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######## 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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Balboa Capital is now
Ameris Bank Equipment Finance

This change will enhance the visibility of our equipment financing products under the strength of the Ameris brand.

Ameris Bank acquired Balboa Capital in 2021, enabling business growth for thousands of small- and medium-sized businesses through flexible equipment financing.

The rebranding does not affect our value proposition, staff roles, work locations or daily operations. We remain committed to providing efficient and customized equipment financing solutions and look forward to continued success as Ameris Bank Equipment Finance.

Phil Silva - President

Jim Grant - Senior Vice President

(Leasing News was informed that Brokers have the new email address and will continue to receive under the Balboa Capital email address. Major changes are underway regarding the new website although Balboa Capital website remains active. - Editor.)

Katie Lopez
Ameris Bank | Communications Director
3490 Piedmont Rd. NE, Suite 750 | Atlanta, GA 30305
(865) 386-3010 | katie.lopez@amerisbank.com

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Raw Facts
By Scott Wheeler, CLFP

In today’s commercial equipment finance and leasing landscape, originators are anticipating further reductions in the cost of capital. Historically, such reductions have translated into lower pricing for vendors and end-users. But that correlation is breaking down. Why? Because while capital costs may be easing, operational expenses—particularly labor and technology—have surged exponentially, compressing margins across the board.

The New Imperative: Profitability, Efficiency, and Quality

To remain viable, industry participants must recalibrate their approach:

Profitability First: Pricing will not drop point-for-point with capital costs, especially for non-investment grade credits. Protecting margins is essential.
Elevated Production Expectations: Originators must become efficiency drivers. Leveraging technology, they’ll need to double or triple their output in the near future to maintain their current income levels
Precision Execution: The benchmark for efficient originators is clear—90% approval and 90% funding ratios. Anything less risks operational drag and reductions in profitability.

Compensation Must Reflect Contribution:
Recent reviews of compensation programs reveal a stark truth: Some top producers—by volume—are generating the lowest margins. In a few cases, their portfolios are net-negative due to inefficiencies and elevated risk. Volume alone should never be the metric of success.

Additionally, many average producers have seen a 20% increase in volume over two years. But with equipment costs rising 30–40%, they’re facilitating fewer transactions at thinner margins. Paying higher commissions for less is unsustainable.

Forward-thinking companies are realigning compensation to reward:

Bottom-line profitability
Operational efficiency
Risk-adjusted performance

Top originators are embracing this shift. They understand that long-term sustainability hinges on producing high-quality, profitable assets—not just chasing volume.

The age-old lesson learned is once again being affirmed. The gap between average and elite originators is not measured strictly in volume—it’s measured in profitability, efficiency, and quality. The message is clear: Facilitating more unprofitable business is never the goal. Producing more profitable, high-quality transactions is. Strive not just to be busy—strive to be the best.

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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Story Credit Financing Different Approach
Business Loans, SBA Loans, Working Capital
Footnotes First

To qualify for this list, the company may be a funder, who also is a supper broker, sending deals who have reached a point to go elsewhere, or does equipment they don't do, such as spray booths, steel fences, or agriculture piping or cannabis equipment.

First, the footnotes they provided which reveal their position in the funder only list:

(P) Financial Pacific Leasing supports a nationwide network of Brokers and Lessors. We specialize in A, B, and C credits for established companies as well as under two years in business.

For more information becoming a partner, please visit Prospective 3rd Party Originators - Financial Pacific Leasing https://www.finpac.com/third-party-originators

(S) We at Summit Leasing consider ourselves to be primarily "B" credit lenders, working almost exclusively through brokers. Broker Qualify - Contact us

(W) Forum Financial Services, Inc., prefer venture capital backed start-ups and middle market to large corporate turnaround companies including companies in bankruptcy and post bankruptcy. Our absolute minimum sales for an established business with financial problems are $10.0 million. (this does not include venture capital backed start-ups). Broker Qualify - Please visit our website at www.forumleasing.com or call 972-690-9444 ext. 225

(Y) Gonor Funding specializes in hard to fund leases with D credit. Collateral based with good rates and commission program. Broker Qualify - Please Call

(Z) TEAM Funding Solutions is a C-credit funder that provides a unique alternative to credit scoring. We fund new business start-ups and older businesses with weaker credits when we roll up our sleeves to understand “their story.” Equipment leases are approved and funded based on common sense, the Lessee’s ability to pay and the Broker’s input.

(CC) Provides financing, leasing, and lending services to businesses and municipalities with “A” through “D” credit profiles throughout the United States, Canada, Mexico, and South America. Since inception, FMEF has provided nearly $1 billion in financing to over ten thousand customers. Also seeks third party originations.

