Louisiana Introduces Commercial
Financing Disclosure Bill
By Ken Greene, Leasing News Emeritus

Known for its gumbo, jambalaya, and the famous New Orleans Jazz Festival, Louisiana may add a new commercial financing disclosure law to that list. Senate Bill 335 was introduced on March 1, 2024. Here is a summary of its major components if it is passed as written:

Applies to:

• Transactions consummated after January 1, 2025
• Providers who consummate more than five commercial financing transactions in Louisiana in any calendar year (or in any twelve-month period, as the bill has both provisions and needs to be corrected)
• Transactions under $500,000

Exemptions:

• Federally insured depository institutions or holding companies of such institutions (generally, banks);
• Subsidiaries of federally insured depository institutions;
• Real property secured transactions;
• Leases (not defined);
• Purchase money obligations;
• Licensed vehicle dealers, lessors, and rental companies for transactions over $50,000.

Disclosures:

• Must be provided at or before the consummation of a
  transaction;
• Only one disclosure is required, even if there is a modification or forbearance of the transaction;
  
• Disclosures must include:
  - Total funds provided to the business;
  - Total funds disbursed if less than (a);
  - Total amount to be paid to the provider;
  - Total cost to recipient:  (c) minus (a);
  - Manner, frequency, and amount of payments;                
  - Prepayment costs or discount, if any.

Broker Prohibitions:

• Advance fees (except for hard costs);
• Make false or misleading statements;
• Failure to disclose actual address and phone number.

Miscellany:

• The attorney general has exclusive authority to enforce;
  
• Fines range from $500 to $20,000 or, after notice from the attorney general, from $1000 to $50,000;
  
• No private right of action;
  
• Violations do not affect the enforceability of the underlying transaction.

It is clear that this bill needs work and will have to be revised before it becomes law.

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

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GreatAmerica Financial Services  Appoints
Well-Known Financial Veterans as Group Presidents

GreatAmerica Financial Services announces two major positions to lead the 750+ team into the future.

Jennie Fisher, MBA, of Cedar Rapids, IA elevates her previous position of Senior Vice President and General Manager, Office Equipment Group to Group President, Office Equipment. A veteran of the Office Equipment industry, Fisher won the most recent Best Female Executive from The Cannata Report and has led the division for 16 years, growing the business unit to $2 billion in earning assets.

“Jennie was employee number 3 at GreatAmerica, joining when we started in 1992. She is a trusted, respected and pivotal member of the Office Equipment community. We’re excited to offer her this new role and are certain our customers will only benefit from her expertise,” states Martin Golobic, CEO.

Brian Bjella, of Marshall, MN now serves as Group President, Specialty Markets. Bjella and his company, Grandview Financial, was acquired by GreatAmerica in 2010.  Since then, Bjella has helped build the business unit from the ground up, into five divisions today: Automotive, Construction & Industrial, Healthcare, Franchise, and Direct Programs Financing.  Bjella was previously the Senior

Martin Golobic, Chief Executive Officer, said, “We’re so excited to have Brian take on this new position as we see Specialty Markets Group growing. He’s a talented leader with a keen eye for developing talent and relationships within the various industries we now serve.

"Jennie and Brian will join the GreatAmerica senior leadership team to help shape the company’s strategic direction with a focus on the continued success of our customers and employees.”

About GreatAmerica Financial Services®
GreatAmerica is the largest, family-owned national commercial equipment finance company in the United States. A $3+ billion company with life-to-date finance originations of $16.1 billion, GreatAmerica was established in Cedar Rapids, Iowa in 1992. Dedicated to helping manufacturers, distributors, resellers, and franchisees be more successful and keep their customers for a lifetime, GreatAmerica offers innovative, complementary services in addition to financing. GreatAmerica is committed to the communities it serves and donates more than $1.1 million annually through a GreatAmerica Donor Advised Fund and an Employee Advised Fund, giving team members a say in where funds are allocated.  www.greatamerica.com

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Leasing and Finance Industry Help Wanted

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The Art of Follow-Up: Transforming Leads into Opportunities
By Financial Technology Expert Alex Vasilakos

Building relationships with potential customers is an essential part of any successful business strategy. In this edition of our newsletter, we're unpacking the concept of lead follow-up and sharing actionable strategies for turning interested prospects into engaged buyers.

What Is Lead Follow-Up?
Lead follow-up refers to the process of engaging with potential customers who have shown an interest in your product or service. It's the crucial bridge between an initial inquiry and a final sale. The main goal is to nurture the leads through tailored communication and turn them from cold prospects into warm leads -- and ultimately, loyal customers.

How To Follow Up on a Lead

Understand the Timing

Timing is everything  when it comes to following up with a lead. Respond too quickly and you may come across as pushy; wait too long and the lead may go cold. Finding the sweet spot often depends on your industry standard and your customer’s expectations.

