North Mill Equipment Finance to Acquire Pawnee & Tandem
according to recent court filings

David C. Lee, Chairman and CEO of NMEF told Leasing News, "I can't speak on the record until we close which per the filing is March 31."

Court approval in Canada is expected on March 7, 2025, while the U.S. court hearing is scheduled for later in March. The deal is anticipated to close by April 18, 2025.

As reported by Leasing News Wednesday North Mill Equipment Finance among the bidders those involved in assets from the Chesswood Group bankruptcies in Canada and the United States

The bankruptcy report from FTI and the public record had the status of sale of assets of the Chesswood Group.

Several readers asked for more information. One stated, “It appears North Mill Equipment Finance is set to acquire Pawnee Leasing Corporation and its affiliated company, Tandem Finance, in a court-supervised transaction, positioning itself for expansion in the U.S. equipment financing sector. The deal, part of Chesswood Group’s ongoing restructuring, awaits approval from Canadian and U.S. courts.”

Monitor Daily reported on the potential sale
https://www.monitordaily.com/news-posts/north-mill-equipment-finance-poised-to-acquire-pawnee-vendor-in-court-supervised-transaction/

Wednesday's Leasing News in "You May Have Missed" 
Chesswood Group
Motion Record of the Monitor (Approval and Reverse Vesting Order and Stay Extension Order)
202  pages
http://cfcanada.fticonsulting.com/chesswood/docs/Motion%20Record%20-%20Monitor%20-%20FTI%20Consulting%20Canada%20Inc.%20-%2028-FEB-2025.pdf

Chesswood Group Limited - Motion Materials
-FTI Consulting
http://cfcanada.fticonsulting.com/chesswood/motions.htm

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New Hires/Promotions in the Leasing Business
and Related Industries

Katie Bates was promoted to Strategic Partnership Coordinator at Alliance Funding Group.  She is located in Portsmouth, New Hampshire. She joined Alliance November, 2019, as Credit Analyst. Previously, she was Funding Manager, CIT, Portsmouth, New Hampshire (September, 2017 - November, 2019)

Claire McNamara was promoted to Vice President of Underwriting, Mountain Ridge Capital, Dallas-Fort Worth Metroplex. She is located in Dallas, Texas. She joined Mountain Ridge September, 2022 as Associate of Portfolio & Underwriting, promoted Assistant Vice President (January, 2024 - March, 2025). Previously, she was at Crestmark, a division of Meta Bank, starting June, 2020, Junior Field Examiner, promoted Staff Field Examiner June, 2021, promoted Senior Field Examiner (June, 2022 - September, 2022).
https//www.linkedin.com/in/claireamcnamara/

Phil Mirisola announced he was now Director, BD & Strategic Partnerships, New York, New York. He previously was hired March, 2023 as Business Development Lead. Previously, he was at  Blue Line, starting January, 2019, Account Executive, promoted January, 2020, Manager, Business Development & Partnerships, promoted Senior Manager, Business Development & Partnership (January, 2022 - March, 2023).
https://www.linkedin.com/in/philipmirisola/

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New Story Credit Financing Different Approach
Business Loans, SBA Loans, Working Capital
Footnotes First

To qualify for this list, the company may be a funder, who  also is a supper broker, sending deals who have reached a point to go elsewhere, or does equipment they don't do, such as spray booths, steel fences, or agriculture piping or cannabis equipment.

