New Hires/Promotions in the Leasing Business
and Related Industries

Gregory Evershed was promoted to Sales Manager, Enterprise Team, Vendor Sales at Bottomline Technologies, Portsmouth, New Hampshire. He is located in Fairport, New York. He joined the company February, 2021, as Sales Manager. Previously, he was at First American Equipment Finance, starting December, 2016, Sales Analyst, promoted December, 2018, Assistant Vice President, Product Specialist. Full Bio:
https://www.linkedin.com/in/gevershed/details/experience/
https://www.linkedin.com/in/gevershed/

Darrell Johnson, CLFP, was hired as Credit Analyst Manger, North Mill Equipment Finance, Norwalk, Connecticut.  He is located in Carmel, Indiana. Previously, he was Credit Manager, Quality Leasing company (May, 2015 - October 2023); Financial Analyst, Indiana Public Retirement System (May, 2014 - May, 2015); Commercial Lending Underwriting, NextGear Capital (June, 2012 - May, 2014),  Full Bio:
https://www.linkedin.com/in/darrell-johnson-clfp-673ba719/details/experience/
https://www.linkedin.com/in/darrell-johnson-clfp-673ba719/

Catherine (Tara) Podlesny was hired as Vice President Human Resource, PEAC Solutions, Mount Laurel, New Jersey. She is located in Greater Philadelphia. Previously, she was Human Resources Business Partner, Longchamp (November, 2022 - December, 2023); Human Resources Manager,, Lancaster Fresh Cooperative (July, 2020 - November, 2022. Full Bio:
https://www.linkedin.com/in/catherine-tara-podlesny-97964a5a/details/experience/
https://www.linkedin.com/in/catherine-tara-podlesny-97964a5a/

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Alternative Lenders Are Number One Source
of Small Credit Sources - Coleman Reports

Note that the dates for compliance are delayed as a result of a federal injunction—update to follow.

Coleman Report
28081 Marguerite Pkwy.
#4525, Mission Viejo, CA 92690
bob@colemanreport.com

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SBA Lending Conference Schedule
Dates with Links

March 6 - 8:  Southeastern Small Business Lenders Conference Asheville, NC
https://sesblc.com/

March 15 -17: America West Coronado Bay, CA
https://americawestconference.com/

April 2 - 4: Mid America Lenders Conference (MALC), Fort Worth, Texas
https://malc-conference.com/

August 6 - 8: Great Lakes Lender Conference Grand Rapids, MI
https://glcf.org/lendersconference/

August 14 -16: America East, New York City
https://americaeast.net

Sept, 11 - 13: LEND360, Nashville, Tennessee
https://www.lend360.org/

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American Christmas Essentials
Christmas tree in the house tops the list
By Felix Richer, Statista

While every family celebrates Christmas a little differently, each with its own sets of customs and traditions, there are things that most celebrants can agree on, things that are considered essential for a merry Christmas.

According to Statista Consumer Insights, a Christmas tree in the house tops the list of holiday must-haves this year, with 55 percent of Americans considering it essential to a proper celebration. Some proper holiday tunes (there's more than "Last Christmas") and Christmas movies, think “Home Alone”, “Love Actually” and (to some) “Die Hard”, are other key ingredients to the holiday season with 50 percent of Americans calling both essential traditions.

When asked about what they are looking forward to most thinking about the holiday season, Americans show that community and family still beat the commercial aspects of the holidays. 70 percent of the respondents look forward to spending time with friends and family, making it the top answer by far. Interestingly Americans also prefer giving presents over receiving them, showing that not all is lost for Christmas romantics.

