North Mill Equipment Finance Receives Court Approval
to Acquire Pawnee Leasing & Tandem Finance

North Mill Equipment Finance received approval on Monday from the U.S. Bankruptcy Court for the District of Delaware to acquire Pawnee Leasing Corporation and its affiliated assets through a court-sanctioned sale process. The sale is expected to close on March 31, 2025, according to a representative from North Mill.

The transaction was authorized under Chapter 15 proceedings tied to the insolvency of Chesswood Group Limited, Pawnee’s Canadian parent company. The court recognized and enforced a Canadian order approving the sale, allowing the deal to proceed “free and clear of all liens, claims, encumbrances, and other interests,” according to the court’s March 24 order.

The sale followed a court-approved sale and investment solicitation process (SISP) initiated in Canada in December, 2024. The Canadian court entered a vesting order on March 7, 2025, approving the asset purchase agreement between the debtors and North Mill.

The court found that the transaction was negotiated in good faith, at arm’s length, and for fair market value. It also ruled that North Mill is not a successor to the debtors and will not assume any liabilities other than those explicitly agreed upon.

The deal includes all of Pawnee Leasing’s and Tandem Finance’s purchased assets, while certain excluded assets and liabilities are being transferred to a newly created entity, ResidualCo.

“This transaction represents a sound and reasonable exercise of the Debtors’ business judgment,” the court stated, emphasizing that the sale provides value and is in the best interests of the estates and stakeholders.

With the closing of the transaction, the Chapter 15 cases for Pawnee Leasing and Tandem Finance are set to be closed.

The sale proceeds will be used to repay Chesswood’s debtor-in-possession and pre-filing lenders, as outlined in the DIP financing agreement.

The transaction was finalized under U.S. Bankruptcy Judge Craig T. Goldblatt.

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Pawnee Leasing 30th Year Anniversary
30 Year History
https://leasingnews.org/archives/Mar2012/3_23.htm#pawnee2

https://leasingnews.org/archives/Mar2012/3_21.htm#pawnee

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New Hires/Promotions in the Leasing Business
and Related Industries

Scott Brandt was hired as Senior Vice President, Credit & Risk Management, 36th Street Capital Partners, Morristown, New Jersey. He is working remote. Previously, he was Senior Vice President, Risk, SLR Equipment Finance, working remotely (May, 2022 - March, 2024); He joined DLL August, 2011 as Credit Underwriter II, promoted Senior Credit Underwriter, January, 2013, promoted IF Credit Manager, Large Ticket, October, 2014, Promoted Director, Retail Credit, April, 2019, promoted Vice President of Credit, December (2020 - May,2022); Credit Manager, CT&I/Direct (May, 2015 - April, 2019); IF Credit Manager, Large Ticket (October, 2014 - May, 2015).
https://www.linkedin.com/in/scott-brandt-376761b5/

Tyler Culver, CLFP, was promoted to Lead Business Unit Financial Analyst, Speciality Markets Group, Great America Financial Services, Cedar Rapids, Iowa, where he is located. He joined Great America, November, 2018. All 4 experiences: https://www.linkedin.com/in/tylerculver/details/experience/
He was Financial Analyst, IBM (May, 2014 - October, 2015); Financial Advisor Intern (May, 2013 - August, 2013).
https://www.linkedin.com/in/tylerculver/

David Howson was hired as Vice President,  RPCE Equipment Solutions, Jersey City, New Jersey, where he is located. Previously, he was with Societe Generale Equipment Finance, SGEF, starting January, 2020, Contracts Manager, promoted Vice President (May, 2021 - March, 2025): He joined CIT in 1998 as Government Finance Manager, promoted 2004, AVP, Operations, promoted 2010, Vice President, Sales Support and Operations, Telecom, promoted Vice President, Sales Support and Operations, Technology and Telecom (February, 2012 - July, 2019) Vice President, Sales Support and Operations, Telecom (2010 - 2012); Promoted AVP, Operations (2004); promoted Government Finance Manager (1998 - 2004).
https://www.linkedin.com/in/davidahowson/

