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

######## surrounding the article denotes it is a press release, it was not written by Leasing News nor has the information been verified, but from the source noted. When an article is signed by the writer, it is considered a byline. It reflects the opinion and research of the writer.

New Hires/Promotions in the Leasing Business
and Related Industries

Craig Hannon was hired as Senior Vice President, Corporate Aviation, Pinnacle Financial Partners, Nashville, Tennessee. He is located in Austin, Texas. Previously, he was at Truist, starting January, 2017, Director, Corporate Aviation, promoted April, 2022, Director, Head of Aviation Originations; Senior Vice President, Corporate Aircraft, Citizens (March, 2011 - June, 2017); Vice President, Corporate Aircraft Territory Manager, Wells Fargo (July, 2008 - March, 2011). He began his career at GE Capital, November, 1998, Associate Sales Representative, promoted November, 1999, Vice President of Sales, Commercial Equipment Finance, Vice President & Sales Manager, Corporate Aircraft (2004 -2008).
https://www.linkedin.com/in/craig-hannon-4a163a14/

Robin Harmon was hires as Senior Vice President, Leasing Specialist, Bank of America. She is located in Nashville, Tennessee. Previously, she was Vice President, Equipment Finance, Hancock Whitney (July, 2022 - January, 2024); Vice President, Relationship Manager, Fifth third Equipment Finance (April, 2017 - July, 2022); National Finance Manager, Commercial Marine, TCF Equipment Finance (July, 2014 - April, 2017). Full Bio:
https://www.linkedin.com/in/robin-harmon-388b178/details/experience/
https://www.linkedin.com/in/robin-harmon-388b178/

Holly Pratti was hired as Vice President, Business Development at Loeb, Chicago, Illinois. She is located in Knoxville Metropolitan area, Tennessee. She remains part-time as Accounting/Financial Consultant, P*L Consultants, LLC (October, 2007 - Present). Previously, VP Business Development Officer, Seacoast Business Funding (October, 2022 - October, 2023). Full Bio:
https://www.linkedin.com/in/holly-pratti/details/experience/
https://www.linkedin.com/in/holly-pratti/

Nicole Schweizer was hired as Account Executive, Business Development, GreatAmerica Financial Services, Cedar Rapids, Iowa. Previously, she was Marketing & Sales Consultant, Trevent, Inc. (January, 2015 - December, 2023); Chairperson, Auction, National Fragile x Foundation (August, 2012 - July, 2014).
Full Bio: https://www.linkedin.com/in/nicole-schweizer-2972a45/details/experience/
https://www.linkedin.com/in/nicole-schweizer-2972a45/

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Commercial Finance View by Dale Kluga, CPA
Well-Known Equipment Finance Founder

Where’s the uproar with the record increase in bankruptcies? Why hasn’t the media been all over the CRE office vacancy crisis and the trillions in upcoming maturities, or climate change destroying homes and business as with insurance companies failing because they could not cover the losses? Could this be the calm before another liquidity storm? Or is our economy resilient enough to survive these challenges? These are just a few domestic challenges for our economy without considering the potential impact to our financial system from global geopolitical events. The Great Recession was a different crisis, mostly of credit mismanagement. Now, it’s bank asset liability mismanagement. One needs to ask, how have our banks put us into yet another crisis?

It’s really no mystery. It’s called a complete lack of material, at-risk skin in the game by bank CEO’s. Our leasing industry is proof that our at-risk model employed by our independents accounts for the lion’s share of our focused discipline and consistent success.

Despite being classified by the big banks as a second0tier business, our formula is better. Why? Because we are contrarians in nature and make decisions based on logic, not non-sensual bureaucratic policies and politics. Bankers like Jamie Dimon could learn lot from us if they ever decided to take their elevators from their ivory towers to the ground level where they will find our leasing operators supporting small business on a more material capital level than any bank, big or small..

Most don’t realize that Jamie was a commercial finance guy before he became America’s best banker. He would benefit from remembering the past lessons in our business that account for at least part of his success.

