Leasing News - information, news, education and entertainment for the commercial bank, finance and leasing industry

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New Hires/Promotions in the Leasing Business
and Related Industries

Stephen Chulick was hired as Program Manager, OEG/XBS, PEAC Solutions, Mount Laurel, New Jersey. He is located in El Dorado Hills, California. Previously, he was Account Executive, De Lage Landen (July, 2009 - April, 2024); Regional Account Manager, GE (May, 2006 - July, 2009); Account Manager, De :Lange Landen (October, 2002 - May, 2006).
https://www.linkedin.com/in/stephen-chulick-5529b18/

Mike Edwards was hired as Business Development Officer, PNC Vendor Finance, Charleston, South Carolina. Previously, he was VP, Business Development, First Citizens Bank (September, 2017 - March, 2024); Business Development Manager, Everbank (July, 2015 - February, 2017). He joined Bank of the West June, 2011, Regional Sales Manager, promoted National Program Manager (August, 2013 - July, 2015). Full Bio:
https://www.linkedin.com/in/edwards311/details/experience/
https://www.linkedin.com/in/edwards311/

Marcello Marrodan was hired as Chief Executive Officer, Golden Sun Funding, Irvine, California. He is located in Orange County, California. He joined Partners Capital, August, 2020, Sales Manager, promoted Regional Director of Sales (January, 2022 - April, 2024). He began his career at Balboa Capital, May, 2015, Account Executive, promoted January, 2016, Account Manager, Sales Manager (August, 2017 - August, 2020).
https://www.linkedin.com/in/bimmermix/

Mark Patchell was hired as Senior Managing Director, Encina Private Credit, Sarasota, Florida, "to expand the company’s originations team and business development efforts. Patchell is based in Sarasota, FL."Prior, he was at GE Capital, Corporate Finance 18 years, 3 months. He started February, 1997, Managing Director, Originations, promoted to Senior Managing Director, Head of Northeast/Mid-Atlantic Originations (February, 2015 - April, 2016).
https://www.linkedin.com/in/markpatchell

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Exploring Opportunities: A Review of the
35th Annual ELFA National Funding Conference
By Edward P. Kaye, Leasing News Advisor

CHICAGO, Illinois -- The 35th Annual National Funding Conference, hosted by the Equipment Leasing and Finance Association (ELFA), took place at the Palmer House Hilton Hotel in Chicago from April 16 to 18. This event, held in the theater and financial district of Chicago near Millennium Park, attracted over 700 industry professionals and over 60 funders, banks, and industry service providers.

The event gives attendees the opportunity to engage in informative sessions, connect with peers, and meet numerous funders through 20-minute prescheduled meetings (think speed dating for the equipment leasing and finance industry). It serves as a pivotal platform where stakeholders engage in meaningful discussions with a focus on establishing funding relationships, share insights and best practices, and explore emerging trends shaping the industry.

The conference agenda included an array of thought-provoking roundtables covering important issues for independents, captives, vendors, and small ticket lessors and finance companies. Attendees had the privilege of gaining insights from seasoned veterans and subject matter experts who delved into critical issues such as market trends, technological innovations, and strategic planning.

Underscoring the industry’s ongoing evolution and adaptation to emerging technologies, the small ticket roundtable centered on exploring the implications of bots, automation, AI, and outsourcing or off shoring. These innovative solutions and platforms streamline processes, mitigate risks, and according to the experts, enhance customer experiences.

Blake Rathburn, Head of Operational Excellence – DLL
(seated L-R Robert Ceribelli, President, Channel; Greg Sting, President of the America’s, PEAC Solutions; Quentin Cote, CLFP, President and Chief Revenue Officer, Orion First Financial)

One of the hallmark features of the ELFA National Funding Conference is its networking opportunities. In the heart of the Windy City, industry professionals had the chance to connect, collaborate, and cultivate relationships. From casual coffee chats to networking breakfasts and a luncheon, the conference facilitated interactions among peers, fostering a spirit of camaraderie and cooperation.

While there certainly was a buzz of optimism in the room, candid conversations reveal challenges and headwinds generally confronting banking and the equipment finance sector. Economic uncertainties, regulatory pressures, and credit tightening were some of the issues that were often discussed. Navigating these challenges this year is an ongoing process industry stakeholders will continue to develop strategies to mitigate.

As the curtain closed on another successful ELFA National Funding Conference, participants departed with a renewed sense of purpose, armed with fresh perspectives and valuable connections. The road ahead may present some challenges and uncertainties, but the spirit of innovation, collaboration, and resilience embodied by the conference serves as a shining example of optimism for the future.

Edward “Ed” P. Kaye
SVP Sales and Business Development
Inspiration Mobility
Washington, Dace.
202.644.9497
646.294.6333
ekaye@inspirationmobility.com
www.inspirationmobility.com

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Leasing and Finance Industry Help Wanted

Growth in Finance and Leasing
Part 3

The purpose of this three- part series is to introduce the associations you should consider joining in order to improve your professional and personal growth. You will find many of your colleagues belong to more than one association.

