New Hires/Promotions in the Leasing Business
and Related Industries

Holly Cahoon was promoted at Onset Financial to Documentation Specialist III, Draper, Utah. SHe is located in West Jordan, Utah. She joined Onset as Documentation Specialist II, (June, 2012 - February, 2026); Administrative Assistant, Pacific Western Equipment Finance ( January, 2012 - June, 2012); Executive Assistant, West Valley City (2011 -2012).
https://www.linkedin.com/in/holly-cahoon-75277956/

Tiffany Kline was hired as Documentation Specialist III at Onset Financial III, Draper, Utah. She is located in the Salt Lake City Metropolitan Area. She joined Onset October, 2015, as Administrative Assistant, promoted Documentation Specialist II, (October, 2015 - Present).
https://www.linkedin.com/in/tiffany-kline-162bb6116/

Kit West was hired as VP Broker Relations, 360 Equipment Finance, Austin, Texas. He is working remote from Hugwater, Wyoming, Previously, he was Director of Business Development, Broker Relations, CH Brown Co., LLC; Business Developer, TeTon Biz, Freelance, Wyoming remote; Owner, Kit West Motors LLC (November, 2015 - February, 2022).
Full Bio: https://www.linkedin.com/in/kittwest/details/experience/
https://www.linkedin.com/in/kittwest/

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CapEx Finance Index January 2026:
New Equipment Demand Hit an All-Time High

The latest CapEx Finance Index (CFI), released today by the Equipment Leasing & Finance Association (ELFA), showed that demand for equipment started off 2026 at a sprinter’s pace. January new business volumes (NBV) reached their highest dollar amount in the survey's two decades, driven in large part by financing activity at manufacturers. Financial conditions also improved, a sign that a prolonged Fed pause is unlikely to shake industry strength.

• Total NBV among surveyed ELFA member companies was $11.6 billion on a seasonally adjusted basis.
• Year-over-year, NBV increased by 30.1% on a non-seasonally adjusted basis.

“Just as we expected, the equipment finance industry had a strong start to 2026. New activity surged to its highest monthly dollar amount ever, with much of the gain coming from equipment producers,” said Leigh Lytle, President and CEO at ELFA. “The loss rate retreated after rising at the end of last year, and the average delinquency rate remained stable. It’s still early, but I’m optimistic that continued AI investment will translate into another year of strong growth in new financing activity, even if the Fed decides to put rate cuts on ice for the foreseeable future.”

Equipment demand posted its largest monthly increase ever. Total NBV grew by $11.6 billion in January, an increase of 7.8% from the previous month. The January reading is the largest one-month increase in dollar terms in the two-decade history of the index. The total new volume series tracks the amount of new activity added by banks, independents, and captives in a given month. The January spike in total new volume caused the yearly change to surge by 30%. It was the largest 12-month change since February 2018.

Small ticket volume growth tracks broader economic conditions and is an important barometer of aggregate demand for equipment. Small ticket deals grew by $5.3 billion, up 5.5% from December.

Activity at banks dropped by 11.7% from the prior month, while new volumes at independents fell by 2.5%, but the monthly dollar amount remained just slightly below the all-time high set in December 2025. New deals at captives grew by 14.9%. Post-pandemic activity continues to be driven by activity at captives and independents.

The overall credit approval rate dropped for a second consecutive month. The industry-wide average dropped to 76.8% in January, down 1.3 percentage points. While the overall rate has been trending down lately, it remains elevated compared to the period immediately following the pandemic. The average small ticket approval rate ticked down from the prior month to 80.9% and remained near its 2025 average of 80.6%. The rate at banks dropped 1.7 percentage points to 78.9%. The rate at captives rose for the first time in five months, while the approval rate at independents fell by 4 percentage points.

Delinquencies edged up, but losses plummeted. The overall delinquency rate edged up to 2.1% in January. The industry-wide average remained in the middle of its trailing two-year range of 1.8% to 2.2%. The average rates at banks and captives were both up slightly, while the delinquency rate at independents edged down.

The overall loss rate dropped by 0.1 percentage points to 0.46% in January. The January drop more than offset the sharp increase at the end of last year. The average loss rate for small ticket deals also dropped by nearly 0.1 percentage points. The average loss rate for banks edged down from the prior month, while the rate for captives was unchanged. The rate at independents fell sharply by 0.28 percentage points, the largest decrease since March of last year.