Financing programs, leases, and loans for equipment costing from $10,000 to $10,000,000+. “Application only” programs (No financials or tax returns required) for equipment up to $350,000 and we generally make a credit decision on these transactions within 24 hours. www.netlease.com

(DD) Maxim Commercial Credit provides creative and flexible asset-based financing for today's challenging credit market.

(EE) BSB Leasing, Inc. is a direct funding source. In addition we offer an experienced Syndication Desk that can place transactions that fall outside of credit, equipment, geographic or dollar amount appetite.

(FF) NFS Leasing is a Technology Leasing Specialist which provides funding for B, C, and D and story credits. We make our own credit decisions, service the full lifecycle of transactions on our own balance sheet. We are fast, flexible, and easy to work with. IT & Computer Equipment, Medical, Scientific Equipment, & Office Equipment. We service Canada and the UK as well.

(GG) Bankers Capital will do ANY Type of equipment, in ANY industry (including cannabis), in ANY state. Our specialty is applicants new in business and/or with challenged credit. We require a full financial package on every applicant. Bankers Capital structures “story” or C&D credits with additional collateral which might include mortgages on residential or commercial real estate, additional equipment, assignment of marketable securities or life insurance policies with cash surrender value, security deposits, or vendor agreements Bankers Capital looks for a way to approve the request instead of looking for a way to decline it.

Quality
Quality funds titled and non-titled commercial equipment for A- to C+ customer profiles. *Our sales team has over 100 years of combined experience in leasing and finance. Some sales reps have long-standing vendor relationships, but we do not pursue vendor relationships that come to us from brokers."

Balboa Capital Corp.
Bankers Capital
Black Rock Capital Investment, LLC
BSB Leasing, Inc
Calfund, LLC
Dakota Financial

Financial Pacific Leasing
Forum Financial Services, Inc.
Gonor Funding
Maxim Commercial Capital, LLC

North Mill Equipment Finance
P&L Capital Corporation
Quality Leasing Co. Inc.
SLIM Capital, LLC
TEAM Funding Solutions

Alphabetical list - click on company name to view more details

Here are funders who take "A" and "B" rated applicants. They are also more interested not in "application only." They become more comfortable learning more, beyond reviewing financial statements and tax returns, additional collateral, learning more about the story behind the business as qualifiers.

Leasing News reserves the right to not list a company who does not meet these qualifications.

Funder List “A”
http://www.leasingnews.org/Funders_Only/Funders.htm

We encourage companies who are listed to contact us for any change or addition they would like to make. Adding further information as an "attachment" or clarification of what they have to offer would be helpful to readers is also very much encouraged."