Natalie Jeanson was hired as Equipment Finance Equipment Manager, National Bank of Canada. She is located in Winnipeg, Manitoba. Previously, she was at CWB National Leasing, starting March, 2015, Credit Analyst, promoted Senior Credit Analyst, March, 2015, promoted Credit Manager, June, 2024, promoted Senior Credit Analyst (June, 2021 - March, 2025); Credit Analyst, National Leasing Group (March, 2015 - June, 2021); Caisse Financial Group (April, 2021 - March, 2015).
https://www.linkedin.com/in/natalie-jeanson-b32884a0

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Balboa Capital Available Position
Program Manager II- Equipment Broker Sales

(This press release shows the use of Artificial Intelligence to speed up the process of both proving the credit worthiness but speed in completing the process of closing a deal. - Editor)

Quality Equipment Finance implements
Tamarack AI® DataConsole™ and AI Predictors
to drive operational efficiency and growth

St. Paul, Minn. — National commercial equipment finance company,  Quality Equipment Finance, has implemented Tamarack Technology’s Tamarack AI® DataConsole™ and AI Predictors to support business growth and drive operational efficiency both internally and with broker partners.

The Tamarack AI platform positions Quality to make informed decisions that drive better customer engagement as well as leverage AI going forward, which is essential in today's increasingly competitive marketplace.

C.J. Zaruba,  CLFP, Chief Operating Officer at Quality Equipment Finance, said, “We knew what we wanted to do with our data, but we did not have it consolidated and structured to take advantage of our team’s experience.

 “This is a pivot point for Quality. With Data Console, we are better serving our customers and making better decisions faster as we engage new markets and origination partners.”

Scott Nelson, President and CTO at Tamarack Technology, said, “Quality is a great example of a company that is innovating to be more competitive.

“They are acting on their belief that data is a key to competitive advantage and building a team with strong analytic capabilities who will continue to be successful in the marketplace.”

The integrated solution replaces time-consuming manual processes with automated business intelligence via Tamarack’s Data Console being connected to Quality’s ALS contract management system and Salesforce-based origination system. The consolidated system of record enables Quality to make better use of the data generated by its business and quickly make decisions using the analytics tools of the platform.

About Quality Equipment Finance

For more than 65 years, Quality Equipment Finance (formerly Quality Leasing Co., Inc.) has offered business owners across the U.S. commercial equipment financing with flexible terms, convenient structures, and personalized service. Funding equipment from medical to manufacturing to titled vehicles—and everything in between—Quality focuses on A- to C-credit transactions from $30,000 up to $1,000,000. The Quality team strives to make the financing process fast and easy for every customer, every time. For more information, please visit:  https://www.qualityequipmentfinance.com/

About Tamarack Technology, Inc.

For more than 20 years, Tamarack Technology, Inc. has been helping equipment finance companies improve productivity and profitability with software consulting and cutting-edge technology products. Today, Tamarack is the only professional services and product provider in the industry to deliver AI, business intelligence and customer self-service that maximize equipment finance operations across the entire software ecosystem. Tamarack’s industry experts understand equipment finance and can enhance a company's existing systems, close technology gaps and drive improved performance. For more information, please email discover@tamarack.ai or visit : https://tamarack.ai

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Keep It Simple
By Scott Wheeler, CLFP

Successful originators in the commercial equipment finance and leasing industry make the process easier for their vendors and end-users. Top originators emphasize the ease of doing business with them. They offer a "hassle free" experience and excellent communication to keep their clients up to date at every stage of the process.

I recently heard an originator explain, to a prospect, the process of facilitating a transaction through his company. I assumed the originator was trying to flaunt his knowledge and expertise. However, after a twenty-minute, exhausting dissertation, the prospect said that he would get back in touch. If I were the prospect, I also would have moved on. The explanation was much too detailed. The prospect was looking for an easy process and the originator conveyed a complicated, lengthy process with extreme hurdles along the way. My suggestion was to keep it simple.

