Deb Baker has been in equipment finance her entire life. In fact, she landed her first full-time job in the industry before graduating from college. “Although my mom introduced me to equipment finance, she wasn’t thrilled with my decision to work full time and finish college part time. She made me sign a legal contract pledging that I would finish up my four-year degree,” Baker recalls. “She even made me get it notarized!” Baker went on to complete that degree—and later, an MBA in business management—and has continued in the industry ever since: at AT&T Capital and its successors, then Compaq (later acquired by HP) and Cisco Capital before returning to HP in 2018 in her current role as Head of Global Payment Solutions. Now, as the Equipment Leasing & Finance Association’s (ELFA) newest Chair, she’s on a mission to get more young people as excited about equipment finance as she is.
She’s taking on that mission at an important time.
Over the past year, ELFA has made big strides on education and workforce. The successful rollouts of the Power of People Summit and the Attract, Train, Retain framework were followed by the announcement of the Certified Lease & Finance Professional Foundation’s (CLFP) intent to affiliate with ELFA, and the Equipment Leasing & Finance Foundation’s announcement that it will focus more on workforce initiatives through its Campus to Career programs, including scholarships, internships and developing curriculums through university partnerships.
In Baker’s view, that all provides the perfect platform to go faster and further over the coming year. “We have an incredible opportunity to articulate a comprehensive talent pipeline for equipment finance,” Baker says. “In other words, a virtuous cycle where we invite more people into our industry and association—and provide more tools and more value at every stage of their career journeys.”
She knows a thing or two about being invited into the association.
Intro to ELFA
In 2017, a colleague at Cisco Capital heard about ELFA setting up the Women’s Council (now part of the Power of People) and thought she might be interested in joining. He was right. “It was a fantastic opportunity that allowed me to attend events like Annual Convention, and it’s what started my ball rolling at ELFA,” Baker recalls. It led her to chair the Women’s Council and then join the Board a year later. She still remembers the call from then-ELFA Chair Martha Ahlers, asking her if she was interested in joining. “I said yes instantly,” Baker recalls. “I was afraid if I thought about it, I might pass on the opportunity.”
Deb and ELFA members at the inaugural Women’s Leadership Forum, July 2018.
Her aim on the Board was to find areas where she could make the greatest impact. That led her to serve on the Executive Committee, Nominating Committee, and as Board liaison to the Women’s Council. As Baker kept raising her hand for more assignments, she received another fateful call from Bob Neagle, ELFA Board Vice Chair at the time. “‘Deb, have you thought about becoming Chair yourself?,’ Bob asked,” Baker recalls. “I hadn’t, but it was another immediate yes—because I knew it would be the best way to continue making a difference.”
And she sees plenty of areas for impact in the year ahead.
Areas of Focus
Research is one area of focus. “The data we have is something no single company could replicate, and that’s such a value for our members as they try to work out the right business decisions in this rapidly changing world,” Baker says. She’d like to see ELFA continue to increase that value for member companies with more of the data and insights they need in such a dynamic economy. [NOTE: For more, see “The Future of Research” by ELFA COO Daryl Muller in this issue]. Another area is advocacy. Baker is particularly focused on building upon last year’s major policy wins as the federal and state teams work out their top 2026 priorities. “We have incredible opportunities to continue the remarkable progress we’ve made on Section 1071 in Washington and disclosure laws in the states, to name just two examples. ”
Of course, ELFA members should also expect a tight focus on education and the future of the workforce with Baker in the chair. She’s particularly excited about everything ELFA and the Foundation are doing on university partnerships. “As someone who has always wanted to be an adjunct professor, I feel like I now have that opportunity,” Baker says. “And a lot of the students I speak with have no idea this is a trillion-dollar industry. When you tell them that, they’re like ‘Really? Wow!’” Baker continued: “It all contributes to a talent pool where businesses can hire more qualified candidates—which is so important to our members, especially smaller companies.”
What’s in Store for 2026
That statement is a perfect encapsulation of Deb Baker’s mantra for 2026: Grow the industry and grow its value. “It’s that virtuous cycle I mentioned earlier,” Baker explains. “I want us to build more pipelines to attract more talent into our association while simultaneously making it more attractive with more 
resources and opportunities for members—whether they’re an intern or in the C-suite.” She’s particularly mindful of her own journey into ELFA and wants to ensure more individuals find their way into the association and into positions of leadership. As Baker takes the chair, she’s looking forward to working with CEO Leigh Lytle and her team on their shared priorities. “As someone who’s spent her entire life in equipment finance, I think it’s refreshing to have a partner with a background in other areas like finance, tech, and advocacy—and such an impressive one at that. Leigh has done so much in her time with ELFA already. There’s just this general sense of elevation you can see and feel all around you these days.”
Baker currently resides in North Carolina with her husband of 32 years. Giving back is important to her and she regularly supports charities that provide support for military pet owners while on deployment, opportunities for children with complex medical and physical needs to attend summer camp, and other causes. In the mornings, you’ll find her working on the NYT crossword puzzle—which she solves every day—and in the evenings she’s in the kitchen whipping up culinary creations.
While Baker believes there’s never been a better time to be in equipment finance, she also feels confident she’ll be able to say the same thing when her term concludes. “We’ve got so much potential and so much momentum right now, and I can’t wait to work with Leigh and her team, the Board, and all of our members as we build on it and take our association to even greater heights.”
