Welcome!
to the latest issue of The Lift Newsletter
This newsletter is designed to look great and function well right in your web browser. We trust you will find the content informative and helpful. Dive in by clicking on each page using the navigation to the left, or by simply scrolling down. On the last page you will find a form requesting your feedback; please let us know how we’re doing and what content you would like to see in the next edition!
Welcome!
to the latest issue of The Lift Newsletter
This newsletter is designed to look great and function well right in your web browser. We trust you will find the content informative and helpful. Dive in by clicking on each page using the navigation to the left, or by simply scrolling down. On the last page you will find a form requesting your feedback; please let us know how we’re doing and what content you would like to see in the next edition!
Letter from the CEO & COO
We are entering a particularly exciting time to be the captive finance company for Toyota and your partner in the forklift industry. After running into production challenges, Toyota is now ramping up production and product deliveries for the months ahead, and our teams will be working hard to fulfill the increased funding requests to support those units.
Recently, we announced changes to our rate lock premium policies for customers. We realize rates affect your business. This has been an extremely difficult decision for the TICF leadership team to make. Profitable sustainability is the foundation for a healthy captive finance company. Please know we have taken every step possible for you to remain competitive as a valued Toyota dealer in today’s market.
Additionally, our team has been hard at work this year developing alternative sources of revenue for you. In this edition, you can read more about one of our newest initiatives designed to be a potential additional revenue stream, the Lease End of Term guide. Designed to bring transparency to the lease-end process and build customer loyalty, the guide is just one way we are striving to continuously improve and meet our customers needs as a captive finance partner.
You will read more in this edition about the unique value TICF brings to dealers. From an in-depth interview with Cory Thorne about the benefits of working with us, to our latest marketing video featuring Brian Degnan’s perspective on our Dealer Financial Services offerings, we hope you find this edition informative and valuable.
In the next edition of The Lift, coming in November, we will feature a recap of TMH’s Toyota Week where TICF will be presenting, Dealer Satisfaction Survey updates, and much more.
Thank you for your continued support and business.
Sincerely,


Mark Taggart,
President & CEO

Ron Storz,
Chief Operating Officer
Letter from the CEO & COO
We are entering a particularly exciting time to be the captive finance company for Toyota and your partner in the forklift industry. After running into production challenges, Toyota is now ramping up production and product deliveries for the months ahead, and our teams will be working hard to fulfill the increased funding requests to support those units.
Recently, we announced changes to our rate lock premium policies for customers. We realize rates affect your business. This has been an extremely difficult decision for the TICF leadership team to make. Profitable sustainability is the foundation for a healthy captive finance company. Please know we have taken every step possible for you to remain competitive as a valued Toyota dealer in today’s market.
Additionally, our team has been hard at work this year developing alternative sources of revenue for you. In this edition, you can read more about one of our newest initiatives designed to be a potential additional revenue stream, the Lease End of Term guide. Designed to bring transparency to the lease-end process and build customer loyalty, the guide is just one way we are striving to continuously improve and meet our customers needs as a captive finance partner.
You will read more in this edition about the unique value TICF brings to dealers. From an in-depth interview with Cory Thorne about the benefits of working with us, to our latest marketing video featuring Brian Degnan’s perspective on our Dealer Financial Services offerings, we hope you find this edition informative and valuable.
In the next edition of The Lift, coming in November, we will feature a recap of TMH’s Toyota Week where TICF will be presenting, Dealer Satisfaction Survey updates, and much more.
Thank you for your continued support and business.
Sincerely,


Mark Taggart,
President & CEO

Ron Storz,
Chief Operating Officer
An Interview with
Bill Finerty, TMH President
What is the biggest challenge you faced in transitioning from Sales to TMH President?
That’s a good question. I think my lengthy career in different roles at different companies helped prepare me for the transition and avoid a lot of would-be challenges. And honestly, the way we went about the succession planning process and the smooth handoff from Jeff Rufener to me really minimized the number of challenges I had to face. The biggest difference, from my perspective, has been learning more about the operations side of the business and working to gain a better understanding of every area of the company. Other than that, it’s just been getting used to the number of meetings I’m involved in on a daily basis and the amount of direct interaction I have with TICO corporate. That has been a fun process for me as someone who enjoys lifelong learning and understanding things from a different perspective. I feel fortunate to have gained an even better understanding of Toyota in this new role.
What are your expectations of TICF through your tenure? How can TICF support TMH and its dealers?
