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

Kim King, Jr., was hired as Senior Account Manager, Odessa, Philadelphia, Pennsylvania. She is located in Columbia, South Carolina. Previously, she was Vice President, Small Ticket Sales, Bank Financial (April, 2022 - June, 2024); Business Development Representative , Navitas Credit Corp. (December, 2019 - March, 2022). She joined National Equipment Finance Association (NEFA) as Membership Manager, January, 2009; promoted Senior Association Coordinator/Meeting Manager (February, 2005 - December, 2019); Operations Manager, United Association of Equipment Leasing (UAEL) (January, 2005 - December, 2008). Full Bio:
https://www.linkedin.com/in/kimkng/details/experience/
https://www.linkedin.com/in/kimkng/

Brian Murphy, CLFP, was promoted to Senior Vice President, Director of SaaS Administration at First American Equipment Finance, Victor, New York. He is located in Fairport, New York. He joined the company June, 2008, Vice President, Project Manager, promoted June, 2014, Salesforce Platform Architect (June, 2014 - June, 2024).
https://www.linkedin.com/in/bryan-murphy-clp-9a715223/

Olayinka Sanusi was hired as Vice President, West Region, Acquis, Los Angeles Metropolitan Area. Previously, he was Senior Vice President, West Region, DLL (January, 2020 - June, 2024); Vice President, Southwest Region, Wells Fargo (April, 2018 - December, 2019); Vice President, West Region, Wintrust Financial Corporation (July, 2019 - March, 2018);Vice President, Relationship Manager, San Francisco Bay Area, JP Morgan Chase & Co. (February, 2014 - June, 2016). Full Bio:
https://www.linkedin.com/in/olayinkasanusi/details/experience/
https://www.linkedin.com/in/olayinkasanusi/

Brian Scott was hired as Managing Director, Equipment Finance, Alerus, Grand Forks, North Dakota. He is located in Phoenix, Arizona. Previously, he was at VasoHealthcare, joining April, 2010 as Director, Financial Services, promoted Vice President Finance and Services (April, 2010 - December 2017). Full Bio:
https://www.linkedin.com/in/bdscott/details/experience/
https://www.linkedin.com/in/bdscott/

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Sad News about Chesswood Group Limited
Sorry to See Barry Shafran Go in 2020
By Christopher Menkin, Editor

The Chesswood Group Limited stock is down considerably. It is really sad to see. Leasing News last week reported from a reliable source "Pawnee Leasing has stopped funding all deals and suspending originations.” Pawnee is an important part of the eco system.

One of the Canadian businesses owned by Chesswood is Rifco. Located in Red Deer. The website describes itself "Your Key to Auto Financing. Join thousands of satisfied customers who trust Rifco as one of Canada's leading non-prime auto finance companies."

Unfortunately, Leasing News has learned it has ceased funding and laid off a lot of people.

These are the Chesswood Group Limited companies, several located in the United States:
www.ChesswoodGroup.com
www.PawneeLeasing.com
www.TandemFinance.com
www.VaultPay.ca
www.VaultCredit.com
www.Rifco.net
www.WaypointInvestmentPartners.com
www.EasyLegal.ca

Leasing News July 7, 2020 wrote:"Popular Barry Shafran Out as President/CEO Chesswood Group Limited, Pawnee Parent among others." (1)

There was more to the story, but it was confidential. Shafran would also always make himself available for an interview, to talk the truth on and off the record. He was considered by those in the industry who knew him to be an excellent leader. He is missed.

(1) July 7, 2020 Article Shafran Leaving
https://leasingnews.org/archives/Jul2020/07_07.htm#popular

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

Build Your List
By Ken Lubin, ZRG Partners, Managing Director

We all have a list of people, ex-clients and potential clients that we know we should contact. It is the list in the back of our heads, in our inboxes or on our desk of people we know we should connect or reconnect with but never do. We always say that we will when we have time.

Now is the time.

We have more time than we ever had. We have time to reach out, to build our brand/business, to connect with those we haven’t yet connected with or reconnect with those we may have neglected to in the past. Here are 3 simple ways to build your list.

Download your LinkedIn connections list and take the time to determine who you should connect with or delete. Here are the Directions https://www.linkedin.com/help/linkedin/answer/66844/exporting-connections-from-linkedin?lang=en

Export the contacts in your inbox to an Excel spreadsheet and sort by priority of who you should reach out to. Determine who the influencers are in your space that could be potential clients and connect.

