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Friday, June 13, 2025


Today's Leasing News Headlines

New Hires/Promotions in the Leasing Business 
    and Related Industries
Texas Supreme Court Clarifies Usury Law
    By Ken Greene, LN Legal Editor, Emeritus
Change is Here with New SBA 5010 8 Guidelines
    By Bob Coleman, Coleman Report
Leasing/Finance Help Wanted
  Balboa Capital, Several Openings
    Maxim Commercial Capital
    Looking for Chief Operating Officer
I just lost my job - now what?
    By Emily Fitzpatrick/RII
Finance and Leasing Industry Recruiters
  These companies have experience in the
    Finance and Leasing Industry
North Dakota Law Regulates
 "Alternative Financing"
as a "Loan"
    By Robert F. Gage, Hudson Cook LLP

News Briefs---
Unexpected restaurant chain hauls in $27.4 million
    per location in the US
Charging Electric Cars, a Bane of Their Owners,
    May Be Improving
Amazon’s return-to-office mandate sparks
    disability complaints
This A.I. Company Wants
    to Take Your Job
G.O.P. Senators Want Fewer Cuts to Food Aid,
    Teeing Up a Fight with the House
Veterans are divided over the Army’s big parade,
    being held on Trump’s birthday

You May Have Missed ---
The average used-car price hit $30,000
    Should you just buy new?

Sports Briefs
   California News
    "Gimme that Wine"
 This Day in History
  SuDoku
   Daily Puzzle
    GasBuddy
     Weather, USA or specific area
      Traffic Live----
       Wordle

######## 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.

[headlines]
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New Hires/Promotions in the Leasing Business
and Related Industries



Laura Ostgerling was hired as Vice President, Equipment Finance, First Specialty Finance, LLC, subsidiary of First Business Bank, New York, New York. She is located in Orange County, California. Previously, she was Senior Sales Manger, Tandem Finance (September, 2019 - November, 2023); Senior Business Development Manager, Neumann Finance Company (September, 2018 - September, 2019); Senior Business Development Manager, Marlin Business Services Corp. (March 2015 - September, 2018); Sales, Affinity One Financial (2007 - 2015). Full Bio:
https://www.linkedin.com/in/laura-osterling/details/experience/
https://www.linkedin.com/in/laura-osterling/


Carol Stewart was promoted to Managing Consultant Korn Ferry,  Dallas, Texas, where she is also located. She joined Korn Ferry December, 2024, Director of Business Development; Previously, she was Director of Client Service, Major Accounts, Interim Resources, Steven Douglas Interim Resources Division; Director of Client Services, RGP (October 2014 - May, 2017); President, EquiTech Capital (June, 2011 -September, 2014); Director of Business Development Miranda & Associates
(January, 2008 [ July, 2011).  Full Bio: https://www.linkedin.com/in/carol-stewart-2753a442/details/experience/
https://www.linkedin.com/in/carol-stewart-2753a442/


Amy Thompson was hired as Senior Operations Analyst, at International, Lisle, Illinois. She is located in the Greater Chicago Area. Previously at Mitsubishi HC Capital America, Inc., starting April, 2023, Program Analyst, promoted Senior Program Analyst, (June, 2024-Junw, 2025).  Prior, she was ant ENGS Commercial Finance Co., starting May, 2021, in Credit, promoted Program Analyst (January, 2022- April, 2023). 
Full Bio: https://www.linkedin.com/in/amy-thompson-96a60032/details/experience/
https://www.linkedin.com/in/amy-thompson-96a60032/

[headlines]
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Texas Supreme Court Clarifies Usury Law
By Ken Greene, Leasing News Legal Editor, Emeritus


Texas has been busy lately when it comes to loan regulation. A bill requiring disclosures for commercial sales-based financing (aka merchant cash advances), discussed in my last article, has passed the House and Senate and will become effective on September 1, 2025 unless vetoed by the governor on or before June 22.

