Maxim Commercial Capital added Lyndon Elam as chief operating officer and Donald Cosenza as senior vice president of business development while steadily navigating the volatile economy during 2025.
“We began 2025 with an aggressive plan to invest in our most valuable asset, our people, and we are pleased to announce the expansion of our executive and operating teams,” Michael Kianmahd, CEO of Maxim, said. “Both Lyn and Don have tremendous experience, exceptional energy and strong leadership skills to help propel Maxim into 2026 and beyond. We also expanded our operations and accounting teams with skilled, growth-minded talent to support our vision to be the nation’s preeminent alternative lender to small and mid-sized businesses.”
Keys to Maxim’s success over its 17-year history include its steadfast commitment to funding non-prime customers, including startups and those with challenged credit.
Creatively structured financings during the year included 100% purchase financing for a 20-year-old waste management company in New York with four trucks, and a pending $1 million contract to purchase a $200,000 2022 Isuzu FTR Diamond Truck outfitted for trash bin cleaning secured by a first lien on the newly purchased truck and the business owners’ home; a $110K real estate secured term loan to refinance $99,000 in high-rate MCA loans for the owner of a stone and garden retail store and landscaping business, reducing the borrower’s debt service by $2,400 per month; and a $42,000 title loan on a 2020 Peterbilt 567 Cement Mixer for an experienced contractor to fund repairs on a Class 8 Day Cab purchased at auction.
Class 8 truck financings during the year comprised loans and leases for experienced and startup owner operators in 41 states across the U.S. Representative fundings included: a $52,000 2021 Peterbilt 579 with 514,000 miles for 25% down for an owner operator with less than two years’ time-in-business, 725 FICO and charged off credit cards; a $29,000 2018 Freightliner Cascadia 125 with 560,000 miles for 25% down for an experienced owner operator with a 704 FICO and late mortgage payments; and a $42,000 2020 Freightliner Cascadia 126 replacement truck for 25% down for an existing customer with a 542 FICO, late on auto payments and collection accounts on credit cards who had totaled his previous truck.
“We are looking forward to deploying new credit guidelines in early 2026,” Elam said. “Our committed team is eager to offer a broader and deeper credit spectrum across heavy equipment verticals to benefit borrowers and our vendor and finance broker referral partners.”
