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New Hires/Promotions in the Leasing Business
and Related Industries

John Corona has been hired as Director of Partner Success at BriteCap Financial LLC, Las Vegas,  Nevada. He is located in Greater Hartford. He joined Can Capital March, 2022, as Business Development Manager, promoted Director of Partner Business Development (August, 2022 - February, 2025); Business Development Specialist, North Star Leasing Company (December, 2020 - July, 2021); Recruiter, Stratcuity Proven Scientific Placement (August, 2020 - December, 2020). He joined Marlin Capital Solutions, April, 2017, promoted Senior Development Manager (April, 2019 - June, 2020). Full Bio:
https://www.linkedin.com/in/john-corona-29051589/details/experience/
https://www.linkedin.com/in/john-corona-29051589/

Alexander Dean was hired as Vice President, Syndications Manager, Western Equipment Finance, West Devils Lake, North Dakota. He is located at Quincy, Massachusetts. Previously, he was located at North Star Leasing, a Division of Peoples Bank. He joined them May, 2013, Business Intern, promoted July, 2014, Junior Underwriter, promoted January, 2012, Underwriter, promoted Lease Syndicator/Underwriter, February, 2018, promoted Syndication Manager & Underwriter, promoted Vice President, Syndication Manager, Underwriter (July, 2023 -February, 2025).
https://www.linkedin.com/in/deanalexander802/

Thomas E. Goldsmith was hired as Director, Equipment Finance Originations, Truist Equipment Finance, Baltimore, Maryland. He is located in Hunt Valley, Maryland. Previously, he was SVP/National Sales Manager, Bridge Funding Group, Inc., a Bank United company; National Sales Manager, Capital One Equipment Finance, (July, 2013 - July, 2016); VP, SunTrust Equipment Leasing (January, 1998 - July, 2013).
Full Bio:
https://www.linkedin.com/in/thomas-e-goldsmith-34083292/details/experience/
https://www.linkedin.com/in/thomas-e-goldsmith-34083292/

Ashley Hayes was hired as Vendor Services Manager, PEAC Solutions,  Mount Laurel, New Jersey. She is located in Conroe, Texas. working remote. She joined PEAC as Customer Care & Lease Support Lead (January, 2024 - February, 2025). Previously, she was Lease Administrator, Xerox Financial Services, Xerox Corporation (March, 2017 - January, 2024).
https://www.linkedin.com/in/ashley-hayes-1673a645/

Parker McMillan was hired as Account Executive, Boostly, He previously joined Clicklease December. 2022, promoted Jr/Account Executive (August, 2023 - February, 2025). "I would like to thank Clicklease for the people I met and opportunities I was given! It truly is a great place to learn & grow. With that being said, I’m very happy & excited to share that I’m starting a new position as Account Executive at Boostly! I look forward to this new challenge and opportunity to grow."
https://www.linkedin.com/in/parker-mcmillan-07a775264/

Brad Nott was promoted to National Sales Manager, Atlanta Union Equipment Finance, Atlantic Union Bank, Richmond, Virginia, where he located.  "In his new role, Nott will lead business development efforts through the direct origination channel of equipment leases and loans." He joined the bank January, 2018, Commercial Banking Market Executive, promoted Head of Wholesale Banking Operations & Administration (April, 2021 - February, 2025). Further bio below:
https://www.linkedin.com/in/brad-nott-ab993b32

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ELFF Reports February Confidence Drops 2.7%
in February to 66.9% from 69.6%

Equipment Leasing & Equipment Finance Industry

Market Segment

• Bank 53.8%
  
• Captive 11.5%
  
• Independent 34.6%
• Other 0%

James D. Jenks, CEO, Global Finance and Leasing Services, LLC, said,  “With this administration, we expect a gradual improvement in business conditions into the foreseeable future. We also expect the performance of portfolios to gradually improve as well.”

Charles Jones, Senior Vice President, 1st Equipment Finance, Inc., said, "The Trump Administration has taken a hard line on economic relations. Assuming this will bolster negotiations, hope is building that the result will be a stronger U.S. economy."

David Normandin, CLFP, President and Chief Executive Officer, Wintrust Specialty Finance, said, “I am optimistic about the opportunities that may happen in 2025. Business confidence is strong, which will lead to additional investment into capital equipment. Additionally, while inflation is still higher than desired, it is a marked improvement from the recent past. With that said, delinquency and credit quality remain a challenge with bankruptcy rates continuing to rise and stress in consumer auto and credit card debt. 2025 may not be an easy year, but there will be opportunities to leverage if you are nimble and creative in solving challenges.”

