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Onset and Channel Unite Teams and Partners
at ‘The Launch’ Celebration

Draper, UT, and Minnetonka, MN (May 6, 2025) – Onset and Channel, now a united leading independent lender in equipment finance and working capital solutions, hosted “The Launch” on May  5, 2025, at U.S. Bank Stadium in downtown Minneapolis. The event formally marked the start of their next chapter together, following Onset’s recent acquisition of Channel and its subsidiaries.

Bringing together team members and a select group of service and industry partners, the evening was a celebration of what’s been accomplished and what lies ahead. Set on the field of one of the nation’s most iconic stadiums, the evening was a high-energy blend of laughter, meaningful connection, and a moment that signals both momentum and shared purpose.

Brad Peterson, Co-Founder & CEO of Channel

Guests entered through the exclusive players tunnel – an exciting start to the thoughtfully curated evening that kicked-off with a relaxed social hour, followed by dinner and remarks from company leadership. Justin Nielsen, Founder & CEO of Onset, and Brad Peterson, Co-Founder & CEO of Channel, spoke about the combined strength of their organizations, and a commitment to build one  of the largest, best-in-class independent finance platforms, focused on partners-first, industry expertise, technological excellence, and unbeatable culture alignment.

Justin Nielsen, Founder & CEO of Onset

“This is a legacy evening that goes way beyond celebrating a transaction,” said Nielsen during the event. “We’ve come together with the right people, the right experience, and the right mindset to meet this moment. Combining two fiercely independent organizations with exceptional financial strength and perfectly aligned cultures, we’re positioned to move faster, think bigger, and serve our partners better than ever before, no matter the market conditions. This is just the beginning of what we can accomplish together.”

Reflecting the spirit of alignment and acceleration behind the acquisition, the evening emphasized that the power of partnership will define the next chapter of growth and market leadership for the collective organization.

The evening was completed with friendly on-field competitions and a special closing performance by comedian Frank Caliendo. Attendees received customized gift bags with co-branded items from both organizations, offering a tangible reminder of the new partnership.

“The Launch” was the first major gathering since the acquisition was finalized on April 8, 2025, and set the tone for what’s next: a powerful integration focused on continuity, creativity, and shared success.  Both Onset and Channel will continue operating under their respective brands while delivering combined value through enhanced service offerings, expanded market reach, and a unified commitment to its partners and customers.

### 
About Onset Financial, Inc. 
Founded in 2008, Onset Financial, Inc. is an industry leader in equipment leasing and financing.  Onset’s seasoned Management Team has decades of equipment leasing experience and key industry relationships that enable Onset to offer additional flexibility in lease structuring. For more information, please call 801-878-0600 or visit www.onsetfinancial.com.  

About Channel 
Established in 2009, Channel is a leading full-service independent lender offering a single source solution for both equipment finance and working capital to small businesses. To date, Channel and its subsidiaries have funded over $3 billion to more than 30,000 businesses across the U.S. The organization is comprised of three business divisions that operate from its main office in Minnetonka, MN, along with additional locations in Kennesaw, GA, Mount Laurel, NJ, Des Moines, IA, and Marshall, MN.  For more information about Channel, please visit www.channelpartnersllc.com.

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

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What Happens If I Fail to File My CFL License Annual Report
By Ken Greene, Leasing News Legal Editor, Emeritus

In short, bad things. The DFPI is very rigid about annual reports, and very tough on licensees who fail to file on time. They do not grant extensions.

California Financial Code §22159 and California Code of Regulations Title 10, §1062 require that most licensees, with extremely limited exceptions, file an annual report on or before March 15 of each year. Recently, the DFPI made it mandatory to file the report through the department’s Docqnet website. Licensees are provided with designated email addresses in connection with their license applications. These email addresses can be used to sign in to the Docqnet site (link below):

The consequences of failing to file a report on time can be dire. If the DFPI provides a licensee with notice of the deadline, as they do routinely, and the licensee does not file a report within 10 days, the DFPI will summarily revoke the license. The Department interprets Government Code Section 11522 as requiring a one-year waiting period before a licensee can have its license reinstated! That means the licensee must cease making commercial finance transactions in California for up to a year or more. This can be devastating!

In addition, the monetary penalties are very steep. Pursuant to Financial Code §22715(b), the amount may be as much as $100/day for the first five business days that the report is overdue, and as much as $500/day thereafter, not to exceed $25,000!

If this ever happens to you, you should immediately file the late report and a Request for Hearing. If a Request for Hearing is filed in writing within 30 days of the revocation and a hearing is not held within 60 days after the Request, the revocation order is deemed rescinded.

The issues and strategies involved in the hearing process are beyond the scope of this article. Suffice it to say you should do everything within your power to avoid that perilous situation.

