New Hires/Promotions in the Leasing Business
and Related Industries

Megan Eddings was hired as Senior Account Manager, Amur, Grand Island, Nebraska, Senior Account Manager. Previously, she was at Fleet Lending Solutions, joining June, 2017, Outside Sales and Customer Service Manager, promoted Vice President of Sales, January, (2021 - October, 2024).
https://www.linkedin.com/in/megan-eddings-2788b0189/

 

Lee Ritter, CLFP, was announced in a press release as Sales Business Development to the Financial Team of KLC Financial, Minneapolis, Minnesota. He joined KLC July, 2024. He is located in Walled Lake, Michigan. Previously, he was Owner Lakes Area Consulting, Self-Employed (December, 2023 - Present); Owner, Temporary Wall Systems, Farmington Hills (2023 - Present). He joined
Channel/Your Partner in Funding October, 2021, as Director
of Sales, West, promoted Senior Vice President of Sales, West (January, 2023 - November, 2023). Full Bio:
https://www.linkedin.com/in/lee-ritter-clfp-6078868/details/experience/
https://www.linkedin.com/in/lee-ritter-clfp-6078868/

Megan Young was hired as Business Development Representative, Monster Connect, Indianapolis, Indiana.              She is located in the Salt Lake City Metropolitan Area. Previously, she was Sales Development Representative,  (November, 2020 - July, 2022); National Account Manager, AvTech Capital (March, 2019 - September, 2020); National Account Executive, Onset Financial (January, 2018 - March, 2019). Full Bio:
https://www.linkedin.com/in/megan-young-monsterconnect/details/experience/
https://www.linkedin.com/in/megan-young-monsterconnect/

 

[headlines]
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Survey Finds Small-Business
Confidence on Upswing
By John Reosti, American Banker

Small businesses are bullish about their prospects and place a high degree of trust in their primary bank, but a surprising number, about one in four, report being cash- or capital-constrained, according to a new survey by American Banker.

The research, scheduled to be released Oct. 31, included responses by 300 small-business owners. It indicated more than a third of smaller firms, those with two to nine employees, were experiencing cash issues. The level of concern was lower among more sizable small businesses but was still significant. The average for all respondents was 27%.

The situation could point to an opportunity for banks and other small business lenders.  American Banker's survey found the majority, 81%, of small businesses reported being profitable with an even higher proportion, 88%, feeling very optimistic or somewhat optimistic about the future of their companies.

Another recent survey, the National Federation of Independent Businesses' monthly optimism index, was more mixed. The index rose three-tenths of a percentage point in September, reaching a 91.3 score, though the figure remained well below the 50-year average score of 98.

But American Banker's results align closely with a Bank of America survey released Wednesday that showed 78% of small-business owners participating expected increased revenues, while 63% were planning to expand.

Adam Stockton, Head of Retail Deposits at the New York-based bank data firm Curinos, said in an interview, “That growing confidence is translating into increased demand.

"We've seen an increase in applications across most small business loan and line products," Stockton said, citing lower inflation and falling interest rates as two of the trend's drivers.

The cash constraints small business owners bemoaned in American Banker's survey may be traced in part to the fact demand for credit is outstripping the supply, according to Stockton.  "Businesses are maybe a little more willing to act on that optimism more quickly," he said. "Banks are, perhaps understandably, a little more conservative."

"There are going to be opportunities for banks to expand lending, particularly where you can find pockets that are lower risk, or for banks that believe more strongly we'll get there from an economic perspective," Stockton said. "If we do, those that [moved] early, we've seen in the past, have a meaningful advantage."

[headlines]
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Leasing and Finance Industry Help Wanted
Better Opportunity, Benefits, Support

Working Niche Marketplaces
By Kit Menkin

Successful companies and sales originators find a following in niche markets. While the pandemic may have brought more people working from the telephone, niche markets can still be created.  Certainly attending a trade show is beneficial, given the number of manufacturers or distributors that are in one place.

While the major industries are hard to break into, there are lots of smaller markets that congregate in trade shows so, that if you look for gatherings in almost any industry you may be surprised by what you find.

When the weather is good, I liked to work auctions, especially machine shop auctions, where smaller companies could use the equipment for the smaller runs, always in demand. I always brought a lot of business cards and most often also put flyers of the parked car front windows.

I not only learned a lot about the machinery, and the people who owned and worked there, but also met the auctioneers. I even wound up leasing equipment and signs to them, as well as working out pre-approvals at auctions after my client won the bid.

One of Leasing News advisors'  company dominates the church market. They lease everything from organs to pews. His company has leased them school buses, PA systems, video equipment and computers. Once you are a member of the “pact,” you are not only respected, but get referrals for your specialty service.

