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Ron Mitchell Passed Away
Widely Known in the Industry

LinkedIn

Ron Mitchell, Executive Vice President, BankLease Acceptance, Irving, Texas passed away from cancer on December 3. His birthday was December 1.

His passing was noticed by many on LinkedIn. Perhaps the first tribute came from his long time-friend Jim Lahti: "Ron was loved by all in the finance industry. He was in the banking business and we got together in the mid 90’s: and we stayed together for 35 years, a true friend and he will be missed.”

James R. Lahti
Community Partners Funding, Inc. dba
BancLease Acceptance Corporation

And Randy Haug, who was the first to notify Leasing News:
"I received this information from Linda Tiers of Baystone Government Finance late this afternoon. Linda and I grew up in this business together over the years and she also knew Ron very well.

"It's sad for me to see many of the people I met when I first entered the industry pass on."

Randy Haug
Randy@LeaseTeam.com
Sr. Vice President / Partner
LeaseTeam, Inc.
Emerging Technology for the Equipment Finance Marketplace

"He was a long-time personal friend. I knew him well when he lived on the San Francisco Peninsula. He was active in WAEL, head of several committees, as well as NAELB and AACFB. A long-time friend and both reader and contributor of Leasing News. He was at BancLease Acceptance for 14 years, where his colleagues told us he would be greatly missed."

Kit Menkin, Publisher/Editor Leasing News

From Murray Schwartz, President, Banclease Acceptance

We still do not have funeral arrangements at this time, but any of his friends that want to know more can email Bruce or me as I state below.

Ron Mitchell passed away on December 3, 2024. He was born in West Point, MS, graduated high school at Terra Linda High School in San Rafael, California, and attended Mississippi State before starting his career in leasing.

Ron had an extensive career in leasing starting in 1979. He worked for Affiliated Corporate Services, ITT Capital, Fleet Credit Corporation, and Sumitomo Bank of California, among others, before joining us at Banclease Acceptance as Executive Vice President in charge of our equipment division in 2008. Ron left behind many friends in our industry.

He was associated with NAELB, NEFA, and the Finance Forum where he was the current VP. Ron has been working as an equipment leasing professional for over 40 years. His knowledge was as extensive as anyone in the industry and he was always willing to help a colleague understand what it takes to put a deal together.

He mentored many new leasing professionals and was well respected by all the financial institutions he dealt with. He is a tremendous loss for our company and for our family.

He was more than an employee he was our friend and mentor to many of us. Ron enjoyed golfing as much as anyone and got married a few years ago to Jennifer. They moved back to close to his hometown in West Point, MS two years ago. He took great care of her and we hurt with her and his family for their loss.

We do not have funeral arrangements at this time but if you need more information, please email Murray Schwartz at murray@ntexas.com, or Bruce Orr at bruce@ntexas.com.

Murray Schwartz | President
a: BancLease Acceptance | 8221 Tristar Dr. | Irving, TX 75063
e: murray@ntexas.com
w: www.bancleaseacceptance.com
p: 214.615.0661

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Kansas Commercial Loan Disclosures
By Ken Greene, Leasing News Emeritus

Kansas enacted Senate Bill 345 on April 12, 2024. It took effect on July 1 and the state is ready for enforcement.

1. Key provisions:
a. Applies to business-purpose loans, open-end credit plans, or accounts receivable purchase transactions (merchant cash advances) of $500,000 or less (“transactions”).
b. Only applicable to a “provider” (a defined term), who “consummates” (also defined) more than five commercial financing transactions.
c. “Provider” includes a platform that has a written agreement with a depository institution to arrange a transaction.

2. Required disclosures:
a. Total amount of funds provided to the recipient.
b. Total amount of funds disbursed to the recipient.
c. Total payments to be made to the provider.
d. Total cost of financing for the recipient.
e. Manner, frequency and amount of each payment (or estimates).
f. Prepayment costs or discounts.

3. Exemptions:
a. Depository institutions, parents and owned subsidiary or service corporations if regulated by a federal bank agency (DFPI, take notice).
b. Providers regulated under the Farm Credit Act.
c. Real estate secured transactions.
d. Leases!
e. Purchase money obligations.
f. Floorplan financing of at least $50,000 where the recipient is a motor vehicle dealer or rental company or affiliate.
g. Transactions offered by a captive finance company.
h. Providers licensed as money transmitters in Kansas or any other state.
i. Providers that consummate no more than five commercial transactions in Kansas in any 12-month period.
j. Commercial financing transactions of more than $500,000.