First, the footnotes they provided which reveal their position in the funder only list:

(P) Financial Pacific Leasing supports a nationwide network of Brokers and Lessors. We specialize in "B" and "C" credits for established companies as well as companies under two years in business. Broker Qualify - Please Call or see "Prospective Broker" section on website

(S) We at Summit Leasing consider ourselves to be primarily "B" credit lenders, working almost exclusively through brokers. Broker Qualify - Contact us

(W) Forum Financial Services, Inc., prefer venture capital backed start-ups and middle market to large corporate turnaround companies including companies in bankruptcy and post bankruptcy. Our absolute minimum sales for an established business with financial problems are $10.0 million. (this does not include venture capital backed start-ups). Broker Qualify - Please visit our website at www.forumleasing.com or call 972-690-9444 ext. 225

(Y) Gonor Funding specializes in hard to fund leases with D credit. Collateral based with good rates and commission program. Broker Qualify - Please Call

(Z) TEAM Funding Solutions is a C-credit funder that provides a unique alternative to credit scoring. We fund new business start-ups and older businesses with weaker credits when we roll up our sleeves to understand “their story.” Equipment leases are approved and funded based on common sense, the Lessee’s ability to pay and the Broker’s input.

(CC) Provides financing, leasing, and lending services to businesses and municipalities with “A” through “D” credit profiles throughout the United States, Canada, Mexico, and South America.  Since inception, FMEF has provided nearly $1 billion in financing to over ten thousand customers. Also seeks third party originations.

Financing programs, leases, and loans for equipment costing from $10,000 to $10,000,000+.  “Application only” programs (No financials or tax returns required) for equipment up to $350,000 and we generally make a credit decision on these transactions within 24 hours. www.netlease.com

(DD) Maxim Commercial Credit provides creative and flexible asset-based financing for today's challenging credit market.

(EE) BSB Leasing, Inc. is a direct funding source. In addition we offer an experienced Syndication Desk that can place transactions that fall outside of credit, equipment, geographic or dollar amount appetite.

(FF) NFS Leasing is a Technology Leasing Specialist which provides funding for B, C, and D and story credits. We make our own credit decisions, service the full lifecycle of transactions on our own balance sheet. We are fast, flexible, and easy to work with. IT & Computer Equipment, Medical, Scientific Equipment, & Office Equipment. We service Canada and the UK as well.

(GG) Bankers Capital will do ANY Type of equipment, in ANY industry (including cannabis), in ANY state. Our specialty is applicants new in business and/or with challenged credit. We require a full financial package on every applicant. Bankers Capital structures “story” or C&D credits with additional collateral which might include mortgages on residential or commercial real estate, additional equipment, assignment of marketable securities or life insurance policies with cash surrender value, security deposits, or vendor agreements Bankers Capital looks for a way to approve the request instead of looking for a way to decline it.

Quality
Quality funds titled and non-titled commercial equipment for A- to C+ customer profiles.  *Our sales team has over 100 years of combined experience in leasing and finance.  Some sales reps have long-standing vendor relationships, but we do not pursue vendor relationships that come to us from brokers."

Balboa Capital Corp. Bankers Capital Black Rock Capital Investment, LLC BSB Leasing, Inc Calfund, LLC Dakota Financial

Financial Pacific Leasing Forum Financial Services, Inc. Gonor Funding Maxim Commercial Capital, LLC

North Mill Equipment Finance P&L Capital Corporation Quality Leasing Co. Inc. SLIM Capital, LLC TEAM Funding Solutions

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Changed Direction Again: FinCEN Not Issuing Fines or Penalties
in Connection with Beneficial Ownership Information Reporting Deadlines

• Key takeaway #1
  The U.S. Department of the Treasury (Treasury) announced on March 2, 2025, that it will not pursue any enforcement against “U.S. citizens” or domestic reporting companies for violations of the current Beneficial Ownership Reporting Rule (BOI Rule) or any future rule.

• Key takeaway #2
  Treasury stated that it intends to issue a proposed rulemaking that will narrow the scope of the BOI Rule to “foreign reporting companies” only and set new reporting deadlines.

• Key takeaway #3
  Per Treasury, if the forthcoming proposed rule were to take effect, U.S. citizens and “domestic reporting companies” would not be required to submit BOI reports.

Basically the U.S. Treasury Department announced that although the beneficial ownership information (BOI) reporting requirements are still in effect, it will not enforce any penalties or fines against companies that fail to file.