TICF is an integral partner for TMH through their support of our industry-leading dealer network. Having a captive finance company allows us to do unique things and provide flexibility as ONE TOYOTA. My expectations are that we continue to collaborate, work on projects in unison, etc. as ONE TOYOTA to best serve our collective customers.
What are some opportunities for Toyota dealers in the next year?
The opportunities for Toyota and our dealers exist in the large trends in the material handling industry – specifically growth in the electric and automation markets, such as the warehouse space. Customer expectations and new legislation will force many customers to transition from IC to electric forklifts, and it’s critical that our dealers take advantage of this opportunity by having specific expertise on hand to both handle such transitions, and to get into new markets. Last year, we launched 22 new electric products to help us truly compete in the warehouse market, so our dealers have a great opportunity to grow that area of their businesses with world class products. It’s also essential that they gain expertise and continue to work directly with Toyota Advanced Logistics and our internal Automated Solutions team to identify and capitalize on customers’ automation opportunities. I appreciate that TICF understands these growth opportunities for our business and has been there to help finance many of these deals. I see it as a win-win-win opportunity when you’re talking about TMH, our dealers, and TICF.
What are some challenges for Toyota dealers and how can TMH help?
Many of the challenges our dealers face are also some of the top opportunities. Toyota has been a dominant IC forklift manufacturer for a long time, so it’s not an easy transition to new markets, to electric and automated products. TMH can help in those areas by continuing to provide our dealers with training to best succeed in these new markets. Other than that, the challenges are the same as those facing the rest of the material handling industry – long lead times, supply chain challenges, etc. We are doing our best to help in this area by making our operations more efficient in Columbus, hiring and training new Associates, and putting together training programs to help our dealers learn to pipeline electric products. There is no silver bullet to these challenges, but we will continue to do our best to help support our dealers in every way possible.
An Interview with
Bill Finerty, TMH President

What is the biggest challenge you faced in transitioning from Sales to TMH President?
That’s a good question. I think my lengthy career in different roles at different companies helped prepare me for the transition and avoid a lot of would-be challenges. And honestly, the way we went about the succession planning process and the smooth handoff from Jeff Rufener to me really minimized the number of challenges I had to face. The biggest difference, from my perspective, has been learning more about the operations side of the business and working to gain a better understanding of every area of the company. Other than that, it’s just been getting used to the number of meetings I’m involved in on a daily basis and the amount of direct interaction I have with TICO corporate. That has been a fun process for me as someone who enjoys lifelong learning and understanding things from a different perspective. I feel fortunate to have gained an even better understanding of Toyota in this new role.
What are your expectations of TICF through your tenure? How can TICF support TMH and its dealers?
TICF is an integral partner for TMH through their support of our industry-leading dealer network. Having a captive finance company allows us to do unique things and provide flexibility as ONE TOYOTA. My expectations are that we continue to collaborate, work on projects in unison, etc. as ONE TOYOTA to best serve our collective customers.
What are some opportunities for Toyota dealers in the next year?
The opportunities for Toyota and our dealers exist in the large trends in the material handling industry – specifically growth in the electric and automation markets, such as the warehouse space. Customer expectations and new legislation will force many customers to transition from IC to electric forklifts, and it’s critical that our dealers take advantage of this opportunity by having specific expertise on hand to both handle such transitions, and to get into new markets. Last year, we launched 22 new electric products to help us truly compete in the warehouse market, so our dealers have a great opportunity to grow that area of their businesses with world class products. It’s also essential that they gain expertise and continue to work directly with Toyota Advanced Logistics and our internal Automated Solutions team to identify and capitalize on customers’ automation opportunities. I appreciate that TICF understands these growth opportunities for our business and has been there to help finance many of these deals. I see it as a win-win-win opportunity when you’re talking about TMH, our dealers, and TICF.
What are some challenges for Toyota dealers and how can TMH help?
Many of the challenges our dealers face are also some of the top opportunities. Toyota has been a dominant IC forklift manufacturer for a long time, so it’s not an easy transition to new markets, to electric and automated products. TMH can help in those areas by continuing to provide our dealers with training to best succeed in these new markets. Other than that, the challenges are the same as those facing the rest of the material handling industry – long lead times, supply chain challenges, etc. We are doing our best to help in this area by making our operations more efficient in Columbus, hiring and training new Associates, and putting together training programs to help our dealers learn to pipeline electric products. There is no silver bullet to these challenges, but we will continue to do our best to help support our dealers in every way possible.