Our financial system is now dealing with the aftereffects from irrationally subsidized Covid programs which, at the time, took place when we already had too much liquidity in the capital markets. Now the Fed is in the driver's seat and its moves portend yet another challenge: our insolvent community bank industry.

Rates are not enough and more bank runs but at the community level. Cut too much and save the insolvent community banks and CRE fund May be saved. The bifurcation between the health of the equity and debt markets has never been so dramatically different, all at a time when our national debt has never been so leveraged relative to our GDP.; truly a toxic combination.

A Look at the Funding Dilemma Caused by Accounting
Which Affects Banks and Use of Funds Available
By Dale R. Kluga, CPA, Experienced Funder
https://leasingnews.org/archives/Jan2024/01_19.htm#loo

Dale R. Kluga
Equipment Finance Founder & CPA
Member AICPA & ICPA
Cell: 630-675-0828
Email: dalekluga@gmail.com
LINKEDIN: http://linkedin.com/in/dale-kluga-cpa-85704740

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Leasing and Finance Industry Help Wanted

Help (Sometimes that is all we can do)
By Ken Lubin, ZRG Partners, Managing Director

During these unprecedented times, many are not progressing and, more are likely going backwards. The vast majority of us are treading water to, say the least.

We live in a very proud society, wherein one may not like to ask for help or worse, fears asking for help. Instead of waiting for someone to reach out, perhaps we can be proactive during these times. Offer to help a coworker, a family member, or random stranger. Like many of us they are fearful of the uncertainty and, if you can give a sense of well-being even for a few moments, you can change a person’s attitude and hope. If enough people do this, one person at a time, we can change the well-being of our household, our neighborhood, town, state, country and world.

If you can, even in the smallest way, you will make a difference.

Ken Lubin
Managing Director
ZRG Partners, LLC
Americas I EMEA I Asia Pacific
C: 508-733-4789
https://www.linkedin.com/in/klubin

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Leasing News Advisor
Bruce Kropschot

Bruce Kropschot
Senior Managing Director
4751 Bonita Bay Blvd., Unit 201
Bonita Springs, FL 34134
The Alta Group
(772) 321-2167
bkropschot@thealtagroup.com
www.thealtagroup.com

Bruce Kropschot is one of the first asked to join the advisory board, and he has been active since September 6, 2000. He was named Leasing News Person of the Year for 2015 and was honored by the Monitor publication, receiving the Industry Legend award at their recent 50th anniversary celebration.

Bruce Kropschot has been active in the equipment leasing and finance industry since 1972 and has been a senior executive of three large equipment leasing companies. In 1986, he founded Kropschot Financial Services, a firm he developed into the leading provider of merger and acquisition advisory services for equipment leasing and finance companies. In 2008, Kropschot Financial Services became a part of The Alta Group, the leading worldwide consulting firm for the equipment leasing and finance industry. Bruce formed Alta’s M&A advisory practice, which also arranges debt and equity capital and provides valuation services for leasing and finance companies. He has played a major role representing sellers or buyers in the sale of over 200 equipment leasing and specialty finance companies.

After 52 years in the equipment leasing industry, Bruce still is active, although he has been happy to turn over much of his workload to his successor at The Alta Group, Jim Jackson. Bruce says that his business is his favorite hobby and he continues to keep his fingers in the business even while pursuing retirement. When asked what have been the keys to his success, he stated, “Obviously a thorough knowledge of many types of leasing companies is essential in the M&A advisory business. However, of utmost importance is maintaining the highest level of integrity. The Alta Group’s reputation depends upon always treating as confidential any information we receive in confidence from potential buyers and sellers of leasing companies.”

Bruce has served on the Board of Directors of the Equipment Leasing and Finance Association, the Equipment Leasing and Finance Foundation, Eastern Association of Equipment Lessors, United Association of Equipment Leasing and International Network of Merger & Acquisition Partners. He has served on the Leasing News Advisory Board since 2000, and he also served on the alumni advisory board of the Ross School of Business at the University of Michigan. He has BBA and MBA degrees (with honors) in Accounting and Finance from the University of Michigan and is a CPA.
Bruce’s favorite recreational activity has long been skiing. He also enjoys traveling and has visited all 7 continents and nearly 100 countries. In his spare time, he enjoys watching NHL hockey games and following the University of Michigan athletic teams.