CA Fin. Code §22159: https://codes.findlaw.com/ca/financial-code/fin-sect-22159/

CCR Title 10, §1062: https://www.law.cornell.edu/regulations/california/10-CCR-1062

CA Gov. Code §11522: https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?sectionNum=11522

DOCQNET:  https://docqnet.dfpi.ca.gov/

ANNUAL REPORT FAQ: https://dfpi.ca.gov/wp-content/uploads/sites/337/2022/12/2022_CFL-Annual-Report_FAQs.pdf?emrc=b6840e

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

New Hires/Promotions in the Leasing Business
and Related Industries

Mara Carter was hired as EFG Senior Sales Support, First Commonwealth Equipment Finance, Indiana, Pennsylvania. She is located in Greater Philadelphia. Previously, she was Senior Operations Specialist, Structured Sales Support  (August, 2023 -  May, 2025); Finance Coordinator, NewLane Finance (December, 2021 - August, 2023); Account Manager, DLL (February, 2019 - January, 2021); Territory Manager, Technology Finance, PNC Equipment Finance (fka ECN Capital) (August, 2016 - January, 2018). Full Bio:
https://www.linkedin.com/in/mara-carter-585b19126/details/experience/
https://www.linkedin.com/in/mara-carter-585b19126/

Krystle Riggi, CLFP, was hired as Vice President, Blue Owl Capital, New York, New York. She is located in the New York City Metropolitan Area. Previously she was Business Analyst, IT, North Mill Equipment Finance, LLC (March, 2023 - May, 2025); Senior Documentation & Funding Specialist, Webster Bank (February, 2022 - March, 2023); Senior Documentation & Funding Specialist, Sterling National Bank (April, 2021 - February, 2022); Senior Operations Manager, Dedicated Funding, New York (May, 2019 - January, 2021).
Full Bio:
https://www.linkedin.com/in/krystle-riggi-clfp-37a8156/details/experience/
https://www.linkedin.com/in/krystle-riggi-clfp-37a8156/

Natoya Tynda was hired as Generalist at BriteCap, Las Vegas, Nevada. She is located in Birmingham, Alabama. Previously, she was Phone Banker 2, Wells Fargo (January, 2017 - May, 2025); Assistant Director, La Petite Academy (March, 2017 - August, 2017); Lead Preschool Teacher, Jcceo Head Start (August, 2011 - February, 2016); Customer Service  Representative, Lowe's Companies, Inc. (June, 2011 - August, 2012).
https://www.linkedin.com/in/natoya-tyndale-9b0123150

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Balboa Capital Available Position
Program Manager II- Equipment Broker Sales

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California Boasts the Lowest 1st-Year
Small Business Failure Rate
by Bob Coleman, Coleman Report

Last week, I reported on challenges lenders may face in California within an increasingly regulatory environment. Today, I’m taking a positive approach by sharing statistics, which you know I love, about the fifth largest economy in the world.

The first takeaway isn’t really a statistic but more of an observation from last week’s Community Advantage SBLC Executive Lender Summit:

California is experiencing rising commercial and residential real estate property values at a greater pace than the national average. This equity solves many loan default problems.

Now, let’s dive into the statistics:

• California has 4.2 million small businesses, the most of any state.
• California boasts the lowest first-year small business failure rate in the country.
• California is the top state in the country for manufacturing businesses and jobs
• California small businesses export $75 billion annually, making up 43% of all California exports.
• 98% of California small businesses have fewer than 20 employees.
• 7 million jobs have been created by California small businesses.
• 44% of California small businesses are women-owned, and 4% are veteran-owned.
• 25% of California small businesses are Hispanic-owned, and 7% are Black-owned.

Source: CalOSBA

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Define "Perfect"
By Scott Wheeler, CLFP

My favorite questions for commercial equipment finance and leasing professionals are:

• What is the "perfect" relationship for your company?
• What is the "perfect" transaction for your company?
• What is the "perfect" collateral for your company?
• What is the "perfect" team member for your company?

What I find fascinating is that professionals within the same company often have very different answers to these questions.
Lately, the gaps have become even more obvious:

• Credit teams define "perfect" one way,
• Sales professionals define it another,
• Management yet another.

When a team defines success differently, it becomes incredibly difficult to deliver consistent results. This misalignment is a classic sign of failed communication and lack of true stakeholder buy-in. Without a shared playbook, internal misalignment leads to:

• Chaos
• Frustration
• Reduced productivity
• Weaker bottom-line results

It is the responsibility of every internal stakeholder — leadership, sales, credit, operations — to reconnect, clarify the rules, and align on a shared definition of 'perfect', even if today's reality looks very different from yesterday’s expectations. Clear communication and shared understanding are absolutely essential for sustainable success.

