New Hires/Promotions in the Leasing Business
and Related Industries

Retired


Lisa Genereaux, CLFP, Palm Desert, California. Retired Account Executive, Large Institutions, Dell (March, 2012 - May,2024); Founder, Busyness Development and Sales, Art Rent and Lease (December 2000 - March, 2012). Full Bio:
https://www.linkedin.com/in/lisagenereux/details/experience/
https://www.linkedin.com/in/lisagenereux/\

Jodie MacKinnon, CLFP, was hired as Strategic Initiatives Manager, M&T Bank, Buffalo, New York. Previously, she was at Key Equipment Finance, starting as VP, Operations Manager, Leasing, promoted April, 2019, Business Analyst, promoted SVP, Originations Manager. She began her career as Banking Officer, First Niagara Bank, June, 2004 - April, 2015).
https://www.linkedin.com/in/jodi-mackinnon/

Rashawn Parker was hired as Credit Risk Manager and Underwriting, SLR Equipment Finance, Wilton, Connecticut. She is located in New York, New York. Previously, she was Vice President, Senior Underwriting Officer, Flagstar Bank (July, 2022 - May, 2024). Full Bio:
https://www.linkedin.com/in/rashawn-parker-9546921a/details/experience/
https://www.linkedin.com/in/rashawn-parker-9546921a/

Zalong Wang was hired as Senior Managing Director, Head of Sponsor Underwriting, Ansley Park Capital, White Plains, New York. Previously, he was Vice President, Barclays, Leveraged Finance, Credit Risk (January, 2023 - March, 2024); Vice President, Goldman Sachs, Diversified Industrial, Credit Risk; Vice President, Goldman Sachs, Diversified Industrials, Credit Risk; Vice President, CIT, Asset Finance, Underwriting (May, 2018 - June, 2021). Full Bio:
https://www.linkedin.com/in/zilong-wang-9a433365/details/experience/
https://www.linkedin.com/in/zilong-wang-9a433365/

Mark Windknecht, CLFP, was promoted to Credit Leader, Great America Financial Services, Cedar Rapids, Iowa. He joined Great America August, 2013, Credit Analyst 1, promoted February, 2015, Credit Analyst II/Credit Operations; promoted Credit Analyst III/Large Transaction Analyst, August, 2017, promoted Credit Analyst IV/Large Transaction Analyst (May, 2022 - May, 2024). Full Bio:
https://www.linkedin.com/in/mark-windeknecht-clfp-8b24a342/details/experience/
https://www.linkedin.com/in/mark-windeknecht-clfp-8b24a342/

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Plenty of Opportunities
by Scott Wheeler, CLFP
Wheeler Business Consulting

Personal Commentary: I speak to originators throughout the commercial equipment finance and leasing industry on a daily basis. The originators vary greatly from new originators to veterans with twenty plus years of experience; from originators working for smaller independents to major banks and institutional players; and originators who focus on a variety of different equipment types and industries.

The conversations often revolve around the facts that it takes more effort to generate new opportunities in 2024 compared to just a few years ago; rates have risen significantly since mid 2022, credit criteria are tighter in 2024 than they were in the recent past. All of these statements are correct. However:

• By historical measurement, yields remain well within reason. They are not at a high mark or a low mark. Yields are well aligned with current market conditions. (I remember well the early 1980's when prime rates were in the twenty percent range)

• By historical measurement, credit requirements are more than reasonable. Credit has tightened based upon current risk within the market and a significant rise in delinquencies within the commercial equipment finance and leasing industry. Although delinquencies have risen, on average, delinquencies are well within historical levels and it is my opinion that credit requirements are also well within reason.

• By historical measurements, the market always requires more effort for those who want to excel in all economic cycles. Transitional periods eliminate the weak and unprepared. Vendors and end-users always prefer to work with financial professionals who know their products and services. Originators who fully understand the markets they serve, the economics of every transaction, and can provide significant value to their clients, employers, and other stakeholders.

In 2024, businesses are continuing to purchase commercial equipment. Businesses purchase commercial equipment to expand their business, to gain efficiencies, and to create profits. The products and services the commercial equipment finance and leasing industry provides allow any business to grow, become more efficient and improve bottom line profits. The US economy needs strong originators to provide superior financing and leasing products to commercial entities. Now is the time for top producing originators to flaunt their value and capabilities. In 2024, there are plenty of opportunities for every originator to maximize their productions and personal incomes.