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Commercial Finance/Leasing Finance Conferences
2024

March 5-7: Funder's Forum, Miami, Florida
https://leasingnews.org/Ads/Completed/brokers_expo112023.html

March 25–28: NEFA Finance Summit, Huntington Beach, CA

April 16–18: AACFB Conference, Glendale, Arizona
https://annualconference.aacfb.org/home
Book Your Room, Special Rate until March 25, 2024
https://myemail.constantcontact.com/Book-Your-Room-for-2024-AACFB

April 16-18: ELFA National Funding Conference, Chicago, IL

April 30-May 1: AGLF Conference, Austin, Texas

May 5–7: Equipment Finance Connect, Nashville, Tenn.
https://equipmentfinanceconnect.com

Sept. 4-5: AACFB Commercial Financing Expo New Orleans, LA

Sept. 10-12: Auto Finance CEOs, San Antonio, Texas

Sept. 10-12, CFLA Conference, St. John's, NL, Canada

Oct. 16-18: NVLA Conference, Clearwater Beach, Florida

Oct. 27-29: 63rd ELFA Annual Convention, Austin, TX

Nov. 3- Nov. 5: NACLB Conference, Las Vegas, NV
https://naclb.getregistered.net/2024-conference-expo/agenda

Nov. 11-14: NEFA Funding Symposium, Indianapolis, Indiana

To be listed, email: kitmenkin@leasingnews.org

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LTi Technology Solutions Celebrates 35 Years
of Excellence and Client Success

[Omaha, NE]– LTi Technology Solutions, a charter member in the equipment finance industry, proudly announced 2024 officially marks its 35 year anniversary. As LTi marks this significant milestone, Randy Haug, EVP/Co-Founder, reflected on the remarkable 35 year journey and looked back on the collective achievements that have propelled the company and its client partners forward and emphasized a renewed commitment to LTi’s client partnerships.

A Culture of Continuous Learning and Improvement

Co-founded in 1989 by Randy Haug and Russ Hallberg, LTi is a 100% privately owned business that prides itself on being deeply rooted in the equipment finance industry. LTi's commitment to continuous learning combined with an unrelenting drive for customer satisfaction has fostered a culture of continuous improvement that benefits both its internal team and its client partners.

Randy Haug pointed out “the single most important factor in our success and longevity has been our unwavering commitment to innovation, client success, and continuous improvement. At LTi, our focus is on three key pillars that form the bedrock of our company strategy: our people, our clients and our products.

“Our incredibly talented team is dedicated to designing innovative products and our clients work with us as business partners giving us critical insights into real life business problems that our innovative products solve. We call this the #LTIDIFFERENCE. The LTI difference has propelled us forward for 35 years.”

The LTi Difference: A Key to Success in 2024 and Beyond

Both LTi founders believe their success is inextricably linked to the success of their clients.

Randy Haug explained, “Our clients' investment in our productivity based solutions, like ASPIRE, are an integral part of client business success.

“Clients tell us that they choose LTi because we are a ‘value added partner. And, we are extremely proud to have clients who have consistently chosen us as their partners for many of those 35 years.”

With an active presence in over 210 well-established equipment finance companies across the US, Canada, and the UK, LTi continues to grow its client footprint, providing robust software solutions and personalized advisory services that contribute to client success proving that the “#LTidifference” is a winning formula.

As a privately owned company, LTi has enjoyed the flexibility to devote 100% of their efforts on client satisfaction with a laser focus on continuous improvement. The result of 35 years of this singular focus? LTi is a top industry leader whose products are continuously chosen as the platform of choice for top ranked Monitor 100 companies.

A Heartfelt Thank You to the LTi Team, Clients, and Partners

Haug concluded, “We are so grateful to the talented LTi team, our trusted client partners, and our business associates who have played pivotal roles in the company's success for 35 years. As we look ahead to 2024 and beyond, we are excited about the future as we continue to provide the #LTi Difference in all the global markets we serve.”