By Felix Richer, Statista

 

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Leasing and Finance Industry Help Wanted

 

CLFP Growth by Company End of Year 2023
Added 247 Members for Total of 1,466 CLFP's

Company	2023 Count
First American Equipment Finance	149
DLL	82
U.S. Bank Equipment Finance	65
Ascentium Capital LLC	48
The Huntington National Bank	47
Stearns Bank NA-Equipment Finance Division	38
Arvest Equipment Finance	36
Amur Equipment Finance	35
Oakmont Capital Holdings	32
Key Equipment Finance	31
AP Equipment Financing	29
Channel	29
Financial Pacific Leasing, Inc.	29
First Citizens Bank Equipment Finance**	26
North Mill Equipment Finance	21
GreatAmerica Financial Services	19
KLC Financial, Inc.	19
ECS Financial Services, Inc.	16
Odessa	16
Stryker	15
Navitas Credit Corp.	14
Northland Capital Financial Services, LLC	13
Orion First Financial LLC	13
Ivory Consulting Corporation	12
Cadence Bank	11
1st Source Bank	10
Beacon Funding Corporation	10
Fleet Advantage, LLC	10
Quality Leasing Co., Inc.	10
Transport Enterprise Leasing*	10
Alliance Funding Group	9
Canon Financial Services, Inc.	9
Great American Insurance	9
Solifi	9
Taycor Financial	9
Tokyo Century (USA) Inc.*	9
Wintrust	9
Lease Corporation of America	8
Tamarack Technology*	8
Civista Leasing and Finance **	7
Commercial Equipment Finance, Inc.*	7
Crossroads Equipment Lease & Finance LLC*	7
LTi Technology Solutions	7
Truist	7
BMO Harris Equipment Finance Company	6
Cisco Systems Capital Corporation	6
CoreTech Leasing, Inc.	6
First Commonwealth Equipment Finance	6
Leasepath*	6
Auxilior Capital Partners, Inc. *	5
FIS	5
Mitsubishi HC Capital America, Inc. **	5
Nexseer	5
Univest Capital, Inc.	5
Commercial Capital Company, LLC	4
Falcon Equipment Finance*	4
FinWise Bank*	4
First Foundation Bank	4
Hanmi Bank	4
LEAF Commercial Capital Inc.*	4
UniFi Equipment Finance, Inc.	4
Western Equipment Finance	4
APEX Commercial Capital Corp.*	3
Balboa Capital a Division of Ameris Bank *	3
Commerce Bank	3
Dext Capital*	3
Element Fleet Management*	3
Fifth Third Bank*	3
MAZO Capital Solutions*	3
NCMIC Finance Corporation	3
NorthTeq, Inc.	3
QuickFi by Innovation Finance *	3
Siemens Financial Services, Inc. *	3
TD Equipment Finance, Inc.*	3

* Denotes new to list
** Denotes acquisition or name change from prior entity
BankFinancial, NA, PEAC Solutions, Sumitomo Mitsui Finance and Leasing Co., Ltd., and Thermo Fisher Financial Services dropped off the list.

 

 

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Why I Became a CLP (1996)

Theresa Kabot, CLP, BPB
K2 Funding
Kabot Commercial Leasing LLC

The CLP designation has played a major role in my development as an equipment leasing and financing professional by providing a well-rounded education, a path for continuing education and introducing me to opportunities that have helped me to grow both professionally and personally.

Groundwork: My career in equipment leasing began at a Colonial Pacific Leasing, Portland, Oregon, where the president of the company Jim Merrilees, CLP instilled a corporate culture entrenched in training and cross-training as well as professional development and self-improvement. Classes and ongoing courses were offered through the company as well as via outsourced educational agencies. The topics ranged from building and improving customer service and front-line leadership, to train the trainer and Dun and Bradstreet’s credit and financial analysis course. All employees were encouraged to learn, share knowledge, teach and offer creative solutions for how to do business better. Coursework and its completion were taken seriously and employees were formally recognized by the president for their accomplishments at regular company meetings. Having just graduated from college, this was my first introduction to the importance of continuing education and laid the groundwork which continues to be my foundation.

Personal Challenge: The examples set for me by leaders within the organization are how I initially learned about the Certified Lease Professional designation. When CLP first peaked my interest, certification required five years of industry experience therefore I was not eligible to sit for the exam until 1996. Ironically, achieving the designation was no longer a factor in my advancement opportunities within a corporation as at this same time I had just stepped out on my own and started an equipment financing brokerage in Seattle. However upon reviewing the CLP course content and the body of knowledge, I realized that I still had much to learn and took on took it on as a personal challenge. That spring I applied to take the exam and began studying which included the mentor program where you can work closely with a private tutor who has already been down the path of preparation and knows the material. I am thankful for the time and guidance of my mentor Jim McCommon, CLP. I achieved my Certified Lease Professional designation on October 12th of 1996. What started out as a personal challenge ended up being far more valuable than I would have thought as the CLP designation was of great assistance in securing and maintaining banking and funding relationships for my new business.