Name In Business Since Contact Website Leasing Association	Employees	Geo Area	Dollar Amount	Business Reports
Balboa Capital Corp. 1988 A Division of Ameris Bank since December 2021 Robert J. Rasmussen Chief Operating and Risk Officer 949-399-6344 robertjr@balboacapital.com https://www.balboacapital.com AACFB, ELFA, NEFA	229	USA	$3,000 - $5,000,000
Financial Pacific Leasing A subsidiary of Umpqua Bank 1975 Christine Vaughn, CLFP cvaughn@finpac.com www.finpac.com ELFA, NEFA, AACFB (BBB)	230	USA	$5,000 - $200,000	BBB CNI Search
North Mill Equipment Finance 1959 David C. Lee DLee@northmillef.com 203-354-6001 www.nmef.com AACLB, ELFA	110	All 50 states	App Only: $15k to $250k App Plus: $250k - $1M
Maxim Commercial Capital, LLC 2009 Dana Freeman, Director Broker Relations 213-425-3163 Dana@maximcc.com https://maximcc.com AACFB, CLFP, ELFA, NEFA	30	Nationwide	$5,000 - $3 million
P&L Capital Corporation 1996 Phil Lieber 800.698.1686 phil@plcapital.com www.plcapital.com AACFB (Click for further description)	28	Nationwide	$10,000 (most clients are doing monthly or quarterly schedules)
Blue Bridge Financial, LLC 2010 877-439-1534 www.bluebridgefinancial.com NAELB, NEFA	35	United States	$20,000-$500,000 avg. size: $85,000
Quality Leasing Co. Inc. 1957 Paul Fogle, CLFP Managing Director 317.253.4415 pfogle@qualityleasingco.com Main: 317-253-4415 ex. 7680 www.QualityLeasingCo.com AACFB, ELFA, NEFA (click her for further description)	30	National Do not fund in HI or RI	$30,000 up to $3 million
BSB Leasing, Inc. 1992 Colorado, Hawaii Don Meyerson, Pres. DMyerson@bsbleasing.com www.bsbleasing.com NAELB (click here for further description)	16	National	$10,000 Minimum Application Only to $250,000 Financial Statement Transaction Up to $1MM Business Loans Up to $500K	BBB CNI 1 CNI 2 Search
TEAM Funding Solutions 1992 Ted Reynolds – Owner and President Jeff Deskins – Credit Manager App Submittal: Lynn Smith – Senior Broker Development Manager 888-457-6700 x115, Martin Lacayo – Broker Development Manager 888-457-6700 x106, Bill Baskerville – Broker Development Manager 888-457-6700 x114, Funding: Stephen Stuesser – CFO Jamie Moore – Marketing Manager Phone: 888-457-6700 x109, Enrollment Fax: 512-258-2322 www.teamfundingsolutions.com AACFB (Z)	13	48 states	$20,000 - $200,000	BBB CNI
Global Financial & Leasing Services, LLC 2008 Jerald Collens Broker Relationship Mgr. 480-478-7402 Jerald@gfrservices.com www.gfrservices.com AACFB, ELFA	12	All 50 states	$25,000 to $1 Million
Calfund, LLC 2000 Harry Saghian harry@calfundllc.com www.calfundllc.com	10	United States	$10K Minimum Loans Only, No Leases	BBB
Dakota Financial Charla Laird Sales & Marketing Manager 310-432-2935 Direct 858-212-4994 Cell 310.696.3035 fax charla@dakotafin.com 310.696.3030 x122 www.dakotafinancial.com AACFB	9	Nationwide	$10,000 to $1MM	BBB Search
Forum Financial Services, Inc. 1996 Tim O'Connor 972-690-9444 ext. 225 tim@forumleasing..com 275 West Campbell Road Suite 320 Richardson, Texas 75080 Fax: 972-690-9464 www.forumleasing.com AACFB (W)	7	Nationwide	$50,000 to $1.0 million. Our average size transaction is $250,000. Preferred Range $100,000 to $500,000 Does Subprime Leases
Bankers Capital 1990 James Aiksnoras - President 508-351-6000 Jamesa@bankers-capital.com www.bankers-capital.com AACFB (GG)	6	Nationwide - 50 States	$25,000 +	Search
SLIM Capital, LLC 2016 Shervin Rashti, CLFP, CEO (310) 499-2506 Main: (310) 499-2562 x108 www.slimcapital.com AACFP. AACFB, CLFP (Footnote)	5	Nationwide	$25,000 to $2 million(Avg $200,000)
Gonor Funding 2001 Norman J. Gonor ngonor@gonorfunding.com 818.784.5444 Jason Gonor 818.402.6999 www.gonorfunding.com (Y)	3	USA	$10,000 to $100,000 with an average of $25,000 - $35,000 Does Subprime Leases
Name In Business Since Contact Website Leasing Association	Employees	Geo Area	Dollar Amount	Business Reports

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Help Wanted Ad
Ameris Bank Equipment Finance

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Why Waiting for the "Perfect" Candidate
Can Prolong Your Vacancy
By Ken Lubin, Managing Director, ZRG Partners

In the competitive landscape of talent acquisition, the pursuit of the "perfect" candidate can inadvertently lead to prolonged job vacancies. While aiming for excellence is commendable, fixating on an unrealistic ideal may cause organizations to miss out on exceptional candidates who possess the potential and eagerness to learn and grow. Let's delve into the pitfalls of prioritizing perfection and explore the benefits of embracing candidates who exhibit promise and a readiness to develop within your company.

The Perfection Paradox: The quest for the flawless candidate can unwittingly create a paradox – the more stringent the criteria, the harder it becomes to find an exact match. This perfection-seeking mindset can result in a prolonged hiring process, leading to increased costs, delayed projects, and frustrated teams. In the rapidly evolving professional landscape, waiting for a candidate who checks every box may mean missing out on adaptable individuals who can quickly contribute and thrive.
The Potential Advantage: Considering candidates who demonstrate potential opens the door to a broader talent pool. These candidates may not possess all the desired skills at the outset, but their enthusiasm and eagerness to learn can be invaluable assets. By focusing on candidates with a strong foundation and a willingness to acquire new skills, you can build a team that is not only proficient but also open to innovation and growth.

Perfection is an elusive standard that can hinder your organization's ability to attract and secure top talent. By shifting your focus towards candidates who exhibit potential, you can build a dynamic and agile team that contributes to your company's success. Embracing individuals with the drive to learn and grow not only fills positions more efficiently but also nurtures a culture of innovation, adaptability, and continuous improvement.

In the end, it's the willingness to evolve that often distinguishes the most successful candidates and organizations from the rest.

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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NEFA Announces 2025–2026 Board of Directors
Extends Gratitude to Outgoing Members

Northbrook, Ill. — The National Equipment Finance Association (NEFA) is pleased to announce its newly elected Board of Directors. The Board will guide NEFA’s mission of
advancing the equipment finance and leasing community through education, networking, and industry leadership.

