During the 56th annual convention of the Equipment Leasing and Finance Association, the association named its new board of directors and officers who will serve during the next 12 months. David T. Schaefer, CEO of Mintaka Financial, was appointed the new chairman of the board and Jud Snyder, president of BMO Harris Equipment Finance Company, is now chairman-elect. The chairman-elect and new board members were recommended by the ELFA’s nominating committee and approved by a vote of the general membership.

Schaefer has more than 30 years of experience in the commercial equipment finance industry, including senior management responsibility for treasury, operations, information technology, accounting and portfolio management. Along with his role as CEO of Mintaka Financial, he is a co-founder of the company, which was established in 2004 as an investment vehicle to fund small-ticket commercial equipment loans and leases. His leadership position with Mintaka includes strategic development, capital formation and developing a network of affiliate partners and vendor programs that originate transactions.

Schaefer is also the founder and CEO of Orion First Financial, a loan and lease servicing company that provides underwriting, contract servicing and collection services to banks, captive finance companies and independent financial institutions. Prior to establishing Orion, Schaefer was president, CEO and a member of the board of directors of Financial Pacific Company. He founded Checkmate Certified Collections, a consumer and commercial collection agency, in 1975.

An active participant in ELFA, Schaefer has served on the ELFA board of directors for the past decade as a director and vice chairman and as chair of the board’s Working Group on Electronic Documents. He also served as chair of the LeasePAC Committee in 2014, representing the industry’s federal political action committee; as board liaison to the Small Ticket Business Council Steering Committee from 2008 to 2012 and as chair of the committee from 1999 to 2000; and as a member of the membership committee from 1998 to 2000.

Schaefer also has been active with the Equipment Leasing & Finance Foundation. He has participated in the Industry Future Council, an annual meeting of industry executives exploring trends, challenges and opportunities in the equipment finance sector. He has contributed to foundation research studies, including Digital Documents, and supported the foundation as an individual and corporate donor.

Outside of ELFA, Schaefer has served on the board of directors of the United Association of Equipment Lessors, now the National Equipment Finance Association. He obtained his Certified Leasing and Finance Professional (CLFP) certification in 1996.

“We are extremely fortunate to have Dave Schaefer as chairman of the board of directors for 2018,” said ELFA President and CEO Ralph Petta. “Dave has been a valued member volunteer for many years, and his extensive industry experience and dedication to our association will help ELFA move forward in fulfilling our mission in support of our members in the year ahead.”

“Our industry continues to evolve and adapt to the changing market for capital equipment acquisition,” Schaefer said. “Federal tax reform is currently under discussion. Regulatory oversight related to commercial enterprise continues to grow. Attracting and developing human capital are required to sustain and grow our industry. The Equipment Leasing and Finance Association is the industry leader and a major force on these and other important industry issues. I am honored to serve as ELFA Chairman and to work together with the staff, the Board of Directors and the multitude of volunteers who make our association so valuable.”

Along with Schaefer’s appointment, the newly elected members of the ELFA board of directors include:

• Jennifer Coyle, division director of Corporate Asset and Finance Resources for Macquarie Corporate and Asset Finance
• Brett Davis, president of CNH Industrial Capital
• Dave Fate, president and CEO of Stonebriar Commercial Finance
• Amy Nelson, president of Global Healthcare & Clean Technology for DLL
• Daniel Nelson, president of Tamarack
• Alan Sikora, CEO of First American Equipment Finance, a City National Bank company

The following individuals were elected by the membership to serve as ELFA Vice Chairs: Martha Ahlers, vice president and COO of United Leasing & Finance, Larry Smilie, managing director of Banc of America Leasing and Kris Snow, president of Cisco Capital. Robert Boyer, president of BB&T Commercial Equipment Capital will serve as Treasurer. Paul Stilp, ELFA’s chief financial and operating officer, will serve as secretary. Anthony Cracchiolo, president and CEO of U.S. Bank Equipment Finance, is immediate past chairman.

Other members of the Board are:

• Michael Campbell, CEO of International Decision Systems
• Aylin Cankardes, president of Rockwell Financial Group
• James Cress, vice president and general manager of Stryker Flex Financial
• Lori Frasier, senior vice president of Strategy and Performance Management for Key Equipment Finance
• David Gilmore, senior vice president of Region 4 for John Deere Financial
• Brian Holland, president and CFO of Fleet Advantage
• Marjorie Krumholz, partner at Thompson Coburn
• Matthew LeSage, CCO at Wells Fargo Equipment Finance
• Gary LoMonaco, vice president and treasurer of Forsythe/McArthur Associates
• Brian Madison, president of Trinity Industries Leasing
• Robert Neagle, president of Merchant Finance for Ascentium Capital