4. Broker Regulations: The new law prohibits brokers from charging advance fees or making any false or misleading statements in their brokering activities.

5. Summary: This is a well-reasoned and fair law that balances the needs of the borrower, and the relative burdens placed upon the lender. Notably, it contains exemptions for true (operating or FMV) leases, purchase money security interests, banks and their subsidiaries. Other states would be well advised to take note of how Kansas treats its lenders to ensure that they remain active within their states and provide adequate commercial finance resources to those they are designed to protect.

The “Kansas Act”: https://www.kslegislature.gov/li/b2023_24/measures/documents/sb345_00_0000.pdf

Ken Greene
Law Offices of Kenneth Charles Greene
5743 Corsa Avenue, Suite 208
Westlake Village, CA 91362
T: 818.575.9095
F: 805.435.7464
E: ken@kengreenelaw.com

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New Hires/Promotions in the Leasing Business
and Related Industries

Kyle Alexandre was hired as Vice President, State Government Relations, Equipment Leasing and Finance Association, Washington, D.C. She is located in Clermont, Florida, United States. "In this role, Kyle will be a critical part of the ELFA Public Policy team. She will direct and execute all aspects of the association’s state government relations strategy, monitoring and engaging legislation and regulation impacting the industry in all 50 states." Previously, she was Deputy Political Director, Harris for President (May, 2024 - December, 2024). Previously, she was self-employed as 4 Eleven Political Consulting; Vice-President of Public Policy, Orlando Regional Realtor Association (September, 2021 - February,
2024). Full Bio:
https://www.linkedin.com/in/kyle-alexandre/details/experience/
https://www.linkedin.com/in/kyle-alexandre/

Crespina Mangual hired as Account Representative, Mariner Financial, Baltimore, Maryland. She is located in Columbia, South Carolina. Previously, she was Sales Account Manager, TimePayment (August, 2017 - December, 2024).
https://www.linkedin.com/in/crespina-mangual-a49442251/

Damian Tacito was hired as Senior Business Development Manager at Med One Group, Dover, Massachusetts. He is located in Portsmith, New Hampshire. Previously, he was Senior Business Development Account Manager, National Account Manager, NewLane Finance (May, 2021 - November, 2024); Senior Finance Manager, Patriot Financial LLC (August, 2020 - May, 2021); Senior Business Development Manager, Marlin Capital Solutions (December, 2016 - April, 2020). Full Bio:
https://www.linkedin.com/in/damian-tacito-86225252/details/experience/
https://www.linkedin.com/in/damian-tacito-86225252/

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Leasing and Finance Industry Help Wanted
Excellent Compensation/Marketing Support

Wheeler Business Consulting is committed to the commercial equipment leasing and finance industry. We provide a free "Sales Tip" to thousands of finance and leasing professionals on a weekly basis.

For nine years, Wheeler Business Consulting has facilitated an annual survey of originators' production numbers and incomes. The survey results are shared on the website and through a monthly newsletter.

2024 has been a transitional year for many originators and these results will be of interest to originators throughout the industry. Your participation is greatly appreciated and is needed to increase the value of the data.

According to Reuters, “In 2024, states continued to lead the way in expanding access to legal cannabis. As of November, recreational cannabis is legal in 24 states while medical cannabis is legal in 40 states. Additionally, Florida, North Dakota, and South Dakota all included provisions on their November ballots giving voters the opportunity to legalize recreational cannabis in those states. Nebraska also put cannabis on the ballot in November, giving voters the opportunity to legalize medical cannabis in the Cornhusker State.

“While voters in Florida, North Dakota, and South Dakota ultimately voted against the proposals to legalize recreational cannabis, voters in Nebraska (one of the few remaining states where cannabis remains completely illegal) approved two complementary proposals to legalize medical cannabis and regulate its manufacture and sale. The first legalizes medical marijuana in the state while the second provides the state's mechanism for regulating and manufacturing medical cannabis in the state."

