Monitor - March/April 2012

ASSOCIATION NE WS
NE W VENTURES

ELFA Issues Statement
on Obama’s Corporate
Tax Reform Proposal
William G. Sutton,
president and CEO of the
ELFA released a statement
in response to the Obama
Administration’s proposal
for corporate tax reform
that included: “Promoting
investment in productive
assets and ensuring the
maximum flexibility of
financing options for
asset acquisitions and
business expansion are
essential to creating the
right environment for
positive investment in
equipment and growth
of our economy. Within
the context of tax
reform, capital formation
incentives need to remain,
and the ability to acquire
capital equipment should
not be adversely affected.”
board of directors, with
Rosanne M. Wilson,
CLP, 1st Independent
Leasing, serving as
president. Vicki L.
Shimkus, CLP with BSB
Leasing is VP; D. Paul
Nibarger, CLP, Nibarger
Associates, is secretary;
and John G. Rosenlund,
CLP, Portfolio Financial
Servicing Company, is
treasurer. Their terms
run from January
31, 2012 through
December 31, 2012.

WELLS FARGO CAPI TAL FINANCE launched its Channel Finance division, which will provide worldwide channel financing solutions to resellers, distributors and vendors in the technology industry. Based in Englewood, CO, John Schmidt and Mike Gallagher, former managing partners at Castle Pines Capital (CPC), which was acquired by Wells Fargo in 2011, will lead the Channel Finance division of Wells Fargo Capital Finance.

Through the channel financing programs, resellers, distributors and vendors in the technology industry will have access to customized working capital and extended terms financing solutions to increase sales and grow their businesses.

“Because the management team at CPC developed a strong relationship with Wells Fargo Capital Finance over several years, the integration of our businesses has resulted in an even stronger channel finance product offering,” said Schmidt, senior managing director of the Channel Finance division of Wells Fargo Capital Finance. “With a highly automated and fully integrated servicing platform, we have the technology, tools and experience to drive efficiencies in the supply chain. By combining our entrepreneurial excellence and successful business model with Wells Fargo’s strength, stability and comprehensive set of products and services, we’re well-positioned to help technology companies succeed.” n

and Jeff Collins will serve as Northpoint’s CFO, CRO and SVP of Operations, respectively.

CLP Foundation Announces 2012 Board of Directors The CLP Foundation announced its 2012

CFA Launches CEO Search The Commercial Finance Association (CFA) launched a nationwide search to find a new CEO. CFA president Bruce Sprenger appointed the CFA’s first VP Michael Haddad to oversee the search process. The executive search firm JDG Associates of Rockville, MD was retained to conduct the search.

Perella Affiliate,
Others Form Northpoint
Commercial Finance
Perella Weinberg Partners
and Northpoint Commercial
Finance said that Perella
Weinberg Partners’
Asset Based Value
strategy partnered with
a team of experienced
industry veterans to form
Northpoint Commercial
Finance, a diversified
non-auto inventory finance
lender. Dan Radley, who
previously served as EVP
of Textron Financial’s
distribution finance
business, will serve
as president and CEO
of Northpoint. Former
Textron distribution
finance group executives
Steve Culp, Brian Courtney

Balboa Launches Vehicle
Vendor Finance Program
Balboa Capital hired
five professionals
for its newly formed
commercial vehicle
vendor financing team.

Jack Hirsh, Jim Bryan, Brian McDermott and Richard Parker are regional managers, and Wayne Pass is credit manager in Balboa Capital’s Vendor Services Group. Phil Silva, Balboa president, noted that this is the right time to enter the specialty vehicle space.

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