Madison Equipment Financing

Warren Axelrod is Chief Executive Officer for Madison Equipment Financing. He has twenty years of commercial financing experience, most recently as founding member and Vice-President of the Equipment Finance Group at MagnetBank. Prior to this, he was Vice-President of Capital Markets for ORIX's Equipment Finance Group, where he developed investor relationships for both origination and syndication activities. Mr. Axelrod's earlier experience includes senior positions at Bank of America and The CIT Group. Mr. Axelrod is a graduate of New York University.

Avi Shapiro is Sales Manager for Madison Equipment Financing. Mr. Shapiro manages a seven person team including five sales reps and two processors. Mr. Shapiro's equipment leasing background includes both sales and underwriting experience. Prior to joining Madison Equipment Finance, Mr. Shapiro was founder of a technology outsourcing business and raised capital funds for a number of international high-tech start-up companies based in Israel. Mr. Shapiro is a graduate of Yeshiva University.

Charles Celnik is Controller for Madison Commercial Real Estate Services and all its affiliated companies. Mr. Celnik oversees all accounting functions and prepares Financial Statements for Madison's joint ventures and related parties. Mr. Celnik began his accounting career at Ernst & Young, LLP, where he was primarily responsible for tax structures for multi-state companies dealing with state and local taxes and audits for Sarbanes-Oxley compliance. From there, Mr. Celnik went to Home Décor Products, where he acted as the Internal Auditor in preparation for a possible IPO. Mr. Celnik received a Bachelor's degree from the Rabbinical College of Long Island and holds an MBA in Finance and Accounting from Rutgers University.