokers

Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia

Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland

Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermon
Virginia
Washington
West Virginia
Wisconsin
Wyoming
Washington, D.C.
Puerto Rico
  • Virginia sales-based financing disclosure law – effective July 1, 2022
  • California commercial financing disclosures – effective December 9, 2022
  • Utah commercial financing disclosures – effective January 1, 2023
  • Florida disclosure law and broker law  -  effective July 1, 2023
  • New York commercial financing disclosure law – effective August 1, 2023
  • Connecticut commercial financing disclosure law – effective January 1, 2024
  • Georgia commercial financing disclosure law – effective January 1, 2024
  • Kansas Commercial Financing disclosure law - effective July 1, 2024

Six States Reintroduce Commercial Disclosure Financing Bills

  • North Carolina – Small Business Truth in Financing Act
  • Missouri – Commercial Financing Disclosure Law
  • New Jersey – An Act concerning commercial financing
  • Illinois – Small Business Truth in Lending Act
  • California – Commercial Financing Bill
  • New York – An Act to amend the banking law and the administrative code of the city of New York, in relation to regulating commercial finance licensing

ELFA Interactive State Map to Track Financial Disclosure Regulation Activity
Free to Non-Members --- PDF Required
https://www.elfaonline.org/advocacy/state-issues/lenders-license

Why You Should Not Ignore Disclosure Laws
https://leasingnews.org/archives/Jul2024/07_15.htm#why

Illinois Disclosure, Licensing, and Database Bills
A significant shift in the state's financial landscape
https://leasingnews.org/archives/Jun2024/06_28.htm#ill

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Balboa Capital Available Position
Program Manager II- Equipment Broker Sales

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

March CapEx Finance Index Reveals New Business Volumes Grew;
Financial Conditions Weakened

The Equipment Leasing and Finance Association released the March 2025 CapEx Finance Index (CFI). Highlights from the Index include:

  • FORECAST: Growth in new business volumes suggests a 1.5% rise in new durable goods orders in March.
  • Total new business volume (NBV) rose by $10.4 billion seasonally adjusted among surveyed ELFA member companies, an increase of 7.0% from the prior month.
  • NBV year-to-date contracted by 0.8% relative to the same period in 2024.
  • Year-over-year, NBV grew by 9.8% on a non-seasonally adjusted basis.
  • Charge-offs (losses) rose to 0.60%, the highest level since September 2020.


Leigh Lytle, President and CEO at ELFA, said, “The CFI sent conflicting messages in March. New equipment demand rose for the second consecutive month and was in line with its recent two-year trend,”

“However, financial conditions weakened, with aging receivables increasing and the average loss rate rising to its highest level in nearly five years. Economic uncertainty remains exceptionally elevated, and the rise in charge-offs may be an early indication that end-users are experiencing financial stress. The strength in equipment demand should not be understated – the sector is on solid ground – but I’ll be watching the financial data closely for signs of further deterioration as we enter what is expected to be a volatile spring and summer.”

New business volumes rose for the second consecutive month. Volumes continued to make up ground after a disappointing start to the year. New business activity grew by 7.0%, the third-highest growth rate in the last two years. The small ticket index shot up by 21.7%, surpassing the hot February rate of 15.9%. Financing activity picked up across institution types, with banks and captives posting double-digit monthly growth rates, while activity at independents expanded by just over 2%. Volume growth at banks surged over the last 12 months, reaching a yearly growth rate of 32.3%. Activity at captives and independents shrank over the same period.

The pace of job losses quickened. Employment levels in the equipment financing industry dropped 2.7% over the 12 months ending in March. Job losses were broad-based, with all three institution types reporting a yearly contraction in employment.

Credit approvals rose to the highest level since August 2024. The overall credit approval rate rose to 76.0%, an increase of almost 0.7 percentage points. The rate remains above the recent two-year average of 75.5%.

Financial conditions weakened further. Aging receivables over 30 days rose to 2.3%, an increase of a quarter of a percentage point. Aging receivables increased at banks and independents but declined at captives. Charge-offs rose for the second consecutive month to 0.60%, the highest loss rate since September 2020. The trailing six-month average rose to 0.50% and has been trending up over the last five months. It is now more elevated than at any point from 2015 through 2019.

