News — Industry News
Utility Equipment Leasing Expands Utility Truck Fleet
To meet customer demand, Utility Equipment Leasing, a provider of utility truck rentals and leasing to electrical transmission and distribution markets, said it has added over 60 new trucks to its fleet.
Read more...Date Posted May 16, 2012
CIT Provides Financing to John Varvatos Enterprises
CIT Group provided a senior secured asset-based credit facility to John Varvatos Enterprises, a designer, retailer, and wholesaler of men’s designer apparel and accessories. The financing was completed in conjunction with the acquisition of the company by Lion Capital from VF Corporation.
Read more...Date Posted May 16, 2012
BFEC Closes Two Transactions Totaling $450K
Boston Financial & Equity Corporation closed two new transactions, which include a $250,000 master equipment lease for an entertainment web site and a $200,000 lease for a development stage company.
Read more...Date Posted May 15, 2012
Ex-Im Bank Provides Guarantee to Support Textron Financial
The Export-Import Bank has approved a guarantee of a $350 loan facility to provide funds to assist Textron in financing the exports of its Cessna aircraft and Bell Helicopters. PNC was the facility lender with a guarantee from Textron Financial.
Read more...Date Posted May 15, 2012
LeaseStation, ChannelOnline Announce VAR Leasing Enhancements
LeaseStation and ChannelOnline announced enhancements to their leasing system solutions that enable ChannelOnline’s community of value-added resellers to now automatically offer equipment financing.
Read more...Date Posted May 15, 2012
Travelers Capital Arranges $26 Million for Riverbank Power
Travelers Capital arranged a $26 million senior secured credit facility to fund construction for Riverbank projects in Oregon and Montana. Travelers structured and arranged the project financing consisting of a construction loan and a 20-year term loan for each of the two projects.
Read more...Date Posted May 14, 2012
CIT Arranges Financing for K Road’s McHenry Solar Acquisition
CIT Group announced that it jointly arranged a senior secured credit facility for K Road Power, an independent power developer, to acquire the McHenry Solar Project, a 25-megawatt photovoltaic solar project, from SunPower.
Read more...Date Posted May 14, 2012
Retail Capital Launches Merchant Cash Advance Services
Retail Capital said as a result of its recent launch of merchant cash advance services it can now offer cash for business owners who need to purchase or repair equipment.
Read more...Date Posted May 11, 2012
Commercial Credit Group Ownership Interest Sold
Equipment finance company Commercial Credit Group said it received a majority equity investment from funds affiliated with Lovell Minnick Partners, which purchased controlling ownership interest of Commercial Credit from Falfurrias Capital Partners.
Read more...Date Posted May 11, 2012
United Capital Refinances Debt for Domino’s Pizza Operator
United Capital Business Lending provided $1,570,000 in financing to Domino’s
Pizza owner, DFL Pizza. United Capital refinanced 13 existing locations in Colorado and
Wyoming.
Date Posted May 11, 2012
Oxford Finance Provides $27.5 Million to Pacira Pharmaceuticals
Oxford Finance announced that it closed a $27.5 million senior secured term loan with Pacira Pharmaceuticals. Proceeds of the loan are being used to refinance existing debt and for general working capital.
Read more...Date Posted May 11, 2012
TAB Bank Closes 22 Equipment Loans/Leases in April
TAB Bank said it provided $31.4 million in credit facilities for several businesses during the month of April. Included in the total were 22 equipment loans and leases for an aggregate amount of $12.4 million.
Read more...Date Posted May 10, 2012
SDR Ventures Raises $5MM Facility for Denney Transport
SDR Ventures raised $5 million in senior debt financing for Denney Transport through Mutual of Omaha Bank. SDR Ventures served as exclusive advisor to Denney throughout the transaction.
Read more...Date Posted May 9, 2012
TAB Provides $3 Million to Global Information Technology
TAB Bank announced that it has provided a $3 million credit facility based on accounts receivable for Global Information Technology. The new facility is extended through a multi-year agreement.
Read more...Date Posted May 9, 2012
LeasePlan USA Named One of Top Workplaces in Atlanta
Automotive Fleet is reporting that LeasePlan USA has been named one of the Top 100 Workplaces in Atlanta by the Atlanta Journal-Constitution. This is second consecutive year that the fleet management solutions provider has been awarded this accolade.