One thing I do is look at the speakers at top industry events and reach out to them directly. You can do it via LinkedIn. Or with a little ingenuity and out of the box thinking you can send them emails directly. One way to test if you have the right email is to use https://mailtester.com/

Now is the time to take the internal list of who we should be contacting that is floating in our brain and put it on paper (virtual paper) and make the effort to connect. Many of your contacts are likely just as perplexed on what to do during these times as you. Perhaps when you team up, great things can happen.

Good luck, stay safe!

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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Top Ten Leasing News Read by Readers
June 18 - June 20

(1) New Kansas Disclosure Law
Ken Greene, Leasing News Emeritus
https://leasingnews.org/archives/Jun2024/06_18.htm#kan

(2) Chesswood Provides Strategic Review Update
Evaluation by Special Committee
Special Committee Points Toward Sale of Units or Whole
Company
https://leasingnews.org/archives/Jun2024/06_18.htm#chess

(3) New Hires/Promotions in the Leasing Business
and Related Industries
https://leasingnews.org/archives/Jun2024/06_20.htm#hires

(4) AP Equipment Financial Leadership Training
By Nick Fong, CLFP, in LinkedIn Posting
https://leasingnews.org/archives/Jun2024/06_18.htm#ap

(5) CLFP Foundation Add 18 New CLFPs
With Photos
https://leasingnews.org/archives/Jun2024/06_18.htm#clfp

(6) CLFP Growth by Company
Three or More CLFP’s
https://leasingnews.org/archives/Jun2024/06_18.htm#clfp2

(7) Tax Burden of Every U.S. State
by VisualCapitalist
https://leasingnews.org/archives/Jun2024/06_20.htm#tax

(8) ZRG Secures $120 Million In Debt Financing
From Main Street Capital
By Scott A. Scanlon, Co-CEO Hunt Scanlon Ventures
https://leasingnews.org/archives/Jun2024/06_20.htm#zrg

(9) 63rd Annual ELFA Convention
Call for Proposals
https://leasingnews.org/archives/Jun2024/06_20.htm#elfa

(10) Lovern J. Gordon, CLFP, Love Life Foundation
Wins Massachusetts Award
https://leasingnews.org/archives/Jun2024/06_20.htm#lg

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GreatAmerica Financial Services Celebration
by Lorraine Perkins, CLFP, Vendor Finance
posted on LinkedIn

"What a great week of meetings and celebrating a successful year with my colleagues at GreatAmerica! Grateful to work with such an amazing group of people!#TeamAppreciation #WorkCelebration"

Origins of Great America

GreatAmerica Financial Services created Collarbone in 2009 to assist office equipment, copier, and telecom providers in expanding into managed IT services. It has since broadened its support to IT providers and resellers of various sizes and expertise levels.

The Secret of Our Success
by Tony Golobic, GreatAmerica Leasing
https://leasingnews.org/archives/Oct2010/10_08.htm#secret_success

(Originally published in Leasing News Friday, October 8, 2010)

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

Brean Capital Closes $45.0 Million
Corporate Note Financing for Kapitus

NEW YORK, NY – Kapitus, a leading provider of financing for small and medium sized businesses, announced the closing of a $45.0 million investment-grade corporate note financing. The closing of this most recent financing increases the Company’s total debt facilities to $585.0 million. Proceeds from the transaction will be used to further expand the Company’s portfolio of financing products and making further technology investments in its funding platform, making it easier for more small businesses to acquire critical growth capital more quickly.

Brean Capital, LLC served as the Company’s exclusive financial advisor and sole placement agent in connection with the transaction.

Andrew Reiser, Chief Executive Officer of Kapitus, said, “With this most recent round of financing, Kapitus reaffirms its commitment to stand ready to support small businesses with fast and efficient funding alternatives. Recent research continues to show that businesses are finding it more and more difficult to access capital as both bank and non-bank lenders pull backs.

“By expanding the products we are able to provide and enhancing the speed in which small businesses can receive financing, we will be able to address the unmet needs of thousands of small businesses across the U.S.”

To date, over $6 Billion in growth capital has been provided to almost 55,000 small businesses through Kapitus.

Anthony Rose, Chief Financial Officer of Kapitus, said, “This capital raise also shows a vote of confidence from our investors in our business model, diversifies our capital structure, and gives us flexibility as to how and when we deploy capital to support small businesses.

