New Hires/Promotions in the Leasing Business
and Related Industries

CJ Colton was hired as Assistant Vice President, Sales, CoreTech, Newport Beach, California. He is located in Lewes, Delaware. Previously, he was Account Executive, Pacific Rim Capital (October, 2021 - December, 2024); National Account Executive, Fifth Third Bank (March, 2020 -October, 2021); Account Executive, Regents Capital Corporation (October, 2019 - March, 2020).
https://www.linkedin.com/in/cjcolton/ 

Jenna Lester was promoted to Business Development Officer, PNC, Denver, Colorado, where she also is located. She joined PNC as Vice President, Equipment Finance Specialist (December, 2019 - January, 2025); Associate Relationship Manager, Key Private Bank (May, 2019 - November, 2019). She joined Key Equipment Finance June, 2015, Accelerated Career Track (ACT) Program in Equipment Finance, June, 2016, promoted April, 2017, Inside Sales, Middle Market, promoted Equipment Finance Officer, Business Banking (July, 2018 -May, 2019).
https://www.linkedin.com/in/jennalester/

Lori Littleford, CLFP, was hired as Sales Director, FORT Capital Resources, Raleigh, North Carolina.
She works remote from Monument, Colorado. Previously, she was Vice President, Manager of Business Development, West Region, Third Party, Macquarie Group (December, 2019 - September, 2014); Vice President, Senior Business Development Officer, Equipment Finance, Hanmi Bank (March, 2017 - January, 2019); Vice President, Marketing Manager, 3rd Party Originations, Bank of the West (February, 2016 - March, 2017).  Full Bio:
https://www.linkedin.com/in/lori-littleford/details/experience/
https://www.linkedin.com/in/lori-littleford/

Greg Stitt appointed Senior Vice President to bolster 36th Street Capital, Morristown, New Jersey  He is located in Rochester, New York. Previously, he was Senior Director of Capital Markets, Auxilior Capital Partners, Inc. (August, 2024 - January, 2025). He joined First American Equipment Finance January, 2016, Credit Analyst, promoted November, 2017, Senior Credit Analyst, promoted AVP, Syndications (January, 2018 - July, 2024).
https://www.linkedin.com/in/greg-stitt-2599163a/

Jessica VanWert, Attorney, was became a Member of Bodman, PLC, Detroit, Michigan. She is located in Troy, Michigan. Previously, she was General Counsel, First Financial Equipment Leasing (December, 2022 - Present); Vice President, Senior Counsel, Pathward (March, 2021 - December, 2021). She joined Mitsubishi UFJ Lease * Finance (U.S.A.), Inc. Promoted Deputy General Counsel (February, 2020 - March, 2021). Full Bio:
https://www.linkedin.com/in/jessica-vanwert-a02754123/details/experience/
https://www.linkedin.com/in/jessica-vanwert-a02754123

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##### Press Release #######################

AP Equipment Financing Celebrates 2024 Achievements
and Outstanding Leadership

BEND, OR. – AP Equipment Financing, a leader in equipment leasing and financing solutions, reflects on an exceptional 2024, celebrating both organizational milestones and the recognition of remarkable leaders within its team. AP finalized a record-breaking year with a 58% increase in originations volume in 2024 compared to 2023 and is now actively managing a portfolio of $881 million.

Celebrating 20 Years of Leadership with Chris Lerma
2024 marked a significant milestone for Chris Lerma, CLFP, AP’s President, who celebrated his 20th anniversary with the company. Starting as employee #9, Chris has played a pivotal role in shaping AP’s growth and strategy over the past two decades. From founding the syndication division to developing the company’s credit philosophy, expanding sales industry verticals, and overseeing all operations, Chris continues to exemplify dedication, innovation, and steadfast leadership.

Honoring Industry Recognitions

AP’s CMO & CTO, Nick Fong, CLFP, has been recognized as a "Monitor NextGen Icon" for his forward-thinking leadership and innovative strategies. Over his 14-year career at AP, Nick has seamlessly integrated marketing and technology, driving operational excellence and positioning AP for future growth. Nick’s collaborative leadership style and focus on understanding consumer behavior have been instrumental in shaping AP’s success.

Additionally, AP proudly congratulates Docs & Funding Manager, Melanie Rudiger, CLFP, who has been named one of Monitor’s "Top 50 Women in Equipment Finance." With 12 years of experience in the industry, Melanie has demonstrated unparalleled expertise across diverse products and sectors. Her servant-leadership style fosters trust, active listening, and team empowerment, equipping AP for long-term success.