Read more...Date Posted May 8, 2012
Innovative Funding Teams Up with PHH Arval
Innovative Funding Services said it has teamed up with PHH Arval. PHH will offer IFS as a potential funding source for its clients’ employees wishing to purchase their fleet vehicles.
Read more...Date Posted May 8, 2012
Air Lease Closes Credit Facility in Excess of $850 Million
Air Lease said it closed a three-year, revolving credit facility in excess of $850 million priced at LIBOR +1.75%, with no LIBOR floor.
Read more...Date Posted May 8, 2012
CIT to Reduce High Cost Debt by Additional $2 Billion
CIT said it will redeem $2 billion of its 7% Series C Senior Unsecured Notes maturing in 2017. Including this redemption, CIT will have eliminated or refinanced approximately $26 billion of high cost debt since the beginning of 2010.
Read more...Date Posted May 7, 2012
The Alta Group Facilitates First American EF Acquisition
Representing City National, The Alta Group said it was instrumental in helping the bank identify acquisition prospects, performing due diligence and providing advisory services in arranging and closing the bank’s acquisition of First American Equipment Finance.
Read more...Date Posted May 7, 2012
LEAF Commercial Capital Q2 Originations Rise 159%
Resource America said LEAF Commercial Capital’s lease originations trended upward during the second fiscal quarter ended March 31, 2012 and increased by 159% compared to the same period one-year ago.
Read more...Date Posted May 7, 2012
EverBank Financial IPO Closes Up 6% on First Day of Trading
In its first day as a public company, EverBank Financial’s stock closed at $10.60 a share on the NYSE, up 6% from its IPO offering price of $10.00 per share. The company now trades under the symbol “Ever.”
Read more...Date Posted May 4, 2012
CIT Provides Acquisition Financing to United Recovery Systems
CIT Group said its CIT Bank subsidiary provided financing for United Recovery Systems to facilitate its acquisition of Enterprise Recovery Systems. CIT Commercial & Industrial served as sole lead arranger and administrative agent for the financing.
Read more...Date Posted May 3, 2012
ISM: Manufacturing Activity Expands in April
Economic activity in the manufacturing sector expanded in April for the 33rd consecutive month, and the overall economy grew for the 35th consecutive month, according to the latest Manufacturing ISM Report On Business.
Read more...Date Posted May 2, 2012
CIT Announces Public Offering of Senior Unsecured Notes
CIT said it has commenced an offering of senior unsecured notes due 2017 and senior unsecured notes due 2020 in a transaction registered with the U.S. Securities and Exchange Commission.
Read more...Date Posted May 2, 2012
Rouse: Used Equipment Values Rise in March
According to the Rouse Construction Rental Report for the month ending March 31, 2012, the Rouse Value Index of Orderly Liquidation Values for used equipment increased 1.1% over the previous month.
Read more...Date Posted May 2, 2012
U.S. Small Business Lending Continues to Stall in March
The pace of lending to small businesses continues to be at a standstill, according to PayNet’s Small Business Lending Index. Small businesses are becoming increasingly concerned about the economy, targeting their investments to replace worn out equipment, PayNet said.
Read more...Date Posted May 1, 2012
CapitalSource Elects Healthcare Exec to Board
CapitalSource said Joseph C. Mello has been elected to its board of directors.
Mello, who has substantial experience in the healthcare field, previously served in senior executive positions with Da Vita, Vivra Asthma & Allergy, MedPartners and Caremark.
Date Posted April 30, 2012
Industry Vet Says Economy Would Benefit From Big Bank Breakup
In an opinion letter that appeared in the American Banker, Cobra Capital president Dale Kluga said, “Breaking up the big banks will create more competition for the most important source of any job recovery – U.S. small businesses.”
Read more...Date Posted April 30, 2012
First American EF Chosen Best Company to Work for in NY State
First American Equipment Finance said it was named winner of the Best Companies to Work For in New York State competition. First American was chosen as the winner among 26 finalists in the small/medium-sized employer (15-249 employee) category.
