Encina Equipment Finance added Michael Molenda to its commercial team as managing director and Marc Parauka to its risk team as vice president.
As a managing director of the commercial team, Molenda will have responsibility for originating new business. He will report to Rick Matte, president and chief operating officer of Encina Equipment Finance. Molenda has been working in the middle market for 27 years, holding various roles in sales, management and risk. Prior to joining Encina Equipment Finance, Molenda was a senior director of sales in PNC Bank’s structured equipment finance group, where he was responsible for originating equipment loans for the business credit portfolio.
As a vice president on Encina Equipment Finance’s risk team, Parauka will have responsibility for both new business underwriting and portfolio management duties. He will report to Katie Branch, chief risk officer of Encina Equipment Finance. Parauka began his career as an accountant at Deloitte, where he obtained his CPA. Since then, he has held several roles of increasing responsibility with a focus on credit and risk. Most recently, he worked at Utica Equipment Finance as director of credit and underwriting.
Launched in June 2017, Encina Equipment Finance provides loans and leases ranging in size from $5 million to $50 million and secured by essential-use machinery and equipment.