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The Commercial Finance Industry Evolution
By Scott Wheeler, CLFP

The commercial equipment finance and leasing industry is highly resilient and has proven over many decades its ability to innovate and deliver meaningful products to businesses throughout the US economy. The industry is currently preparing for the next evolution of superior products and services. It is embracing advanced technology, new resources, efficiencies, and creative products which will produce a better buying experience for both end-users and vendors. These are truly exciting times for the industry.

Early 1990's: A thirty-year veteran explained to a young sales manager how the industry was changing. Computers would significantly change the commercial equipment finance and leasing industry. A new concept of credit scoring would take some of the human element out of the credit process. Someday, applications would no longer be hand-written and submitted in person or by fax machines. The idea of the internet was not even conceivable. The young sales manager asked whether machines would replace the need for humans. Would there be a need for professionals who knew every aspect of the process and were engaged with vendors on a daily basis? The veteran explained how the advancements were mere tools that would be used to enhance the abilities of industry professionals to deliver services faster, more efficiently, and with more accuracy than ever before.

The industry grew significantly over several decades with more production, more career opportunities, and stronger services. The industry withstood: the dot.com implosion, the housing bubble, the great recession, a world pandemic, and a rapid 500 basis point increase in interest rates between March 2022 and July 2023. These adversities forced the industry to evolve.

Today: As a more than 40-year industry veteran, I can offer my younger colleagues the following advice. The future is bright for the commercial equipment finance and leasing industry. The current transitions within our industry are necessary and are creating additional tools for serious professionals to deliver services faster, more efficiently, and with more accuracy than ever before. Industry professionals should embrace the future, engage with fellow industry professionals, prepare for additional career opportunities, and establish themselves as leaders in the commercial equipment finance and leasing industry.

Wheeler Business Consulting is working with individual originators and sales teams throughout the industry to ensure that they are well positioned in the market, capturing their fair share of business, and outperforming the competition. To schedule a one-on-one meeting contact Scott Wheeler at: scott@wheelerbusinessconsulting.com

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First American named on "Selling Power
60 Best Companies to Sell For in 2024"

First American Equipment Finance, a Subsidiary of by City National Bank & RBC, announced it was recognized on the Selling Power 60 Best Companies to Sell For in 2024 list. The 24th annual list features companies leading the charge in perseverance and determination despite facing inflationary headwinds within a period of transformational technological change. This is First American’s eighth consecutive year on the list.

To assemble this year’s list, the research team at Selling Power created a thorough application to gather data across five key areas: company overview, compensation and benefits, sales hiring and training strategies, commitment to fostering diversity and inclusion, and AI incorporation for improving sales processes. The list includes companies of various sizes ranging from medium to enterprise.

Mike Wiedemer, National Sales Director, said, “We are incredibly proud of our team and the dynamic sales culture they created here at First American.

“This recognition highlights the incredible efforts of our sales colleagues, who consistently deliver expertise, professionalism, and unwavering dedication to client success.”

First American’s vision is to become the best company to work for, and the best company to work with.

Subsidiary of by City National Bank & RBC

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Leasing and Finance Industry Help Wanted
Excellent Compensation/Marketing Support
Plus other openings for successful, growing funders

Download Your Summer Business Planner
By Melanie Goodman

Melanie Goodman has produced a 32-page Summer Planner with the goal of creating a less streefull schedule without losing clients or income.

Click to Download:
https://www.trevisanconsulting.com/summer-planner/

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Ranked: Countries with the Most
Millionaires and Billionaires

This graphic lists the top 12 countries by number of high net worth individuals (HNWIs). An HNWI is someone with liquid investable wealth of $1 million USD or more.

Importantly this excludes assets such as primary residences from counting towards wealth. Data for this graphic is sourced from the Henley Private Wealth Migration Report 2024.

Where Do the Wealthy Live?

The U.S. leads the world with a massive millionaire (>$1 million USD) population of 5,492,400. To put this into perspective, the U.S. has more millionaires than Ireland has people.

Unsurprisingly, America also has the most centi-millionaires (9,850) and billionaires (788) as well.     

Note: Data current to December, 2023.

Far behind the U.S. in all three metrics, China is the next country with the most millionaires (862,400) and billionaires (305).

However, despite ranking 11th in terms of millionaires, India has the world’s third-largest billionaire population (120).

Economic size is a clear indication of a country’s propensity to having more numbers of high net worth individuals. Nine of the top 12 countries with the biggest wealthy populations are also the top 10 countries by gross domestic product.

However, Switzerland and Singapore are two countries that punch above their weight, helped by their status as offshore financial centers. With their tax benefits, asset protection, and privacy, they tend to attract wealthy individuals at a higher rate. For smaller countries, attracting this outside wealth can dramatically increase economic activity.

   
Source: Visualcapitalist

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

First National Capital Provides $65 Million
to National Transportation Company

IRVINE, Calif.,  – First National Capital Corporation (FNCC), a full-service commercial equipment and aviation finance provider, has announced the establishment of a $65,000,000 capex facility to fund the rolling stock acquisition needs of a national transportation company.

The transportation company sought to modernize its fleet to enhance market competitiveness and provide customers with a contemporary, reliable, technology-enabled transportation experience. FNCC’s flexible financing solution aims to reduce costs while offering the option to purchase, return, or continue renting vehicles beyond the initial 5-year period.

Keith Duggan, CEO of FNCC, remarked, “Assisting a renowned brand in positioning itself for growth with a truly flexible capital solution exemplifies our commitment to facilitating transactions while traditional lenders are scaling back. Through a covenant-lite structure, we delivered scalable access to capital that complements senior lenders in the bank group, successfully executed with a foreign parent.”