Read more...Date Posted April 30, 2012
Summit Funding Group Announces Expansion, Relocation
Summit Funding Group announced it will move into a new headquarters facility effective June 1, 2012, to accommodate an increase in personnel from extensive growth over the last several years and to accommodate anticipated future growth.
Read more...Date Posted April 26, 2012
CIT Closes $753MM Equipment Lease Securitization
CIT Group announced that it closed a $753 million equipment lease securitization. CIT said it sold six classes of fixed rate notes in a private offering backed by a pool of equipment leases from CIT’s Vendor Finance business segment.
Read more...Date Posted April 26, 2012
ELFA Issues Lease Accounting Project Update
The ELFA issued a lease accounting project update, noting that at the February meetings, the FASB/IASB could not agree on any of the three lessee accounting approaches. After the meeting, the Boards added a fourth approach that the ELFA has been recommending from the start of the leases project.
Read more...Date Posted April 26, 2012
Survey: Middle Market Growth to Outpace Larger Companies
The National Center for the Middle Market, a partnership between GE Capital and The Ohio State University, said the middle market grew 8.4% in the past year. Although middle-market companies expect revenue growth to slow, they are outpacing projections from large S&P businesses.
Read more...Date Posted April 26, 2012
Ally Commercial Finance Expands Funding for Business Growth
Ally Commercial Finance announced the closing of a $300 million revolving secured credit facility from Deutsche Bank to support the continued growth of its business.
Read more...Date Posted April 25, 2012
Dynamic Funding Completes Commercial Financing Deals
Dynamic Funding, a Colorado-based equipment leasing company, announced that it has completed fair market value equipment leases with the State of Colorado and Privia, a technology solutions company.
Read more...Date Posted April 24, 2012
Cat Financial Participates in $640MM Avanti Mining Deal
Avanti Mining said it has secured a financing for its Kitsault molybdenum mine with five lenders agreeing to provide up to $640 million in loans. Caterpillar Financial is a member of the lender group.
Read more...Date Posted April 23, 2012
Senior Secured Loan Program Closes $751MM in Commitments
The Senior Secured Loan Program, jointly managed by an affiliate of Ares Capital and an affiliate of GE Capital, said it closed seven financing commitments totaling $751 million during the first quarter of 2012.
Read more...Date Posted April 23, 2012
On Deck Launches ‘Split Funding’ Method For Small Businesses
On Deck announced at the Electronic Transactions Association Annual Meeting and Expo the launch of Split Funding, a new payment method that allows merchants to obtain a true business loan with a variable payment option.
Read more...Date Posted April 20, 2012
NY Dormitory Authority to Provide $25MM in Lease Financing
The Board of the Dormitory Authority of the State of New York, a public benefit corporation providing financing services to public and private institutions, said it will finance a combined $25 million for two organizations through its Tax-Exempt Equipment Leasing Program.
Read more...Date Posted April 20, 2012
AIG Commercial Asset Finance Provides $105MM Loan for U-Haul
AIG Commercial Asset Finance said it has provided a $105 million loan for properties managed by U-Haul.
Read more...Date Posted April 19, 2012
Mid-Market Companies Weather Downturn, Confident About Future
Middle-market companies in the U.S., while not immune from the economic downturn, have fared well over the past few years, and they are confident about their prospects for the future, according to new research published by BMO Harris Bank and Forbes Insights.
Read more...Date Posted April 19, 2012
Main Street Capital Announces New Portfolio Investment
Main Street Capital said it recently closed a new lower middle-market portfolio investment totaling $5 million in Bridge Capital Solutions, a financial services firm that provides accelerated cash-flow solutions to small businesses.
Read more...Date Posted April 19, 2012
Monroe Provides $43.25MM for R. Cushman Acquisition
Monroe Capital announced the funding of a $43.25 million unitranche facility and an equity co-investment to support the acquisition of R. Cushman & Associates by Fabco Automotive Corporation Partners, a portfolio company owned by Wynnchurch Capital.
Read more...Date Posted April 18, 2012
Cat to Sell Part of Bucyrus Business to Ferreyros
Caterpillar and Ferreyros announced they have reached an agreement for Ferreyros to acquire from Caterpillar the distribution and support business formerly operated by Bucyrus in Peru.