Personalize Your Approach

Personalization can drastically improve the efficacy of your follow-up. Address the prospect by name, recap your last conversation, and tailor your message to their specific interests and pain points.

Provide Value

Each follow-up should offer added value. This could be new product information, a special offer, or informative content related to their needs. This approach helps cement the relationship and positions your brand as a helpful resource.

Utilize Multiple Channels

Don’t rely on just email or phone calls. Utilizing a multi-channel approach, including social media and messaging platforms, can enhance your visibility and increase the chances of your follow-up being noticed.

Be Persistent but Respectful

Persistence is key but it’s important to be respectful of the lead’s time and interest level. Knowing when to pause or stop communication is as important as knowing when to initiate it.

In Conclusion...
Mastering lead follow-up can translate into increased sales, larger client bases, and greater brand loyalty. Keep these tips in mind, and remember that successful follow-up starts with genuine interest in—and commitment to—solving your customers' problems.
Happy Selling!

Alex Vasilakos
Digital Marketing Consultant.
Vasilakos Design: Use the Power of Imagination
o: 518-727-7921 |  m: 518-727-7921  
|  t: @avasilakos |
web: www.vasilakosdesign.com

Financial Technology Collection
https://leasingnews.org/Conscious-Top%20Stories/fintech.html

Banclease Acceptance announces
Murray D. Schwartz as New President

Murray D. Schwartz has been promoted to President of Community Partners, Inc, DBA Banclease Acceptance Corporation.  He has been with Banclease Acceptance Corporation (BAC) for over ten years serving as the EVP for the transportation division.  During these ten years, he established BAC’s presence in leasing new and used vehicles to commercial fleets as well as consumers.

Prior to joining BAC, Murray worked for AutoNation as a General Manager, General Sales Manager, and Finance Director over the course of nine years at four of their locations in North Texas and Amarillo.  He spent over three years consulting with dealers nationwide on sales and service issues as well as designing business plans for dealers buying other dealerships requiring Ford’s approval process of a sale. 

Murray also spent nine years with Ford Parts & Service Division in many positions working with Ford dealers to improve service satisfaction, customer experiences, and overall profitability of those dealerships.

Bruce Orr will remain with Community Partners Funding as CEO, and Ron Mitchell as EVP Equipment Leasing.

 

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Ares Management Launches Ansley Park Capital

Ares Capital Corporation Management and Seasoned Industry Executives Form New Company to Deliver Customized Financing and Capital Solutions for Large-Ticket Equipment and the equipment finance business of regional bank, City National Bank of Florida. The company is located in White Plains, New York. Ansley Park’s management team and integrated operating platform were acquired from BciCapital, Inc. (“BciCapital”)

The team consist of:

Eric Miller, President & Chief Executive Officer. HW is located in New York, New York. Previously, he was Chief Executive Officer, BCi Capital Corp. (June, 2021  - January, 2024).   He joined CIT Bank March, 2014 as Managing Director and Group Head, Capital Equipment Finance, promoted February, 2099, Managing Director and Group Head, Capital Equipment Finance, Logistics Finance and Franchise Finance, President , Ase Finance (July, 2019  -Mary, 2021); AVP, Account Executive, Wells Fargo (January, 2002 – February, 2003).

Justin Clark, Managing Director, Capital Markets.
https://www.linkedin.com/in/justin-clark-7a430959/

Randy House, Managing Director
https://www.linkedin.com/in/randy-house-35404614/

David Rooney, Managing Director
https://www.linkedin.com/in/drooney72/

Robert Seltzer, Executive Vice President, Originations
https://www.linkedin.com/in/robertseltzer1/

Michael Tornichia Managing Director
https://www.linkedin.com/in/michael-tornichia-8770ab6/

Mark Trollinger, Executive Vice President, Originations
https://www.linkedin.com/in/mark-trollinger-b129909/

Mike Verploegh Jr., Managing Director.

The Ares Alternative Credit strategy is one of the largest investors in asset based credit, managing approximately $33.9 billion in assets as under management as of December 31, 2023. The team invests across the capital structure and seeks opportunities in specialty finance, lender finance, loan portfolios, equipment leasing, structured products, net lease, cash flow streams (royalties, licensing, management fees) and other asset-focused investments. Aligning Ares' investment activities with its societal impact, Ares and Ares Alternative Credit portfolio managers have committed to donate a portion of the performance fees from Ares Alternative Credit flagship funds to support global health and education charities.

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A New Microchip Construction Boom:
Semiconductor Manufacturing

A look at the map of major semiconductor manufacturing projects in the U.S. as of early 2024 shows that other than Intel's twin locations near Phoenix, Samsung is scheduled to open a facility on the outskirts of Austin, Texas, this year.. The projects are expected to cost between $17.3 billion and $20 billion and were started in 2021 and early 2022, respectively. The first TSMC factory as well as a facility in Boise, Idaho, by U.S. chipmaker Micron, are scheduled to be finished next year.