Open Doors: The process of certification and continuing education did not stop as I have recertified every four years since with my most recent recertification in October of 2012. Although reexamination is not required, recertification requires CLPs remain active in some aspect of the finance industry and participate in educational activities and seminars which could include involvement in associations like National Equipment Finance Associations (NEFA), National Association of Equipment Leasing Brokers (NAELB) and Equipment Leasing and Finance Association. Part of my recertification qualification over the years has included serving on the United Association of Equipment Leasing (now NEFA) Board of Directors in 2001 and 2002, participation in numerous NEFA and NAELB committees where my company currently maintains membership and as a past and current instructor for the Institute for Leasing Professionals. In addition to membership and conference attendance, I can attest to the fact that being active on industry committees, serving as a director, teaching classes, participating on panels or making literary contributions to publications will connect you with a network of industry leaders and opportunities which contribute to the success of any growing company. The CLP designation opened doors for me in my entrepreneurial experience by lending additional credibility when dealing with investors, funding sources and customers.

If you are a CEO or manager looking for a way to groom your company’s future leaders or if you are looking for a way to enhance your own career advancement potential, whether it be in a corporate environment or as an enterprising business owner, I recommend CLP certification.

Originally Published October 30, 2012

Theresa Kabot, CLP, Awarded "Cindy Spurdle Award"
by CLP Foundation
https://leasingnews.org/archives/Sep2012/9_20.htm#kabot

Academy for Lease & Finance Professionals
https://clfpfoundation.org/academy-for-lease-and-finance-professionals

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Watch at Home
by Fernando Croce, Leasing News Movie Reviewer

Special Christmas Edition, Part Two:

When it comes to celebrating Christmas with your loved ones, a great movie is as much of a seasonal staple as eggnog and mistletoe. So check out the rest of our Yuletide recommendations!

Blast of Silence (1961): For a truly offbeat Christmas title, check out this brilliantly seedy, shoestring noir thriller, set in New York City during the holidays. Writer-director Allen Baron also stars as Frank Bono, a professional killer hired by the Mafia to kill a gangster. As the days pass and the deadline for the job draws near, Frank goes about his squalid business—following his target from a distance, prowling nightclubs, purchasing guns. His plan goes in unexpected directions when he bumps into a childhood friend, who reconnects him with his sister (Molly McCarthy). Throughout, there are documentary glimpses of frigid downtown New York, where Christmas decorations merely accentuate the film’s pitiless black heart. An existential gem, Baron’s low-budget vision deserves to be better remembered as an indie classic.

The Lion in Winter (1968): Coming home for the holidays takes a new meaning in this caustic historical drama, set in medieval Europe in the 12th-century. Set during Christmastime, it charts the palatial intrigue surrounding King Henry II (Peter O’Toole) as he prepares to announce the successor to the throne. He plans to have his son Prince John (Nigel Terry) take over, while his wife, Queen Eleanor (Katharine Hepburn, in an Oscar-winning performance), prefers to have Prince Richard (Anthony Hopkins) as the heir. With the entire clan gathered at the royal chateau, the welter of manipulation and betrayal threatens to envelop them all. Combining a scope of lavish spectacle with an intimate sense of power plays, Anthony Harvey’s adaptation of the Broadway hit features literate dialogue and a superb cast.

Fanny and Alexander (1982): Though usually remembered as a dour, forbidding art-house filmmaker, Swedish master Ingmar Bergman always had a joyous, life-affirming streak that’s best seen in this wonderful, sprawling memory-film, which scored a Best Foreign Language Oscar. Set in the early 1900s, it charts the ups and downs of the Ekdahl family, centering on the eponymous children, Fanny (Pernilla Allwin) and Alexander (Bertil Guve). Kicking off with an extended Christmas party and a Nativity play, the movie follows the duo’s joys and struggles as their widowed mother marries a strict bishop and other family members must come together to help them. With a simultaneously warm and fierce touch reminiscent of Charles Dickens at his best, Bergman’s epic pulls together the director’s obsessive themes and images into a  cinematic feast. With subtitles.