Read more...Date Posted April 17, 2012
Doral Healthcare Finance Provides $15MM Financing
Doral Healthcare Finance announced it has provided $15 million of a $40 million financing facility for Prospect Medical Holdings.
Read more...Date Posted April 17, 2012
Odessa Technologies, Ivory Consulting Announce Alliance
Odessa Technologies and Ivory Consulting have announced a strategic alliance to comprehensively integrate Ivory’s SuperTRUMP pricing solution with the LeaseWave lease and loan management system.
Read more...Date Posted April 16, 2012
AIGCAF Funds $55MM Equipment Lease
AIG Commercial Asset Finance announced it has funded $55 million of a $100 million lease line for 2012 for a major investment grade provider of oil-field services in the United States.
Read more...Date Posted April 16, 2012
Agencies Propose Revisions to Leveraged Finance Guidance
In a joint news release, the Fed, FDIC and Office of the Comptroller said they are seeking to revise the interagency leverage finance guidance issued in 2001.
The agencies noted that since the crisis, volumes have increased while prudent underwriting practices have deteriorated.
Date Posted April 16, 2012
Key Equipment Finance Launches Streamlined New Website
Key Equipment Finance announced the launch of its streamlined new website that makes it easier for online visitors to find information about equipment financing. The new site is compatible with all mobile devices.
Read more...Date Posted April 16, 2012
Five Point Capital Completes Sale of Company
Five Point Capital announced the completion of its recent sale and transition of the company to David Gilbert, founder and 50% shareholder of Five Point Capital. In addition to acquiring full ownership in the company, Gilbert will assume the position of CEO.
Read more...Date Posted April 13, 2012
Diversified Restaurant Holdings Closes $16MM With RBS Citizens
Diversified Restaurant Holdings, the owner, operator and franchisor of Bagger Dave’s Legendary Burgers Tavern and a franchisee for Buffalo Wild Wings, said it entered into a new, seven-year senior secured term loan with RBS Citizens.
Read more...Date Posted April 13, 2012
Denny’s Establishes New Five-Year $250MM Bank Credit Facility
Denny’s said it has entered into a new five-year $250 million senior secured bank credit facility. Wells Fargo Securities, Regions Capital Markets and GE Capital Markets are the joint lead arrangers and joint bookrunners.
Read more...Date Posted April 13, 2012
FirstMerit Bank Business Credit Closes Three Transactions
FirstMerit Bank Business Credit announced it completed three transactions totaling $27.25 million to Colorbok, Summit Steel and Compass Chemical International.
Read more...Date Posted April 13, 2012
LEAF Becomes Gold Technology Partner With Digital Gateway
LEAF Commercial Capital said it has become a Gold Technology Partner of Digital Gateway, a dealer management software platform in the office equipment industry. As such, LEAF is releasing an automated “front end” for its customers that use Digital Gateway’s dealer management software.
Read more...Date Posted April 12, 2012
IBM Global Financing Offers Fee to Business Partners
IBM announced the launch of IBM PureSystems, a new family of integrated computing systems offered by IBM business partners that can earn a fee for their clients financing the new systems through IBM Global Financing.
Read more...Date Posted April 12, 2012
CIT Examines Equipment Leasing Opportunities in Asia
Over the last decade, the leasing market in Asia has evolved and businesses have become more sophisticated as they recognize the benefits of using operating leases, according to Adrian Pang, managing director, CIT Vendor Finance, Asia.
Read more...Date Posted April 11, 2012
United Capital Refinances Debt for Jiffy Lube Operator
United Capital Business Lending said it provided $3.5 million in financing to Jiffy Lube owner Griffin Fast Lube.
Read more...Date Posted April 11, 2012
Key EF Execs to Present at Solar Power Conference
Key Equipment Finance said that David ten Kroode, senior vice president of energy finance, and Doug Beebe, vice president of energy finance, will present at the “3rd Annual Solar Power Projects: A Focus on the Southeast” on April 12 in Atlanta.