• Step 1. The prospect submits a completed, signed application with all necessary information.

• Step 2. The credit department adjudicates the application.

• Step 3. Upon receiving an approval and finalizing the terms and conditions, the transaction is ready for documentation.

• Step 4. Once the signed documents are returned, the equipment is delivered, and the vendor has submitted the correct invoice, then the company is ready to fund the transaction.

The commercial equipment finance and leasing industry is not a difficult business. Top originators emphasize the simplicity of facilitating a transaction. Don't oversell your knowledge - keep it simple.

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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ELFA Reports February New Business
Volumes Rebound 3.7%

The Equipment Leasing and Finance Association reports February total new business volume rose by $9.7 billion seasonally adjusted among 121survey ELFA member companies, an increase of 3.7% from the prior month.

Leigh Lytle, President and CEO at ELFA, said, “The latest CFI release showed a return to normalcy in February. Demand for equipment returned to healthy levels after whipsawing the last few months due to a historic swing in financing activity at banks

“Financial conditions weakened a little as losses rose, but accounts past 30 days remained low, and new applications remained strong. 2025 is shaping up to be bumpy, but so far, the data indicates that demand for investment equipment has weathered the storm. We’re closely watching financial conditions for signs of erosion, but we expect the industry to have a solid year as long as the economy avoids a recession.”

Peter Bullen, Executive Vice President & Group Head at Key Equipment Finance, stated, “KeyBank remains optimistic as credit quality continues well within historical norms, capital is abundant and the desire for earning assets is strong.

“We are also encouraged to see a significant rebound from Key Equipment Finance clients in equipment financing demand compared to last year at this time. At the same time, we remain vigilant of the potential impact of new tariffs and general economic uncertainty on capital spending.”

Industry Confidence:
The Monthly Confidence Index from ELFA’s affiliate, the Equipment Leasing & Finance Foundation, dropped to 58.1 in March, as respondents grew slightly more pessimistic about conditions over the next four months.

https://www.elfaonline.org/knowledge-hub/capex-finance-index/elfa-capex-finance-index--february-2025

News Briefs

With a U.S. Ban Looming, TikTok Portrays Itself
    as a Force for Good
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Trump says student loans will be handled by
    Small Business Administration
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Small Business Administration to reorganize,
    cut about 2,700 jobs
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Deportations haven’t surged under Trump.
    But here’s how they’ve changed.
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United Airlines Technicians Reject ‘Dead on Arrival’
    Contract Proposal, Teamsters Say
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How to Avoid the Copycat Hotel Websites
    That Are Ripping You Off
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Consumer confidence plummets to lowest level
    since January 2021
https://www.cnn.com/2025/03/25/economy/us-consumer-confidence-march-recession/index.html

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Sports Briefs

Boston Celtics to be sold for a record price
   to San Francisco Bay Area billionaire
https://www.sfgate.com/sports/article/boston-celtics-sold-record-bay-area-billionaire-20232357.php

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California News Briefs

    
Yosemite isn't the only national park dealing
   with a reservations nightmare
https://www.sfgate.com/national-parks/article/national-park-reservations-nightmare-20232044.php

A visit to the last Chuck E. Cheese in California
    with an animatronic band
www.sfgate.com/food/article/chuck-e-cheese-northridge-animatronic-band-20222422.php

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Gimme that Wine

 

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

Jams Laube Respected wine critic, Wine Spectator
    Napa bureau chief dies
https://www.bing.com/search?q=Respected+wine+critic%2C+Wine+

Paso Robles winery gains historic recognition
https://pasoroblesdailynews.com/paso-robles-winery-gains-historic-recognition/209906

Taste Washington sees record attendance
https://www.northwestwinereport.com/2025/03/taste-washington-sees-record-attendance.html