About LTi Technology Solutions

LTi Technology Solutions delivers a full lifecycle leasing and loan finance platform to equipment finance companies, captives, small ticket, middle market and independent banks throughout the US, UK and Canada from their Omaha, NE headquarters. Backed by comprehensive and integrated interfaces, their powerful technology solutions allow for improved efficiencies and decisioning. ASPIRE, a highly configurable platform, empowers clients to scale their business by streamlining the transaction lifecycle.

https://www.ltisolutions.com

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Equipment Finance Cares Announces Panel, Speakers
and Foundations for February 20th event in Huntington Beach

The Equipment Finance Cares Southern California event, hosted by Blue Street Capital will be held on Tuesday, February 20th from 1:30pm-7pm at Blue Street Capital’s headquarters in Huntington Beach.

Jesse Johnson, Founder of Equipment Finance Cares, said, “Equipment Finance Cares is excited to come back to Southern California,”

“We are grateful to Blue Street for welcoming us back and to our sponsors for making these events possible.”

The industry-focused best practices panel moderated by Jim Merrilees, CLFP with the Alta Group, includes Lisa Whitehead, CLFP - First Foundation, Don Hansen- Regents Capital, David Rhoads- Blue Street Capital and Brent Hall, CLFP - Alliance Funding Group.

The event’s featured speaker is RJ Grimshaw, CEO of ABLE Leadership. Innovation is not just a buzzword; it's a mindset, a process, and a journey. RJ Grimshaw will guide participants through a journey of becoming a genuine innovator/ Intrapreneur. The session will weave together captivating tales and anecdotes, illustrating the essential "dos and don'ts" of the innovation process.

Equipment Finance Cares is a platform that showcases how equipment finance professionals and organizations are giving back to their respective communities. Foundations currently showcased for this event include Love Life Now, the Equipment Leasing & Finance Foundation, the Chris Walker Educational Fund, Tam Key Project, Operation Open Water, and the Mickey Riley Foundation. The day will conclude with a networking at Blue Street Capital’s office.

Jaimie Haver, CLFP - Happy Manufacturing is chairing the event. He exclaimed, "I'm excited to collaborate with the Southern California team, including Jenna Hubbard, Maggie Holly, CLFP, and Martina Rider-Porter, for the upcoming event. The charities we will be recognizing have deep and valuable meaning to some of our peers, and we are lucky to be able to support them by increasing awareness and raising money for a cause they care about!

For additional information on the event please go to:
https://equipmentfinancecares.com

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Maxim Commercial Capital Reports
Strong 2023 Results

Hard asset secured lender’s fundings
nearly doubled prior year’s performance

LOS ANGELES, CALIF.) – Maxim Commercial Capital (“Maxim”) announced strong results for the year 2023. The hard asset secured lender reported an 86% increase in funded deals during the year as compared to 2022. Maxim is a national provider of loans and leases from $10,000 to $3 million collateralized by class 6 and 8 trucks, trailers, heavy equipment, and real estate.

Maxim also announced Michael Kianmahd has been promoted to Chief Executive Officer, effective January 1, 2024. He previously served as the company’s Executive Vice President for 12 years and succeeds Maxim’s Founder, Behzad Kianmahd, who remains as Chairman.

Behzad Kianmahd, Co-Founder, Chairman, commented, “Michael has been instrumental in the company’s successful growth. He has spearheaded efforts to institutionalize our operations, including key projects in underwriting, collections, corporate development, and human resources. We are proud of his accomplishments thus far and the team he has built, and excited for him to lead the company into the future.”

Maxim’s growth during 2023 resulted from broadening its credit window as heavy-duty truck prices normalized after the extraordinary post-Covid run-up, increased demand from small business owners for growth capital, and less competition from alternative and conventional lenders.

Notable real estate-secured, cash-out financings funded during the year included a $100,000 term loan for a Florida-based optician with 35 years’ experience, enabling him to relocate to a larger store in a better location and providing working capital. The loan is secured by a junior lien on the borrower’s residence behind a favorably priced first mortgage. Maxim also closed a creatively structured $280,000 term loan for an entrepreneur to fund working capital for a startup business without diluting his equity. The loan is secured by a junior lien on a leased single-family home in Venice, CA owned by the entrepreneur.

