Seattle, October 15, 2019 — Mintaka Financial, LLC, a commercial finance company based in Washington State, has acquired Phoenix, Arizona-based Summit Commercial Finance Company.

The deal comes as part of Mintaka’s strategy to form closer relationships with origination channels, to better understand customer and vendor needs.

Summit has long standing vendor relationships, as well as direct relationships with commercial borrowers. Mintaka has historically originated all transactions through its affiliate network. With the acquisition of Summit, Mintaka will benefit from direct relationships with Summit’s vendor channel affiliates and the ability to develop more competitive products to borrowers.

Summit and Mintaka have a longstanding relationship with shared ownership. Summit Commercial Finance president and CEO Scott Forrest is enthusiastic about the development. “I believe the synergy of our two great teams will provide superior service for our customers and enormous opportunity for our employees and partners. Operating under a stronger parent company provides the resources to drive market share with the flexibility to expedite funding more efficiently for our customers. The direct lending capabilities are significantly enriched meaning expanded products and better terms for the borrowers.”

Mintaka president Quentin Cote concurs. “This is the culmination of an extremely close relationship … this deal enables us to be closer to the customer and better understand the market, ultimately leading to more competitive offerings. In addition, our ability to dedicate additional sales and marketing resources towards deeper vertical market penetration means growth for our company and more value for our investors.”

About Summit Commercial Finance

Summit Commercial Finance LogoFounded in 1998, Summit Commercial Finance provides customized equipment financing and leasing options to U.S. companies across a wide range of industries including specialized focus in several select verticals including C-store, dental/medical and recycling. More information about Summit Commercial Finance can be found at

About Mintaka Financial

Mintaka Financial LLC is a commercial finance company specializing in serving the needs of small businesses across the United States. Mintaka provides equipment leases and loans, originated through a select group of small business finance companies chosen for their experience, reputation in the industry, and dedication to building long term relationships with their small business clients. Partners benefit from Mintaka’s best-in-class technology, deep industry expertise, and instant quoting capabilities. Mintaka has offices in Seattle, Phoenix, and Boston.

President of Mintaka Financial, Quentin Cote was featured in the July 2019 Monthly Confidence Index on Equipment Finance Industry (MCI-ELI) survey, representing independent, small ticket lessors.   

Independent, Small Ticket
“I’m optimistic because low unemployment should be leading to increased wages and consumer spending, which should continue to drive the economy. I’m concerned about delayed impacts of trade wars negatively affecting product prices and stanching demand for capital and consumer goods.”Quentin Cote, CLFP, President, Mintaka Financial, LLC

By collecting data from leadership in equipment finance, the report reviews current conditions and future expectations of the equipment finance market – reporting an increase of half an index point from June 2019. 

Click here to read more, and the full July report here.

President Quentin Cote participated in the Equipment Leasing and Finance Foundation’s 2019 Industry Future Council that convened this past February to create the 2019 IFC Report, Embracing Innovation – Positioning Your Business for Future Success.

A subgroup of members of the Equipment Leasing and Finance Foundation, the Industry Future Council is comprised of finance industry executives and meets annually to deliver a report on the future of the industry.

The 2019 IFC Report Embracing Innovation – Positioning Your Business for Future Success, focuses on how finance companies and other small businesses should take steps to adopt intentional innovation into their everyday business practices to promote a culture that helps create the future and doesn’t simply adapt to it.

Click here to read the full 2019 IFC Report.

Mintaka Financial, LLC is pleased to announce the addition of Brandon Echevarria to the Credit team. As a Credit Analyst, Brandon will report to COO, Bill Fogarty to assist in growing and servicing both partner and vendor lease and finance programs, while monitoring Mintaka’s exposure in order to remain in line with their desired risk tolerance.

“Brandon comes to Mintaka with a wealth of equipment finance credit and process experience, most recently from an established originator, and we are ready to put it to work for our Credit team,” said Quentin Cote, President of Mintaka Financial. “We look forward to leveraging his insight into the current state of the industry to continue to improve our overall product and customer experience.”

“We’re confident that Brandon’s deep skill set, ambition and dedication will bring Mintaka to a new level of service and quality for its partners and small business customers,” added Bill Fogarty, Chief Operating Officer of Mintaka Financial.

Brandon earned his B.S. in Finance at Bentley University where he participated in the Bentley Trading Society and intramural football and basketball. A resident of Marlborough, MA he enjoys golf and fitness in his down time.

“It is a great opportunity to be a part of the expert credit staff at Mintaka,” said Brandon Echevarria. “I look forward to helping grow their unique partner program in order to deliver the highest level customer experience for the partner originators, vendors and the end user alike.”