“Industry new business volume of $10.4 billion was very strong in March, which may represent a pull-forward of equipment orders ahead of tariffs going into effect,” said Alan Sikora, CEO of First American Equipment Finance, an RBC / City National Company. “As some clients are cautious due to economic uncertainty, the equipment leasing and finance industry will continue to play a key role in helping organizations navigate their changing environment.” 

Industry Confidence
The Monthly Confidence Index from ELFA’s affiliate, the Equipment Leasing & Finance Foundation, dropped to 41.9 in April from 58.1 the previous month, as tariffs spur uncertainty about conditions over the next four months.

More detail on the data and methodology can be found at www.elfaonline.org/CFI

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


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

2025 Economic Outlook: Weaker Growth Expected as Tariffs,
Uncertainty Complicate Business Climate

Equipment & Software Investment Projected to Expand 2.8% in 2025; GDP to Expand 1.2%

Washington, DC,– After starting 2025 in a generally solid position, the U.S. economic outlook has worsened amid sharp declines in consumer and business sentiment, rapidly rising inflation expectations, and sky-high policy uncertainty. As a result, the Q2 update of the 2025 Equipment Leasing & Finance U.S. Economic Outlook has revised its 2025 equipment and software investment forecast to 2.8% (down from 4.7%) and its U.S. GDP forecast to 1.2% (down from 2.7%). The report, which was released today by the Equipment Leasing & Finance Foundation, forecasts that a “growth pause” by the end of 2025 is more likely than a sustained downturn, although the probability of a near-term recession has clearly risen.

Leigh Lytle, President of the Foundation, and President & CEO of the Equipment Leasing and Finance Association, said, “Extraordinarily high economic uncertainty related to U.S. trade policy has sent shockwaves through the economy, prompting large swings in financial markets and a sharp reduction in equipment finance industry confidence. At the same time, labor markets remain healthy, consumer spending bounced back in March, and the manufacturing sector appears to be holding its own. The elephant in the room is tariffs: if the administration ultimately moves forward with the “reciprocal” tariff rates announced in early April, they will weigh heavily on the economy’s growth prospects this year. On the other hand, if bilateral or multilateral deals are struck with key trading partners and these additional tariffs are avoided, the business climate would quickly improve.”

Highlights from the 2025 Outlook include:

  • U.S. economy: Tariffs and their related uncertainty effects are expected to weigh on the economy, with most economic forecasts predicting weak or negative GDP growth, higher inflation, and lower household disposable income this year.
  • Manufacturing: The manufacturing sector has exhibited noticeable improvement in recent months. Several measures of industrial activity have strengthened, including industrial production, capacity utilization, and the ISM Purchasing Managers Index for Manufacturing. Moreover, shipments and new orders of core capital goods have been generally positive in recent months, driven by strong growth in primary metals, computers, and electronics. These readings may reflect tariff-related pull-forward activity, and it is noteworthy that new business volume is roughly flat year-to-date while industry confidence has plummeted as measured by ELFA’s Capex Finance Index and ELFF’s Monthly Confidence Index, respectively.
  • Equipment and software investment: First-quarter investment in equipment and software is expected to bounce back after a poor Q4, in part due to a “pull-forward” effect as end-users attempt to front-run tariffs. However, uncertainty around trade policy and heightened concerns about the overall economic climate are expected to drag on investment growth over the next six months.
  • Equipment finance industry: Higher equipment prices due to tariffs could lead more end-users to explore financing options. On balance, however, the impact of tariffs to the equipment finance industry is likely to be negative, as this issue has coincided with a sharp increase in economic uncertainty, which often results in firms delaying major investment decisions until the outlook becomes clearer. The new tariff regime is likely to result in slower economic growth and a weaker environment for equipment and software investment for the remainder of the year.

The Foundation-Keybridge U.S. Equipment & Software Investment Momentum Monitor, which is released in conjunction with the Economic Outlook, has been revised to track seven equipment and software investment verticals from 12 previously. In addition, the Momentum Monitor Sector Matrix provides a customized data visualization of current values of each of the seven verticals based on recent momentum and historical strength. This month four verticals are weak but accelerating, while three are weak and decelerating. Over the next six months the Foundation expects the following trends to materialize on a year-over-year basis:

  • Agriculture machinery investment growth may improve modestly but is likely to remain weak overall.
  • Construction machinery investment growth is expected to remain negative. 
  • Energy equipment investment growth is expected to improve modestly.
  • Industrial equipment investment growth is likely to slow and may turn negative, but recent movement (if sustained) is encouraging.
  • Medical equipment investment growth is expected to improve.
  • Technology equipment and software investment should strengthen.
  • Transportation investment growth is likely to contract.