The Santa Clause (1994): Tim Allen made the jump from TV to movie screens in this amiable Walt Disney fantasy, which puts a comedic spin on the eponymous Yuletide icon. Allen plays Scott, a divorced toy marketing director whose life takes a sharp turn after he spends Christmas Eve with his son, Charlie (Eric Lloyd). When Santa Claus falls off the family’s rooftop while delivering gifts, Scott reluctantly dons the red suit and flies the reindeer-led sleigh to finish the job. What he doesn’t know is that, in doing so, Scott has taken over Santa’s responsibilities, meaning that over the next months he begins to gain weight and grows a familiar white beard. Mixing sitcom humor with seasonal sentimentality, the movie kicked off a popular franchise that’s still going strong.

Tokyo Godfathers (2003): Anime expert Satoshi Kon (“Millennium Actress”) updates the Biblical three-wise-men chestnut with this eccentric humanistic tale, which deftly straddles the line between the poignant and the bizarre. The homeless trio of the title is comprised of aging alcoholic Gin, transgender woman Hana and teenage runaway Miyuki, who experience a one-of-a-kind Christmas Eve after finding an abandoned infant while rummaging through garbage. Given a set of clues pointing toward the identity of the child’s parents, the protagonists set out to find them in a colorful Tokyo full of foreign killers, estranged relatives, and unexpected mystic turns. A lovingly grungy look at real and surrogate families and the search for hope amid Skid Row despair, Kon’s film can stir adults as well as kids.

Fernando Croce is a nationally recognized film reviewer and has been contributing to Leasing News since 2008. His reviews appear each Friday.

Labrador Retriever/Great Pyrenees Mix
Danville, California   Adopt-a-Dog

Casper
Male
85 lbs

Must be experienced with Great Pyrenees or large dogs. Great Pyrenees are known for their independent nature and protective instincts, so someone who is familiar with these traits will be better equipped to handle Casper's behavior.

We took in Casper's mother, a Great Pyrenees, along with his siblings last year. This decision was based on being told that the father was a Labrador Retriever which turned out not to be the case. Casper found a home through adoption but was eventually returned to us due to displaying resource-guarding behavior.

With no available foster homes at the time, we had no choice but to place Casper in a boarding facility, where he was for five months until a foster home opened up. .

Outside of the resource guarding, Casper's former family (four adults) described him as "very sweet and a quick learner. He loves to be around people and play fetch. He can be very gentle and loving. In the middle of the night, if he needed to go potty, he would gently lick my face until I woke up. I could go on for days about what a great dog Casper is. He knows how to play dead, he would go to his crate when we said it was time for bed. He liked sleeping in his crate, and we always left the crate door open for him. When it was warm, we would find him sleeping in our bathtub."

What Casper's Foster Says: It seems my foster doesn’t know my name because he keeps calling me, “You Big Goof”. Can someone tell him my name is Casper? Casper is a big fluffy guy that has a “bubbly personality” is gentle, loving, devoted and a loyal companion.

Casper’s favorite outing is to go hiking with our dog Cheyenne. He starts getting excited when we grab the car keys. Casper does really well riding in the truck. He loves to hang his head out the window. Casper met several friends (goats, Llamas, and horses) on the hikes. We haven’t started any off-leash training. Casper also likes to play tug-o-war and fetch with his toys.

Casper sleeps in the crate that is located in our bedroom. When we start getting ready for bed, Casper will head to his crate. He’ll sleep through the night.

Casper gets along pretty well with our female lab Cheyenne. There have been a couple of occasions when Cheyenne let Casper know that she was done playing. Casper did respect her wishes.

Casper knows a significant number of commands; Sit, Down, Break (release command), Come, Crate, Place (designated space), Heel, Out, No (that something is not acceptable), Let’s go Potty and Who Wants a Treat. Casper is gentle when taking treats from your hand.