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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Leasing and Finance Industry Help Wanted

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

 

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How People Get Around, Car, Pubic Transportation,    
Walking, Biking in America, Europe, and Asia

Source: Visualcapitallist.com

 

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American Association Of Commercial Finance
Brokers Announces New Board Members

(Louisville, KY) The American Association of Commercial Finance Brokers (AACFB) announces the election of two new additions to the AACFB Board of Directors and the election of a new Vice President.

Paul Bosley with Business Finance Depot will serve as the new Secretary/Treasurer.

Megan Eddings with Fleet Lending Solutions will serve in the role of Director at Large.

Kortney Murray with Coastal Kapital, LLC will now serve in the role of Vice President.

AACFB President, Roderick Knoll, CLFP, announced, “I am excited to extend a warm welcome our newest board members and congratulations to Kortney Murray as she assumes her new role! Their dedication and expertise will undoubtedly enrich our organization. Together, we will embark on this exciting chapter of growth and innovation.”

More about the newest board members:
Paul Bosley is known for his expertise in financing franchises, RV parks, and campgrounds. He is the founder of Healthclubexperts.com dba Business Finance Depot and has partnered with several national franchises to assist franchisees with acquiring the capital they need to launch their new businesses or expand their existing businesses. Paul is the finance instructor for the Outdoor Hospitality Industry’s (OHI) national school, Woodall’s Campground Magazine’s Master Class, and the American Glamping Association’s Glamping University. He is a regular speaker and contributing writer for franchise, fitness, and RV park and campground conferences and publications. Paul also serves as a volunteer and finance workshop leader for S.C.O.R.E., a division of the SBA, and as the finance chair of his church.

Megan Eddings  has been in the finance industry since 2017. She began as a Regional Sales Manager for Fleet Lending Solutions. Through her connections with dealerships, relationships built with customers and vendors, and her love for sales, she moved quickly into the role of VP of Sales. Megan works with fifty lenders in the industry and dealerships all over the United States. Her favorite part of her career is the relationships that are built, the friendships that are made, and being able to help clients when they need it most. Prior to joining Fleet Lending Solutions, Megan worked in healthcare.

About American Association of Commercial Finance Brokers (AACFB)
The American Association of Commercial Finance Brokers (AACFB) is the premier trade association empowering independent commercial finance brokers. The AACFB represents the expanding interests of its growing membership by providing best practice education and networking opportunities, while promoting a culture of ethics. For more information visit: www.aacfb.org.

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Chris Walker Education Fund Accepting Grant Requests
and Announces Availability of $20K
in Grants to Support Education Initiatives

Chris Walker, CLP

The Chris Walker Education Fund Committee is continuing its annual mission in honoring late NEFA Member and Member of NEFA’s Board of Directors, Chris Walker.

The Chris Walker Education Fund focuses on an issue near and dear to Chris’s heart – education and the idea of a “lifetime of learning.” The Board is now actively raising funds and accepting grant requests to honor Chris’s great service to the industry until the application deadline of June 15, 2024.

The fund will award a total of $20,000 in grants to be distributed by the end of August 2024. The grant application process is available to individuals as well as associations, foundations, and institutions. Individual grants may be requested up to $1,500, or an amount equal to the cost of qualified industry-related education.

Funds available through the Chris Walker Education Fund may be used for any project or need that provides industry education opportunities for leasing professionals. This includes grants for industry-related education, certifications (such as the Certified Lease and Finance Professionals (CLFP) designation), educational initiatives of the NEFA, or other educational initiatives related to the equipment finance industry.

Through its founding in 2011, the Chris Walker Education Fund has now funded over $100,000 in educational grants. All grant requests must be submitted online through the following link: https://www.nefassociation.org/about-us/chris-walker-education-fund/.

About the fund
Education was always important to Chris Walker, as a NEFA Member and Member of NEFA's Board of Directors. When Chris passed away in 2011, many NEFA Members and other industry professionals wanted some way they could make a donation to honor Chris and continue his great service to this industry. This resulted in the creation within NEFA of the Chris Walker Education Fund. The Board of Trustees is industry leaders who donate their time and talents to promote the mission of the Chris Walker Education Fund. For more information on the Chris Walker Education Fund, visit https://www.nefassociation.org/page/Chris_Walker_Education_Fund.

