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New Hires/Promotions in the Leasing Business
and Related Industries

Amanda Brubaken, CLFP, was hired as Senior Contracts Administrator, Dext Capital, Lake Oswego, Oregon. She is located in Shakopee, Minnesota. Previously, she was at Mitsubishi HC Capital America, Inc., hired as Group Lead, June, 2018;. Mortgage Specialist, Wells Fargo (January, 2016 - June. 2018).
https://www.linkedin.com/in/amanda-brubaken/

Timothy (Tim) Graver, CLFP was hired as Customer Development Advisor, Flexential, Charlotte, North Carolina. He is located in Greater Philadelphia. Previously, he was Senior Advisor, Technology Finance Corporation (March, 2024 - July, 2025). He joined Huntington National Bank June, 2021, Asset Finance Sales Associate, promoted Commercial Relationship Service Specialist, Senior (January, 2023 - January, 2024); Sales Associate, TCF Capital Solutions (February, 2021 - June, 2021);
Full Bio:
https://www.linkedin.com/in/timothy-graver/details/experience/
https://www.linkedin.com/in/timothy-graver/

Brian Leidlien was promoted to Chief Financial Officer, Mitsubishi HC Capital America, Norwalk, Connecticut. He is located in Connecticut. He joined Mitsubishi January, 2017, Vice President, Financial Planning. Bio: https://www.linkedin.com/in/brianleidlein/ Prior he was at GE Capital, 16 years, 10 months
https://www.linkedin.com/in/brianleidlein/

Mark Patchell was promoted to Chief Commercial Officer, Encina Private Credit, LLC.  He is in Sarasota, Florida. "Patchell will lead the nationally deployed originations team with a focus on new business originations from direct lenders, private equity sponsors and financial advisors across the US and Canada." He joined Encina February, 2024 as Senior Managing Director, Sarasota, Florida. Previously, he was Head of Middle Market Bank Sponsor and Specialties Coverage, Capital One (April, 2016 = February, 2024). Bio: https://www.linkedin.com/in/markpatchell/

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(Permission to Publish Explanation of Changing
Non-Bank Underwriting of Financial Transactions)
Operational Value Creation: The Collaboration Between
 PE Operating Partners and Lender Monitoring Teams:
    A New Era of Partnership Between Functions
By Lisa Rafter,
Publisher ABFJournal, Monitor Magazine

https://www.abfjournal.com/operational-value-creation-the-collaboration-between-pe-operating-partners-and-lender-monitoring-teams

Brean Capital Serves as Co-Manager on Inaugural $192 Million Securitization for MMP Capital
By Jack Swartz

FARMINGDALE, NY — MMP Capital, a leading independent equipment leasing company, recently announced the successful closing of its inaugural Asset Backed Securitization (ABS) transaction. The offering, MMP Capital 2025A, issued $192 million in notes backed primarily by loans secured by medical aesthetic equipment contracts.

Brean Capital, LLC served as Co-Manager on the transaction.

Demand from the institutional investment community exceeded all expectations. The notes drew thirty-five orders from twenty-seven unique investors, and at final pricing were nine times oversubscribed. The oversubscription allowed MMP Capital to substantially tighten spreads from launch to close, indicating deep market confidence in the credit quality of the underlying assets. The senior tranche of the deal earned a Moody’s rating of Aa3, signaling a strong endorsement of the structure and asset performance.

John-Paul M. Smolenski, CEO of MMP Capital, said,  “MMP Capital 2025A’s overwhelming reception underscores the trust and confidence investors have in our business, our differentiated value proposition for customers and partners, and our disciplined approach to risk.

“This inaugural ABS marks a pivotal milestone in our strategy to expand our existing business and explore new asset classes.”

The Company has built a national footprint by providing flexible, high-speed financing tailored to small business needs. Its specialization in the medical aesthetic space has helped establish a consistent asset base, equipment loans with durable collateral and recurring demand that proved attractive to ABS investors.

The securitization marks the Company’s entry into the public capital markets, providing additional liquidity to expand its financing offerings and reach more customers in established and emerging verticals. It also signals institutional recognition of the quality and performance of MMP Capital’s portfolio.

The strong reception reflects broader investor interest in asset-backed securities tied to high- performing, sector-specific lending platforms. With many ABS markets seeing increased selectivity amid macroeconomic uncertainty, the scale of demand for MMP Capital 2025A stands out. The company’s history of underwriting discipline and loan performance helped drive favorable pricing, even as many issuers face more cautious markets.

MMP Capital was founded in 2013 with a mission to be the gold standard in healthcare equipment finance in the U.S. Led by a management team with vast experience in sales, credit, and operations from several banks, leasing companies, and funding institutions, MMP Capital is uniquely equipped as a hybrid lender to lend directly or utilize a vast syndication outlet.  The Company’s financing options for equipment financing, leasing, and unsecured capital offer U.S. businesses the opportunity to invest in their future, update outdated technology, or offer new services to customers.  For more information, visit: https://mmpcapital.com.