Quentin Cote, President of Mintaka Financial starts his second year on the ELFA’s Small Ticket Business Council Steering Committee. The Small Ticket BCSC is one of five primary constituent bodies integral to the ELFA’s operations; providing critical input on the direction of the association and serving as a bridge between the membership and the Board of Directors and staff.

The Small Ticket Business Council Steering Committee represents financial services organizations primarily involved in transactions under $250,000, either individually or through lines. The committee analyzes the needs of companies in its segment and recommends to the Board how to meet those needs.



Click here to see the full roster of Business Council Steering Committee members.

CEO of Mintaka Financial, David Schaefer had the honor of delivering the 2018 Chairman Address as one of his final acts as the Chairman of the Board of Directors of the ELFA. Watch his speech below:

2018 Chairman Dave Schaefer reported on the state of the industry – “Perseverance is Key”

He highlighted the association’s influence on a number of industry milestones. For example, a major advocacy effort by ELFA positively impacted the direction of the new lease accounting standard, and the association’s advocacy on recent tax reform legislation benefited members. “Thanks to ELFA’s advocacy efforts, the tax measure preserves important incentives designed to promote equipment acquisition,” he noted.

In recounting the history and resilience of the industry, Schaefer shared some of his own personal history. He revealed that in the late 1970s his father was taken hostage by Iran and held for 444 days. “This shaped me forever as a person,” he said. “I don’t allow myself to have a bad day because I know that people deal with really bad situations and I appreciate every day of my life. I also learned to appreciate perseverance.”

Schaefer said his appreciation of perseverance reappeared two decades later he launched his company Orion First Financial on Oct. 1, 2001, in the wake of 9/11 terrorist attacks. “It felt like the economy was crumbling down around us, and here I was launching a new business!” he recalled. “This was another lesson in perseverance. When we are faced with a great challenge, our determination and grit can be our most important assets.”

He acknowledged that many in the industry have faced challenges with grit. “I know many of you in the audience have faced adversity in your businesses and persevered to be here today. When we talk about our industry emerging and excelling, it is a testament to our ability to face challenges head on, adapt to change and discover new opportunities and solutions.”

After reviewing the evolution of the industry, Schaefer moved on to the second prong in the Convention theme: What’s emerging in the industry.

He spotlighted the changing customer experience, pointing to customers’ new mindset toward usage rather than ownership of equipment; the “uberization” of assets, or utilizing assets by sharing them; and increased demand for bundled services and enhancements. He observed, “For consumers it’s all about convenience: their desire to have access to what they want, when they want it.”

At the same time, equipment finance organizations are becoming more flexible, with employees working remotely, so they are attracting talent without geographic restrictions. “This digital age—of connecting people to your company—is where change is coming from and where the value is.”

Finally, Schaefer examined the third prong of the convention theme: What it means to excel for your employees, your companies and your customers.

He stressed that continuous improvement should be the top priority. “As individuals we should be constantly learning, looking for other successful people and watching what they’ve done,” he advised. He added that leaders need to learn how to get out of the way, to delegate and to allow others to grow.

Focusing on the customer is key, said Schaefer, emphasizing that companies need to offer quality products, deliver a great customer experience, provide value and anticipate the customers’ needs. “We have to be thinking about new products and solutions in advance of the customer even knowing he or she needs them,” he said.

He concluded by noting that the equipment finance industry touches every aspect of the economy. “We provide the capital that drives supply chains across every industry. We enable companies to acquire equipment and employ individuals, so they can support their families and their communities. The healthy flow of commerce and capitalism is good for our communities—and it’s good for our country. I hope you think about the value we create, and that you’re proud to be a part of that.”


david schaefer

David Schaefer, Chairman of ELFA and CEO of Mintaka Financial and Orion First, discusses the shift in equipment finance towards leveraging the core strengths of third party service providers to boost business.

As a leader in both an equipment finance company, Mintaka Financial, and a third party lease and loan portfolio servicing company, Orion First, David witnesses the shift first hand and urges finance company leaders to consider its benefits for their business.



“There’s a bit of a renaissance going on. Equipment finance companies are focusing more narrowly on what they do best and reassessing how they do everything else.”


Read the complete article here.

Explore the entire ELFA May/June 2018 issue here.


Zack Marsh, CFO of Mintaka Financial was quoted in the ELFA Magazine’s May/June issue cover story. Alongside the select handful of industry professionals chosen to start the ELFA Emerging Talent Advisory Council (ETAC), Zack advises the the next-generation workforce with his tips for guiding a new career towards success.

Through the experience from his own career journey, Zack identifies the unique value that an Executive Coach can provide and shares these insights in this article.