Read more...Date Posted April 10, 2012
Capital One Closes $70MM for Signature HealthCARE
Capital One Bank announced it closed a three-year $70 million revolving line of credit for Signature HealthCARE, a provider of long-term care services in the Eastern and Southeastern United States.
Read more...Date Posted April 10, 2012
CNG Leasing Awarded “Moving America Forward” Recognition
CNG Leasing said it was recently presented with the Moving America Forward Award and will be on the national television show “Moving America Forward,” to discuss private equity funding and alternative fuel vehicles.
Read more...Date Posted April 10, 2012
CapStar Commercial Finance Opens Office in St. Louis
The Nashville Business Journal reported that CapStar Commercial Finance will establish a commercial loan office in St. Louis, MO. The Journal noted that the announcement follows recent openings in Louisville, KY and Charlotte, NC.
Read more...Date Posted April 9, 2012
AXIS Capital Announces Securitization Issuance of $85.9MM
AXIS Capital, an independent small- and mid-ticket equipment leasing and management company, announced the closing of a new securitization transaction, AXIS 2012-1, of $85.9 million.
Read more...Date Posted April 9, 2012
Delaney Wins Nomination, Resigns from CapitalSource
CapitalSource’s John Delaney won the Democratic nomination for Maryland’s 6th Congressional district. On the heels this victory, Delaney announced he will resign his executive chairman post, but will remain as board chairman.
Read more...Date Posted April 9, 2012
PNC: Small Business Owners Expect More Sales, Spending, Hiring
An upbeat outlook on sales will prompt nearly one in three U.S. small business owners to add employees over the next six months as their optimism returns to positive levels, according to the PNC Economic Outlook survey’s newest findings.
Read more...Date Posted April 9, 2012
CIT Awards CEO John Thain $8.2MM For 2011
According to a proxy filing, CIT said it awarded chief executive John A. Thain $8.22 million in compensation for 2011. CIT said the award was based on Thain’s performance opposite financial, operational and strategic goals.
Read more...Date Posted April 9, 2012
Varilease Announces $6.25MM of Recent Lease Approvals
Varilease Finance announced recent lease approvals totaling $6.25 million.
Read more...Date Posted April 9, 2012
BofA Hires 45 Small Business Bankers Across the Carolinas
Bank of America announced it is hiring 45 small business bankers across North and South Carolina to provide guidance and counsel to local small business owners.
Read more...Date Posted April 5, 2012
Nations EF Provides $32MM of Loans/Leases in March
Nations Equipment Finance said it provided $32 million of term loans and leases to 12 new and existing customers in March.
Read more...Date Posted April 5, 2012
United Rentals Expands Specialty Rental Operations
United Rentals said it expanded its specialty branch network with the opening of two locations in the northeastern United States and one in Texas that focus on temporary power and HVAC equipment for the construction and industrial markets.
Read more...Date Posted April 4, 2012
TAB Bank Provides $43.47MM in Credit Facilities in March
TAB Bank provided $43.47 million in credit facilities for several businesses during the month of March 2012, including 25 equipment loans.
Read more...Date Posted April 4, 2012
Boston Financial Provides Leaseline to Alloy Developer
Boston Financial & Equity said it recently provided an equipment leaseline to a Pacific Northwest startup developer of a lighter, strong alloy that can replace conventional metals.
Read more...Date Posted April 4, 2012
Oxford, Silicon Valley Bank Provide $15MM to NanoString
Oxford Finance announced a $15 million round of debt financing, which it awarded with Silicon Valley Bank, for NanoString Technologies, a provider of life sciences tools for translational research and developer of molecular diagnostics.
Read more...Date Posted April 4, 2012
Engs Commercial Finance Closes $200MM Recapitalization
Engs Commercial Finance, an independent commercial equipment finance company in the trucking, trailer and related markets, said it closed a comprehensive $200 million equity and debt recapitalization to provide long-term growth capital.
Read more...Date Posted April 3, 2012
PayNet: U.S. Small Business Lending Stalls in February 2012
PayNet reported that the pace of lending to small businesses appears to be at a standstill and virtually unchanged for the second straight month.