Full Press Release:
https://www.leasefoundation.org/industry-research/monthly-confidence-index

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Balboa Capital Available Position
Program Manager II- Equipment Broker Sales
Full Job Details - Benefits

What To Do If You
Can't Make it to Jury Duty
   By Ken Greene, Esq., Leasing News Emeritus

You’ve been summoned to jury duty or scheduled for a deposition or court appearance. You are simply unable to make it for any number of reasons. What should you do?

Jury Duty

Jury duty is mandatory in most if not all states. You are generally obligated to serve once a year. Usually it only takes one day but it can take much longer.

If you know in advance that you are unable to attend, you should notify the Jury Commissioner in writing. Contact information for the Commissioner’s office can be found on the jury duty summons. As a general rule, you may be excused if:

• You have a physical or mental disability that would prevent you from serving;
• Jury duty would require providing alternative care arrangements for someone you care for;
• You are unable to read or understand the English language;
• You are over 75;
• You have no means of transportation;
• You would have to travel an excessive distance to and from the courthouse; or
• Serving would be an extreme financial burden.

It is important to notify the court immediately upon receipt of your jury summons if any these excuses apply. If you do not have this type of excuse but you wake up sick the morning you are scheduled, contact the Jury Commissioner’s office immediately to request postponement or excusal. You may need to provide a doctor’s note. Similarly, if extraordinary conditions such as hurricanes, earthquakes, fires or the like prevent you from leaving home, contact the Jury Commissioner for a postponement or excusal.

Court and Deposition Appearances

If you are subpoenaed for court or a deposition, and you know in advance that you cannot attend, you or your attorney should contact the party swerving the subpoena or notice of appearance. As with jury duty, if, on the date of the deposition, hearing or trial, illness or extraordinary conditions preclude your attendance, advise the court and/or all counsel immediately upon realizing you can’t make it.

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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Now is the Time for Originators
Sales Makes it Happen by Kit Menkin

Leasing has always been an alternate means of financing. This not only applies to small ticket leasing where convenience is a factor for vendors, captive lessors, and leasing companies, but to the middle marketplace where "application only"  is not uncommon in the $150,000 to $250,000 range. Leasing also has considerable traction in the large dollar market place for railroad cars and airplanes. As credit scoring becomes more popular, those that don't score need navigation in the financial sea. In reality, there would be no need for originators, leasing companies or finance companies if the banks wanted all the business.

The real skill of the leasing or financing originator is not just finding a customer who needs "money," but knowing where to take the customer for a fast approval along with an acceptable rate and conditions, and helping to make the transaction as "painless" and "convenient" as possible. That often includes holding the customers’ hand throughout the entire process. The more often the company has experienced the leasing process, the more they need to be reassured there will be no rate change, no term from 36 months to 48 months at the same monthly payment, no “Evergreen clause,” a $1.00 buy-out or specific dollar amount, and the salesman will be there after the sale, not leaving the company to deal as “lease number 83456,” bought and sold through various portfolio transfers.

While the vendor or captive lessor wants their customer to get the best rate, their first concern is making the sale, not losing it. They don't want to sell the lease or care whether it is an equipment finance agreement or business loan. They want to sell the product itself.

While "inside sales" have the advantage in a liberal credit marketplace for new businesses and sub-prime credit applications, a tightening marketplace gives more options to the independent originator who has more than one source. It becomes more than expediting the leasing application. The action now takes part on the street instead of inside. This also happens when rates are low and there are many sources looking to lend money. Despite the hype, the name of the game has always been to get the deal done.

The ballpark has always belonged to the independent experienced originator. I’m not talking about mailers, telephone dialers, or those that stumble into a client turned down by many and anxious just to get the deal done at a “reasonable rate.”

This is not to disparage the company sales person. The analogy may be made by comparing the insurance agent who represents one company and works solely for it, versus an independent agent who has many sources for not only quoting, but sources who will take "B-" to "C-" leases, and perhaps even "D's" at a "decent rate."  Often it is not the rate, or who will “win” the bid, but who will get the "deal" done quickly and conveniently.