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Labradoodle   (Correct photo)
Anaheim, California Adopt-a-Dog

Daisy - The Sweet Doodle

Female
11 months old
Up to date on shots
Needs to be spayed
Housebroken
Good with other  dogs
Good with Older Children
Prefers a home without children
Not tested with cats
vaccinations up-to-date
Characteristics:
Friendly, Affectionate, Playful
Smart, Funny, Athletic

Daisy - The Darling Doodle

Daisy is a darling, very shy girl looking for her perfect, forever home. She would thrive in an active but quiet home. She’s timid at first but will warm up fairly quickly.

She’s does well with other dogs, great with OLDER kids. She’s LOVING, smart and loves to cuddle.

She is potty trained and does well on leash.

Adoption Process:
Telephone Screening
Application
Meet and Greet
Home Check

Nor Cal Rescue Pups
Anaheim, CA
Norcalrescuepups@yahoo.com

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Five Key Financial Insights
By Randy Haug, LTi Technology Solutions

1. Optimism in the Equipment Finance Industry: Despite the high rate environment, there was a positive buzz of optimism throughout the conference, especially among Independent Equipment Finance companies and Bank Equipment Finance companies. With plenty of dry powder available, these companies are seizing the opportunity to grow and thrive. Rates may be higher, but they are still experiencing significant growth, especially in sectors such as small ticket/vendor, middle market, and structured finance where the focus is on funding essential use equipment.
2. Strategic Growth and Innovation: Many client partners are not only doing well but also growing and diversifying their portfolios into higher margin sectors. With strategic decisions to take advantage of new business sectors not subject to bank compliance restrictions and overhead and leveraging leading-edge technology, these companies are transforming the industry. Adept at leveraging their top-of-the-line marketing, credit, operations, and experienced executive leadership teams, they are setting new standards and driving the industry forward. A combination of strategic business thinking and powerful state of the art technology is a winning combination driving growth.
3. Rise of Private Equity and Private Credit: Private equity and private credit-based funding businesses are creating niches in the Equipment Finance ecosystem and performing well. Born out of GE Capital, many of these businesses are led by former GE Capital professionals who are now competing in this fragmented sector. They’re innovative, smart, and growing quickly, making them a force to be reckoned with in the market. Will they all survive and thrive or will there be a consolidation? Watch this group closely as they grow in size and number. Combined with the newly emerging financial backing and “clubbing up” strategy with traditional Bank lessors on large transactions, they will be a disruptive force in the industry to drive change. Smart, innovative and engaging, these leaders are driving growth, inspiring new ways of thinking, and growing both their footprint and their number with strong financial backing. Will they sustain this growth or succumb to consolidation as some take their profits off the table? A segment worth watching.
4. Captive Finance Companies Experience Shift: Captive finance companies are also doing well, albeit with some concerns about funding. While their mission is to help parent manufacturers move equipment through their sales distribution channels, they are facing challenges due to dropouts of banks and regional banks that used to fund a large portion of their business. However, they are actively seeking additional sources of capital to sustain their growth as their manufacturers equipment prices continue to grow.
5. Evolution In Bank Equipment Finance Marketplace: The bank equipment finance marketplace continues to evolve with some banks focusing on existing clients and larger project financing opportunities. Some have plenty of capacity, others are moving up market, shifting focus to existing clients and larger project finance opportunities such as Clean Energy, Railcar Financing and projects funded with depositor relationships. Notably, many banks are getting liquidity back into their systems and exploring innovative ways to conduct business, including syndication and securitization vehicles while exploring new and innovative ways to conduct business in the future

Randy Haug | EVP/ Co-Founder
LTi Technology Solutions
w: 402.493.3445 ext. 1014
Mobile: 402-981-3155
rhaug@ltisolutions.com
www.ltisolutions.com

(Originally a report given to the The 35th Annual ELFA National Funding Conference, which Randy Haug remarked “was an insightful and valuable learning and networking opportunity. It is clear, despite the challenges posed by the current economic situation, the industry remains strong, resilient, and full of opportunities.”)

