David Schaefer named new ELFA chair

The Equipment Leasing and Finance Association (ELFA) has named David Schaefer, CEO of Mintaka Financial, as its new chairman, while Jud Snyder, president of BMO Harris Equipment Finance Company, is now chairman-elect.

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.

He is the co-founder and chief executive officer of Mintaka Financial, established in 2004 as an investment vehicle to fund small-ticket commercial equipment loans and leases.

In addition, 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, and with the Equipment Leasing & Finance Foundation, 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, among a number of other appointments

ELFA President and CEO Ralph Petta said: “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.”

Schaefer said: “Our industry continues to evolve and adapt to the changing market for capital equipment acquisition.

“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. ELFA is the industry leader and a major force on these and other important industry issues.”