The experienced leasing and finance originator works for free and gets paid only when a sale is complete; a sort of "pay as you go," meaning a percentage of the sale without any other financial overhead, except for processing. As the marketplace changes, the experienced leasing originator becomes more independent and more valuable to both the end user and the funder of the transaction.

As for the average lessor, you reach a size where it is better to be purchased by a larger fish or become a leasing or finance originator.

 

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Commercial Finance/Leasing Finance
Conferences and Forums

March 2-4: ELFA Executive Roundtable, Conrad Orlando, Orlando, FL
Conference Details - Registration/Participants

Over 250 Industry Professionals Expected to Attend. Shaping the Future: ELFA Reveals Game-Changing 2025 Trends in Equipment Finance
https://www.elfaonline.org/news-and-publications/press-room/press-releases/details/2025/02/13/elfa-spotlights-growth-strategies-and-innovation-at-2025-executive-roundtable

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March 4-6: Funders Forum & Broker Expo, Hollywood, Florida
Mike Tyson will as the keynote speaker at the Funders Forum and Brokers Expo, taking place March 4-6, 2025, at the Hard Rock Hotel & Casino in Hollywood, Florida
Conference Details

Bob Rodi, long time friend, original member of Advisory Board and contributing writer for Leasing News. will cover Funders Forum & Broker Expo. Rodi is active in Commercial Finance and Leasing.

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March 11-13: National Equipment Finance Association Spring Conference, Omni, La Costa Resort & Spa, Carlsbad, California.
Confernce Details

Vicki Shimkus CLFP, Balboa Capital, A Division of Ameris Bank | Broker Relationship Manager, will cover the conference for Leasing News.

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April 9–11: NVLA Conference, Clearwater Beach, Florida
Conference Details

This year's conference will feature Keynote Speaker, Michelle "MACE" Curran, Women in Leasing Poolside Social, informative education sessions, and ample networking opportunities.

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April 9-11 AACFB Annual Conference, Las Vegas, Nevada
Conference Details

The AACFB Board and staff just wrapped up a productive few days of strategic planning and preparations for the Annual Conference in April. The Paris Hotel in Las Vegas will be a fabulous venue for the conference and we can't wait to see everyone there! www.aacfb.org

Theresa Kabot, CLFP, K2 Funding, Kabot Commercial; Leasing advisory board original member of Leasing News Advisory board and long time friend will be covering the AACFB conference for Leasing News readers.

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April 15-17: ELFA 36th Annual National Funding Conference, Chicago, Illinois
Conference Details

Don't miss your chance to connect with over 600 industry professionals at the ELFA Funding Conference. Funding is the lifeblood of the equipment leasing and finance industry – this event is your opportunity to secure the partnerships you need to drive success. Register and view hotel information

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May 19: Broker Fair, New York City
https://brokerfair.org
https://brokerfair.org/register/

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September 10-12: AACFB Commercial Financing Expo, Austin, TX
Conference Details Coming Soon

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October 14-16 National Equipment Finance Association Fall Conference, Renaissance Hotel, Minneapolis, Minnesota
Confernce Details Coming Soon

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October 26-28: ELFA 64th Annual Convention, Marco Island, Florida
Confernce Details

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To be listed or update: kitmenkin@leasingnews.org

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Top Ten Most Read by Readers
February 18 to February 20

(1) New Hires/Promotions in the Leasing Business
and Related Industries
https://leasingnews.org/archives/Feb2025/02_18.htm#hires

(2) New Hires/Promotions in the Leasing Business
and Related Industries
https://leasingnews.org/archives/Feb2025/02_20.htm#hires

(3) H. Bacon Collamore, Jr. Passed Away
  Former President of American Leasing Corporation
    Also past president of American Association
of Equipment Lessors
https://leasingnews.org/archives/Feb2025/02_20.htm#collamore

(4) JPMorgan on Diversity Programs
and Hybrid Work
https://leasingnews.org/archives/Feb2025/02_18.htm#jp

(5) Change It Up
By Scott Wheeler, CLFP
https://leasingnews.org/archives/Feb2025/02_18.htm#change

(6) Most Popular Dog Breeds in US
by Visual Capitalist
https://leasingnews.org/archives/Feb2025/02_18.htm#dog

(7) Companies with Three or More CLFP Members
Total Members Count is 1,556
https://leasingnews.org/archives/Feb2025/02_18.htm#clfp