Please see below for the complete U.S. Treasury Department announcement: WASHINGTON-- FinCEN announced that it will not issue any fines or penalties or take any other enforcement actions against any companies based on any failure to file or update beneficial ownership information (BOI) reports pursuant to the Corporate Transparency Act by the current deadlines. No fines or penalties will be issued, and no enforcement actions will be taken, until a forthcoming interim final rule becomes effective and the new relevant due dates in the interim final rule have passed. This announcement continues Treasury's commitment to reducing regulatory burden on businesses, as well as prioritizing under the Corporate Transparency Act reporting of BOI for those entities that pose the most significant law enforcement and national security risks.

No later than March 21, 2025, FinCEN intends to issue an interim final rule that extends BOI reporting deadlines, recognizing the need to provide new guidance and clarity as quickly as possible, while ensuring that BOI that is highly useful to important national security, intelligence, and law enforcement activities is reported.

FinCEN also intends to solicit public comment on potential revisions to existing BOI reporting requirements. FinCEN will consider those comments as part of a notice of proposed rulemaking anticipated to be issued later this year to minimize burden on small businesses while ensuring that BOI is highly useful to important national security, intelligence, and law enforcement activities, as well to determine what, if any, modifications to the deadlines referenced here should be considered

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Balboa Capital Available Position
Program Manager II- Equipment Broker Sales

Internal Collaboration
By Scott Wheeler, CLFP

The single greatest frustration that originators possess comes from their lack of understanding of credit decisions. Perhaps it is time to make a lunch reservation with your favorite credit professional. The facts are:

• Strong credit professionals do not like to decline transactions any more than you want to hear about a declination. Good credit people attempt to create approvals while protecting the long-term sustainability of a portfolio's performance over the next three to seven years.

• Credit professionals rarely get credit for the transactions they approve but they are often reprimanded for transactions that eventually go south.

• Strong credit professionals are highly valuable assets for any commercial equipment finance and leasing operation. They protect the sales team from making costly mistakes; because ultimately an originator and a sales team are judged by the performance of the assets they generate.

• Strong originators work closely with their credit departments and support the decisions that their credit departments make. Success is possible because of credit and sales collaboration.

Below are a few suggested questions for your lunch date:

• In today's environment, what attributes are you looking for in a perfect transaction? Do you have any suggestions as to how I can solicit more transactions that have these attributes or questions that I should be asking to prequalify prospects with these attributes?

• How can we work as a team to be more efficient and to spend our time on transactions that will be approved and funded? What do I need to do or know that will help you and the credit department the most?

• What concerns do you have with our current portfolio? How can I help mitigate these concerns? How can we work as a team to preserve the future performance of our portfolio?

It should be noted that I was a credit professional before I was an originator. I attributed my sales success to my foundational understanding of the credit process. As an originator, I always considered credit professionals as my most valuable team members. I rarely questioned a declination but was always curious about the attributes required for a strong, quick approval. Top originators focus on seeking out transactions that can be won, approved, and funded.

Scott A. Wheeler, CLFP
Wheeler Business Consulting
1314 Marquis Ct.
Fallston, Maryland 21047
Phone: 410 877 0428
Fax: 410 877 8161

Email: scott@wheelerbusinessconsulting.com
Web: www.wheelerbusinessconsulting.com
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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Over 250 Industry Professionals Attend
Sudhir Amembal's Accounting for Leases Webinar

Over 250 equipment finance professionals attended Sudhir Amembal's webinar entitled "Accounting for Leases: A Customer Perspective" held on March 4. The 30-minute free webinar was attended and represented by all segments of the industry -- banks, captives, independents and service providers.  The webinar is an extract from Amembal's flagship one-day virtual seminar "Winning With Leasing!".  

The webinar was customer centric focused. Attendees familiarized themselves with the use of proper terminology, learned the correlation between marketplace products and their accounting classification, grasped the detailed criteria distinguishing between the two types of leases, studied how these leases appear on the financial statements of their customers, and concluded which type of lease is best suited depending on which financial reporting benefits their customers seek.