Casper is 50% Great White Pyrenees. The Great Pyrenees originated in the Pyrenees Mountains of Europe which form the border between France and Spain. They were developed by the Basque people to protect their flocks from predation by bears and wolves. It’s highly recommended that you read up on the breed if you are interested in adopting. 10 Tips for Training Great Pyrenees | It's Dog or Nothing (itsdogornothing.com)

What Lab Rescue Rep Says: Casper needs someone experienced with the Great Pyrenees breed or large dogs. He should start out as the only dog and work with a local trainer to continue building his foundation. With the right measures taken, Casper can thrive. He has bad habits that need to be paid more attention to. From the boarding facility, he's not an aggressive dog by any means but stubborn and can be possessive of his space, especially with things of high value e.g. food and treats. We recommend that the person who adopts Casper work with a professional dog trainer to develop a training plan that is tailored to his specific needs.

Casper is an affectionate dog and will thrive in a loving, structured environment and in a home with rules and boundaries.

Medical: Casper is up to date on core vaccines, heartworm tested negative, micro chipped, and neutered.

Located In: Danville
If you are interested in fostering or adopting, please contact Kris at krisellen.nm@gmail.com

Please note our service area: GGLRR adopts to the greater San Francisco Bay Area.

Contra Costa County Contacts
Cindy 510-984-8188 (text or call)
Barbara 831-336-3146 (call)

Golden Gate Labrador Retriever Rescue, Inc.
Main Office
abrescuesfbayarea@gmail.com
https://www.labrescue.org/

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. Commercial Finance Disclosure;
The Small Business Data Collection Rule; and
The Corporate Transparency Act
By Sloan Schickler, Esq.

1. Commercial Finance Disclosure
These new disclosure statutes require lenders that make loans to commercial entities to give disclosures modeled upon the Truth in Lending Act, similar to what applies to installment sales under Regulation Z. Many of these new disclosure laws exempt true leases from mandatory disclosures. Be aware though, that just because you create a transaction by filling in a form entitled “Lease”, it does not mean the substance of the transaction is necessarily a lease—it may be a loan depending on various factors concerning the financial aspects of the transaction.

States that have passed commercial finance disclosures laws in the last few years include: 

• California
• Connecticut
• Florida
• Georgia
• New York
• Utah
• Virginia (sales-based financing only)

Each of those states have different requirements to analyze and determine applicability, so you may need to look into this depending on your business.

Other states that have or are considering similar legislation include:

• Illinois
• Kansas
• Maryland
• Mississippi
• Missouri
• New Jersey
• North Carolina
• Pennsylvania
• Texas

2. The Small Business Data Collection Rule
A Covered financial institutions will be required to collect certain specific data points for reporting to the CFPB under the Dodd-Frank Act to determine practices related to lending to minority and women owned small businesses.

Covered financial institution is one that engages in financial activity and includes both depository and non-depository institutions such as online lenders, platform lenders, independent and captive equipment and vehicle finance companies and commercial finance companies. Motor vehicle dealers are exempt from compliance under the rule. Depending on your company’s activities it may be exempt. 

Covered credit transactions are extensions of credit for business, commercial or agricultural purposes such as lines of credit and loans. True leases are among the transactions exempt from coverage.

Generally, the rule requires collection of data from businesses with $5 million or less in gross annual revenue for the preceding fiscal year.

Compliance with the rule is staggered based upon the number of transactions a financial institution originates. Financial institutions that originate at least 100 covered transactions in each of 2024 and 2025 are required to comply by January 1, 2026. Financial institutions with 2,500 or more originations annually must comply by October 1, 2024, while those that originate less will have compliance deadlines by April 1, 2025. Note that the dates for compliance are delayed as a result of a federal injunction—update to follow. Note that the dates for compliance are delayed as a result of a federal injunction—update to follow.

3. The Corporate Transparency Act
Entities formed in the United States before January 1, 2024 may be subject to this federal reporting, with certain exceptions. This means LLCs, corporations and other entities formed by filing a document with the secretary of state or its equivalent in a state may be subject to this law. For entities formed before January 1, 2024, a filing needs to be made before January 1, 2025. For entities formed after January 1, 2024, they will have 30 days to file. The filing is to be made with the Financial Crimes Enforcement Network (FINCEN) to provide information on the beneficial ownership of entities.