Not to be outdone by the Legislature, the Texas Supreme Court has been active too. In a decision entitled American Pearl Group, LLC v National Payment Systems, LLC, the top state court justices imposed a lower maximum interest ceiling than previously allowed on commercial loans. The Court clarified that the Texas Finance Code no longer allows lenders to calculate interest by “spreading the interest over the term of the loan in equal parts”. Instead, interest calculations must be calculated based on the declining principal balance during each payment period. In plain language, this is what the formula will look like:

Interest for each period= (APR/payment per year) x outstanding principal balance at the start of the period

You don’t have to be an accounting genius to see how this will impact lenders’ bottom lines.
For you legal beagles out there, I found it interesting that the Texas Supreme Court looked to the venerable Black’s Law Dictionary definition of “actuarial method” for guidance. BLD is clearly considered an oldie but goodie!

This law is now in full force and impacts commercial loans in Texas effective immediately. Lenders may recall that the state has a usury cap of 18% per annum. There are significant potential damages for non-compliance with these usury laws, as newly interpreted by the Supreme Court, including forfeiture of the entire loan amount and treble damages. Lenders beware!


Ken Greene
Law Office of Kenneth Charles Greene
5743 Corsa Avenue, Suite 208
Westlake Village, California 91362
Tel: 818.575.9095
Fax: 805.435.7464
ken@kengreenelaw.com
www.kengreenelaw.com

[headlines]
--------------------------------------------------------------

Change is Here with New SBA 5010 8 Guidelines
By Bob Coleman, Founder, Editor Coleman Reports

Change is here. Starting June 1, the new SBA SOP 5010 8 guidelines will transform the business acquisition lending landscape. With billions in SBA loan funds tied to these transactions, lenders must be prepared to adapt, mitigate risks, and seize opportunities.

This Coleman webinar is your chance to stay ahead of the curve as we demystify the latest SBA rules and equip you with actionable insights to structure, underwrite, and approve business acquisition loans confidently.

Why It Matters

Baby Boomers own 40% of U.S. small businesses—and as they prepare to sell and retire, lenders are in a pivotal position. Business acquisition loans represent 24% of SBA loan dollars and 12% of total SBA loans, but they’re riddled with complex challenges and risks.

Recent developments, including the indictment of 14 individuals in a $25M SBA loan fraud scheme, further underscore the need for vigilance in your underwriting process. Sophisticated Fraud tactics, such as filing falsified tax returns for lender verification, creating dormant shell companies, parking fake equity injections for three months, and forged documents, pose serious threats to lenders. Understanding these scams can safeguard your portfolio.

Key Takeaways: Essential Updates in the New SOP 5010 8

  • Mandatory Equity Injection: Minimum 10% required for all business acquisitions.
  • Seller Financing Limits: Understand new restrictions and implications.
  • Ownership Changes: Simplified rules requiring stock purchases only.
  • Personal Guarantees: What stakeholders must provide under new guidelines.
  • Seller Rollover Equity: Discover why it’s no longer practical.
  • Citizenship and Ownership Changes: Rules for U.S. nationals, citizens, and lawful permanent residents.
  • Collateral Requirements: Enhanced requirement for loans over $50,000.
  • Franchise Deal Approvals: Dive into the reinstated SBA Franchise Directory.
  • Enhanced Insurance Requirements: Hazard insurance for loans above $50,000; life insurance for sole-owner businesses.

Webinar Available  June 18 @2pm ET 
Are You Maximizing Lending in this Profitable Niche?
A 75- Navigate the New SBA Business Acquisition Rules with Confidence — 6/18

colemanreport.com/navigate-the-new-sba-business-acquisition-rules-with-confidence-6-18/


[headlines]
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Leasing and Finance  Help Wanted
Balboa Capital
We Are Growing Our Senior Sales Team Now
Maxim Commercial Capital, LLC
Looking for Chief Operating Officer

[headlines]
--------------------------------------------------------------

I just lost my job - now what?
By Emily Fitzpatrick/RII


Question: I have just lost my job! What are a few things I should do right away?

Answer: I am sorry to hear of your job loss, it is not an easy transition but try to see the “silver lining” and remain positive. Do not treat the next few weeks as time for a short vacation or to take time off to “think.”