Providing industry perspective Christopher Enbom, CEO & Chairman of AP Equipment Financing and an ELFA member, commented on the complexities of his company’s fleet management business in the current market: "We started a truck rental and fleet management division in 2024, and we are rushing to implement new technology around our fleet offerings that will better consolidate accident management, DOT compliance, equipment returns, transportation of assets, telematic information, billing and other fleet management information and reporting under on holistic solution. There are also shortages of certain specialized trucks we offer to customers, and we have been scrambling to be sure we can take advantage of market opportunities. Additionally, we are in the process of increasing our line of credit by $100 million and it has been somewhat delayed, which is stressful due to our high growth."

Industry Confidence
The Monthly Confidence Index for the equipment finance industry (MCI) tracks the sentiment of executives in the industry. The index rose to 67.6 in February, up from 64.6 in January, and the highest level since January 2025.

Technical Note
New business volume data are concurrently seasonally adjusted each month to capture the latest seasonal patterns. Data in previous months and years may change due to updated seasonal factors.

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

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CLFP Foundation Welcomes 13 New CLFPs

The Certified Lease & Finance Professional (CLFP) Foundation is proud to announce that 13 individuals have recently earned their CLFP designation after successfully passing the online proctored CLFP Exam. The newest CLFPs represent a wide range of companies and roles across the equipment finance industry, reflecting a shared commitment to professional excellence and ethical standards. They are:

Seth Davis, CLFP
SVP Business Development, AP Equipment Financing

Stephen Everett, CLFP
Power BI Developer, North Mill Equipment Finance

Collin Ferguson, CLFP
Business Development Manager, Crossroads Equipment Lease & Finance LLC

Savannah Fiocco, CLFP
Manger of Communications and Organizational Development, JB&B Capital LLC

Allison Harris, CLFP
Usage Portfolio Administrator, Stryker

John Hilst, CLFP
Usage Portfolio Administrator, Stryker

Catherine Indiveri, CLFP
Senior Quality Control Specialist, First Commonwealth Bank

Sean Mannion, CLFP
AVP, Project Manager, First American Equipment Finance

Erica May, CLFP
Account Executive, JDR Solutions, Inc.

George Parker, CLFP
CEO, VenSource Capital LLC

Casey Ryan, CLFP
Communications Business Partner, DLL

Aryana, Shaheen, CLFP
Assistant Vice President Project Manager, First American Equipment Finance

Wanru Zhang, CLFP Associate
Vice President, QuickFi by Innovation Finance

Savannah Fiocco attended an ALFP this fall, and shares, “I’ve had the opportunity to work across multiple departments within the equipment finance industry – from operations to sales to marketing.  That broad exposure has given me a well-rounded perspective and appreciation for how each function contributes to exceptional service. I’ve always felt that this compounded knowledge helps me better serve our clients and anticipate challenges. Pursuing my CLFP certification was a natural extension of that mindset, allowing me to deepen my expertise and strengthen the industry areas where I have knowledge gaps. I truly believe that when we silo ourselves into one area of expertise, we limit our impact and growth. Expanding our knowledge beyond our roles makes us stronger teammates and more trusted advisors.”

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

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NMEF Closes $440 Million
NMEF 2026-A Securitization

North Mill Equipment Finance LLC (“NMEF”) announced the successful closing of NMEF Funding 2026-A, a $440 million asset-backed securitization. The transaction marks NMEF’s 11th equipment finance securitization and brings the Company’s total issuance volume to more than $3.5 billion.

Mark Bonanno, President and Chief Revenue Officer of NMEF, said, “We are extremely pleased with the outcome of this transaction.

“The depth of investor participation and the strength of the order book reflect continued confidence in the quality of our originations, the consistency of our credit performance, and the durability of our platform. We are particularly encouraged by the number of new institutional investors who joined this issuance.”

Mitch Tobak, VP Corporate Development, added, “NMEF is grateful for the continued trust of investors and committed execution by our banking partners. With our strong liquidity position, we are focused on serving our origination partners and bringing high quality paper to the ABS capital markets.”

A total of 43 unique investors participated in the transaction, including 12 first-time investors, underscoring broad and expanding market confidence in NMEF’s platform and credit performance.

The transaction was nearly 7 times oversubscribed, generating broad-based demand across the capital structure. The depth and quality of participation supported a highly favorable execution relative to both initial price discussions and the Company’s 2025-B securitization, further demonstrating strong institutional confidence in NMEF’s platform.

NMEF Funding 2026-A is collateralized by a diversified pool of commercial equipment finance receivables originated and serviced by NMEF.