The cannabis industry is expected to add nearly 250,000 full-time jobs between 2020 and 2024 (Marijuana Business Factbook)

Alliance Commercial Capital, Inc
161 North Clark Street, 16th Floor
Chicago, Illinois, 60601
888-727-9960 Ext# 6078
Fax: 312-664-3021
sam@accleasing.com
www.accleasing.com

Cannabis Program Highlights:
Loan Size: $25,000 - $10,000,000+
Collateral: lighting, HVAC, benching, extractors, irrigation, CCTV & related cannabis equipment
Locations: Nationwide
Business: The owner/tenant must be licensed and regulated by the State. Personal Guarantees required from all owners. Minimum credit score preferred 700. No bankruptcies in the last 7 years. No unresolved state or federal tax liens.
Application Only: $50,000.
Documentation required: Submit with our attached credit application, copy of vendor invoice/quote, Bank statements for the last 4 months and copy of State Cannabis License
Time in Business: 2+ years
Terms are from 2 to 5 years
Interest rates typically average 9-12.75%
Full Disclosure: Over $50,000
Documentation required: Same as above plus Personal and Corporate tax returns for last 3 years, Personal financial statement for all owners, Debt Schedule, Latest interim Financial Statements.
Start-Ups: Unsecured Business Finance (UBF) program up to $150,000/owner based solely on personal credit. Submit with credit application only.

MoneyTrac Technology, Inc. (“MTT”), a subsidiary of Global Payout, Inc. (OTC:GOHE) , has established and is now marketing an alternative banking solution for the Cannabis industry.

MTT currently has the ability to integrate and streamline electronic payment processing such as E-wallet, mobile applications, debit cards, and credit cards. Currently, MoneyTrac Technology has strategic partnerships with top cannabis services such as GreenRush, BlazeNow, High Grade Management Group, and PotSaver, which was a majority acquisition last October.

According to Bloomberg, "MoneyTrac Technology, Inc., through its subsidiary, provides electronic wallet and e-banking financial solutions for the marijuana industry. It offers financial technology, which includes an e-wallet and mobile app that allows users to access financial information. The company also provides white labeling services; mobile platform to manage financial transactions; and solutions for accessing account information, making payments, and online bill pay activities. In addition, it offers transaction management services."

Scott Jordan has been called by Fox news The "Marijuana Money Man." He states he has created a virtual marketplace for cannabis business owners seeking funding for equipment finance, real estate and working capital. His says his company is "combining the best of breed of lenders that have been vetted and have helped him complete over $200 million in deals since 2014. This provides a 1-stop shopping experience for cannabis borrowers.

The Alternative Finance Network completes deals from $500K up to $20 million with access to private money, credit union and bank rates starting as low as 7.75%.He also has introduced a warehouse line of credit for lessors wanting to have access to a credit facility where cannabis is not a restricted industry.

The company has reportedly been providing funding for many of the most well-known brands in the industry companies like TILT Holdings, Harborside, Weed Maps, The Green Solution and more and is open to working with brokers on deals in excess of $500,000.

Forum Financial Services has been involved in the Cannabis/CBD marketplace for over a year, launching a specific website geared for this industry: www.cannabisequipmentlease.com.

Tim O'Connor, Vice President, says, "Over the past year we have written and closed over a dozen leases. Most have been in the medical marijuana space and now we are expanding into the hemp/CBD industry."

"Most of our transactions were direct. We have two approved brokers that we have completed transactions with and are looking to possibly add one or two more. We are funding our own transactions, which makes us unique in the space. Well capitalized companies with solid management are what we have focused on, mostly "corporation only." Although, we have done a couple start-ups based on solid collateral and decent opening balance sheets.”

"As is the case with Forum Leasing, we do not offer ANY type of lease or financing for equipment located in California. We do offer leasing and are open for business for companies that have equipment installed/located in all the other 49 states."

Tim O'Connor
Forum Leasing
tim@forumleasing.com
PH.: 972-690-9444 EXT. 225
Cell: 214-717-2916

----------------------------------------

International Financial Services dba IFS

"IFS has approved our 1st deal in the cannabis industry! We are now able to consider established companies with accountant prepared financial statements (or tax returns) within the cannabis industry.

“NOTE: We won't consider any start-ups. Must have at least 3 full years in business. Please contact me for more information or to preview a deal."

Dara Dietmeyer, VP
Credit & Syndications
847-932-0912 direct
ddietmeyer@ifsc.com

Over the past few years, as more states have legalized the sale and use of cannabis products, NEC Financial Services has funded transactions for assets such as POS Systems, CCTV, security and access control, IT and more.

