ELFA and CLFP Unite to Tackle Equipment Finance Talent Crisis

WASHINGTON, Jan. 15, 2026 – The Equipment Leasing & Finance Association (ELFA) and the Certified Lease & Finance Professional (CLFP) Foundation today announced a formal affiliation, a landmark move designed to fortify the future of the $1.3 trillion equipment finance industry. The decision, ratified by a vote of CLFP members, unites the industry’s leading trade association with its preeminent certification body to address a critical and escalating talent shortage.

This strategic partnership aims to create a more robust and unified pipeline of skilled professionals by combining the resources, expertise, and strategic vision of both organizations. The move is seen as a direct response to demographic shifts and workforce challenges that threaten to undermine an industry essential to U.S. economic growth.

“ELFA and the CLFP Foundation share a mission to ensure our workforce is well prepared, and I’m excited to formalize this affiliation,” said ELFA President & CEO Leigh Lytle in a statement. “Combining our capabilities to develop and support the people in our industry will positively amplify our collective impact and ensure the equipment finance sector has the standing it deserves as a key driver of the U.S. economy.”

A Strategic Response to a Widening Talent Gap

The affiliation arrives at a crucial juncture for the financial services sector. Recent industry data paints a stark picture: as of late 2025, an estimated 84% of financial firms reported significant shortages of specialized talent. The equipment finance sector is particularly vulnerable, facing an impending wave of retirements that could decimate its institutional knowledge. Studies indicate that more than 60% of senior operations professionals in the industry are expected to retire within the next seven years, creating a massive experience vacuum.

Compounding the issue is a thin pipeline of new talent. Fewer than 12% of recent finance graduates express interest in specialized, non-sales roles within equipment finance, signaling a critical need to raise the industry’s profile among the next generation. This challenge is not just about numbers; it's about preserving the complex expertise required to facilitate the financing that underpins American business investment.

Ironically, the industry’s own talent crisis is occurring as its services become more vital than ever. Widespread labor shortages across sectors like agriculture, construction, and transportation are driving companies to invest heavily in automation and productivity-enhancing equipment. For many businesses, financing this new machinery is a matter of survival. This surge in demand places even greater strain on an equipment finance workforce that is already stretched thin, making the mission of the ELFA-CLFP affiliation both timely and essential.

Unifying for Professional Excellence and Global Standards

A cornerstone of the newly formed partnership is the long-term goal of elevating the CLFP credential through accreditation from the American National Standards Institute (ANSI). Achieving this milestone would signify that the certification meets rigorous, internationally recognized benchmarks for quality, fairness, and competence. ANSI accreditation is a powerful validator, providing assurance to employers and clients that a CLFP designee possesses a verified and reliable standard of expertise.

This pursuit of higher standards is central to the affiliation's global ambitions. An ANSI-accredited credential will be instrumental in supporting the CLFP’s expansion, including the upcoming launch of a Canadian CLFP program and other planned international partnerships. By establishing a globally respected benchmark for professionalism, the organizations aim to enhance the industry's reputation and create a more mobile, highly skilled international workforce.

Reflecting on the merger’s reception, CLFP Foundation CEO Reid Raykovich, CLFP, CAE, noted the enthusiastic backing from her community. “The response from the CLFP community to our affiliation with ELFA has been overwhelmingly positive, marked by pride, optimism, and thoughtful engagement,” she stated. “Aligning our organizations supports a single vision for a stronger, more unified equipment finance industry built on shared standards, shared values, and a shared commitment to professional excellence.”

Building the Workforce of Tomorrow

Beyond global standards, the affiliation is intensely focused on cultivating talent from the ground up. A key objective is to create clear and accessible pathways for aspiring professionals, connecting student programs and university partnerships directly to industry certification and career opportunities. This initiative directly confronts the challenge of attracting new entrants by building a structured bridge from the classroom to the workplace.

The partnership will also leverage the combined expertise of ELFA and the CLFP Foundation to develop a richer educational ecosystem. Plans include creating advanced credentials, specialized designations, and more robust continuing education programs to support lifelong learning and career progression. This will allow professionals to deepen their expertise in niche areas and adapt to the evolving demands of the market.

Furthermore, the affiliation is committed to fostering a more diverse and inclusive industry. By strengthening the talent pipeline through targeted partnerships, scholarships, and inclusive programming, the organizations aim to broaden access to careers in equipment finance. This not only addresses talent shortages but also enriches the industry with a wider range of perspectives and experiences, enhancing its long-term resilience and innovation.

Integration and the Path Forward

With the affiliation now official, the immediate focus turns to execution. The initial phase will involve a smooth operational transition, integrating CLFP staff and systems into the ELFA structure. To guide this process, a Transitional Board and a specialized Certification Commission will be established to oversee governance and maintain the integrity of the credential.

For the nearly 1,800 existing CLFP designees worldwide, the organizations have stressed a commitment to continuity. A top priority is ensuring that all professionals retain their certification status without interruption and that the program's stability is maintained throughout the integration. This careful, measured approach is designed to build confidence among stakeholders and ensure a seamless transition.

As these operational steps are taken, the broader strategic vision begins to take shape. The unification of ELFA's advocacy and industry reach with the CLFP's gold-standard educational framework marks a pivotal moment. By tackling the workforce crisis head-on, the partnership is not just reacting to a problem but proactively shaping the future of the equipment finance profession, ensuring it has the talent and standards necessary to continue fueling economic growth and business success across the nation.