THE VERY NEXT Business Day, accomplish at least two job-hunting tasks. Doing this will put you in the driver’s seat and you will feel a sense of control:

  • Contact previous colleagues and/or clients informing them that you are in the job market
  • Schedule a network meeting with ex-colleagues and/or friends; this can be accomplished over lunch or via teleconference
  • Reach out to Recruiters in your Industry – your next job probably won’t come from one that is being advertised
  • Update your resume and make it marketable
  • Gather recommendations and letters of reference from ex-colleagues, previous bosses and clients

Build on this momentum and complete at least one of the above tasks EVERY day

In addition:

  • Spend time with a mentor
  • Attend job fairs to gather information regarding hiring trends

Do not forget, when discussing your situation to remain positive – no one wants to hear a Debbie Downer.

There is an exception: when speaking to your Recruiter, they need to know all aspects (positive and negative) of your situation in order to find a good long-term fit for your next career move.
If you cannot find a recruiter or you are getting frustrated, then instead of sitting around, see what is available; talk to colleagues,  friends, relatives, your banker, accountant, other professional people.
While not in your profession, they may know about other job opportunities or expansions of companies with new fundings.

If you find something of interest, contact your recruiter who may be able to learn more as well as open a door for an interview.

Emily Fitzpatrick
Sr. Recruiter
Recruiters International, Inc.
Phone:  954-885-9241
Cell:  954-612-0567
emily@riirecruit.com
Invite me to connect on LinkedIn
www.linkedin.com/pub/emily-fitzpatrick/4/671/76
Also follow us on Twitter #RIIINFO


[headlines]
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Finance and Leasing Industry Recruiters

These companies have experience in the finance and leasing industry

Second Column: YCS - Year Company Started YELB - Years in equipment Leasing Business

Name
City, State
Contact
Website
Leasing Association
YCS
YELB
(see above for meaning)
Geographic Area
Specialty

Executive Solutions for Leasing & Finance, Inc.
Atlanta GA 30308
Jon Gerson, President
jongerson@exsolutions.com
678.528.8996
LinkedIn
www.exsolutions.com

1990
(1990)

Nationwide

Search firm specializing in leasing industry. Services include retained and contingent search, strategic consultation, compensation analysis, sales & management training, & customizable consulting products.

Recruiters
International, Inc.
(RII)

Pembroke Pines, FL 33025
Emily Fitzpatrick
Sr. Recruiter
info@rirecruit.com
Phone: 954-885-9241
www.riicareer.com
LinkedIn
Also follow us on Twitter @RIIINFO

2000

North America

Explanation:  Boutique Executive Search Firm Specializing in the Finance & Equipment Leasing Industries.

Our goal is to build long term relationships with our Clients & Candidates, keeping both sides abreast of current and future changes that effect supply & demand of Top Talent.  Excellent References & Testimonials

ZRG Partners
69 Milk St Third Floor
Westborough, MA 01581
Contact: Ken Lubin,  klubin@zrgpartners.com
Gerry Ricco, gricco@zrgpartners.com
www.zrgpartners.com

1999
(32)

Global
(Completed search in 33 countries
in leasing and lending)

Senior Level retained Search firm doing C-Suite searches, board searches and VP level positions, We work on a client focused, project basis


[headlines]
--------------------------------------------------------------

North Dakota Law Regulates
"Alternative Financing" as a "Loan"
By Robert F. Gage, Hudson Cook LLP

The state legislature in North Dakota recently passed House Bill 1127. This bill made a simple amendment to a 1970s-era law called the Money Brokers Act (“MBA”).

Despite its name, the MBA is not limited to brokers. It is the primary law regulating consumer and commercial lending in North Dakota. It applies to any person engaged in the act of arranging or providing loans. Such persons are called “money brokers” in the MBA.

This amendment adds a two-sentence definition of the word “loan”. When this amendment takes effect, the MBA will define “loan” as follows:
“Loan” means a contract by which one delivers a sum of money to another and the latter agrees to return at a future time a sum equivalent to that which the person borrowed. This includes alternative financing products as identified by the commissioner through the issuance of an order.