Mr. Amembal stated: "Lease accounting is complex enough that even accountants have difficulty fully understanding the intricacies. While those in the front office do not by any means need to fully grasp each and every accounting complexity, they must understand enough to intelligently liaise with their customers. I earnestly hope this objective was accomplished based on the topics I covered".

For further information regarding Sudhir Amembal's seminars, please contact Kelly Farnham at kelly@amembalandhalladay.com.

Sudhir Amembal created the first-ever equipment leasing seminar for the industry.  He has spearheaded training for 80,000 equipment finance professionals and published 18 books for the industry.  Mr. Amembal is the recipient of multiple accolades for the services he has rendered to the industry (ELFA Hall of Fame Inductee, Monitor Converge 2023 and 2024 MVP Behind the Scenes Nominee, Monitor 2024 Industry Pioneer Icon, and First Ever Honorary CLFP).

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

Equipment Finance Cares Announces Texas Event
April 3rd, Irving, Texas

[QUEEN CREEK, Equipment Finance Cares (EF Cares), a non-profit dedicated to fostering connection, philanthropy, and industry support within the equipment finance sector is excited to announce the next regional networking event.

This event will take place on Thursday, April 3rd, at The Ranch Las Colinas in Irving, TX. It is proudly hosted by Arvest Equipment Finance, Centra Leasing, and the National Equipment Finance Association (NEFA).

Equipment Finance Cares Announces Texas Event in April

[QUEEN CREEK, AZ | MARCH 5, 2025] Equipment Finance Cares (EF Cares), a non-profit dedicated to fostering connection,philanthropy, and industry support within the equipment finance sector is excited to announce the next regional networking event.

This event will take place on Thursday, April 3rd, at The Ranch Las Colinas in Irving, TX. It is proudly hosted by Arvest Equipment Finance, Centra Leasing, and the National Equipment Finance Association (NEFA).

Jesse Johnson, Founder of EquipmentFinance Cares, said, "Equipment Finance Cares is thrilled to return to the greater Dallas-Fort Worth area," said. "We sincerely appreciate our hosts and sponsors for their invaluable support in making these events possible."

The event will feature a dynamic lineup of industry leaders and experts, starting with "The Human Side of Equipment Finance" panel discussion, moderated by Tom Forbes of Wintrust Commercial Finance. Panelists include Kent Hammett, COO, Equify Financial; Eric Bunnell, President, Arvest Equipment Finance; John Boettigheimer, President, Centra Leasing; and Lilibeth Martinez, AVP, Assurant.

Following the panel, Hilary Bilbrey, Co-Founder of PEQ Performance: Rooted in Positive & Emotional Intelligence (PEQ), will deliver the keynote session. Hilary’s workshop will guide leaders in aligning actions with values, building trust, and fostering high-performance workplace cultures. PEQ Performance has partnered with Fortune 200 companies and leaders across biotech, finance, SaaS, and professional services, helping organizations transition from reactive problem-solving to proactive, trust-based leadership.

A core focus of EF Cares is showcasing how industry professionals and organizations are making a difference. This event will spotlight several nonprofit organizations, including Love Life Now, Equipment Leasing & Finance Foundation, NEFA Foundation, St. Anthony’s Academy, First Tee Dallas, and Neuro Assistance Foundation.

The event will conclude with a two-hour networking session, with Arvest Bank serving as the host sponsor.

Eric Bunnell, President of Arvest Equipment Finance, said, "Arvest Bank was founded over 60 years ago, and our culture is our identity. Our mission is simple: people helping people find financial solutions for life. We are deeply committed to the communities we serve and, as a division of the bank, Arvest Equipment Finance embraces that same vision—encouraging our associates to get involved and give back. We are excited to host and co-sponsor this event, furthering our dedication to making a positive impact."