Top Performing Dealers
Standings for Q1 FY2023
These top performing dealers have continually shown their support for Toyota Industries Commercial Finance. In each issue of The Lift we announce the quarterly Top 10 Dealers in Market Share and Volume. We are proud to call these dealers our partners and look forward to working with them each day. Ranking shown for Q1, as of 6-30-2022.
Top Dealers by Volume
| 1. ProLift Toyota Material Handling |
| 2. Shoppas Material Handling |
| 3. Doggett Equipment Services |
| 4. Southern States ToyotaLift |
| 5. Nationwide Lift Trucks, Inc. |
| 6. Southeast Industrial Equipment, Inc. |
| 7. Toyota Material Handling Northern California |
| 8. ToyotaLift Northeast, LLC |
| 9. Toyota Material Handling Solutions |
| 10. Summit ToyotaLift |
Top Dealers by Market Share
| 1. Lift Truck Supply, Inc. |
| 2. Watts Equipment Company |
| 3. Bahrns ToyotaLift |
| 4. Winchester Equipment Company |
| 5. JIT Toyota-Lift |
| 6. Southern States ToyotaLift |
| 7. Allied ToyotaLift |
| 8. Nationwide Lift Trucks, Inc. |
| 9. Northern ToyotaLift |
| 10. Doggett Equipment Services |
Top Performing Dealers
Standings for Q1 FY2023
These top performing dealers have continually shown their support for Toyota Industries Commercial Finance. In each issue of The Lift we announce the quarterly Top 10 Dealers in Market Share and Volume. We are proud to call these dealers our partners and look forward to working with them each day. Ranking shown for Q1, as of 6-30-2022.
Top Dealers by Volume
| 1. ProLift Toyota Material Handling |
| 2. Shoppas Material Handling |
| 3. Doggett Equipment Services |
| 4. Southern States ToyotaLift |
| 5. Nationwide Lift Trucks, Inc. |
| 6. Southeast Industrial Equipment, Inc. |
| 7. Toyota Material Handling Northern California |
| 8. ToyotaLift Northeast, LLC |
| 9. Toyota Material Handling Solutions |
| 10. Summit ToyotaLift |
Top Dealers by Market Share
| 1. Lift Truck Supply, Inc. |
| 2. Watts Equipment Company |
| 3. Bahrns ToyotaLift |
| 4. Winchester Equipment Company |
| 5. JIT Toyota-Lift |
| 6. Southern States ToyotaLift |
| 7. Allied ToyotaLift |
| 8. Nationwide Lift Trucks, Inc. |
| 9. Northern ToyotaLift |
| 10. Doggett Equipment Services |
Meet Keith Courtney,
Our New Senior Manager of Sales
Excellent service comes from accomplished associates, and that’s why we are pleased to announce that Keith Courtney has been promoted to Senior Manager of Sales at Toyota Industries Commercial Finance.
With more than 25 years of experience in the captive commercial finance industry, Keith has honed his expertise through roles with companies including GE Capital, Isuzu Motors Acceptance Corporation, and Daimler Truck Financial. He joined TICF two years ago leading the Hino sales team and has been serving as interim Senior Manager for both forklift and truck since the beginning of the year, when Mike Schultze was promoted to Sr. Director of Sales & Operations.
In this his new expanded role, Keith will now also work with the TICF forklift RSMs as they continue to grow the TMH portfolio in both the Retail and Wholesale areas. Reporting to Ron Storz, Chief Operating Officer, Keith will provide most of the day-to-day support for both TMH and Hino sales.
“Keith has done a great job learning the intricacies of the forklift business during a challenging market environment of limited inventory and rising rates,” says Ron Storz, Chief Operating Officer. “We are delighted to have Keith bring his extensive commercial experience to the forklift team and look forward to introducing him to the dealer body during Toyota Week.”
“At the same time, we are thrilled to expand Mike’s role with the organization. Leveraging his previous operations experience and success in sales, Mike is now focus on operational excellence and shaping the dealer and customer experience. In addition to leading improvements in our customer service, major accounts, and collections areas, Mike oversees the Project Management Office which is responsible for facilitating all strategic initiatives and business transformational opportunities,” added Ron.
Please reach out to Keith, Mike, or any member of the sales team with questions.