This also applies to four new fabs - wafer fabrication plants - in North Texas by legacy producer Texas Instruments. The company that is also expected to open another location in Utah in two years' time will be producing analog and embedded 300-mm semiconductors at both locations that are used for personal computer and other memory applications.

While the CHIPS Act is not limited to the most advanced types of microchips, cutting-edge logic chips of 5 nm and 3 nm process nodes have been receiving the most press coverage due to their use in new smartphones, laptops and self-driving cars as well as their implications for the technological independence the U.S. is seeking for its future. According to Z2, TSMC and Samsung will be producing chips of this caliber in the United States.

By Katharina Buchholz, Statista

Pomeranian
Des Moines, Iowa  Adopt-a-Dog

Egg

ID 24o549
Male
19.8 lbs.
2 Years Old
Blonde
Neuteredd
Adoption Fee: $200
Site: ARL Main

Great dog with tons of potential who is looking for a special family who will continue working with him to help him gain confidence and learn that life is full of great things. If you're up to the challenge, read on!

Came from an environment where he did not get the normal socialization that most puppies get, so the world is still a very scary place for him

Has come a long way in the weeks we have been working with him

Has worked with our behavior team on being OK with being touched, and will occasionally solicit attention from people he knows, and has shown some leash walking ability, but will need more work conditioning him to those things in the home

able home with very patient people who understand that it will take him not days but months to become completely comfortable. If you're willing to give him that time, you'll see, just as we have, that he is worth the wait! It will be incredibly rewarding to watch him become more trusting every day!

Adoption Process
(includes other information)
https://www.arl-iowa.org/adopt/adoption-process/

ARL Main
5452 NE 22nd St.
Des Moines, IA 50313
Phone: (515) 262-9503
Fax: (515) 262-26

News Briefs

Brean Capital Hosts Specialty Finance
    Investor Roundtable
https://newsroom.breancapital.com/brean-capital-hosts-specialty-finance-investor-roundtable/

New federal rule caps most credit card
    late fees at $8
https://www.bostonglobe.com/2024/03/05/business/new-federal-rule-caps-most-credit-card-late-fees-8/

Damage to Cables Under Red Sea Highlights
    Mideast Conflict’s Broader Threat
https://www.nytimes.com/2024/03/05/business/red-sea-middle-east-conflict.html

American Airlines orders 85 Boeing 737 MAX jets,
    expands fleet with 737-10 model
https://www.prnewswire.com/news-releases/american-airlines-orders-85-boeing-737-max-jets-expands-fleet-with-737-10-model-302078687.html

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Bank Runs Spooked Regulators.
Now a Clampdown Is Coming.
https://www.nytimes.com/2024/03/05/business/economy/silicon-valley-bank-federal-reserve.html

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Sports Briefs---

Oakland A’s release renderings for Las Vegas
   ballpark shaped like a ‘spherical armadillo’
https://www.eastbaytimes.com/2024/03/05/oakland-as-release-renderings-for-las-vegas-ballpark-shaped-like-a-spherical-armadillo/

Bob Melvin creates new policy requiring SF Giants
players to stand during national anthem
https://www.pressdemocrat.com/article/sports/bob-melvin-creates-new-policy-requiring-sf-giants-players-to-stand-during-n/

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California News Briefs---

Doom loop: Iconic clothing company
   -plus San Francisco Bay Area jobs
https://www.mercurynews.com/2024/03/05/economy-job-layoff-levi-strauss-employ-doom-loop-history-store-clothes/

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Gimme that Wine

 

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

Smith-Madrone Riesling Sells for $225,000
   Houston International Wine Competition
https://www.winebusiness.com/news/article/284187

Arizona wines beat international competitors
in blind taste test
https://www.axios.com/local/phoenix/2024/03/04/arizona-wines-contest-dos-cabezas

Brad Pitt’s Champagne to be
at the Oscars
https://www.decanter.com/wine-news/brad-pitts-champagne-to-be-poured-at-the-oscars-523964/

New Zealand's Most Wanted Wines
Sauvignon Blanc is so important
https://www.wine-searcher.com/m/2024/03/new-zealands-most-wanted-wines

In 2023, there were 11,620 wineries in the
United  States, just 1% less than in 2022
While the wine industry in the United States has been battered by a global pandemic, destructive wildfires and the ever-changing tastes of consumers, the number of wineries still operating remains close to a high point set in 2022. In 2023, there were 11,620 wineries in the United States, just 1% less than in 2022. While the total number of wineries declined slightly, many states did see modest to strong winery growth, reflecting the dynamic nature of the U.S. wine industry. For a complete rundown on winery growth in the U.S. and Canada, check out this article from the February issue of WineBusiness Monthly.