The purpose is to protect the integrity of the U.S. financial system and to uncover entities that are engaged in money laundering, drug trafficking and other types of criminal activity. Exempt entities include banks, credit unions, broker dealers and other entities that are otherwise regulated by the government. Entities with 20 or less employees are subject to filing, entities with more employees may be exempt. Reporting entities are required to report information concerning each beneficial owner of the company that owns or controls more than 25% of the company. There are rules to determine who is a beneficial owner.

You should investigate whether your entity is subject to the foregoing laws. Failure to comply with the disclosure and filing requirements may subject both the entity and its owners to civil and/or criminal fines and penalties.

Be careful, the laws are complex and different. Don’t assume that the law in one state is the same in another. Consult counsel. Don’t delay as it may be costly in the long run.

Sloan Schickler is a partner in the commercial finance law firm, Schickler & Schickler PLLC. Schickler, a veteran vehicle leasing, finance and bank attorney and the attorneys in her firm have decades of experience representing and protecting lessors, banks, captive and independent finance companies in all facets of the vehicle leasing and financing business. She has served as the National Vehicle Leasing Association Legal and Legislative counsel since 2017, is currently the only woman on the board of directors and is a supporter of Leasing News and sits on its Advisory Board. Sloan can be reached at sloan.schickler@schicklerlaw.com or 212-262-5297  

Appeared in the “National Vehicle Leasing Association Newsletter”

 

 

News Briefs---

US Consumer Confidence Surges Most
   Since 2021 in Broad Upturn
https://www.bloomberg.com/news/articles/2023-12-20/us-consumer-confidence-rises-to-5-month-high-on-better-outlook

Rivian chooses construction firm to
    build $5B EV factory in Georgia
https://www.ajc.com/news/rivian-chooses-construction-firm-to-build-5b-ev-factory-in-georgia/OL6SPUCX5BHETKTXM46GMVXF6Q/

Southwest Airlines Reaches Deal With Pilots Union
 ...provide raises and better benefits
https://www.nytimes.com/2023/12/20/business/southwest-pilots-union-contract.html

Holiday bonus: IRS cancels $1 billion
in taxpayer penalties
https://www.washingtonpost.com/business/2023/12/19/holiday-bonus-irs-cancels-1-billion-taxpayer-penalties/

FTC unveils sweeping plan to boost
children’s privacy online
https://www.washingtonpost.com/technology/2023/12/20/ftc-childrens-online-privacy-protection-coppa/

Adobe to Pay Back $1 Billon Acquisition fee
after regulators call off $20 billion acquisition
https://www.nytimes.com/2023/12/18/business/adobe-figma-takeover.html

Dick Wolf, ‘Law & Order’ Creator, Gives
200 Artworks to the Met Museum
https://www.nytimes.com/2023/12/20/arts/design/dick-wolf-gift-met-museum.html

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Everyone expected a recession.
The Fed and White House found a way out
https://www.washingtonpost.com/business/2023/12/18/recession-economy-inflation/

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Sports Briefs---

He Was the NFL’s Dead Last Pick. Is He Now the MVP?
https://www.wsj.com/sports/football/brock-purdy-49ers-nfl-mvp-48be9f3b?st=qw3mldg20u8ubhz&reflink=desktopwebshare_permalink

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California News Briefs---

Worse than Seattle: Sacramento has more chronically
     homeless than nearly any place in America
https://www.sacbee.com/news/local/homeless/article283248398.html

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Gimme that Wine

 

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

Wine of the week: Iron Horse,
     2019 Classic Vintage Brut
https://www.pressdemocrat.com/article/lifestyle/wine-of-the-week-iron-horse-2019-classic-vintage-brut/

Does Wine Have Terroir? Artificial
    Intelligence Proves It
https://www.winespectator.com/articles/artificial-intelligence-identifies-bordeaux-wine-terroir

The World's Best Cabernets
  From $261 to $4329
https://www.wine-searcher.com/m/2023/12/the-worlds-best-cabernets

BLACK WINEMAKERS CELEBRATED AT
    HARLEM WINE GALLERY
https://www.blackenterprise.com/black-winemakers-are-celebrated-at-harlem-wine-gallery/

Wine Business Institute Launches
    its Inaugural "A Report on the Wine Industry Today"
https://www.winebusiness.com/news/article/280795