New Board of Directors
The NEFA Board of Directors is responsible for overseeing the association’s business affairs including strategic leadership, resource management, and stewardship of the association’s mission and assets. The new Board members are:

• Executive Committee

o President - Kim King, CLFP, Odessa
o Vice President – Shervin Rashti, CLFP, SLIM Capital
o Treasurer - Ron Elwood, CLFP, Navitas Credit Corp.
o Secretary - Jaimie Haver, CLFP, Blue Street Capital
o Immediate Past President - Paul Fogle, CLFP, Quality Equipment Finance

• Directors

o Jel Bilbrey, Leasepath
o Melissa Fisher, CLFP, MAZO Capital Solutions
o Dave Gruber, Great American Insurance Group – Specialty Equipment
o Tamara McCourt, CCE, CLFP, Huddle Business Capital
o Drew Olynick, CLFP, Taycor Financial
o Kristi Schon, Channel
o Amy Wagner,CLFP, American Financial Partners
o Kit West, C.H. Brown Co.

Looking Ahead
Under the leadership of the new Board, NEFA will continue to focus on strategic actions
and activities that lead to long-term business growth and industry impact. NEFA remains committed to fostering knowledge exchange, cultivating professional development, and
providing a platform for collaboration across the equipment finance sector.

Thanks to Outgoing Board Members
NEFA would like to extend its sincere gratitude to the outgoing Board members for their dedication, service, and leadership during their term. Their commitment has helped strengthen NEFA’s programs, enhance member value, and advance the association’s mission. We wish them continued success in their future endeavors.

• Past President – Robert Hornby, Esq., CSG Law
• Director – Beth McLean, CLFP, Northland Capital

About NEFA
The National Equipment Finance Association (NEFA) is a national trade association comprised of professionals serving the equipment leasing and finance industry. NEFA offers educational programming, thought leadership, peer networking both in person and virtual, and industry advocacy for its members. For more information, visit www.nefassociation.org

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APR Programs Are Widely Available on the Internet
Search Annual Percentage Rate Programs

Today, the most popular calculator software is TValue, available online or software for your computer or smartphone: https://www.timevalue.com/tvalue-products

You can also purchase the calculator to put on your website by going to: https://www.timevalue.com/tcalc-financial-calculators

Kabbage, OnDeck, plus Term Loan APR Calculator
https://www.nav.com/business-loan-calculators/merchant-cash-advance-apr-calculator/
(Upper left on site below, plus add below site to your website)

Source:
https://www.nav.com/business-loan-calculators/merchant-cash-advance-apr-calculator

News Briefs

Trump Administration Will Comply With Court Order on SNAP Funds
https://www.wsj.com/politics/policy/trump-threatens-to-block-snap-payments-during-shutdown-8c4d314e?st=sfBV1m&reflink=desktopwebshare_permalink

Trump Negotiating Deal With Ozempic Maker to Sell Some Weight-Loss Drugs for $149
https://www.wsj.com/health/pharma/trump-negotiating-deal-with-ozempic-maker-to-sell-some-weight-loss-drugs-for-149-1eb49286?st=omfJ5e&reflink=desktopwebshare_permalink

Car payments are steeper than ever.
Many Americans can’t afford it.
https://www.bostonglobe.com/2025/11/04/business/car-loan-payments-repossessions/

Chrysler recalls 320,000 Jeep plug-in hybrids
due to faulty battery that can catch fire
https://www.bostonglobe.com/business/?p1=BGMenu_Sections

IBM to Lay Off Thousands of Employees Before End of Year
https://www.wsj.com/business/ibm-to-lay-off-thousands-of-employees-before-end-of-year-3b293c50?mod=business_lead_pos5

Yum Brands Explores Sale of Pizza Hut
https://www.wsj.com/business/hospitality/yum-brands-explores-sale-of-pizza-hut-cf8e0f9b?mod=business_lead_pos4

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Transportation Secretary Sean Duffy warns of ‘mass chaos’
in skies if shutdown continues
https://www.bostonglobe.com/2025/11/04/nation/sean-duffy-warns-mass-chaos-skies-shutdown-continues/

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Sports Briefs---

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California News Briefs---

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Gimme that Wine

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

Outrageous Wine Country movie that prompted walkouts
just landed a Magnolia Pictures deal
https://www.sfchronicle.com/entertainment/article/napa-boys-magnolia-pictures-deal-21122771.php

We Asked 13 Sommeliers: What’s the Most
Underrated Napa Wine? (2025)
https://vinepair.com/articles/wa-somms-most-underrated-napa-wine-2025/

Grower Spotlight: Jed Steele
https://www.lakecountywinegrape.org/growers/spotlight/grower-spotlight-jed-steele/

The Science of Aging Wine Under Screw Cap
https://daily.sevenfifty.com/the-science-of-aging-wine-under-screw-cap/

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