Truck financings during the period included loans and leases for experienced and startup owner operators in 39 states across the U.S. Transactions included purchase financing for: an experienced owner-operator with good credit to buy a 2020 Volvo VNL64T740 with 516K miles for $67,500; a startup owner-operator with challenged credit to buy a 2018 Freightliner Cascadia with 557K miles for $43,308; and an experienced owner-operator with challenged credit to buy a 2018 Freightliner Cascadia 125 with 556K miles for $46,565.

CEO Michael Kianmahd, said, “I am humbled and honored to be part of this great team as its new CEO and look forward to continuing to build Maxim into the future.

“We are optimistic for a strong 2024 given the general expectation that the economy will avoid a deep recession, inflation appears to be subsiding, and interest rates will normalize. On-shoring and near-shoring trends should positively impact our customer and referral bases. And, as banks continue to retreat given portfolio challenges, Maxim will be in pole position to provide alternative financing solutions to the market.”

About Maxim Commercial Capital

Maxim Commercial Capital helps small and mid-sized business owners nationwide by providing loans and leases (“financing”) from $10,000 to $3 million secured by trucks, trailers, heavy equipment, and real estate. It funds equipment purchase financings and leases, working capital, and debt consolidations. Maxim’s more creative financing structures leverage equity in real estate and owned heavy equipment to facilitate growth and preserve customers’ cash. As a leading provider of transportation equipment financing, Maxim supports startup and experienced owner-operators and non-CDL small fleet owners by funding loans and leases for class 8 and class 6 trucks, trailers, and reefers. Learn more at https://www.maximcc.com/
or by calling 877-776-2946.

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News Briefs

Stock Market Irrationally Exuberant Again
Reminds Many of the Signs of 1929 Great Stock Market Crash https://nypost.com/2024/01/22/opinion/steel-yourself-the-stock-market-is-irrationally-exuberant-again

40% of Mid-Market CFOs Say Economic
Volatility is Greatest Risk
https://www.cfo.com/news/middle-market-cfos-economic-volatility-BDO-workforce-Wayne-Berson/705266/

GE’s forecast misses estimates
ahead of historic breakup
https://www.bostonglobe.com/2024/01/23/business/ges-forecast-misses-estimates/

Migrants want to work. And employers
want to hire them.
https://www.bostonglobe.com/2024/01/15/business/migrants-work-employers/

Alaska CEO says he’s ‘angry’ after
loose bolts found on ‘many’ Max 9 jets
https://www.washingtonpost.com/business/

F.A.A. Tells Airlines to Check Panels On
On Second Boeing Plane
https://www.nytimes.com/2024/01/22/business/faa-boeing-737-900er-door-plug.html

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Five myths about women and money
that need to be debunked
https://www.washingtonpost.com/business/2024/01/16/women-and-money-myths-debunked/

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Sports Briefs---

Chiefs' playoff win over Bills scores astronomical TV rating as divisional round sets NFL viewing records
https://www.cbssports.com/nfl/news/chiefs-playoff-win-over-bills-scores-astronomical-tv-rating-as-divisional-round-sets-nfl-viewing-records/

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California News Briefs---

Bidders compete to buy San Francisco's
historic Anchor Brewing
https://www.nbcbayarea.com/news/local/bidders-san-francisco-anchor-brewing/3430453/

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Gimme that Wine

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

How Ridge Vineyards Became
an Industry Icon
https://daily.sevenfifty.com/how-ridge-vineyards-became-an-industry-icon/

Sonoma, Napa hotels make Condé Nast
best in the world list
https://www.northbaybusinessjournal.com/article/article/sonoma-napa-hotels-make-conde-nast-best-in-the-world-list/

Sonoma County airport ascends
another record year
https://www.northbaybusinessjournal.com/article/industrynews/sonoma-county-airport-ascends-to-another-record-year/

California Wine Players See
More Consolidation Ahead
https://www.shankennewsdaily.com/2024/01/18/34690/california-wine-players-see-more-consolidation-ahead/

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