The Foundation produces the Equipment Leasing & Finance U.S. Economic Outlook report in partnership with economic and public policy consulting firm Keybridge Research. The annual economic forecast provides the U.S. macroeconomic outlook, credit market conditions, and key economic indicators. The Foundation's Q2 report has been revised to include more data visualization for enhanced clarity and readability. The report will be updated quarterly throughout 2025.

Download the full report at https://www.leasefoundation.org/industry-resources/u-s-economic-outlook/.

Download the Momentum Monitor at https://www.leasefoundation.org/industry-resources/momentum-monitor

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


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CLFP Academy Postings and Information
May to October 2025


The Academy for Lease and Finance Professionals (ALFP) is a three-day event,  designed to fully prepare an individual to sit for the CLFP exam assuming the attendee has already studied. A trend has begun in providing virtual online sessions.

During the first two days, all of the required sections of the CLFP exam are covered in-depth. On the third day, the exam is offered but is not mandatory and may be taken on another day.

Students are strongly advised to have read and studied The Certified Lease & Finance Professionals' Handbook prior to attending the class in order to ensure success. There also is a “Mentor Program” for individuals.

Here are the latest postings:

Online, Public ALFP Hosted by US Bank Equipment Finance
May 5 – 7, 2025

Private, In-Person ALFP Hosted by FCL

May 12 – 13, 2025

Huntington In-Person Private ALFP

May 14 – 15, 2025

DEXT CAPIAL, Private, In Person ALFP

June 5 – 6, 2025

Northland Capital, Public, Online

June 12 – 13, 2025

Wintrust Commercial Finance, Public, In-Person

August 13 – 14, 2025

Stearns Bank, Public, In-Person

September 23 - 24,  2025

DLL, Online , Private

October 6-7, 2025

NEMF, 
 Online, Public ALFP
October 9 – 10, 2025

GreatAmerica Financial Services, Private, In-Person

October 20 – 21, 2025

Tel, Public, In-Person

November 4-5, 2025

Private, In-Person ALFP Hosted by GreatAmerica Financial Services

October 20 – 21, 2025

How to Become a CLFP
https://clfpfoundation.org/how-to-become-a-clfp/


Mel Vinson, CLFP, Director of Academies, VP of Marketing and Development
Mel@clfpfoundation.orghttps://clfpfoundation.org

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News Briefs

A Sign That Consumers Are Anxious  
    They’re Cutting Back on Snacks
https://www.nytimes.com/2025/04/24/business/pepsico-earnings-economy-tariffs.html

Burger Giant to Close 200 Stores
https://www.qsrmagazine.com/story/jack-in-the-box-mulls-selling-del-taco/

Celebrating Excellence in Leasing: NVLA’s 2025
    Award Honorees Drive the Industry Forward
https://www.automotive-fleet.com/10239751/celebrating-excellence-in-leasing-nvlas-2025-award-honorees-drive-the-industry

Tariff Update April 24: Looming Parts
    Tariffs Create New Cost Pressures
https://www.automotive-fleet.com/10235494/fleet-industry-braces-for-impact-as-tariff-battles-unfold

The Beige Book-Summary of Current Conditions by
    Federal Reserve District - April, 2025
https://www.federalreserve.gov/monetarypolicy/files/BeigeBook_20250423.pdf

GATX Reports Net Income of $78.6 Million
https://ir.gatx.com/press-releases/press-release-details/2025/GATX-Corporation-Reports-2025-First-Quarter-Results/default.aspx

 

 

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YouTube turns 20 years old
    How it changed TV as we know it
https://www.cnet.com/tech/services-and-software/youtubes-first-video-is-20-years-old-how-things-have-changed/


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Sports Briefs---

Grading every pick of the first round of the NFL Draft
https://nfldraft.theringer.com/draft-grades