Brean Capital’s Investment Banking Group is dedicated to helping its clients achieve their strategic and financial goals. For more than 50 years, the Firm has specialized in providing capital raising, M&A and financial advisory services to middle market businesses. Throughout its history, Brean Capital has established a track record of providing its clients with deep market knowledge, commitment and experience to ensure a successful transaction. For more information, please visit: www.breancapital.com/InvestmentBanking

Brean Capital
505 Fifth Ave., 5th Floor,
New York, NY 10017 
(212) 702-6500
https://www.breancapital.com/

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Leasing and Finance  Help Wanted
Balboa Capital
We Are Growing Our Senior Sales Team Now

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Back Office Companies

Advance Property Tax Compliance	Haws Consulting Group
Barrett Management Corp.	JDR Solutions
ECS Financial Services	LeaseDimensions, Inc.
RPC Property Tax Advisors, LLC	Madison Capital, LLC
GreatAmerica Portfolio Services Group LLC	Orion First Financial, LLC
Group 88 Systems, Inc.	Vervent

Full List:

https://leasingnews.org/Ag_leasing/backoffice.htm

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Wells Fargo, an early adopter of Google Agentspace,
is transforming how individuals and teams work,
collaborate, and serve customers
By Google Financial Services

The financial services industry has hit a technology tipping point. AI is fundamentally reshaping how people interact with their financial institutions, and this has forced banks to deliver unprecedented agility, efficiency, and personalization.

Wells Fargo and Google Cloud are excited to announce an expansion of their strategic relationship, which will transform how Wells Fargo uses and deploys agentic AI at scale.

This expanded collaboration will equip Wells Fargo employees — including branch bankers, investment bankers, marketers, and customer relations and corporate teams — with AI agents and tools from Google Cloud.

Wells Fargo is an early adopter of Google Agentspace, Google Cloud's unified, secure platform to build, manage, and adopt AI agents at scale. Wells Fargo employees and teams will now be able to reach meaningful insights faster and unlock new levels of efficiency and innovation using agents. These agents will help them find and synthesize information faster, automate tasks and workflows, and increase organizational agility.

This collaboration marks a defining moment for agentic deployment in financial services, underscored by Wells Fargo's commitment to leveraging AI to enhance customer experiences, streamline operations, and cultivate a culture of innovation powered by its people.

Try Google Cloud for free
Start building with $300 in free credits for new customers. All customers get free usage of 20+ products, up to monthly limits.

Get started for free:
https://console.cloud.google.com/freetrial/signup/tos

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Wallet Hub Reports:
 4% expect higher household debt
in the next 12 months + New Household Debt Data

The Federal Reserve Bank of New York just released new data on household debt, and WalletHub’s inflation-adjusted analysis revealed that while U.S. households owed a record amount in absolute terms ($18.39 trillion) at the end of Q2 2025, inflation-adjusted debt is roughly $1.05 trillion below the record from 2008.
 
WalletHub also released a new, nationally representative survey gauging how households are dealing with debt. You can find key highlights below.

Key Findings (Inflation Adjusted)

• Q2 Results: Total household debt increased by $28 billion during Q2 2025. That is 5.8X more than the increase in Q2 2024.
   
• Household Average: The average household owed a total of $152,653 at the end of Q2 2025, which is $13,809 below the all-time high.
   
• Total Debt-to-Deposits Ratio: The ratio of total household debt to deposits indicates consumers are in a stable position. It's still below pre-Covid levels and roughly 47% lower than the early-2000s peak.
   
• Total Debt-to-Assets: The ratio between total household debt and assets, at 9.57%, continues to be at a very healthy level.

Full study: https://wallethub.com/edu/d/household-debt-report/120725

Household Debt Survey Results

• More Debt Ahead: 44% of people expect their household debt to increase in the next 12 months.
   
• Fighting Debt on the Home Front: More than half of Americans say their household is struggling with debt.
   
• Homes Divided by Debt: Nearly 2 in 5 people say debt is a source of conflict in their household.
   
• Unfair Debt Assistance: 44% of Americans think the preferential treatment given to student loan borrowers over the past 5 years was not fair.
   
• Economic Letdown: More than 2 in 3 people say the economy is not doing as well as they thought it would be.
   
• Debt Until Death: 55% of Americans think they’ll still have debt when they die.

Full survey: https://wallethub.com/blog/household-debt-survey/142811

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Financing Cannabis Funding Sources
Many Work with Third Party Originators

Alliance Commercial Capital
Alternative Finance Network
Cannabis Equipment Leasing
International Financial Services (IFS)
NEC Financial Services
Number One Enterprise
Slim Capital
Vertical Companies

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The other side:
 "What Trump's "Big Beautiful Bill" Means
for Your Commute, Your City, and Your Wallet
By Matt Daus

If you have ever tipped a yellow cab or Uber driver, those dollars might now come with a perk for the person behind the wheel. The new law lets workers deduct up to $25,000 in tip income and up to $12,500 in overtime pay (double for married couples) from their federal taxable income. These deductions are phased out for individuals earning over $150,000 annually (or $300,000 for joint filers), but for the vast majority of working drivers, the benefit could be substantial. Yellow cab drivers in New York City earned about $11,500 in tips last year, according to the NYC Taxi and Limousine Commission (TLC). That’s nearly 15% of their total income. Under the new law, most of it could now be tax-free.