AP Fleet Management Secures Landmark Deal

AP Fleet Management, a growing division under AP Equipment Financing, has marked an incredible achievement by securing its largest leasing transaction to date—$11,140,000 to an investment grade US company—within its first year of operation. Furthermore, AP has partnered with PALFINGER to provide rent, lease, and finance options for their insulated and non-insulated bucket trucks, and AP purchased and deployed over $30 million in 3-to-24-month fleet rental assets in the second half of 2024.

Positioned for Growth in 2025 and Beyond

AP Eq CEO Chris Enbom, CLFP, remarked, “Equipment Financing is well positioned for continued growth this year and beyond” states “We look forward to where the AP Fleet Management division will grow in 2025 and beyond as it provides expanded solutions for fleet businesses across the U.S. Additionally, AP’s focus on expanded financing programs and diversified industry verticals sets the stage for an exciting trajectory of growth and achievements.”

About AP Equipment Financing:

Founded in 1998 and based in Bend, Oregon, AP Equipment Financing is a subsidiary of Tokyo Century (USA) Inc., the U.S. subsidiary of Tokyo Century Corporation. Tokyo Century Corporation, headquartered in Tokyo, has 7,800 employees, and offers specialty leasing and other high value-added financial services in more than 30 countries. AP Fleet Management is a division of AP Equipment Financing.

AP Equipment Financing is renowned for its reliability, consistently delivering innovative financial services and comprehensive expertise to ensure customer satisfaction. The affiliation with Tokyo Century Corporation grants AP the financial strength and resources of a large organization, while enabling them to uphold the swift and personalized characteristic of an agile independent enterprise.

https://apfinancing.com/company/https://apfinancing.com/company/

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Leasing and Finance Industry Help Wanted
Excellent Compensation/Marketing Support

Amended New Jersey Financial Disclosure Bill
By Sloan Schickler, Esq.

It appears that once again, New Jersey is poised to try and pass a commercial finance disclosure law. On December 19, 2024, the New Jersey State Senate amended a bill intended to cover such disclosures. Senate Bill 1397 (“Bill”) now defines commercial financing as follows:

“Commercial financing” means an open-end financing, closed-end financing, sales-based financing, factoring transaction, finance lease, as that term is defined in N.J.S.12A:2A-103 or any other form of financing, the proceeds of which the recipient does not intend to [us] use primarily for personal, family, or household purposes.

The Bill exempts the following entities and transactions
from commercial finance disclosure:

     (1)   a financial institution;

     (2)   a lender regulated under the federal “Farm Credit Act” (12 U.S.C. s.2001 et seq.);

     (3)   a commercial financing transaction secured by real property;

     (4)   a person or provider who makes not more than five commercial financing transactions in New Jersey in a 12 month period;

     (5)   an individual commercial financing transaction in an amount over $500,000 dollars;

     (6)   a commercial financing product that is a factoring transaction, purchase, sale, advance, or similar of accounts receivables owed to a health care provider because of a patient's personal injury treated by the health care provider; or

    (7)   a lease as defined in N.J.S.12A:2A-103.
The New Jersey Uniform Commercial Code N.J.S.12A:2A-103(j) defines a lease as follows: “a transfer of the right to possession and use of goods for a term in return for consideration, but a sale, including a sale on approval or a sale or return, or retention or creation of a security interest is not a lease. Unless the context clearly indicates otherwise, the term includes a sublease.”

Under the Bill, providers of commercial financing are required to provide disclosures that vary based upon the type of commercial financing or factoring transaction and include: the finance charge, the estimated annual percentage rate, the total payment amount, a description of other potential fees and charges and a description of the collateral.

The Bill also provides that the regulations to be developed by the New Jersey Department of Banking and Insurance to be promulgated under the new disclosure law should be, to the extent possible, consistent with similar regulations issued in other jurisdictions.

Currently, the Bill is scheduled for a second reading in the New Jersey Senate. Three readings are required to pass a bill. An identical bill, A865, has been introduced in the New Jersey Assembly and referred to the Financial Institutions and Insurance Committee. No information was found as to future steps at this time.

Sloan Schickler is a partner in the commercial finance law firm, Schickler & Schickler PLLC (www.schicklerlaw.com). 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 NVLA Legal and Legislative counsel since 2017, is currently the only woman on the NVLA 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.