Consider your hobbies or previous employment as giving you knowledge about a product.  Many leasing sales people started out selling a product, from copiers, office supplies, machinery, and they learned leasing sales and decided there was more money in it, specializing in products that they know. You can also find these products and other information (not only from the articles or announcements, but online from the advertising in trade magazines.)

Look online for local businesses and see if you can build a niche from an industry particular to where you live.

I also consider joining private clubs and organizations, like the chamber of commerce. Being a Kiwanis club member not only allowed me to make friends and meet and learn from speakers, but become a speaker myself at other local Kiwanis clubs.  I started leasing automobiles so had that as the top subject along with equipment leasing. Ironically, I didn’t get many vehicle leads, but I did many dental, doctor, and other member leases by being a speaker as a member of the club.

I considered joining a Niche as it leads to more sales and even bank relations where I also got leads, too. There are other clubs like Lions and Rotary. I suggest visiting them.  Google search for the clubs near you and first see if they will take you as a speaker, and if not, take the time for having breakfast or lunch with one as a guest. Not dinners, too much drinking, in my opinion. I found them a different bunch than breakfast or lunch.

[headlines]
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Commercial Finance/Leasing Finance
Conferences and Forums – Updated

Oct. 27-29: 63rd ELFA Annual Convention, Austin, TX           
-------  Join 1,000+ at ELFA Annual Conference -----
Check out the Industry Breakout Sessions on Monday and Tuesday
https://www.elfaonline.org/education-networking/2024/annual-convention/schedule
Full Education Session Lineup
https://leasingnews.org/archives/Sep2024/09_09.htm#elfa
Bruce Kropschot, Senior Managing Director, The Alta Group, will be covering the ELFA Convention, as he has done for Leasing News for many years.

 

Nov. 6, 2024, Brokers Expo, New York City
https://thefundersforumbrokerexpo.com/ny/agenda  Daymond John of the Shark Tank is behind this group. A lot of investor friends involved in funding leasing and finance transactions.
https://leasingnews.org/archives/Feb2023/02_14.htm#expo        
Shark Tank's Kevin Harrington To Speak at Brokers Expo https://leasingnews.org/archives/Oct2024/10_09.htm#shark

Nov. 11-14: NEFA Fall Conference, Indiana
Special Registration for members and those who will come one by November 11th, Plus Speakers.
And programs
Register as Member or Non-Member:
https://myemail-api.constantcontact.com/Join-Us-at-Brokers-Expo-NYC---You-Don-t-Want-to-Miss-This.html?soid=1133130637774&aid=wV4AHtx4SMIpolis, Indiana
Vicki Shimkus, CLFP, Balboa Capital, Broker Relationship Manager, will be covering the conference for Leasing News readers.
To be listed or update: kitmenkin@leasingnews.org

Nov. 13-15 SFNet's 80th Annual Conference, Houston,
---Join us where industry movers, shakers and
decision makers meet to accelerate growth - Full Info
https://www.sfnet.com/home/events/event-detail/2024/11/13/default-calendar/sfnets-80th-annual-convention

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Top Ten Most Read by Readers
October 7 to October 11

(1) New Hires/Promotions in the Leasing Business
and Related Industries
https://leasingnews.org/archives/Oct2024/10_07.htm#hires

(2) New Hires/Promotions in the Leasing Business
and Related Industries
https://leasingnews.org/archives/Oct2024/10_11.htm#hires

(3) New Hires/Promotions in the Leasing Business
and Related Industries
https://leasingnews.org/archives/Oct2024/10_11.htm#hires

(4) NVLA Cancels 2024 Conference
Due to Hurricane Milton
https://leasingnews.org/archives/Oct2024/10_11.htm#nvla

(5) You Become What You Attract
Sales Make it Happen by Kit Menkin
https://leasingnews.org/archives/Oct2024/10_07.htm#you

(6) Lessons Learned
By Scott Wheeler, CLFP
https://leasingnews.org/archives/Oct2024/10_07.htm#lessons

(7)  Phone14 or later Satellite Connection
    When Off the Grid with No Coverage
https://leasingnews.org/archives/Oct2024/10_11.htm#iphone

(8) Financing Cannabis Funding Sources
     Many Work with Third Party Originators

1. https://leasingnews.org/archives/Oct2024/10_09.htm#cannabis2

(9) Major Commercial Finance/Leasing
Conferences
https://leasingnews.org/archives/Oct2024/10_07.htm#conf

(10) ELFA Welcomes New Members
  Existing members have access
to the full information
https://leasingnews.org/archives/Oct2024/10_11.htm#elfa

[headlines]
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Following an outstanding CLFP Day, we are pleased to announce the 2024 Cindy Spurdle Award of Excellence Winner, Leonard Lane, CLFP!

The Cindy Spurdle Award is one dedicated to recognizing a CLFP in Good Standing who has contributed most to the CLFP Foundation and the industry for the current year.