Meet Your Inside Sales Manager,
Leisha Nalls
During the pandemic, a remark from a dealer helped instill even more pride in TICF for Leisha Nalls. “He said, ‘What we do keeps the country moving,’ and during the recent supply chain disruption, we all have realized how vital this industry is. We need trucks and forklifts to move groceries, clothing, and everything we buy in the store,” she says. “It’s exciting to work behind the scenes, and it’s what makes my work with TICF so satisfying. “
Leisha has been with TICF for six years this summer—her first position was in retail credit as a credit analyst where she became involved in process improvement.
Next, she had the opportunity to cross train with the dealer credit department and most recently, was promoted to the sales team in January. It’s a position she finds particularly unique because while truck and forklift sales are typically divided, as the inside sales manager she can work with both. Leisha looks forward to working collaboratively with dealers to increase market share, serving as a liaison who can help rectify a situation or take care of a special request.
While Leisha says she never expected to pursue a sales career, she has found one of her favorite parts of the job to be interacting with the CFOs, dealer principals, and other top dealer personnel to understand how TICF’s financing tools can help their businesses grow. “It’s a significant part of what our sales team does—working with the dealer to understand their needs and showing them how captive finance can act as a partner to take their business to the next level.”
When Leisha joined TICF, she immediately noticed a difference from other companies where she had worked in how it prioritizes finding creative solutions for dealers’ unique needs. “While the requests can be specialized and occasionally challenging, we band together here in the credit, sales, and operations teams to figure out an answer. It’s what sets us apart from other lenders, and it is why dealers continue to work with us,” she says.
“I appreciate when dealers provide full transparency when they approach us,” she says. “Sometimes when they are making a request, they know is outside of industry norms, they hesitate to tell us all the details because they think we might not be as open to consideration; but in reality, it’s the opposite. The more we know, the better equipped we are to offer customized services.”
Leisha admires the fact that many dealers’ businesses are family-owned and operated. “Because both my father and grandmother own and operate businesses, I understand the mindset and am even more motivated to strive to help our dealers meet their goals as they aim to improve their business and preserve their legacy,” she says.
When she’s not working, Leisha enjoys spending time with her family and loves to try new restaurants and explore her local farmer’s market. She even has passed on these “foodie” tendencies to her nine-year-old fur baby, a Maltese Yorkie mix, and makes his wholesome food from scratch using chicken, rice, and vegetables.
“I find you can get in touch with places through food since it tells such a fascinating story,” she says. Given her love of travel, Leisha looks forward to getting on the road to visit dealers as soon as possible but also has her sights set on more exotic locations, like Cancun and the Mayan Riviera region, with an aspiration to eventually retire at the beach.
Meet Keith Courtney,
Our New Senior Manager of Sales

Excellent service comes from accomplished associates, and that’s why we are pleased to announce that Keith Courtney has been promoted to Senior Manager of Sales at Toyota Industries Commercial Finance.
With more than 25 years of experience in the captive commercial finance industry, Keith has honed his expertise through roles with companies including GE Capital, Isuzu Motors Acceptance Corporation, and Daimler Truck Financial. He joined TICF two years ago leading the Hino sales team and has been serving as interim Senior Manager for both forklift and truck since the beginning of the year, when Mike Schultze was promoted to Sr. Director of Sales & Operations.
In this his new expanded role, Keith will now also work with the TICF forklift RSMs as they continue to grow the TMH portfolio in both the Retail and Wholesale areas. Reporting to Ron Storz, Chief Operating Officer, Keith will provide most of the day-to-day support for both TMH and Hino sales.
“Keith has done a great job learning the intricacies of the forklift business during a challenging market environment of limited inventory and rising rates,” says Ron Storz, Chief Operating Officer. “We are delighted to have Keith bring his extensive commercial experience to the forklift team and look forward to introducing him to the dealer body during Toyota Week.”
“At the same time, we are thrilled to expand Mike’s role with the organization. Leveraging his previous operations experience and success in sales, Mike is now focus on operational excellence and shaping the dealer and customer experience. In addition to leading improvements in our customer service, major accounts, and collections areas, Mike oversees the Project Management Office which is responsible for facilitating all strategic initiatives and business transformational opportunities,” added Ron.
Please reach out to Keith, Mike, or any member of the sales team with questions.