“Despite a tight credit environment, we continue to see opportunity to provide capital to small businesses and this raise further enables us to execute our strategic plan more effectively while maintaining our focus on delivering enhanced value to small businesses”

Founded in 2006, Kapitus is one of the most experienced and trusted names in small business financing. As both a direct lender and a marketplace with an expansive network of financing partners offering a variety of products, Kapitus has provided over $6 billion in growth capital to almost 55,000 small businesses. Kapitus, either directly or through trusted partners, offers products tailored to the need of every small business including term loans, sales-based financing, SBA loans, equipment leases, and revolving lines of credit. For additional information about the company, visit: https://kapitus.com/

Brean Capital’s Investment Banking Group is dedicated to helping its clients achieve their strategic and financial goals. For more than 40 years, the Firm has specialized in providing capital raising, M&A and financial advisory services to middle market businesses. Throughout its history, Brean Capital has established a track record of providing its clients with deep market knowledge, commitment and experience to ensure a successful transaction. For more information, please visit: https://breancapital.com

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

News Briefs

Farewell: Fintech Nexus is shutting down
After a 11 Year Run
https://www.fintechnexus.com/farewell-fintech-nexus-is-shutting-down/

Major SF Bay Area Tech Co. Chegg to lay off
23% of global workforce
https://www.sfchronicle.com/tech/article/major-bay-area-tech-company-lay-23-global-19524537.php

Oakland recycling executives raided by the FBI
have spent years schmoozing Bay Area politicians
https://mail.google.com/mail/u/0/#inbox/FMfcgzQVxHhTfBgFpgkbzXpNkwsfgQrR

UPS agrees to sell its freight-brokerage division
for less than it paid for the business in 2015
https://apnews.com/article/ups-sale-freight-broker-georgia-rxo-2c262262a29e27244ad515603af2e6a5

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On-Premise Spending on the Rise this Summer
On PremiseDinning Up Noticeably
https://www.winebusiness.com/news/article/289007

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Sports Briefs---

Brock Purdy isn’t just 49ers QB1,
he’s become the team’s leader
https://www.49erswebzone.com/articles/181448-brock-purdy-49ers-teams-leader/

Ex-49ers QB Jimmy Garoppolo suspended,
expected to be released by Raiders
https://www.49erswebzone.com/articles/178724-ex-49ers-garoppolo-suspended-expected-released

Klay Thompson reportedly closer than ever
to leaving the Warriors
https://www.sfgate.com/warriors/article/klay-thompson-reportedly-closer-leaving-warriors-19530649.php

Intruders run onto 18th green of Travelers Championships,
delaying Scheffler-Kim Finish
https://apnews.com/article/travelers-championship-intruders-18th-hole-police-bc3e9408e9417b8520fe866795761fe2

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California News Briefs---

Why It Pays for Startups to Move
to Silicon Valley
https://www.wsj.com/business/entrepreneurship/silicon-valley-companies-tech-startups-be9e86db?mod=business_lead_pos1

Opinion: As Oakland reaches a fiscal cliff
Mayor Sheng Thao plans to jump
https://www.eastbaytimes.com/2024/06/22/opinion-as-oakland-reaches-a-fiscal-cliff-mayor-thao-plans-to-jump/

SF Bay Area radio legend Narsai David, who
answered listeners' questions for decades, dies
https://www.sfgate.com/food/article/bay-area-narsai-david-dies-19530579.php

California hiker ate berries to survive
for nine days while lost in Santa Cruz Mountains
https://www.sfchronicle.com/outdoors/article/santa-cruz-mountains-missing-man-19530191.php

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Gimme that Wine

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

Wine 101: Why top-scoring wines have a following
102 Wineries Pouring
https://www.pressdemocrat.com/article/lifestyle/top-wines-napa-sonoma/

Are Reusable Wine Bottles Becoming a Real Movement?
60 Oregon Wineries to Adopt
Revino's Refillable Bottles
https://www.winebusiness.com/news/article/289031

Ancient Peaks Launches Driver-Optional electric
Tractors at Margarita Vineyard
https://www.winebusiness.com/news/article/289035

Paso Robles Wine Country Alliance Foundation
gifts $40K in local scholarships
https://www.winebusiness.com/news/

4 Restaurants Win New Grand Awards in 2024:
Lazy Bea in San Francisco, Grasing's in Carmel-
by-the-Sea, Lazy Bear in San Francisco, Le Bistro
de l'Hotel in Beaune; The Yeatman in Porto.
https://www.winespectator.com/articles/wine-spectator-honors-4-new-restaurant-grand-award-winners-2024

Napa, Marin, Lake, Mendocino counties get more
insurance coverage in California’s latest plan
https://www.northbaybusinessjournal.com/article/industrynews/california-insurance-zip-codes-catastrophe/

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