The best advice I can give after viewing the various associations is to attend one of the conferences. The idea is to explain the association by the “categories” of their members.

The keys are twofold: One, look for categories where you can fit, learn from each other, and meet each other. Two: categories you should join to acquire direct business or leads or education from a smaller category that you fit.

While the overwhelming members are “brokers” or “originators” as they are referred to, it is obvious: if that is you main occupation, you should join!

However, if you service “brokers” or “originators,” you can get business directly for them or by their contacts. Don’t ignore not joining.

As a side note, the top executive is female and the majority of the board of directors are female., perhaps a major reason for the association’s success.

This association has had its up and downs with a rich history. They have become more social, but remain in the primarily to help their members grow and enjoy life, too.

The best way to make up your mind about joining is to at least attend one national conference (two is best, as you might not get the right feeling from just one visit.)

Final Recommendation: Think about these associations to Consider joining without distraction: Read parts 1,2, and 3 again at least a week later. Finally, attend at least one of their conferences. Most often, they discount your first visit.

Part 1
https://leasingnews.org/archives/Apr2024/04_01.htm#growth
Part 2
https://leasingnews.org/archives/Apr2024/04_03.htm#growth

Christopher “Kit” Menkin, Leasing News Editor/Publisher

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CLFP Foundation Adds 14 New CLFPs

The Certified Lease & Finance Professional (CLFP) Foundation is pleased to announce that 14 individuals who recently sat through the online proctored CLFP exam, have passed.

They are:

Ryan Bass, CLFP
Systems Administration Manager, Navitas Credit Corp.

Leighton Bost, CLFP
Recovery Manager, Navitas Credit Corp.

James Currier, CLFP
Chief Revenue Officer, Finloc 2000 Inc.

Catherine Cuthbertson, CLFP
Sales and Marketing Representative-Funding, North Mill Equipment Finance

Alexander Erickson, CLFP
Director of Credit, Navitas Credit Corp.

DeAnna Goen, CLFP
Collection Liam Lead, Navitas Credit Corp.

Shaakira Grant, CLFP
AVP, Originations, First Citizens Bank Equipment Finance

Jason Hughes, CLFP
Commercial Underwriter III, Pathward

Brett Morris, CLFP
Senior Financing Specialist, Navitas Credit Corp.

Regina Nirelli, CLFP
Documentation Manager, OnPoint Capital, LLC

Julie Paige, CLFP
Titling Manager, Navitas Credit Corp.

Eric Scott, CLFP
Credit Analyst, Navitas Credit Corp.
.

Eric Weber, CLFP – Credit Manager,
North Mill Equipment Finance
.

Mary Wheeler, CLFP
Accounting Operations and Compliance Manager, Navitas Credit Corp.

Regina Nirelli of OnPoint Capital, LLC, commented, “I chose to pursue the CLFP designation to bolster my expertise and value in the Equipment Finance industry. “Obtaining this certification symbolizes my dedication to my profession, ensuring my ability to navigate complex financial landscapes with precision and efficacy.

“I am committed to staying well-informed of industry advancements and best practices, ultimately enhancing my value proposition and opening doors to new opportunities for both personal and professional growth.

“By obtaining this certification, I aim to inspire and encourage more women to enter and thrive in the Equipment Finance space. I believe that diverse perspectives lead to better decision-making and innovation, and I am committed to playing my part in creating a more inclusive and equitable professional arena.”

Mary Wheeler attended the Navitas Online ALFP in early April and shares, “As the Accounting Operations Manager for Navitas, I get questions and requests from every department regarding every aspect of our operations and lease financing. Expanding my knowledge through obtaining the CLFP designation will enhance my ability to serve those people who rely on me and my department for resolution to their issues. “

The CLFP designation identifies an individual as a knowledgeable professional to employers, clients, customers, and peers in the commercial equipment finance industry. There are Certified Lease & Finance Professionals and Associates located throughout the United States (including Puerto Rico), Canada, India, Pakistan, Africa, and Australia. For more information, visit http://www.CLFPFoundation.org.

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Top Ten Leasing News Read by Readers
April 15 - April 18

(1) List of Companies Not Taking
Application-Only Is Growing
By Kit Menkin
https://leasingnews.org/archives/Apr2024/04_15.htm#growing

(2) New Hires/Promotions in the Leasing Business
and Related Industries
https://leasingnews.org/archives/Apr2024/04_17.htm#hires

(3) Brokers: Attend This Open Bar in NYC
Sunday, May 19, 2024 7:00pm - 9:00pm
https://leasingnews.org/archives/Apr2024/04_17.htm#attend

(4) New Hires/Promotions in the Leasing Business
and Related Industries
https://leasingnews.org/archives/Apr2024/04_15.htm#hires

(5)California Disclosure Laws
Let Us Know What You Have Experienced and Learned
By Marshall Goldberg, Leasing News Legal Editor
https://leasingnews.org/archives/Apr2024/04_19.htm#ca

(6) How to Use Your LinkedIn Summary
to Stand Out from the Crowd
By Alex Vasilakos
https://leasingnews.org/archives/Apr2024/04_17.htm#how