The deduction only applies to occupations that “customarily and regularly” receive tips, and the IRS still needs to define exactly what that means. So, while the bill promises help for working drivers, who actually gets the benefit is still up in the air.

The overtime deduction is also expected to benefit drivers who work long hours. But not all overtime counts. Under the new law, only the overtime premium paid to employees working more than 40 hours a week qualifies. Premium pay tied to long daily shifts, which is common in the transit and charter bus sectors, will not automatically qualify.

Transit and bus unions may need to revisit contract terms to ensure that drivers receive the full benefits. Some private companies may consider transitioning from part-time or contractor models to full-time employment, particularly in the luxury transportation sector. But doing so comes with trade-offs: Offering benefits and covering payroll taxes can be costly, even if workers gain new tax perks. As a result, these costs could be passed along to the riders.

While working drivers could gain some tax relief, the new law eliminates a key federal incentive for cleaner vehicles. Starting October 1, 2025, the $7,500 federal tax credit for new electric vehicles (EVs) and the $4,000 credit for used EVs will be eliminated. This move also ends the Commercial Clean Vehicle Credit, which supported fleet purchases.

That is bad news for NYC’s sustainability goals. The TLC has been pushing hard to electrify the city’s taxis and for-hire vehicles, even announcing a goal for an all-electric rideshare fleet (Uber and Lyft) by 2030. Many of the independent drivers and small dispatching base operators expected to help meet that target relied on federal incentives to make the switch to EVs.

Matthew W. Daus, Esq.
Partner and Chairman, Windels Marx Transportation
Practice Group
President, International Association of Transportation Regulators,
Transportation Technology Chair, University Transportation Research Center
Contact: mdaus@windelsmarx.com
156 West 56th Street | New York, NY 10019
T. 212.237.1106 | F. 212.262.1215

News Briefs

Continuing claims for unemployment benefits hit
   highest level since November 2021
https://finance.yahoo.com/news/continuing-claims-for-unemployment-benefits-hit-highest-level-since-november-2021-125849669.html

July earnings update: Boeing, UnitedHealth Group,  
   Starbucks,   Coca-Cola and BlackRock
https://www.cfo.com/news/july-earnings-update-boeing-unitedhealth-starbucks-coca-cola-blackrock-/756977/

EPA cancels $7 billion Biden-era grant program
    to boost solar energy
https://www.mercurynews.com/2025/08/07/trump-solar-cuts/

Intel's stock tumbles after Trump says its CEO must resign
https://www.sfgate.com/news/politics/article/intel-s-stock-tumbles-after-trump-says-its-ceo-20806566.php

GM Will Import EV Batteries From China’s CATL
    Despite Tariffs
https://www.wsj.com/business/autos/gm-bolt-china-ev-batteries-1562e2f7?mod=business_lead_pos4

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The FAA wants to hire 9,000 air traffic controllers.
   It won’t be enough.
https://www.washingtonpost.com/business/2025/08/07/faa-air-traffic-controllers-hiring-shortage/

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Sports Briefs---

 

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California News Briefs---

Deal boosts affordable homes development near
   proposed San Jose BART site
https://www.mercurynews.com/2025/08/07/san-jose-home-build-affordable-property-economy-develop-train-house/

16% of single-family houses in one California county
    are owned by investors
https://www.mercurynews.com/2025/08/06/investors-own-16-of-orange-countys-single-family-houses/

Wave of LeFever Mattson property sales begins
   in Sonoma amid $400 million collapse
https://www.pressdemocrat.com/article/news/ken-mattson-tim-lefever-sonoma/?ref=home-A1top

New evacuations ordered as California wildfire
    nears 100,000 acres
https://www.sfgate.com/centralcoast/article/evacuations-ordered-gifford-fire-20806916.php

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Gimme that Wine

 

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

Emotions run high at Santa Rosa meeting as
     wine fee proposal sparks fierce debate
https://www.pressdemocrat.com/article/lifestyle/wine-improvement-district-sonoma/

New Wine Drinkers Still Lost in Translation,
    According to New WMC Study
https://www.winebusiness.com/news/article/306249

Australian agtech eliminates need for vineyard
     chemicals with UV light technology
https://www.farmernews.com.au/viticulture-news/australian-agtech-eliminates-need-for-vineyard-chemicals-with-uv-light-technology

Wine Country to the Rescue event raises $300,000
     for emergency preparedness
https://www.pressdemocrat.com/article/entertainment/wine-country-to-the-rescue-2/