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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GreatAmerica Portfolio Services
Celebrates 15th Anniversary

(Cedar Rapids, IA) – GreatAmerica Portfolio Services Group (PSG) proudly announces its 15-year anniversary. Over the past decade and a half, PSG has leveraged the GreatAmerica Financial Services technology platform, operational processes, and industry expertise to offer third-party portfolio servicing and backup servicing to banks, manufacturers/captives, independent lessors, and other finance companies. 

PSG adapts to the business models of its clients, providing flexibility, high standards of customer service, and access to data for effective portfolio management. 


Joe Andries, Vice President and General Manager of PSG, expressed his pride in the team's achievements over the past 15 years, "We are honored with the confidence our clients place in us. They often tell us they trust GreatAmerica with their customers as much as they do with their own employees. I’m proud of the dedication and commitment our team members bring to the market."

Martin Golobic, CEO of GreatAmerica Financial Services, commented,  “The growth of PSG over the last 15 years has been remarkable and is only possible because of the exceptional value the PSG team delivers to their clients.”

The customer experience provided by PSG has helped over 200+ clients, ranging from startups to established companies transitioning their portfolio servicing to GreatAmerica. The consistent performance of PSG has allowed clients to focus on scaling their businesses without operational burdens, ensuring their investors' and stakeholders’ confidence.

Looking ahead, GreatAmerica aims to continue elevating the client experience and add new clients. ServicerZone will be enhanced as PSG plans to apply its versatile platform to their portfolios and improve back-end reporting and management systems while delivering the highest level of service. Visit the updated PSG website to learn more at www.portfolioservicesgroup.com  

About GreatAmerica Portfolio Services Group LLC

GreatAmerica Portfolio Services Group LLC (PSG) is a lease and loan service provider delivering outsourced third party and backup servicing solutions to banks, manufacturers/captives, independent lessors, and finance companies. Founded in 2010 as a subsidiary of GreatAmerica® Financial Services Corporation, GPSG delivers high-value third party portfolio services through their superior operational platform and customer-focused teams. This enables clients to achieve greater success by reducing costs, creating operational efficiencies, and concentrating on core strengths while maintaining control of their customers.  www.portfolioservicesgroup.com 

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News Briefs

See Where Home Prices Are Rising
    and Falling the Most
https://www.wsj.com/economy/housing/home-prices-2025-charts-housing-market-391e10cf?st=nSHw9F&reflink=desktopwebshare_permalink

Trump claimed US doesn’t do ‘much business with Canada’
    -- Canada is the world’s top buyer of US exports
https://www.yahoo.com/news/fact-check-trump-claimed-us-195239917.html

Buy American? No Thanks, Europe Says
    as Tariff Backlash Grows
https://www.nytimes.com/2025/05/05/business/tariffs-europe-boycott-american-goods.html

House Bill Would Rescind $3.1 Billion from
    Transportation Equity Grants
https://www.smartcitiesdive.com/news/house-republicans-rescind-reconnecting-communities-equity-grants/747089/

Florida will ban water fluoridation amid battle
    between public health, personal freedom
https://www.npr.org/2025/04/30/nx-s1-5382368/florida-fluoride-ban-water

The REAL ID Deadline Is Really Here
    Here’s What It Means for You"
https://www.wsj.com/lifestyle/travel/real-id-travel-explained-850329ab?st=WkctTL&reflink=desktopwebshare_permalink

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PwC lays off 1,500 U.S. employees - And they’re calling
    it “thoughtful”. Let’s get real
https://www.linkedin.com/posts/ivestay_big-four-accounting-firm-pwc-to-slash-about-activity-7325304843340828672-fSDx

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Sports Briefs---

NFL insider predicts 49ers will make Brock Purdy
    the NFL's 2nd highest paid QB
https://www.sfgate.com/49ers/article/49ers-brock-purdy-contract-nears-deal-20311552.php

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California News Briefs---

Blindsided': Press Democrat staff stunned as hedge fund     
    takes over Santa Rosa newspaper
https://www.sfgate.com/bayarea/article/press-democrat-hedge-fund-takes-over-20307594.php

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Gimme that Wine

 

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

Jordan Vineyard & Winery Unveils 2022 Jordan Sauternes
   in Collaboration with France's Château Guiraud
https://www.winebusiness.com/news/article/301639

US Cabernet Drinkers Trade Down
https://www.wine-searcher.com/m/2025/05/us-cabernet-drinkers-trade-down

Wine Accounts for Over Half of EU Alcohol Exports
https://www.meiningers-international.com/wine/news/wine-accounts-over-half-eu-alcohol-exports

Bordeaux wine producers slash prices as
wealthy collectors stay away
https://www.ft.com/content/31b19d0b-2eb8-406c-ae6a-aa284caacd50