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Opportunities in Leadership:
A Spotlight on Executive Roles in 2025
By Ken Lubin, Managing Director, ZRG Partners

As the new year kicks off, companies across industries are actively seeking top-tier talent to lead critical functions in their organizations. From sales leadership to legal and financial expertise, the demand for experienced executives continues to grow. Below, we spotlight several compelling opportunities for professionals ready to take the next step in their careers.

1. EVP of Sales – Boston Market
A thriving organization in the financial services space is looking for an Executive Vice President of Sales to oversee its Boston operations. This high-impact role calls for a seasoned leader with a proven track record in building and managing dynamic sales teams. Candidates should be adept at driving revenue growth, cultivating client relationships, and strategizing in competitive markets. Boston-based executives with a passion for innovative financial solutions are encouraged to explore this opportunity.

2. Assistant General Counsel – Pathway to General Counsel
For legal professionals with leadership aspirations, a global financial organization is seeking an Assistant General Counsel with the vision to step into the General Counsel role. This position offers the chance to shape legal strategy, navigate complex regulatory landscapes, and serve as a trusted advisor to the executive team. It’s an ideal fit for those who are entrepreneurial, forward-thinking, and ready to take on increasing responsibility in a growing company.

3. CFO
A leader in the equipment financing sector is searching for a Chief Financial Officer to drive its financial strategy and operations. This role requires a seasoned executive with deep expertise in financial planning, risk management, and capital markets. The ideal candidate will collaborate closely with the CEO to steer the company toward sustained growth, profitability, and innovation in the competitive finance industry.

4. Large Ticket Business Development Executive
A premier financial institution specializing in large-ticket transactions is looking for a Business Development Executive to spearhead its growth strategy. This role is perfect for a driven professional with expertise in sourcing, structuring, and closing high-value deals. With a focus on relationship management and market expansion, this position offers a chance to make a significant impact in a results-oriented environment.

5. Head of Sales – Small Ticket Independent Finance Company
A well-established small ticket independent finance company is seeking a Head of Sales to lead its revenue generation efforts. This role requires a dynamic leader with strong team-building skills and a passion for the small ticket finance market. The ideal candidate will thrive in a fast-paced environment and bring innovative strategies to maintain the company’s leadership position in the industry.

Seize the Opportunity
The start of a new year is an excellent time to reflect on your career trajectory and explore opportunities that align with your ambitions. Whether you're ready to lead a sales team, transition into a General Counsel role, or drive financial growth as a CFO, these roles offer exciting possibilities to make a lasting impact.

If one of these opportunities resonates with you, don’t hesitate to reach out or start the conversation. The right role could be the next step in your professional journey toward success.

Ken Lubin
Managing Director
ZRG Partners, LLC
Americas I EMEA I Asia Pacific
C: (508) 733-4789
O: (508) 762-1970
https://www.linkedin.com/in/klubin

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Key Insights by Tarry Shebesta
Fintech Innovator, Credit Fraud Prevention
President, National Vehicle Leasing Association

As we step into 2025, I’m excited to share some key insights and priorities for the year ahead with dealers, lenders, lessors, marketing agencies, and vendors across the Auto, RV, PowerSports, and other verticals.

Industry Game Changers
Entering my 36th year in the industry, I’ve seen incredible changes as a CEO, entrepreneur, investor, dealer, lender/lessor, marketer, and FinTech leader. This year, three major themes will shape our focus:

1. Tackling Identity Fraud
Fraud continues to grow rapidly, with auto finance fraud projected to hit $8.5 billion in 2025. To address this, we introduced FlexPath's VeriQual™, a patent-pending fraud prevention technology combining identity verification and credit prequalification using just a phone number.

We also launched the VeriQual Fraud Prevention Network (VFPN), enabling industry collaboration to report fraud and connect with law enforcement. Let’s work together to mitigate these growing threats!

2. Exploring AI Opportunities
AI is reshaping our industry, from Generative AI Personas to automation, offering new ways to engage customers, improve operations, and drive growth.

Working with innovators in this space has been inspiring and humbling. I encourage you to explore AI across your organization to uncover its transformative potential.

3. Growing Auto Leasing with NVLA
As President of the National Vehicle Leasing Association (NVLA), I’m proud to support the auto leasing industry through advocacy, education, and innovation. Leasing continues to evolve as a flexible and accessible financing option for consumers.