As we enter our 35th year in business, we recognize the continuing industry expansion will increase demand for the financing of capital-intensive projects from growers, distribution and ultimately retail sales.

Our history of flexibility and competitive offerings should continue to be attractive to vendors selling into the legal cannabis industry and their customers.

Number 1 Enterprises, Inc.
Funding Cannabis, Marijuana, CBD, Hemp Businesses

“We specialize in structuring your capital infusion. Number 1 is a group of reformed bankers whom grew weary of declining great clients because their loan requests did not fit into the traditional lenders' ‘box’.”

Through a network of over 8,000 Funding Sources: Private Investors, Investor Groups, Lenders, Co-Brokers, Facilitators, Hedge Funds, etc., we help businesses acquire the necessary capital to grow their business:

1. Marijuana Grower, Extractor, Edibles Maker, Wholesaler, and Dispensary in Alaska
2. Medical Marijuana Conglomerate Acquiring a Building and Additional Capital for Operations in Nevada
3. Medical Marijuana Grower in Arizona
4. National Builder whom builds Grow-houses of all sizes
5. Warehouse Builder in North Florida which leases the space to Cannabis Grow-houses
6. Grower in Northern Nevada
7. Builder & Grower in New Jersey
8. Cannaceuticals and Hemp-based Nutritional Product company based in Florida and Pennsylvania
9. CBD Oil Manufacturer
10. CBD Oil Wholesalers
11. CBD Oil Retailers

“We will leave no stone unturned to ensure every available option for acquiring your business capital.

Andrew DiAlberto, President
Number One Enterprises, Inc.
3100 NW 46th St.
Suite 208
Ft. Lauderdale, FL 33309
Tel: 954-204-3292
Cell: 954-579-2584
E-Mail: andrew@number1ent.com

Scott Jordan leads Vertical’s financial services arm. He has been in Colorado providing access to capital for marijuana business owners since 2009 and has been called “The Marijuana Money Man” by Fox San Francisco and the Denver Post. He created one of the first companies to provide debt-based capital, Dynamic Alternative Finance in 2014, and arranged over $30 million in funding before accepting the position with Vertical as President of the newly created Financial Services division.

One of the last true movie stars of French cinema, Alain Delon (1935-2024) could effortlessly fill the big screen with his darkly handsome, magnetic intensity. Check out our list for the titles that best showcased his commanding charisma.

Purple Noon (1960): Delon reached stardom in this sun-drenched adaptation of Patricia Highsmith’s acclaimed novel “The Talented Mr. Ripley,” a sort of Gallic film noir that plays like a sneakily darkening travelogue. He plays Tom Ripley, a young American hired to bring a fun-loving playboy, Phillippe Greenleaf (Maurice Ronet), from his Italian sojourn back home for business. Craving his friend’s luxurious lifestyle, as well as his beautiful girlfriend (Marie Laforet), Ripley comes up with a scheme to take over Phillippe’s identity during a boat cruise. Forging signatures and fooling the authorities, he slowly reveals a sneaky, psychotic streak—one that would go to deadly lengths to hang on to his new wealth. Director René Clément shrewdly keys the suspense to the breathtaking Mediterranean locations and to his leading man’s deviously steamy charm. With subtitles.

Rocco and His Brothers (1960): Though a bona fide leading man, Delon could just as effectively act in a large ensemble, as he does in this exceptional drama from Italian filmmaker Luchino Visconti. Following the Parondi family as they move from their poor rural home to suburban Milan in hopes of a better life, the film chronicles the fates of the sons of widowed matriarch Rosaria (Katina Paxinou). Chief among them is Rocco (Delon), a naive youngster whose innocence contrasts with the roughness of his older brother, Simone (Renato Salvatori). One reaches fame by becoming a boxer while the other descends into crime and alcoholism, and between them is a prostitute named Nadia (Annie Girardot). Rooted in quotidian life while reaching for operatic emotion, this is one of Visconti’s most moving works. With subtitles.