Riley Nemuth, Senior Asset Manager at Wintrust Commercial Finance and EF Cares Advisory Board member, will chair this event.

"Wintrust Asset Finance and I are thrilled to support another Equipment Finance Cares event in North Texas," said Nemuth. "This gathering is a fantastic opportunity to connect, collaborate, and make a meaningful impact in our industry and community. I can’t wait to see the conversations, ideas, and positive change that will come from bringing EFC back to our region!"

About Equipment Finance Cares

Founded in 2021, Equipment Finance Cares (EF Cares) creates opportunities for professional and philanthropic connections in the equipment finance industry through peer leadership, awareness, and charitable giving. What began as a simple vision—to foster aculture of giving within the industry—has become a thriving movement. Through record-breaking donations, impactful events, and expanding industry partnerships, EF Cares is making a lasting impact. Our mission continues to grow, driven by the collective generosity and engagement of the equipment finance community. For additional information on the event and Equipment Finance Cares please go to www.equipmentfinancecares.com

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

News Briefs

Job Cuts Surge on DOGE Actions, Retail Woes;
    Highest Monthly Total Since July 2020
https://www.challengergray.com/blog/job-cuts-surge-on-doge-actions-retail-woes-highest-monthly-total-since-july-2020/

Trump Tells Cabinet Secretaries to Take Lead
    on Making Agency Cuts, Not Musk
https://www.wsj.com/politics/policy/trump-tells-cabinet-secretaries-to-take-lead-on-making-agency-cuts-not-musk-3045b786?st=pVnPAS&reflink=desktopwebshare_permalink

Judge puts federal funding freeze on ice,
    finding Trump placed himself ‘above Congress’
https://www.courthousenews.com/judge-puts-federal-funding-freeze-on-ice-finding-trump-placed-himself-above-congress/

Trump tariffs live updates: U.S. pauses tariffs on
    some Canadian, Mexican imports until April 2
https://www.cnbc.com/2025/03/06/trump-tariffs-live-updates-businesses-warn-of-ripple-down-effects-from-tariffs-because-of-rising-costs.html

Inside U.S. spy agencies, workers fear
    a cataclysmic Trump cull
https://www.washingtonpost.com/national-security/2025/03/06/cia-nsa-doge-layoffs-firing/

China Is Secretly Worried Trump Will Win on Trade
    Beijing wants to avoid becoming isolated like the Soviet Union
https://www.wsj.com/world/china/china-trump-trade-war-worries-0c2fa146?st=THngbV&reflink=desktopwebshare_permalink

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Business Executives’ Outlook on U.S. Economy Fades  
    Amid Tariff and Inflation Worries, AICPA & CIMA Survey Finds
https://www.aicpa-cima.com/news/article/business-executives-outlook-on-u-s-economy-fades-amid-tariff-and-inflation

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Sports Briefs---

49ers legend's son reportedly could help team
replace Deebo Samuel
https://www.sfgate.com/49ers/article/49ers-legend-son-replace-deebo-samuel-20199966.php

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California News Briefs---

Walgreens agrees to be acquired by private equity
  firm for almost $10 billion
https://www.sfgate.com/business/article/walgreens-agrees-to-be-acquired-by-private-equity-20207242.php

Game-changing' new park twice the size of Union Square   
   inches closer to reality in San Francisco
https://www.sfgate.com/local/article/embarcadero-plaza-san-francisco-new-park-20204624.php

Historic California mall designed by famous
  architect sold for $123.5M
https://www.sfgate.com/centralcoast/article/central-coast-california-mall-new-owners-20200101.ph

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Gimme that Wine

 

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

Wine Fair Halifax 2025 Takes a Stand:
  No U.S. Wines at This Year's Event
https://www.winebusiness.com/news/article/299145

Parable Wines Defies Industry Downturn, Moves
Forward With Winery & Tasting Room
https://www.winebusiness.com/news/article/299181

Constellation Eyeing Exit from Wine Business
https://www.winebusiness.com/news/article/299062