Meet Your Inside Sales Manager:
Leisha Nalls
During the pandemic, a remark from a dealer helped instill even more pride in TICF for Leisha Nalls. “He said, ‘What we do keeps the country moving,’ and during the recent supply chain disruption, we all have realized how vital this industry is. We need trucks and forklifts to move groceries, clothing, and everything we buy in the store,” she says. “It’s exciting to work behind the scenes, and it’s what makes my work with TICF so satisfying. “
Leisha has been with TICF for six years this summer—her first position was in retail credit as a credit analyst where she became involved in process improvement.
Next, she had the opportunity to cross train with the dealer credit department and most recently, was promoted to the sales team in January. It’s a position she finds particularly unique because while truck and forklift sales are typically divided, as the inside sales manager she can work with both. Leisha looks forward to working collaboratively with dealers to increase market share, serving as a liaison who can help rectify a situation or take care of a special request.
While Leisha says she never expected to pursue a sales career, she has found one of her favorite parts of the job to be interacting with the CFOs, dealer principals, and other top dealer personnel to understand how TICF’s financing tools can help their businesses grow. “It’s a significant part of what our sales team does—working with the dealer to understand their needs and showing them how captive finance can act as a partner to take their business to the next level.”
When Leisha joined TICF, she immediately noticed a difference from other companies where she had worked in how it prioritizes finding creative solutions for dealers’ unique needs. “While the requests can be specialized and occasionally challenging, we band together here in the credit, sales, and operations teams to figure out an answer. It’s what sets us apart from other lenders, and it is why dealers continue to work with us,” she says.
“I appreciate when dealers provide full transparency when they approach us,” she says. “Sometimes when they are making a request, they know is outside of industry norms, they hesitate to tell us all the details because they think we might not be as open to consideration; but in reality, it’s the opposite. The more we know, the better equipped we are to offer customized services.”
Leisha admires the fact that many dealers’ businesses are family-owned and operated. “Because both my father and grandmother own and operate businesses, I understand the mindset and am even more motivated to strive to help our dealers meet their goals as they aim to improve their business and preserve their legacy,” she says.
When she’s not working, Leisha enjoys spending time with her family and loves to try new restaurants and explore her local farmer’s market. She even has passed on these “foodie” tendencies to her nine-year-old fur baby, a Maltese Yorkie mix, and makes his wholesome food from scratch using chicken, rice, and vegetables.
“I find you can get in touch with places through food since it tells such a fascinating story,” she says. Given her love of travel, Leisha looks forward to getting on the road to visit dealers as soon as possible but also has her sights set on more exotic locations, like Cancun and the Mayan Riviera region, with an aspiration to eventually retire at the beach.
Introducing TICF’s New Lease End-of-Term Guide For Customers
Our lease program is one of the most popular products we have to offer our customers. In the spirit of the Toyota Way and Kaizen, or continuous improvement, we have created a brand-new Lease Return Guide. This guide manages customer expectations, provides transparency and guidance to the lease-end process, and serves as another way we strive to enhance the customer experience. Our easy-to-use guide simplifies the process, outlines the three options they have at the end of their lease, and provides detailed explanations customers need to make the right decision.
The new TICF Lease-End Return Guide is a result of listening to dealer feedback and how we can improve the lease return process and help provide another revenue opportunity for dealers. We know that when our mutual customers succeed, we all succeed.
By September 1, you will receive printed brochures and envelopes to enable you to deliver this information in a way that best works for your dealership. The Lease-End Guide is also available in a digital format on our website.
Introducing TICF’s New Lease End-of-Term Guide For Customers
Our lease program is one of the most popular products we have to offer our customers. In the spirit of the Toyota Way and Kaizen, or continuous improvement, we have created a brand-new Lease Return Guide. This guide manages customer expectations, provides transparency and guidance to the lease-end process, and serves as another way we strive to enhance the customer experience. Our easy-to-use guide simplifies the process, outlines the three options they have at the end of their lease, and provides detailed explanations customers need to make the right decision.
The new TICF Lease-End Return Guide is a result of listening to dealer feedback and how we can improve the lease return process and help provide another revenue opportunity for dealers. We know that when our mutual customers succeed, we all succeed.
By September 1, you will receive printed brochures and envelopes to enable you to deliver this information in a way that best works for your dealership. The Lease-End Guide is also available in a digital format on our website.
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We are already planning the next edition of the Lift. Have a story idea or a suggestion to improve? Please let us know by submitting it via the form below.
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“I work with TICF on floorplanning new equipment, loans for rental equipment and used equipment, along with revolving lines of credit and real estate financing,” Thorne said. “You could not get a better partner than TICF.”