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California News Briefs---

San Francisco Bay Area tech giant Intel's
  new CEO confirms layoffs, orders more in-office days
https://www.sfgate.com/tech/article/intel-new-ceo-plans-layoffs-20293289.php

As traffic fears subside, former critics reconsider
  San Francisco's new oceanfront
https://www.sfgate.com/politics/article/sf-great-highway-new-park-winning-over-critics-20292838.php park

Doug Sovern, acclaimed KCBS radio host,
  to retire after 35 years
https://www.sfgate.com/sf-culture/article/acclaimed-bay-area-radio-host-retiring-20292880.ph

How a sleepy coastal California city became
    a restaurant powerhouse
https://www.sfgate.com/travel/article/carlsbad-restaurants-powerhouse-20286610.php

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Gimme that Wine

 

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

Breakthru Beverage Group Extends Partnership with
    Folio Fine Wine Partners into Arizona and California
https://www.winebusiness.com/news/article/301209

American Idol’ producers seek to auction their
160-acre California winery — where A-list guests
https://nypost.com/2025/04/22/real-estate/american-idol-producers-to-auction-off-their-winery/

Jackson Family Wines Trims Headcount
https://www.winebusiness.com/news/article/300944

This Break Out Wine Brand is the
Antithesis of Low Alcohol                
https://www.winebusiness.com/news/article/301062

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----------------------------------------------------------------

This Day in History

https://leasingnews.org/archives/Apr2022/04_25.htm#history

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SuDoku

The object is to insert the numbers in the boxes to satisfy only one condition: each row, column and 3x3 box must contain the digits 1 through 9 exactly once. What could be simpler?

https://sudoku.com/

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Daily Puzzle

How to play:
http://www.setgame.com/set/puzzle_frame.htm

Refresh for current date:
http://www.setgame.com/set/puzzle_frame.htm

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http://www.gasbuddy.com/
http://www.gasbuddy.com/GB_Map_Gas_Prices.aspx
http://www.gasbuddy.com/GB_Mobile_Instructions.aspx

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Weather

See USA map, click to specific area, no commercials

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Top Stories

(chronological order)