(7) Well-Oiled Machines
Sales Makes it Happen by Scott Wheeler, CLFP
https://leasingnews.org/archives/Apr2024/04_17.htm#well

(8) What Will Your Career Look Like in 5 years?
By Ken Lubin, ZRG Partners, Managing Director
https://leasingnews.org/archives/Apr2024/04_19.htm#what

(9) Opportunities Increase for Non-Bank Institutions
By Jim Jackson, Head of the Alta Group
Mergers and Acquisitions
https://leasingnews.org/archives/Apr2024/04_19.htm#opp

(10) Commercial Finance/Leasing Finance Conferences
2024 Updated
https://leasingnews.org/archives/Apr2024/04_19.htm#conf

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

Dext Capital Announces Optimized Document
Management with AutoDocs on DART

In a move to redefine the landscape of the equipment finance industry, Dext Capital has unveiled AutoDocs as part of their DART platform. This new tool is poised to lead the charge in revolutionizing document management for brokers and vendors, offering unprecedented control and efficiency.

Kyin Lok, Dext Capital CEO, said, "Dext remains open for business and is excited to partner with leading third-party lenders and brokers. AutoDocs represents a continued commitment to this important financing channel and a groundbreaking solution for finance companies seeking efficiency and control in their lending operations.”

AutoDocs immediately delivers signature ready documents at the time of credit approval. This allows a customer the ability to complete the application and documentation processes in a matter of minutes, not hours or days, effectively taking the deal immediately off the street.

Among its suite of benefits, AutoDocs boasts:

Targeted Eligibility: Supports App Only deals up to $250,000.

Significant Time Savings: Eliminates the wait for manual document processing. AutoDocs automates assembly and distribution, allowing brokers to close deals faster.

Enhanced Broker Control: Customize every deal with full autonomy over points, doc fees, terms, and schedules. Manage DocuSign signings with the ability to send, recall, and track document statuses in real-time.

Complete Documentation Autonomy: Brokers can monitor when documents are viewed and signed, ensuring all parties are aligned throughout the process.

For more information about AutoDocs on DART from Dext Capital, please visit www.dextcapital.com

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

News Briefs

U&I Financial in Washington Reports 4Q Loss to
Equipment Finance Business for $18 Million
https://www.thebankslate.com/2024/04/u-i-financial-in-wash-reports-4q-loss-tied-to-equipment-finance-business/

Jay Powell just made 2024 more of a
puzzle for regional banks
https://finance.yahoo.com/news/jay-powell-just-made-2024-more-of-a-puzzle-for-regional-banks-130039910.html

Red Lobster reportedly considers bankruptcy
$11M loss on endless shrimp
https://www.sfgate.com/food/article/red-lobster-considers-filing-bankruptcy-19412558.php

It Introduced Ozempic to the World
Now It Must Remake Itself
https://www.nytimes.com/2024/04/20/business/ozempic-novo-nordisk-wegovy.html

Chinese Export Surge Clouds U.S. Hopes
of a Domestic Solar Boom
https://www.nytimes.com/2024/04/19/business/chinese-export-surge-solar-boom.html

UAW gets first Southern win as Tenn.
plant overwhelmingly backs union
https://www.washingtonpost.com/business/2024/04/19/vw-uaw-tennessee-vote/

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What an Average Car Cost in the Year
You Were Born- 10 Year Increments
https://www.yahoo.com/finance/news/average-car-cost-were-born-130001087.html

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Sports Briefs---

In bid to keep Roots soccer in town, Oakland to
buy county’s shares of former Raiders
practice site, Coliseum lot
https://www.mercurynews.com/2024/04/20/in-bid-to-keep-roots-soccer-in-town-oakland-to-buy-countys-shares-of-former-raiders-practice-site-coliseum-lot/

A’s, Oakland still ‘far apart’ on Coliseum lease
extension; Sacramento meeting looms

https://www.eastbaytimes.com/2024/04/02/oakland-as-and-city-officials-remain-far-apart-on-coliseum-lease-extension-after-tuesdays-meeting/

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California News Briefs---

Insurers won’t renew some homes, citing risk of
earthquake-induced fires. This map shows where
https://www.sfchronicle.com/sf/article/home-insurance-earthquake-fire-19404812.php

Stanly Ranch Residences in Napa Partners with
Sotheby's International Realty to Sell Multi-million-dollar Homes
Currently, there are 28 Villas, Starting at $3.6 million, and a first phase of 24 homes for $4.8 million
https://napavalleyregister.com/news/local/business/napa-luxury-home-estate-stanly-ranch-resort/article_21cf4c34-f75b-11ee-abae-fb3fafb83b1a.html

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Gimme that Wine

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

Alexander Valley Winegrowers Celebrates 40th
Anniversary as an American Viticultural Area
https://www.winebusiness.com/news/article/286361

Ron Yates Wines to build $4M tasting
room in the Texas Hill Country
https://www.lmtonline.com/business/article/ron-yates-winery-tasting-room-19399722.php

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