About NMEF
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 https://nmef.com/ and https://www.britecap.com/

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2026 Major Finance/Leasing Conferences
Updated

Attorney Sloan Schickler, Schickler & Schickler will be presenting a legal update for 2026 and moderating a panel on e-signatures and electronic vaulting at

March 4, National Vehicle Leasing Association, Nashville, Tennessee
https://www.nvla.org/page/2026

We are focused on:
• Growing membership across all leasing segments
• Strengthening education year-round
• Building committees that represent both commercial and consumer voices
• Elevating leasing as a disciplined, professional industry 
----     Terry Shebesta, NVLA President

Bob Rodi, Member at Franchise Loans Direct, will cover the Forum for Leasing News readers; his second time attending
March 4-6, Funders Forum/Broker Expo
    Hollywood, Florida. Tee Off Funders Forum 2026
    Dan Marino Guest Speaker
https://myemail.constantcontact.com/---Networking-Starts-Here---Kick-Off-Funders-Forum-at-the-RBFC-Golf-Tournament-.html?soid=1133130637774&aid=jJMUS1-TyJY


Don Cosenza, CLFP,  Senior Vice President, Maxim Commercial Capital, will cover the conference for Leasing News readers:
March 30-April 1, NEFA Spring Conference 
Huntington Beach, CA
https://www.nefassociation.org/event/2026-spring-conference/
 

Randy Haug, LTi Technology Solutions, will be covering the conference for Leasing News readers  ----
April 14-16, ELFA National Funding Conference
    Chicago, Illinois
https://www.elfaonline.org/events/national-funding-conference

Leasing News coverage by Vicki Shimkus, CLFP, Finance, Brokers Relationship Manager, Ameris Bank Equipment
May 5–May 7
American Association of Commercial  Finance Brokers
Hilton Orlando Lake Buena Vista, Disney Springs, Orlando, Florida


Don Cosenza, CLFP,  Senior Vice President, Maxim  Commercial Capital, will cover the conference for Leasing News readers: DeBanked Broker Fair Returns to NYC June 1, 2026 After 1,100 Turn-Out in Miami - https://brokerfair.org/Florida

September 28-30, NEFA Fall Conference
Omni Atlanta Hotel at Centennial Park
https://www.nefassociation.org/event/2026-fall-conference/

October 21-23, AACFB Commercial Financing Expo
Hilton Irvine, Irvine, California
https://community.aacfb.org/events/event-description?CalendarEventKey=068b9817-3c58-4aaf-b21d-01999b13a2e4&Home=%2fevents%2fcalendar

Randy Haug, LTi Technology Solutions, will be covering the conference for Leasing News readersOctober 25–27, ELFA Annual Conference
JW Marriott Desert Springs Resort & Spa, Palm Desert, CA
Online Scheduling Coming later.

Help Wanted Ad
    Ameris Bank Equipment Finance

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Top Originators Keep It Simple
By Scott Wheeler, CLFP

Top originators don’t complicate the sales process—they clarify it. They define the types of transactions that can be won, approved, and funded, and they pursue those opportunities with confidence and enthusiasm. They refuse to waste time on deals with a low probability of funding. Instead, they prequalify early, set high expectations, and communicate boldly about the transactions they want.

Originators Get What They Ask For

Anyone can find a deal. It takes real talent to pursue transactions that can be won, approved, and funded profitably.

Too many originators spend time talking about the lowest end of their credit requirements, the “minimums.” Top originators flip that script. They pursue the highest‑quality opportunities that align with their strengths and their capabilities.

Time is money, and time spent on relationships or transactions that don’t produce results is detrimental to your career. The most successful originators know their sweet spot and focus their energy on those relationships unapologetically.

A Real‑World Example

In the fourth quarter of 2025, I coached an originator who embraced this philosophy. His sales process had become unnecessarily complicated. He was trying to be everything to everyone, and it was costing him time, clarity, and production. I challenged him to simplify:

• Explain his position in the market with clarity and confidence
• Articulate his credit requirements unapologetically
• Tell every vendor and end‑user exactly what he intended to fund
• Describe precisely what those transactions should look like—and why

The results were immediate. By simplifying his message and elevating his expectations, he drove more business, improved his approval ratio, and increased his funding ratio. His relationships became more meaningful because his communication was clearer. He began working smarter instead of harder, and his production increased so significantly that he has raised his 2026 goals.

The Lesson

• Simplicity isn’t a shortcut—it’s a strategy.
• Clarity creates confidence.
• Confidence attracts the right opportunities.
• And the right opportunities drive meaningful, profitable production.

