In support of ELFA’s People Power community ecosystem, Equipment Leasing & Finance Magazine presents leadership spotlights to help members connect, grow and lead across the equipment finance industry. In this issue, David Miles, Vice President, Director of Credit, Eastern Funding LLC, shares pivotal experiences and insights that have helped drive his success.
What part of your job do you most enjoy or gives you the most personal satisfaction?
The financing we provide helps small and medium sized business owners grow their business while providing critical services to the communities they serve. These communities are typically underserved and face economic hardships. I take great personal satisfaction in making a positive impact.
How would you describe your leadership philosophy, and what do you attribute it to?
I am a firm believer in servant leadership. When you are trusted with a leadership role, it is your responsibility to fully support your team in all facets of the business while creating a positive culture conducive to growth and empowerment. How effective you are in accomplishing this will ultimately determine your success as a leader. When I started managing several years ago, I strived to be a manager I would want to work for.
Who or what has inspired or motivated you at different stages of your career journey?
Having lost a parent at a young age, I’ve always been highly self-motivated. After I had my first child in 2015 and a second in 2017, that motivation only grew stronger. Aside from my personal career aspirations which are aggressive, I want to provide my kids with the type of support that will lead to their success as adults. The success of my career plays a big role in accomplishing this.
Do you have a regular morning routine or a process that gets you “in the zone” for your workday or a big event?
I’m no good without my morning cup of coffee. After I have my coffee, I’m locked in and ready for whatever the day holds.
What role does company culture play in Eastern Funding’s overall business strategy?
Our company culture has been focused heavily on the customer experience with all employees playing an important role in this initiative. Equipment finance is a highly competitive space, and companies need to overdeliver on customer expectations to remain a viable player in this game.
If you didn’t have the career you do, what other industry or type of work would be of interest to you?
I’ve been playing sports for as long as I can remember and I am by nature a highly competitive individual. If I didn’t have my current career, I would certainly be interested in the sports business working in the front office of an NBA or NFL team.
Looking ahead five years, what excites you about the future?
These days it’s nearly impossible to discuss the future without mentioning AI. It will be interesting to see what type of advancements are made in AI and how that impacts equipment financing. AI is inevitable, you want to ensure you are positioned to fully leverage this technology in the future.
Can you share a pivotal time or event that changed or impacted your personal or professional perspective?
The Great Recession in the late 2000’s was a very impactful event for me both personally and professionally. I was early in my career as a credit analyst and unfortunately was laid off due to the severe contraction happening in commercial lending. This event was ultimately a blessing in disguise as I was able to secure a job at Eastern Funding which offered growth opportunities not available at my prior place of employment. I started with Eastern Funding as a credit analyst and my current role is vice president, director of credit.
What piece of advice did you receive at any point in your career that has stayed with you?
The opportunity to lead is a privilege and not promised to anyone. If you are ever trusted with a leadership role maximize the opportunity and do not take it for granted.
What is the best piece of advice you would give to your 25-year-old self?
The hard work you put in is not always immediately rewarded. Be patient, stay the course and success will be inevitable—both in business and in life.