Is this is a big deal? Yes. Here’s why.
Until now, the MBA has always defined the term “money brokering” to include the act of providing “loans” but has never defined the term “loan”. As a result, forms of business financing that are not typically considered loans – such as factoring or revenue-based financing (also sometimes called “merchant cash advance”) would not be subject to the MBA. Adding this new definition of “loan” to the MBA creates significant risk that alternative forms of business financing will become subject to the regulatory burdens impose by MBA.

Those burdens are significant. The MBA requires money brokers to obtain a license from the North Dakota Department of Financial Institutions (“DFI”). The MBA also caps the maximum amount of fees and charges that can be impose by a money broker at a rate of 36% per year.

With this new definition, the North Dakota Department of Financial Institutions (“DFI”) can now issue an order designating any financing product as a loan subject to the MBA. Does the DFI intend to regulate revenue-based financing? That’s unknown at this time. The Commissioner of Financial Institutions provided a memorandum to the legislature stating that the new definition would allow DFI to ensure that North Dakota’s citizens “will have access to new lending products, without sacrificing safeguards”. It is possible that the Commissioner is intending to focus on consumer financing products and not commercial financing. Even if that’s the case, that’s small comfort.
There is still a problem with this law because the first sentence of the definition is simply too broad. It states that a “loan” includes a transaction with the following two features:

  1. There is a contract by which a sum of money is delivered to another.

  • A typical revenue-based financing is structured as a purchase of a merchant’s future revenue at a discounted purchase price. The purchase price is a sum of money delivered to the merchant.
  • Invoice factoring transactions also involve a delivery of funds in the amount of the face value of the invoice minus a discount and/or a reserve.

  2. At a future time, the person receiving that money agrees to return an “equivalent” sum.

  • In revenue-based financing, the merchant agrees to deliver the purchased amount based on an agreed-upon percentage of the merchant’s revenue stream. Arguably this is a “sum of money” equivalent to the purchase price advanced to the merchant.
  • Factoring is a bit more complicated. In recourse factoring, a factoring client sometimes is required to repurchase an invoice from the factor if the invoice is not paid on time. The repurchase price is based on the face value of the invoice. Arguably this is a “sum of money” equivalent to the face value of the invoice minus a discount and/or a reserve. 

Even if the DFI does not order that revenue-based financing or factoring are loans, a North Dakota court could take the position that the definition of “loan” is now so broad that these products are already loans under the revised MBA. No DFI order is needed.

If a North Dakota court concludes these products are now subject to regulation under the MBA, including its 36% rate cap, then this opens the door for North Dakota businesses that obtain financing to sue any provider that imposes charges that effectively exceed that rate cap.

It’s not clear whether the North Dakota legislature understands what it just did. This amendment was part of a legislative package that was primarily focused on data security. The addition of the “loan” definition would be difficult to find if you weren’t looking for it. House Bill 1127 passed with almost unanimous support. Did all those legislators understand that this law could drive away products that offer working capital to businesses that badly need liquidity and don’t have access to a bank line of credit? I doubt it.

Does this mean that providers of alternative financing should stop funding in North Dakota? That’s a business decision. We’ll certainly be watching to see if the DFI provides any guidance on any kind of “alternative financing” product it considers to be a loan. But providers of revenue-based financing and factoring should start thinking about whether they might need an MBA license North Dakota and whether they can live with the MBA’s 36% rate cap.

According to the North Dakota legislature’s website, this change in the MBA is likely to take effect on August 1, 2025. That gives you some time to think about whether North Dakota is still a viable market for your financial products.

Robert F. Gage is a Partner at Hudson Cook LLP. You can email him at (rgage@hudco.com)


[headlines]
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News Briefs

Unexpected restaurant chain hauls in $27.4 million
    per location in the US
https://www.sfgate.com/la/article/top-grossing-restaurant-chain-per-location-20368614.php

Charging Electric Cars, a Bane of Their Owners,
May Be Improving
https://www.nytimes.com/2025/06/12/business/electric-vehicle-charging-tesla.html

Amazon’s return-to-office mandate sparks
disability complaints
https://www.bostonglobe.com/2025/06/12/business/amazon-return-to-office-disability-complaints-talking-points/