Join us at the NVLA 2025 Conference in April to learn more about advancements in leasing and industry best practices.
Learn more: https://lnkd.in/eJwmwESc

Let’s Collaborate in 2025
I’ll be attending AFSA, NADA, and AIMExpo to showcase VeriQual™ and connect with many of you. Let’s make 2025 a year of innovation, collaboration, and success!

VeriQual™ complements existing fraud prevention tools, providing a powerful defense against identity fraud while enhancing financing lead generation.

For those who may not know me, here’s a quick refresher: https://lnkd.in/eqMswTjx

News Briefs

Los Angeles Already Had a Housing Shortage
    Wildfires Will Make It Worse.
https://www.nytimes.com/2025/01/09/business/la-fires-housing-shortage.html

A Running List of Los Angeles Restaurants
    Impacted by the 2025 Palisades and Eaton Wildfires
https://la.eater.com/2025/1/7/24338882/los-angeles-pacific-palisades-eaton-canyon-fire-restaurant-closure

Massive port strike averted, as shippers
    and union reach tentative agreement
https://www.washingtonpost.com/business/2025/01/08/port-strike-negotiations/

30-Year Mortgage Rate Climbs to 6.93%,
    the Highest Since July
https://www.nytimes.com/2025/01/09/business/mortgage-rates-housing.html

Macy’s Store Location Closures
    Full 66 Store Locations
https://s202.q4cdn.com/285121676/files/doc_downloads/investors/FY-2024-Year-End-Closures-1-9-2025.pd

US orange juice and steel will be on Canada’s
    list for retaliation if Trump imposes tariffs
https://www.bostonglobe.com/2025/01/09/nation/trump-canada-tariffs/

Los Angeles Fire Damage Likely to Be
    Costliest Blaze in U.S. History - $50 billion and rising
https://www.wsj.com/us-news/los-angeles-fires-recovery-costs-billions-12201ee5?st=obEh4L&reflink=desktopwebshare_permalink

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Americans Are Tipping Less Than They Have in Years
https://www.wsj.com/business/hospitality/restaurant-tip-fatigue-servers-covid-9e198567?st=CHd3Wc&reflink=desktopwebshare_permalink

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Sports Briefs---

Why General Manager Is the Hottest
   Job in College Sports
https://www.nytimes.com/2025/01/09/business/college-sports-general-managers.html

Kurtenbach: The Warriors are at rock bottom
and inaction is no longer defensible
https://www.eastbaytimes.com/2025/01/09/kurtenbach-the-warriors-are-at-rock-bottom-and-inaction-is-no-longer-defensible/

Steve Kerr's Warriors frustration came tumbling
out after 1 reporter's question
https://www.sfgate.com/warriors/article/steve-kerr-warriors-frustration-reporters-question-20023047.php

49ers' John Lynch stands up for Kyle Shanahan
in tense press conference exchange
https://www.sfgate.com/49ers/article/49ers-lynch-shanahan-tense-special-teams-exchange-20023382.php

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California News Briefs---

Live Updates: L.A. Wildfires Force Thousands
  to Evacuate Pacific Palisades
https://www.nytimes.com/live/2025/01/07/us/palisades-brush-fires-california

Pacific Palisades fire burning out of control
  as thousands evacuate amid dangerous windstorm
https://www.latimes.com/california/story/2025-01-07/life-threatening-and-destructive-wind-storm-to-hit-southern-california-what-to-know

Biden establishes 2 new national monuments in
   California, as part of final big environmental push
https://www.eastbaytimes.com/2025/01/07/biden-establishes-two-new-national-monuments-in-california-as-part-of-final-big-environmental-push/

Soaring electricity bills could hobble
 California’s green energy push: report
https://www.eastbaytimes.com/2025/01/07/pge-power-energy-electric-california-economy-bill-fire-green-newsom/

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Gimme that Wine

 

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

Wine Just Got Fun-Sized
  Today's Size of Wine  Bottles
https://www.vinography.com/2025/01/wine-just-got-fun-sized

The Garagiste Wine Festival Returns to Solvang
with 30 Winemakers, 150+ Wines
https://www.winebusiness.com/news/article/296908

Top US Wine Auction For the Arts
To Toast To Its 33rd Year in Atlanta, GA.
https://www.winebusiness.com/news/article/29691