(8) Leasing News Advisor
David C. Lee
https://leasingnews.org/archives/Feb2025/02_20.htm#lee

(9) Teamwork vs. Solo Sport: Insights
  on Leadership Styles from the Field
By Ken Lubin, Managing Director, ZRG Partners
https://leasingnews.org/archives/Feb2025/02_20.htm#tw

(10)   Record Year Propels Verdant Commercial Capital   
   to $3 Billion in Lifetime Originations, $754 Million 2024
https://leasingnews.org/archives/Feb2025/02_18.htm#record

News Briefs

The SBA’s Loan Losses—and Job Losses—Are Rising
    Higher Fees Are Likely
https://www.inc.com/melissa-angell/the-sbas-loan-losses-and-job-losses-are-rising-higher-fees-are-likely/91146602

Berkshire Hathaway Paid Record 2024 Taxes.
    Here’s Why.
https://www.barrons.com/articles/berkshire-buffett-record-tax-payment-apple-d3bea956

'Mad as hell’ Canadians cancel US travel en masse
    as trade war escalates
https://nypost.com/2025/02/22/us-news/canadians-cancelling-us-travel-en-masse-in-face-of-tariff-threats/

How Porsche, Volvo and Rivian Are Injecting Unique Driving
    Styles Into Self-Driving Cars
https://www.wsj.com/business/autos/self-driving-cars-ai-tech-advances-d2af556c?mod=business_lead_pos3

Officials Are Fired at Traffic Safety Agency
    Investigating Musk’s Company
https://www.nytimes.com/2025/02/22/business/traffic-safety-agency-firings-elon-musk.html

Coffee Prices Are at a 50-Year High
    Producers Aren’t Celebrating
https://www.nytimes.com/2025/02/22/business/coffee-prices-climate-change.html

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A Tale of Two Cost-Cutters
  Elon Musk and Jack Welch
https://www.nytimes.com/2025/02/22/business/dealbook/elon-musk-jack-welch-cuts.html

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Sports Briefs---

10 Big Questions
about the NFL off-season
https://theringer.com/2025/02/18/nfl/nfl-2025-offseason-story-lines-10-questions-aaron-rodgers-matthew-stafford-sam-darnold-free-agency

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California News Briefs---

Federal funding cuts are crushing California's
  small mountain towns
https://www.sfgate.com/california/article/calif-mountain-towns-in-trouble-after-federal-cuts-20177786.php

Photos: ‘Distress flag’ towers over Yosemite to protest cuts    
    as crowds view firefall
https://www.sfchronicle.com/outdoors/article/yosemite-protest-job-cuts-20180229.php

Yosemite National Park's only locksmith just
  got fired, raising public safety fears
https://www.sfgate.com/california-parks/article/yosemite-locksmith-fired-20178362.php

Hotel defaults on loan after $40 million basketball
    facility renovation
https://www.sfgate.com/travel/article/major-oakland-hotel-defaults-loan-20178578.php

San Jose’s Olivera Egg Ranch to
   close after 76 years
https://www.eastbaytimes.com/2025/02/22/san-jose-olivera-egg-ranch-bird/

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Gimme that Wine

 

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

Napa’s Auberge du Soleil has the secret
     recipe for Michelin success
https://www.pressdemocrat.com/article/lifestyle/michelin-napa-auberge-restaurant/

Napa Valley vintner reportedly sues to cancel foreclosure
    sale of his former winery
https://www.sfchronicle.com/food/wine/article/beckstoffer-amulet-estate-20182199.php

Judge orders Hoopes Vineyard to halt tastings, tours in   
    long-running Napa County dispute
https://www.pressdemocrat.com/article/napa/hoopes-vineyard-napa-lawsuit-winery-tasting/

Thumbprint Cellars Closes Downtown Healdsburg
    Tasting Room After 15 Years
https://www.sonomamag.com/thumbprint-cellars-closes-downtown-healdsburg-tasting-room-after-15-years/

When You BYOB, Are You Committing a Wine Faux Pas?
https://www.wsj.com/arts-culture/food-cooking/byob-are-you-committing-a-wine-faux-pas-af66aed0?mod=panda_wsj_custom_topic_alert

Federal job cuts halts research into wildfire effects
    on Wine Country
https://www.youtube.com/watch?app=desktop&v=bBW9A8CvL04