Across a wide variety of industries and asset classes, First National Capital helps mid-sized and large companies with competitive equipment financing across an extensive variety of business and credit situations. FNCC has deployed more than $4B in capital to companies throughout the U.S. for equipment, project, and aviation financing. For more information, please visit the First National Capital Corporation website at https://www.firstnc.com/

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

German Shepherd Dog Mix
Roseville, California  Adopt-a-Dog

Meet Cori

Hi, I'm Cori! I'm full of energy and love to play. Toss me a ball and I'll fetch it every time, guaranteed. I'm also pretty good at finding hidden treats, so you could say I'm a bit of a detective. I love people and make friends easily. I'm loyal too. Once I've decided you're my person, that's it, I'm yours. I'll always be there to cheer you up with a wag of my tail or a playful nudge.

I promise to fill your life with joy and companionship. Why should you adopt me? Because I'm Cori, and I'm ready to make your life a whole lot brighter! I am still learning how to share my favorite treats and I also like to jump up to greet my favorite people. Because of this, my friends at the shelter are requiring that any children in my new home are age 10 or older.
I am selective of the other dogs I share my space with so my friends at the shelter will be providing a dog introduction to potential adopters who already have a canine companion at home.

Adoption Price: $200
Monthly Promotion Applies.

Placer SPCA
Roseville, CA
200 Tahoe Avenel
Roseville, CA 95678
(916) 782-7722

customercare@placerspca.org

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News Briefs

Chesswood Group Limited Credit Waiver to
    Expire July 15, extended to August 2, 2024
https://finance.yahoo.com/news/chesswood-provides-credit-facility-action-213000177.html

Former Prime Capital CEO Kris Rogerli
    tries to regain freedom as he awaits trial
https://www.timesunion.com/business/article/kris-roglieri-tries-regain-freedom-awaits-trial-19574775.php 

Elon Musk confirms Tesla ‘robotaxi’ event delayed
    due to design change
https://techcrunch.com/2024/07/15/elon-musk-confirms-tesla-robotaxi-event-delayed-design-change

Ace Hardware Celebrates 100 Years with 100 New Stores
    Opened So Far This Year, Including Its 5,000th Domestic Location
https://www.prnewswire.com/news-releases/ace-hardware-celebrates-100-years-with-100-new-stores-opened-so-far-this-year-including-its-5-000th-domestic-location-302197805.html

Cold-Storage Leader Lineage Targets
    Up to $3.85 Billion in IPO
https://www.wsj.com/articles/cold-storage-leader-lineage-targets-up-to-3-85-billion-in-ipo-296c98eb

Danaos Adds Deals for Five New Ships
    to Busy Container Market
https://www.wsj.com/articles/danaos-adds-deals-for-five-new-ships-to-busy-container-market-eae84f07?mod=business_feat1_logistics_pos2

The Law Firm Hitting Businesses With
    Thousands of Disability Suits
https://www.wsj.com/business/entrepreneurship/small-business-web-accessibility-lawsuits-c910f6fb

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Do EVs catch fire more than gas-powered cars?
Here’s what the data show
https://www.bostonglobe.com/2024/07/16/business/care-fire-electric-vehicles/

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Sports Briefs---

Brandon Aiyuk requests trade from 49ers
     as WR seeks new contract
https://www.nfl.com/news/brandon-aiyuk-requests-trade-from-49ers-as-wr-seeks-new-contract
   

MLB commissioner Manfred talks A’s owner Fisher,
scorching Sacramento heat, and Oakland
https://www.eastbaytimes.com/2024/07/16/mlb-commissioner-manfred-talks-as-owner-fisher-scorching-sacramento-heat-and-oakland/

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California News Briefs---

Elon Musk Says He Will Move X and
  SpaceX Headquarters Out of California
https://www.wsj.com/us-news/law/elon-musk-says-he-will-move-x-and-spacex-headquarters-out-of-california-dbfe0789

Elon Musk to give $45 million a month
    to pro-Trump super PAC
https://www.mercurynews.com/2024/07/16/elon-musk-to-give-45-million-a-month-to-pro-trump-super-pac/

Silicon Valley cheers JD Vance VP pick as
   more tech billionaires back Trump
https://nypost.com/2024/07/16/business/silicon-valley-cheers-jd-vance-more-tech-billionaires-back-trump/

Laurene Powell Jobs just bought the most
   expensive home in SF history
https://www.sfgate.com/realestate/article/most-expensive-home-in-sf-19575696.php

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Gimme that Wine

 

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

A ‘force of nature’: Award-winning local
    winemaker’s resilience pays dividends
https://www.pressdemocrat.com/lifestyle/wine/?ref=nav

From piccolo to Pinot Noir: former flutist creates
harmony in a glass in Sonoma
https://www.pressdemocrat.com/article/lifestyle/indian-american-winemaker-napa-sonoma/

The Overlooked States Redefining East Coast Wine
The Scene is Heating Up
https://daily.sevenfifty.com/the-overlooked-states-redefining-east-coast-wine/

New Mexico Wine: The Next Steps
Planting Experimental Vineyards
https://www.thechalkreport.com/post/new-mexico-wine-the-next-steps

Decoy Unveils Debut Vintage of Decoy Limited
Paso Robles Cabernet Sauvignon
https://www.winebusiness.com/news/article/289947

Local wine grape growers brace for challenging
market as harvest approaches
https://www.winebusiness.com/news/article/289947