1. 30 • monitor • MAR/APR 2016
fied,” Macartney recalls. But instead of taking no for an
answer, Macartney did some research and found that
only 31 banks had signed up for the program. Going
one step further, Macartney and his team called each
bank to see if they would fund an individual owner/
operator who needed to replace a truck to comply with
the new California emissions standards.
“Every single one of them told us ‘no,’ they didn’t
do individual truck owners,” Macartney says. Seeing
that the program really would not achieve its goal if
participants were limited to the current banks that were
involved, the Crossroads team got to work. Macartney
flew back and forth from Sacramento, went to the board
meetings of different agencies and hired a lobbyist.
“In November of 2009 we got the law changed so
that if you had a California lenders license you could
become a participant,” Macartney says. Since that time,
Crossroads’ participation in the program has contrib-
uted more than $175 million in volume to the business.
Crossroads Small Business Solutions
After discovering many equipment finance clients had a
need for other types of financing, Crossroads set a new
goal in February 2013 to acquire a license to make loans
guaranteed by the U.S. Small Business Administration
(SBA). Thanks to Roxann Burns, now president of
Crossroads Small Business Solutions, and Crossroads’
legal team, Crossroads successfully purchased an
existing license and was approved for its transfer.
“If we think something is a good opportunity,
even if it takes us 30 months, we’ll keep working on
it until we get it done,” says Macartney. Crossroads
Small Business Solutions provides SBA loans for busi-
ness expansion and growth, including working capital,
equipment, commercial real estate, franchise financing
and business acquisition.
I
n 2006, Crossroads Lease and Finance began
with one employee in a 100 square foot office.
With about $500,000 in new business volume
originated in its home state of California, the new
venture operated at a loss during its first year in busi-
ness. Today, Crossroads has dramatically expanded
from its original focus of financing titled equipment
such as trucks, trailers and buses. Now operating on
a national scale, Crossroads Capital Group originated
$206.5 million in equipment-related volume in 2015
and employed 70 staff members.
Never Lose Hope
President Jeff Macartney attributes the company’s
success to its tenacity. “When we see a valuable oppor-
tunity, we don’t give up until we have taken advantage
of it,” he says. The California On-Road Diesel Program,
which provides a cash reserve to assist California-
based businesses that are upgrading trucks to meet
state BPA regulations, provides the first example of
Crossroads’ determination.
“We filled out an application, sent it in, and we were
told that we weren’t qualified to become part of the
program because you needed to be a bank to be quali-
Seizing Opportunity:
CrossroadsCelebrates aDecadeof Determination
BY RITA E. GARWOOD
Launched in 2006 with the sole purpose of financing titled equipment, Crossroads Equipment Lease and
Finance has expanded to become Crossroads Capital Group — a company that now also syndicates loans
through First Continental Capital Group and provides solutions for small businesses through Crossroads
Small Business Solutions. Celebrating its 10th anniversary this year, Crossroads President Jeff Macartney
attributes the company’s success to its tenacity.
JEFF MACARTNEY
President,
Crossroads Equipment
Lease & Finance
“Today, 100% of our portfolio is titled ‘equipment.’ In the future,
that will be a percentage, but it will be well below 50%, and we’ll
have our risks spread across a variety of industries, which is
beneficial to managing profits in the future.”
— Jeff Macartney, President, Crossroads Equipment Lease & Finance

2. MAR/APR 2016 • monitor • 31
Engel believes employees who are working toward their own goals
as well as the company’s goals make better employees. His individual
ownership approach allows Crossroads’ IT team to be creative and
gives team members the ability to make mistakes while they learn and
try new things.
Boone helps her employees find their way, develop their skills
and grow. She empowers her employees to make decisions so they
feel comfortable taking a leap of faith when they know they’re putting
the customer first. “They feel empowered in taking accountability and
ownership, and that creates a sense of pride in the work that they’re
producing, so they’re willing to stand by it and to show their talents.”
“I’ve read a lot of books, watched a lot of different CEOs, leaders
and presidents and have definitely come to the conclusion that I can’t
be any of them,” Macartney says. “I have to be myself. I learn a lot from
reading books and listening to other people, but trying to emulate one
individual that you think is very successful I think is flawed. So I am
who I am, and I try to become better every day.”
Taking this day-by-day approach, Crossroads is sowing the seeds
of future expansion. “Every year has been something different,”
Macartney says. “We are looking to start a factoring company. The
groundwork will be laid this year to be able to operate that business
in 2017. What comes after that I’m not sure, but if I’m here, something
will come after that because I enjoy the challenges of doing different
things as we go forward.” m
RITA E. GARWOOD is editor of Monitor.
First Continental Capital Group
In November 2015, Crossroads launched First Continental Capital
Group, a telesales division for syndicating equipment loans up to $50
million. First Continental leverages Crossroads’ transportation back-
ground while expanding to all collateral types with a national reach.
Thanks to this business, Crossroads will no longer need to turn away
transactions that don’t fit into the titled equipment or SBA categories.
“It’s a way for us to make sure we don’t waste origination and
credit review costs that have been spent looking at a transaction only
to find out it doesn’t fit in that business unit,” explains Macartney.
“Additionally, that unit is going to originate transactions that probably
will flow over into the SBA business, so it gives us the opportunity to
cross-sell. The product that we sell is all the same. Our inventory is
money, and we sell long-term financing, but we have different focuses.”
Functional Efficiency
Crossroads has decided to operate its business units functionally,
with the same credit, accounting and IT teams involved across all
units. “That will give us the ability to make sure we are consistent,”
Macartney says.
“From a functional perspective, the departments align and have
better synergy across the board,” says CFO Robin Boone. “And as
we find more efficiency, we become more functional, which helps
with profitability.”
The new business divisions created under the Crossroads Capital
Group have other benefits as well. “Since we have more options to
offer to customers, it also creates diversification from a portfolio risk
standpoint,” Macartney explains. “Today, 100% of our portfolio is
titled ‘equipment.’ In the future, that will be a percentage, but it will
be well below 50%, and we’ll have our risks spread across a variety of
industries, which is beneficial to managing profits in the future.”
Customers & Employees First
As Crossroads continues to grow, its leaders strive to ensure continued
success by focusing on the people who really matter: customers and
employees. Macartney says that putting the customer first is his top
priority. “That doesn’t always necessarily mean you do what the
customer asks, but you always think of things from the customer’s
perspective. How is it affecting them? If you were in their shoes, what
would you want someone to do? We always want to show dignity,
respect and integrity. We must be accountable, entrepreneurial and
have a passion for what we do — treating everyone we encounter how
we would want to be treated.”
Crossroads extends this golden rule to its employees, many of
whom have been with the company for a number of years and have
grown into higher-level positions. “We look at our employees as not
just a number, but people,” Macartney says. “What we do and how we
do it during their eight hours or more here in the office effects the rest
of their day. My goal is for people to be happy 24 hours a day. It doesn’t
always happen, but that is the goal.”
CIO Austin Engel strives to ensure all of his team members own
their world and feel connected to what they’re doing. He doesn’t
want his employees to feel like they’re just told what to do. “They’re
connected to their process. They have control over their environment
and what they do,” he explains. “I think it makes for a better working
relationship in that they have feedback and we have open communica-
tion with ideas, and strategic planning is done as a group, which leads
to better understanding and better buy-in at the different levels.”
“You always think of things from the customer’s perspective.
How is it affecting them? If you were in their shoes, what would
you want someone to do? We always want to show dignity,
respect and integrity. We must be accountable, entrepreneurial
and have a passion for what we do — treating everyone we
encounter how we would want to be treated,” — Jeff Macartney