- ELFA Convention Recap
    By Bruce Kropschot, Sr Managing Director, The Alta Group
- Chesswood Group Limited Files BK
  It Looks like the End of Chesswood Group
    By Christopher Menkin, Editor
- Brokers, Funders Gather
  at the 2024 Brokers Expo in NYC
    By Don Cosenza, CLFP
- Brean Capital Upsizes Corporate Note
    Financing for Dext Capital
- Roglieri Release From Jail Doubtful
  With Revelation Of Violent Text
   Message To Ex-Wife
    By Ken Greene, Leasing News Emeritus
- 2024 NEFA Fall Conference Report –
  Victory Requires Investment
    By Vicki Shimkus, CLFP, Balboa Capital
- Brean Capital Upsizes Corporate Note
    Financing for Dext Capital
- Ansley Park Capital Surpasses $200 Million
    in Funding in First Quarter of Operation
- Ansley Park Capital Selects LTi Technology Solutions’
    ASPIRE Platform to Accelerate Market Launch
- Apple iPhone14 or later Satellite Connection
    When Off the Grid with no Cellular of Wi-FI Coverage
- Survey Finds Small-Business
  Confidence on Upswing
    By John Reosti, American Banker
- Dext Capital Relocates to New
    Office Space to Support Rapid Growth
- Dext Capital Secures $200MM Credit Facility
    with Deutsche Bank
- Law Firm of Berger Montague, Toronto, Canada
   Files Action Against Chesswood Group Limited
- North Mill Sues Traction Capital and Leasing
    Ken Greene, Esq., Leasing New Emeritus
- Equify Financial, Fort Worth, Texas
    Seems To Be In Trouble
- Record-Breaking Attendance Forecast for
    Equipment Leasing and Finance Convention
   By Bruce Kropschot, Senior Managing Partner
    The Alta Group
- ELFA Inducts Tony Golobic and Bruce Kropschot
    into Equipment Finance Hall of Fame
- ELFA Announces New Board of Directors
   at Annual Convention
- Equipment Finance Industry Confidence
    Up Again in September
- Recap: Canadian Finance and Leasing Association Conference
    By Hugh Swandel, President, Meridian OneCap
- ELFA Announces Donna Yanuzzi Will Receive
    2024 Distinguished Service Award
- M2 Equipment Finance Calls Out: "We Quit"
    Doors to Close
- AACFB Expo Recap: "Great Educational Sessions
  and Plenty of Opportunities to Network" 
    By Vicki Shimkus, CLFP, Balboa Capital
- For Noncompete’s Sake
    By Ken Greene, Leasing News Emeritus
- Banking Shows Resilience in Second Quarter
    FDIC Reports Net Income of $71.5 Billion
- Don’t take the bait on phishing scams
    By Alexandra House, Federal Trade Commission
- Women in Leasing Picking Up Steam
    By Sloan Schickler, Esq.
- In Celebration Wayne Mosley, Jr.
  Founder GE Leasing
    April 8, 1954 – August 23, 2024
- ELFA Announces Channel is Winner of 2024
    Operations and Technology Excellence
- Randy Haug, EVP/Co-Founder, Comments on what
    He Experienced from Americorp & LTi Relationship
- North Mill Equipment Finance Announces
    $404 Million Term Securitization
- Facts About the so-called $7,500 EV Credit
    Electrek.com
- Americorp Elevates Equipment Finance Operations  
    with LTi Technology Solutions’ ASPIRE Platform
- Sudhir Amembal Announces Training Scholarships
    to Industry Newcomers
- Trustee Seeks Denial of Kris Roglieri Discharge
  in Chapter 7 Based on Massive Fraud Scheme 
    By Ken Greene, Leasing News Emeritus
- The Unfortunate Tale of Dallin Hawkins
    By Ken Greene, Leasing New Emeritus 
- ELFA Reports Leasing New Business Up
    to $11.1 Billion July from  $10 Billion in June
- Axis Auto Finance Provides Update
    on Strategic Review Process
- ELFF Monthly Confidence Index Hits
    Highest Level since Febraury 2022
- Latest News on Chesswood Group in Canada:
    CB Leaseco Holdings
- Canadian Stock Exchange Halts Trading
    Chesswood Group Limited Stock
- CLFP Foundation Adds 14 New CLFPs
    with Photos
- Lion Electric and Pride Truck Remain
    in Trouble with Operations in Canada and U.S.
- Six Month 2024 Leasing-Finance Associations'
    Membership Count and by Category
- Lion Electric Slashes Workforce Again as
     Losses Widen and Stock Shares Fall
- Charging an Electric Vehicle is Cheaper Than
     Filling a Gas Tank Everywhere in America
- North Mill Equipment Finance Sets Monthly
    Origination Record in July; Adds New Employees
- CLFP Foundation Adds 12 New CLFPs
    with Photographs
- Six-Month Review Of Commercial Equipment
Finance And Leasing Industry
- Major Bankruptcy Affects the Truck Industry