This A.I. Company Wants to Take Your Job
https://www.nytimes.com/2025/06/11/technology/ai-mechanize-jobs.html

G.O.P. Senators Want Fewer Cuts to Food Aid,
Teeing Up a Fight with the House
https://www.nytimes.com/2025/06/12/us/politics/republican-senators-food-aid.html

Veterans are divided over the Army’s big parade,
being held on Trump’s birthday
https://apnews.com/article/military-parade-army-trump-birthday-veterans-0912f4009b4d9fc157b35bb9edf9375a

[headlines]
--------------------------------------------------------------


The average used-car price hit $30,000.
     Should you just buy new?
https://www.washingtonpost.com/business/2025/06/11/30000-used-car-price-value/

[headlines]
--------------------------------------------------------------


Sports Briefs---

It's torture all over again for
   Buster Posey's SF Giants
https://www.sfgate.com/giants/article/torture-is-back-buster-posey-sf-giants-20373333.php

[headlines]
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California News Briefs---

A Las Vegas Sphere-style entertainment complex
    is coming to San Francisco
https://www.sfgate.com/sf-culture/article/san-francisco-burning-man-dome-park-20374351.php

World's largest almond company to close historic
     53-acre Northern Calif. plant
https://www.sfgate.com/food/article/world-largest-almond-company-closing-norcal-plant-20372911.php

A major wine company is exiting California.
    Here’s what it means
https://www.sfchronicle.com/food/wine/article/republic-national-distributing-california-20370277.php

[headlines]
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Gimme that Wine

 

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

Local winemaker John Buechsenstein to receive
    Rhone Rangers 2025 Lifetime Achievement
https://www.pressdemocrat.com/article/lifestyle/rhone-rangers-2025-award/

An ancient Greek grape holds promise for California   
     winegrowers as climate pressures mount
https://www.pressdemocrat.com/article/lifestyle/california-greek-wine-assyrtiko/

Tariff Threats Trouble Italian Producers
https://www.wine-searcher.com/m/2025/06/tariff-threats-trouble-italian-producers

[headlines]
----------------------------------------------------------------

This Day in History

https://leasingnews.org/archives/May2023/05_10.htm#history

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SuDoku

The object is to insert the numbers in the boxes to satisfy only one condition: each row, column and 3x3 box must contain the digits 1 through 9 exactly once. What could be simpler?

https://sudoku.com/

[headlines]

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Daily Puzzle

How to play:
http://www.setgame.com/set/puzzle_frame.htm

Refresh for current date:
http://www.setgame.com/set/puzzle_frame.htm

[headlines]

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http://www.gasbuddy.com/
http://www.gasbuddy.com/GB_Map_Gas_Prices.aspx
http://www.gasbuddy.com/GB_Mobile_Instructions.aspx

[headlines]

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Weather

See USA map, click to specific area, no commercials

http://www.weather.gov/

[headlines]

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Traffic Live---

Real Time Traffic Information

You can save up to 20 different routes and check them out with one click,
or type in a new route to learn the traffic live

--------------------------------

Wordle

https://www.powerlanguage.co.uk/wordle/

How to Play
https://www.today.com/popculture/popculture/wordle-know-popular-online-word-game-rcna11056

[headlines]

Features

Alerts and Flags
Bank Beat
Brian Link Observations
Career Crossroads-Emily Fitzpatrick/RII
Cartoons
Charlie Chan sayings
Computer Tips and Social Media
Credits and Collections 102
Customer Relation Management Keeps Score
Dan Harkey Observations
Employment Web Sites
Equipment Leasing Haiku by Paul Bent
Fernando's Review
Financial Technology 102
From the Desk of Michael Witt, Esq.
Leasing 102
Leasing Cases by Tom McCurnin
Observations from the Front Porch by Jim Acee
Online Newspapers
Placards
Recruiter Hal T. Horwitz Speaks Out
Sales Make it Happen
San Francisco Valley Leasing
The Secret of Our Success
The Top Performer’s Corner
To Tell the Truth
Ultimare Hire by Ken Lubin, ZRG Partners
View from the Top
Why I Became a CLP
Wine Reviews by Kevan Wilkinson


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