As Chair Emeritus of the ETAC, Zack will talk about executive coaching this summer at Emergence2018; a two-day event to develop the industry’s emerging leaders by helping them consider the steps they can take to grow their careers and provide greater value to the industry.


“Focusing on goal-setting and where you envision yourself can help you set your sights on what it will take to get there.”


Read the complete article here.

Explore the entire ELFA May/June 2018 issue here.


“ELFA’s new Chair brings broad experience and entrepreneurial know-how to the role”


david schaefer

Dave Schaefer CEO of Mintaka Financial was featured in a welcome article in the January/February 2018 issue of the ELFA Equipment Leasing and Finance magazine! Appropriately covering the State of the Industry for 2018, Dave begins his term as the Chairman of the Board of Directors amidst an uncertain regulatory climate, yet is ready for what’s ahead in his new leadership role.

Read Dave’s featured article here!

Explore the entire ELFA Magazine January/February issue here


About ELFA

The Equipment Leasing and Finance Association (ELFA) is the trade association that represents companies in the $1 trillion equipment finance sector, which includes financial services companies and manufacturers engaged in financing capital goods. ELFA members are the driving force behind the growth in the commercial equipment finance market and contribute to capital formation in the U.S. and abroad. Its 580 members include independent and captive leasing and finance companies, banks, financial services corporations, broker/packagers and investment banks, as well as manufacturers and service providers. For more information, please visit

January 8, 2018 EVP of Mintaka Financial Quentin Cote, visited Washington DC to attend the US Chamber of Commerce presentation on the State of American Business, where they laid out the agenda of the US Chamber of Commerce for the upcoming year.

Tom Donohue, CEO of the Chamber of Commerce and Keynote Speaker is optimistic about the current State of Business in the United States; we are ready to plow ahead and move forward, as long as we focus on growing the total economic pie, and not simply slicing the pieces differently.


Growing American Business in 2018

Some of the opportunities discussed for American business growth in 2018 were:

  1. Focus on America and the American workforce
  • Modernizing US infrastructure, i.e. roads, bridges, seaports, airports, water supply systems, pipelines, energy grid, etc. brings valuable short term employment boost while investing in the country’s future.
  • Consistent regulation reform is needed to promote growth in the energy, labor, and financial sectors. The Regulatory Accountability Act will create higher hurdles for passing future regulation, and more advocacy at the State level will help ensure States don’t rush to fill the regulatory void left by the Fed.
  • Education reform should teach students how to learn in order to promote lifelong skills-growth led by business needs.
  • With baby boomers leaving the workplace and taking their skills with them, the demand for qualified workers is increasing. Expanded apprenticeships are necessary, and higher education should better align itself with the employment needs and solutions set by industry.
  1. Reform immigration policy
  • Both the 690K Dreamers and the 200+K TPS workers who’ve been here for 20+ years should be allowed to stay and continue contributing to the economy.
  • We should not deport 1+ million legally employed foreign workers, or prevent the 30+K spouses of highly-skilled foreign workers from legal employment and contributing to the economy.
  1. Embrace technology to support growth
  • Continue to promote and facilitate widespread internet access.
  • Protect from anti-tech backlash while safeguarding businesses and consumers against hazards like cyber attacks and intellectual property theft.
  • Broaden financial investment in fast-growth startups, currently seen only on the coasts, to middle America.

While a positive outlook for our economy can breed greater trust and optimism for the future of American business, it is vital to be aware of the looming threats to business growth in the US to understand how to protect against them. Both macro and micro threats risk derailing the “pro-growth” agenda by further segmenting the American political and social spectrums, and diverting attention away from positive growth opportunities.

 Macro Threats to American Business Growth in 2018:
  • Protectionism (i.e. overturning NAFTA)
  • US Debt Default
  • Global risks
 Micro Threats to American Business Growth in 2018:
  • Workforce dislocation due to manufacturing shutdown
  • Massive student debt burdening an entire generation who are unable to get good jobs after graduation
  • Political extremes, like populism and socialism demand too much influence and we need to rebuild the middle of the political spectrum
About Mintaka Financial

Mintaka Financial LLC, located in Gig Harbor WA, was established in December 2004, as a commercial finance company specializing in serving the needs of small businesses across the United States. Mintaka provides equipment leases and loans, originated through a limited group of independent small business finance companies that share ownership in Mintaka. These companies are specialists in small business credit service, selected to participate in the Mintaka program based on their experience and reputation in the industry, and their dedication to building long term relationships with their small business clients. To learn more about Mintaka, please call (888) 705-8778, ext. 1097 or visit