By James Menzies, Trucknews.com
- Readers Concerned about Chesswood Group
  Questions on the Postponement due to
   Inaccuarate Financial Reporting
By Kit Menkin, Editor
- Chesswood Group to file restated Q1 2024 results
a Result of Prior Disclosed Errors
- The Broker’s Limited Disclosure Law Obligations
Ken Greene, Leasing New Emeritus
- Why You Should Not Ignore Disclosure Laws
    Ken Greene, Leasing New Emeritus
- DFPI Revokes Finance Lending License
    of Synapse Credit LLC
- Federal Reserve Board fines Citigroup $60.6 million
    for violating the Board’s 2020 enforcement action
- The Extinction of Cash Transaction
    Around the World
- Chesswood Group Limited Stock Falls Almost 20%
    406 Full-Time Employees
- Housing Prices Perspective from
    Case-Schiller Index
By James Johnson
- The Continuing Tale of Kris Roglieri
  and Prime Capital Ventures et al.
   By Ken Greene, Leasing News Emeritus
- Ryan Marr Resigns as Chesswood CEO
    Financial Waiver expires on Monday, July 15
- Chesswood Group Limited Issues Press Release
    Still Working on Situation
- Lawyer Says Deal Close in
    Kris Roglieri, Capital Prime Bankruptcies
- Clicklease Completes Securitization, Selling $220M
    in Bonds to Expand Innovative Leasing Solutions
- Better Tools. Better Data. Better Decisions
    AI program to help bring out best attributes in Hiring
- Illinois Disclosure, Licensing, and Database Bills
 A significant shift in the state's financial landscape
    By Ken Greene, Leasing News Emeritus
- Connecticut Disclosure Law Kicks
  In July 1, 2024
    By Ken Greene, Leasing New Emeritus
- GreatAmerica Financial Services Celebration
by Lorraine Perkins, CLFP, Vendor Finance
- Sad News about Chesswood Group Limited
  Sorry to See Barry Shafran Go in 2020
By Christopher Menkin, Editor
- ZRG Secures $120 Million In Debt Financing
  From Main Street Capital
    By Scott A. Scanlon,  Co-CEO Hunt Scanion Venture
- CLFP Foundation Add 18 New CLFPs
  With Photos
- CLFP Growth by Company
    Three or More CLFP’s
- New Kansas Disclosure Law
    Ken Greene, Leasing New Emeritus
- Roglieri in Jail Without Bail Update
    By Ken Greene, Leasing New Emeritus
- Americans Didn't Let Inflation Spoil Their Appetite
   By Felix Richter, Statista
- Exemptions May be Confusing
    By Keith Bishop, JD Supra
- CLFP Foundation Adds 19 New CLFPs
    With Photos
- QuickFi Wins Best of Show
    at Finovate Spring 2024
- Roglieri Arrested for Wire Fraud
    By Ken Greene, Leasing New Emeritus
- Prime Capital Ventures Owner Arrested for Fraud
    if convicted...faces up to 20 years in prison
- Roglieri Allegedly Threatens to Murder
   FBI Agent, Judge, and Trustee
    Ken Greene, Leasing New Emeritus
- Non-Competes Are Out the Window
    By Sloan Schickler, Esq.
- Summation of News Reports of Financial Technology
    Companies Source of Funding Shutting Down
- Effort to Provide Restroom Access to
    Male and Female Truckers Continues
- CLFP Foundation Surpasses 1,500 Members
    Sharon Pietras Becomes Number 1,500
- Has Roglieri Left the Building?
    Ken Greene, Leasing New Emeritus
- Roglieri's assets heading for liquidation
    in Chapter 7 bankruptcy
- CLFP Foundation Adds 11 New CLFPs
    With Photos
- Update: Ascentium vs. Premiere Copier
    Ken Greene, Leasing News Emeritus
- Hiring the Right Salesperson
    "Ducks in Eagle School" by Steve Chriest
- ELFF Reports 2nd Month of Confidence Down
    May Fell to 50.7 d from April 52.9
- Five Key Financial Insights
    By Randy Haug, LTi Technology Solutions
- How People Get Around, Car, Pubic Transportation,  
    Walking, Biking in America, Europe, and Asia
- This Year’s ELFA Legal Forum Was a Total Success
    By Marshall Goldberg, Leasing News Legal Editor
- Six Types of Bankruptcy
    By Ken Greene,  Esq., Leasing News Emeritus
- Pigs Get Fat, Hogs Get Slaughtered:
  The Unfortunate Tale Of Kris Roglieri
    By Ken Greene, Leasing News Emeritus
- Major Change in the Works Regarding
Changing Federal Law re: Cannabis
- Private Equity and Venture Capital Industry
    Shows Resilience and Optimism in 2024
- CLFP Foundation Adds 18 New CLFPs
    With Photos
- Tesla Has Lowest Maintenance
  and Repair Cost of Any Brand
    By Mathew W. Daus, Esq.
- FTC Bans Noncompete Agreements
    By Ken Greene, Leasing News Emeritus
- American Association of Commerce Finance