The Leopard (1963): Delon re-teamed with his “Rocco and His Brothers” director, Luchino Visconti, for this magnificent historical epic, set in 19th-century Sicily. Don Fabrizio Salina (Burt Lancaster, in one of his greatest performances) is a lordly aristocrat whose sumptuous world is shaken by the tide of history, namely the unification of Italy in the 1860s known as Risorgimento. Seeking security for his family amid these sweeping changes, he arranges for his nephew, Tancredi (Delon), to marry the young daughter (Claudia Cardinale) of a wealthy businessman. In one last hurrah for his vanishing class, Don Fabrizio throws one final ball, a masterful extended sequence in which old and new values collide and the nobleman’s life fades before his very eyes. Combining eye-filling beauty with heart-stopping melancholy, Visconti’s epic is an unforgettable experience. With subtitles.

Le Samourai (1967): Blending a very French attitude with an obsession with American noir classics, director Jean-Pierre Melville made immaculately stylish underworld sagas cracked with fierce moral codes. Considered by many to be his masterpiece, this crime drama gave Delon arguably his most iconic role as an icy hired assassin named Jef Costello. As his latest assignment takes him to a Parisian nightclub, Jef finds himself hunted by the police as well as his own crime superiors. Determined to escape his fate, he develops a peculiar bond with a piano player (Cathy Rosier) who witnessed his hit. Trading the genre’s usual flamboyance for a deadpan intensity that gives every frame a mysterious spiritual dimension, Melville’s movie is an otherworldly abstraction of cinema’s tough guys and molls that casts an indelible spell. With subtitles.

Mr. Klein (1976): Revealing the anxious nerves under the cool surface, Delon had one of his most interesting roles in this unsettling drama from director Joseph Losey (“The Servant”). He plays the eponymous protagonist, an art dealer in Nazi-occupied France who, keeping his politics conveniently neutral, uses the persecution of Jewish painters to take advantage of their work. He leads a plush life in Paris, but things take a sharp turn when he’s mistaken for a Jewish man also named Mr. Klein. Trying, with increasing desperation, to track down his supposed double, he is forced to step outside of his privileged circle and witness the horrors around him. Made with probing style and merciless rigor, this disturbing film pulls together many of Losey’s themes of identity, persecution and paranoia. With subtitles.

News Briefs

Trump Picks Paul Atkins to Run the S.E.C.
pro-business conservative
https://www.nytimes.com/2024/12/04/business/trump-sec-paul-atkins.html

Jeff Bezos, a Past Trump Foe, Is Optimistic
About a Second Term
https://www.nytimes.com/2024/12/04/business/dealbook/jeff-bezos-trump-amazon-washington-post.html

Here’s what happened the last time Trump
moved federal jobs out of D.C.
https://www.washingtonpost.com/business/2024/12/04/trump-move-federal-jobs/

G.M.’s Ailing China Business Will Deal
It a $5 Billion Blow
https://www.nytimes.com/2024/12/04/business/general-motors-china-electric-vehicles.html

Federal Reserve Beige Book
National Summary & By State
https://www.federalreserve.gov/monetarypolicy/beigebook202411-summary.htm

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Pope Francis goes electric in new
eco-friendly popemobile
https://www.npr.org/2024/12/05/nx-s1-5216286/electric-popemobile-new-pope-francis-mercedes

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Sports Briefs---

Luis Severino and Athletics agree to $67 million,
3-year contract, AP sources say
https://www.pressdemocrat.com/article/trending/luis-severino-and-athletics-agree-to-67-million-3-year-contract-ap-sourc/

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California News Briefs---

300-plus unit San Jose housing tower could help
fuel downtown revival
https://www.mercurynews.com/2024/12/05/san-jose-house-home-build-develop-economy-real-estate-property-jobs/

Graton Rancheria lawsuit seeks to delay approval
of Koi Nation casino near Windsor
https://www.northbaybusinessjournal.com/article/news/graton-rancheria-koi-nation-casino-windsor

Point Reyes ranchers seek to halt removal of elk
fence in latest legal battle over seashore’s future

https://www.northbaybusinessjournal.com/article/news/point-reyes-seashore-ranchers-elk-fence

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Gimme that Wine

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

Lohr Vineyards & Wines Unveils New Brand Identity
and Packaging for ARIEL Vineyards, the Pioneer
of Premium Alcohol
https://www.winebusiness.com/news/article/295896

Voters reject St. Helena’s Measure B,
to fast-track winery resort
https://www.northbaybusinessjournal.com/article/article/st-helena-resort-measure-b-election/?_bhlid=19c13256536a503ccd245bf7ff7c6488a01039a9

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