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

 

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Saluting Leasing News Advisor
Terri McNally

President/Founder Global Capital Limited
205 W Wacker Dr. Ste. 730
Chicago, IL, 60606-1468
312-846-6918 x 202
terri@globelease.com
http://www.globalcapitalltd.com

Terri McNally is President and Founder of Global Capital, Ltd.  Global Capital celebrated 25 years in business in November, 2024.  Terri started GCL after leaving the corporate world of equipment financing. She is active in many associations, has won several awards and recognition, and has served as a speaker at conferences all over the world for over 35 years. She is a member of The Chicago Network, other female business organizations, and is a former member of the Board of Directors for the Women’s Business Enterprise Council (WBENC).

Terri is one of only 26 women to be named “Women of Distinction” by WBENC.  She’s engaged in efforts to train and mentor female business owners in the U.S. In 2023, Terri was recognized as one of the Top 50 Notable People in Finance with Crains Chicago.  In December, she was recognized as one of the Top Women in Equipment Leasing by The Monitor.

On her own, Terri is a frequent speaker around the world on the topics of mentoring female entrepreneurs, developing diverse business communities, entrepreneurship, and finance. Some previous speaking engagements include summits in Mexico City, Dubai, Berlin, and the United Kingdom. In 2010, Terri co-founded Women for Wounded Warriors to help spouses and caregivers of military personnel to receive training, mentorship, and ultimately, economic empowerment. Terri serves on the Board of Directors for the American Cancer Society, North Central Region.

News Briefs

Dow drops 800 points as AI disruption fears
  and tariff woes weigh on markets: Live updates
https://www.cnbc.com/2026/02/22/stock-market-today-live-updates.html

FedEx sues U.S. seeking full refund of Trump tariffs
     days after Supreme Court ruling
https://www.cnbc.com/2026/02/23/fedex-trump-trade-tariffs-refunds-supreme-court-lawsuit.html

American homebuyers gain most purchasing power since 2022
    Typical mortgage payments now 8.4% lower than year ago
https://www.foxbusiness.com/economy/american-homebuyers-gain-most-purchasing-power-since-2022

Eli Lilly launches new form of obesity drug Zepbound
     with a month’s worth of doses in one pen
https://www.cnbc.com/2026/02/23/eli-lilly-launches-zepbound-obesity-drug-pen-one-month-doses.html

Former DJ Gets Prison Sentence for
    Scamming World’s Top Airlines
https://www.wsj.com/business/airlines/former-dj-gets-prison-sentence-for-scamming-worlds-top-airlines-57b43b5a?mod=business_lead_story

How the Frozen Housing Market
   Is Battering U.S. Manufacturers
https://www.wsj.com/business/retail/how-the-frozen-housing-market-is-battering-u-s-manufacturers-42f4e3ca?mod=business_lead_pos3

Bed Bath & Beyond Narrows Fourth-Quarter Loss,
    Targets Revenue Growth in 2026
https://www.wsj.com/business/earnings/bed-bath-beyond-narrows-fourth-quarter-loss-targets-revenue-growth-in-2026-5fe62d15?mod=business_feat2_retail_pos3

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The Hockey Goalie Who Saved Team USA
    —and Won America a Gold Medal
https://www.wsj.com/sports/olympics/connor-hellebuyck-hockey-goalie-usa-bd13c69c?st=cVF9MS&reflink=desktopwebshare_permalink

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Sports Briefs

In the shadow of the Super Bowl,
   Great America slowly dies
https://www.sfgate.com/travel/article/super-bowl-great-america-21316236.php

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California News Briefs

Health care unions to end historic strike
   at Kaiser Permanente Health care
https://www.sfgate.com/hawaii/article/best-resort-us-21924486.ph

‘High avalanche danger’ in backcountry Lake Tahoe area
     as watch goes into effect
https://www.sacbee.com/news/weather/article314807292.html

After delays, Council expected to vote on
   $6.4 million for Old Sacramento boardwalk
https://www.sacbee.com/news/local/article314809411.html

Hawaii and California dominate list of best resorts
    in the US
https://www.sfgate.com/hawaii/article/best-resort-us-21924486.php

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Gimme that Wine

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

St. Supéry Estate Is the Place
   To Sip Stylish Sauvignon Blanc
https://www.sonomamag.com/st-supery-estate-is-the-place-to-sip-stylish-sauvignon-blanc/

Bordeaux Claret goes fridge-friendly in a new
     Burgundy bottle in a bid for revival      
https://www.vitisphere.com/news-106053-bordeaux-claret-goes-fridge-friendly-in-a-new-burgundy-bottle-in-a-bid-for-revival.html