  Brokers Commercial Finance Expo
    By Vicki Shimkus, Balboa Capital Relationship Manager
- Dext Capital Announces Optimized Document
    Management with AutoDocs on DART
- Exploring Opportunities: A Review of the
   35th Annual ELFA National Funding Conference
    By Edward P. Kaye, Leasing News Advisor
- Opportunities Increase for Non-Bank Institutions
    By Jim Jackson, Head of the Alta Group
- Female Leasing/Finance Association Presidents
    Updated
- SFNet Reports Asset-based Lenders
    Performed Well Overall in Q4
- List of Companies Not Taking
    Application-Only Is Growing
- Are Commercial Finance Brokers An Endangered Species?
    By Kenneth C. Greene, AACFB General Counsel
- Barry Reitman Passes Away
    Virtual Celebration of Life Planned
- New Breed Growing in
  Commercial Finance Funding
    By Randy Haug, LTi Technology
- NEFA 2024 Spring Conference Summary
    By Theresa Kabot, CLFP
- Dext Capital Upsizes Corporate Note Financing
- Is Broker Fee Splitting in California Legal?
    By Ken Greene, Leasing News
- Gender Pay Gap Visualized
- Tri Counties Bank Equipment Finance
    Department Shut Down
- "Buckle Up!" Quality Equipment Finance
    Not Funding Transactions Internally
- The Commercial Real Estate Exposure
    of the Largest U.S. Banks
- Please Fasten Your Seatbelts!
    by Randy Haug, LTi Technology
- Part II -Great Time to be a True Independent or an
   Equipment Finance company that Acts Independent
     by Randy Haug, LTi
- 2024 World Leasing Book
   Available digitally or hardback
- Great Time to be a True Independent or an
Equipment Finance company that Acts Independent
    By Randy Haug, LTi
- Bob Rodi on LinkedIn
    Long-Time Veteran in Commercial Finance
- Video: Tips for Equipment Finance Beginners
    with Steve Geller, Equipment Finance Veteran
- Commercial Financial View by Dale Kluga, CPA,
    Well-Known Equipment Finance Founder
- Update on Compliance Under The Small
   Business Data Collection Rule
    By Sloan Schickler, Esq.
- Which Affects Banks and Use of Funds Available
    By Dale R. Kluga, CPA, Experienced Funder
- Ken Greene, Leasing Person
    of the Year for 2023
- The QuickFi Embedded Finance Platform
    Wins 2024 BIG Innovation Award
- Brean Capital Investment Banking
    Strong Momentum Heading into 2024
- Jim Merrilees Joins the Leasing News
    Advisory Board
- Changes in Banks, Particularly Regional, Moving
   Away from Leasing, Third Party, and Vendor Finance
    By Randy Haug, LTi Technology Solutions
- Who Must Obtain a Lender's License
    By Marshall Goldeberg, Leasing News Legal Editor
- Assessing the Ripple Effects of Commercial Disclosure Laws
    By Kenneth C. Greene, Leasing News Advisor Emeritus
- Housing Report, September 2023
    The Virginia Tech - USDA Forest Service
- Channel Announces Successful Close of $190MM Securitization
- 33% of Small Businesses Fail
    Due to Lack of Capital
- Behind the Headlines on Chesswood Group Limited
    and Their Commercial Finance/Leasing Companies
- That Voice on the Phone Using Artificial Intelligence
    By Sean Murray, Publisher, deBanked
- Pennsylvania Hops Aboard the Disclosure Bandwagon
    By Kenneth C. Greene, Leasing News Emeritus
- Banks Facing Additional Issues in Commercial Finance
  and Leasing Sides of Their Businesses
    by Randy Haug, LTi Technology Solutions
- Alliance Funding Group Announces They Have
    Formed a New Strategy Mid-Ticket Business Unit
- Leasing News Has Confirmed Key Equipment Finance
  Exiting Vendor Business
    By Christopher Menkin, Publisher
- The Corporate Transparency Act of 2024
  Many in Business Are Not Aware  
    By Kenneth C. Greene, Leasing News Emeritus
- Iowa Bank Failure Tied to Bad Trucking Loans
    By Craig Fuller, CEO and Founder, Freight Waves
- NVLA 2023 Annual Conference Recap By Edward P. Kaye
- Highlights from NEFA Funding Symposium By Mel Vinson, CLFP
- Rosanne Wilson CLFP, BPB, Passes Away
A Very Close Friend of Mine and Our Industry
By Christopher Menkin, Publisher and Editor
The Top Four Leasing/Finance Funder Websites
- Certificate of Insurance for Finance, Lease or Loan
Why it is Very Important
- North Mill Equipment Finance Hits $1B in Originations
on its Anniversary of Recapitalization
- TopMark Funding Marks Another Quarter of Record
Breaking Growth for the Fifth Consecutive Quarter
Settlement Costs vs. Litigation Costs