News Briefs

Wholesale price increases accelerated in April
    as inflation remains sticky
https://apnews.com/article/inflation-federal-reserve-powell-c8c2bf0556446c1c4c858f6fc2f877ea

Elon Musk seems to have decided he needs his
    Supercharger  after all, weeks after axing the division
https://www.businessinsider.com/elon-musk-realized-he-needs-his-supercharger-team-after-all-2024-5

Tesla’s layoff spree continues with 600
    new job cuts in Bay Area
https://www.sfchronicle.com/bayarea/article/tesla-layoffs-bay-area-19457581.php

Walmart will lay off hundreds of corporate workers,
    others to relocate
https://www.washingtonpost.com/business/2024/05/14/walmart-layoffzzz[s-relocate-remote-jobs/

Job search giant Indeed  to lay off
    1,000 Works, 87 from SF Bay Area
https://www.sfgate.com/tech/article/indeed-1000-layoffs-foster-city-19456103.php

Pizza Hut Enters the Burger Business with
    New Cheeseburger Melt
https://www.prnewswire.com/news-releases/pizza-hut-enters-the-burger-business-with-new-cheeseburger-melt-302143979.html

43% of Recent Home Buyers Struggle
    to Make Mortgage Payments
https://www.prnewswire.com/news-releases/43-of-recent-home-buyers-struggle-to-make-mortgage-payments-302144414.html

Boeing Violated Criminal Settlement After 737
    MAX Crashes, Justice Department Says
https://www.wsj.com/business/airlines/boeing-violated-criminal-settlement-after-737-max-crashes-justice-department-says-3df4f330

24 states file first lawsuit challenging
    EPA’s new truck emission rule
https://landline.media/24-states-file-first-lawsuit-challenging-epas-new-truck-emission-rule/

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How Biden’s Trade War With China Differs
    From Trump’s
https://www.nytimes.com/2024/05/14/us/politics/biden-trump-china-trade.html

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Sports Briefs---

A’s, Oakland still ‘far apart’ on Coliseum
    extension; Sacramento meeting looms
https://www.eastbaytimes.com/2024/04/02/oakland-as-and-city-officials-remain-far-apart-on-coliseum-lease-extension-after-tuesdays-meeting/

49ers to open season on ‘Monday Night Football’
    against Aaron Rodgers, Jets
https://www.pressdemocrat.com/article/sports/49ers-jets-monday-night-football/

Warriors head coach Steve Kerr honored
    by Pro Basketball Writers Association
https://www.sfchronicle.com/sports/warriors/article/warriors-steve-kerr-honored-pro-basketball-19457408.php

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California News Briefs---

California Exodus Left a Gaping Population Hole.
    Can the Golden State Finally Bounce Back?
https://www.msn.com/en-us/money/realestate/california-exodus-left-a-gaping-population-hole-can-the-golden-state-finally-bounce-back/ar-BB1mmnkt

72-year-old San Francisco business Shreve & Co.
    announces plans to leave city
https://www.sfgate.com/local/article/shreve-co-leaves-san-francisco-union-square-19457657.php

Another major retailer to close store
    at San Francisco mall, citing neglect
https://www.sfchronicle.com/sf/article/american-eagle-closing-sf-mall-19457486.php\

S.F. downtown exodus: Map shows every
    major retail closure since 2023
https://www.sfchronicle.com/projects/2023/san-francisco-downtown-closing/

KQED to lay off 18 to 25 employees after
    buyout packages weren't enough to offset costs
https://www.sfgate.com/bayarea/article/kqed-employee-layoffs-buyout-packages-19458013.php

Californians are fleeing to a rich southern enclave
    Locals aren’t happy.
https://www.sfgate.com/bayarea/article/california-conservatives-moving-plano-frisco-texas-19449583.php

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Gimme that Wine

 

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

Wine of the week: Tom Mackey Cellars,
    2021 Sirius Red Wine
https://www.pressdemocrat.com/article/lifestyle/wine-food-tom-mackey-cellars/

WineBusiness Tasting Room Survey Results    
    Webinar Zoom Registration - May 22  11:00am PCT
https://us02web.zoom.us/webinar/register/9817132990726/
WN_GLnPWRGLRLOe504WhaMBFg#/registration

Sommelier Wine Awards 2024 revealed
    Printer Friendly Version
https://harpers.co.uk/news/fullstory.php/aid/32769/Sommelier_Wine_Awards_2024_revealed.html

California wine is in serious trouble
    Boomed for 25 years, then started to unravel
https://www.sfchronicle.com/food/wine/article/california-wine-industry-downturn-18711236.php