Leonard embodies the CLFP mission of building a better industry in all he does. His joy of helping others, willingness to instruct ALFPs and HBCU classes, kindness to CLFP candidates and CLFPs alike, and all-around passion for the designation are incredible. He dedicated many hours to fulfilling a longtime Foundation goal of creating an Audiobook version of the CLFP Handbook which will serve CLFP candidates for years to come. The amount of support and joy Leonard brings to our community is exceptional. Join us in congratulating Leonard!

 

[headlines]
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##### Press Release #######################

Dext Capital Relocates to New
Office Space to Support Rapid Growth

Lake Oswego, OR. — Dext Capital has announced the relocation of its headquarters to 5500 Meadows Road, Suite 300, in Lake Oswego, Oregon.

Located in the heart of Lake Oswego’s business district, the new office will provide employees with improved facilities and access to modern workspaces designed to foster creativity and collaboration. As Dext Capital continues to enhance its service offerings, the expanded space will play a pivotal role in supporting the company's next phase of growth, innovation and service.

 

Lana Kralik, CLFP  - Senior Operations Director, said, “We’ve seen tremendous growth over the past few years, and our new office reflects our commitment to investing in both our team and our clients.

"It’s an exciting time for us, and we look forward to the new opportunities this space will bring.” 

For more information on Dext Capital and its
new Dext "Wheels" Channel, please visit [website].
Linkedin: https://www.linkedin.com/company/dext-capital/
Instagram: https://www.instagram.com/dextcapital/
Tiktok: https://www.tiktok.com/@dextcapital

 

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

News Briefs

Used EVs Sell for Bargain Prices Now
   Putting Owners and Dealers in a Bind
https://www.wsj.com/business/autos/used-evs-sell-for-bargain-prices-now-putting-owners-and-dealers-in-a-bind-a44e1718

 

True Value declares bankruptcy, Stores to Stay
Open as it sells itself  to a hardware rival
https://www.cnn.com/2024/10/14/business/true-value-bankruptcy/index.html

 

Boeing strike has already cost the company
and workers $5 billion, new analysis shows
https://www.cnn.com/2024/10/13/business/boeing-strike-one-month-five-billion-dollars/index.html

Monsanto will pay Los Angeles $35 million to
settle lawsuit over contaminated waters
https://www.courthousenews.com/monsanto-will-pay-los-angeles-35-million-to-settle-lawsuit-over-contaminated-waters/

 

Google Backs New Nuclear Plants to Power AI
To Start Bringing Online in the U.S. by 2030
https://www.axios.com/2024/10/14/google-nuclear-deal-power-ai
                      

 

Rising disaster costs leave U.S. confronting
fiscal risks of climate change
https://www.washingtonpost.com/business/2024/10/12/us-disaster-funding-cost-climate-change/

[headlines]
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The deflation breakdown for
September 2024 — in one chart
https://www.cnbc.com/2024/10/11/deflation-inflation-cpi-september-2024-in-one-chart.html

[headlines]
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Sports Briefs---

49ers’ Ricky Pearsall practices for first time
    since San Francisco shooting
https://www.eastbaytimes.com/2024/10/14/49ers-ricky-pearsall-practices-for-first-time-since-san-francisco-shooting/

Former Major League Baseball sluggers differ on
   A’s move to Sacramento. What they said
https://www.sacbee.com/news/local/article293961839.html

How Roger Goodell Became the N.F.L.’s
$20 Billion Man
https://www.nytimes.com/2024/10/12/business/roger-goodell-nfl.html

[headlines]
--------------------------------------------------------------

California News Briefs---

Popular Tahoe ski resort won’t be open this
   upcoming winter season. Here’s why
https://www.sacbee.com/news/local/article293909259.html

[headlines]
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Gimme that Wine

 

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

Top Sonoma County wines revealed at
      Harvest Fair gala
https://www.pressdemocrat.com/article/lifestyle/harvest-fair-wine-winners/

Jordan Winery beckons public to ‘haunted’
chateau for new tasting
https://www.pressdemocrat.com/article/lifestyle/jordan-winery-halloween-tour-party/

 

 

Costco Kirkland Signature Vs Trader Joe's Charles
Shaw: Which Is The Better Value Cabernet Sauvignon?
https://www.tastingtable.com/1684432/costco-vs-trader-joes-wine/

Growers consider removing vineyards as
wine consumption declines
https://abc30.com/post/growers-consider-removing-vineyards-wine-consumption-declines/15419172/

Wine Women Celebrates its First Scholarship
Recipient, Rosa Fierro
https://www.winebusiness.com/news/article/293738

 

 

Wine Prices by vintage
http://www.winezap.com
http://www.wine-searcher.com/