Read more...Date Posted April 3, 2012
Q2 Outlook: Steady but Slower Growth in Equipment Investment
The Equipment Leasing & Finance Foundation’s quarterly update to its 2012 Equipment Leasing & Finance U.S. Economic Outlook forecasts healthy growth year over year but notes that the projected growth for 2012 has slowed to 7% from the previous outlook of 9%.
Read more...Date Posted April 3, 2012
CIT to Reduce High Cost Debt by an Additional $500MM
CIT announced that it will redeem $500 million of its 7% Series C Senior Unsecured Notes maturing in 2017. Including this redemption, as well as the $1.6 billion redemption of notes it announced in mid-March, CIT will have eliminated or refinanced $24 billion of high cost debt since the beginning of 2010.
Read more...Date Posted April 3, 2012
BRD Sogelease Adds Cassiopae Front Office Leasing Software
Cassiopae, a global asset finance software provider, announced that BRD Sogelease has implemented Cassiopae Front Office Leasing software in Romania. BRD Sogelease offers financing for cars, commercial vehicles and industrial and construction equipment.
Read more...Date Posted April 3, 2012
Survey Reveals 15 Hottest Equipment Sectors
Medical equipment, oil/gas/energy and machine tools are the hottest equipment sectors in 2012, according to a recent survey of asset managers and consultants by the Independent Equipment Company in cooperation with the ELFA.
Read more...Date Posted April 3, 2012
Golub Capital Provides $27.5MM to DSI Renal for Acquisition
Golub Capital said it provided $27.5 million in subordinated notes and co-investment equity in connection with the acquisition of 54 Fresenius Medical Care clinics by DSI Renal, a portfolio company of Frazier Healthcare and New Enterprise Associates.
Read more...Date Posted April 3, 2012
Great American Group Expands Midwest Regional Team
Great American Group, a provider of asset disposition, valuation and appraisal services, has relocated to new office space in downtown Chicago due to growth in its Advisory and Valuation Services business in the Midwest, the company said.
Read more...Date Posted April 2, 2012
NACM’s Credit Managers’ Index Continues Positive Trend
The Credit Managers’ Index for March is trending in a positive direction and is yet more reinforcement for the notion that the economy is doing better and that the recovery may be real.
Read more...Date Posted April 2, 2012
EquipmentEngine Unveils Innovations at Annual ELFA Conference
EquipmentEngine Financial Services said it has unveiled a set of innovations at the ELFA’s Equipment Management conference, including EquipmentEngine Marketplace, which is generating over 3 million page views per year, and its EEFSCo Logistics Model.
Read more...Date Posted April 2, 2012
Hackman Capital Expands Acquisition/Disposition Platform
Hackman Capital, a privately held investment firm, said it is expanding its equipment platform. Hackman noted that it provides a ‘single-source’ solution for acquiring and disposing of real estate and/or industrial equipment.
Read more...Date Posted March 30, 2012
Fitch, S&P Rate GreatAmerica Leasing ABS
Fitch and S&P assigned ratings to the class A,B and C notes of GreatAmerica Leasing Receivables Funding’s $376.5 million receivables-backed note issuance series 2012-1.
Read more...Date Posted March 30, 2012
Fitch: Aircraft Lessors Increasingly Tap Capital Markets
Fitch Ratings noted that an uptick in bond issuance by aircraft lessors could signal that the capital markets are once again becoming a viable financing alternative for the sector.
Read more...Date Posted March 29, 2012
On Deck Reaches 1,000 Distribution Partners Milestone
On Deck, a technology platform that connects Main Street directly to capital, said it has reached a key growth milestone, reaching 1,000 distribution partners that work directly with small businesses to connect them to financing.
Read more...Date Posted March 29, 2012
AIG Commercial AF Provides $70MM Loan to Dakota Coal
AIG Commercial Asset Finance said it has provided a $70 million loan to Dakota Coal. Proceeds from the loan were used to refurbish a Bucyrus Erie walking dragline with a 124 cubic yard bucket.
Read more...Date Posted March 28, 2012
LEAF Partners With Operation Hope to Teach Financial Literacy
LEAF Commercial Capital announced its new partnership with Operation Hope. As one of Operation Hope’s financial industry partners, LEAF team members including key executives will participate in quarterly school events to teach financial literacy to students in grades 4 through 12.
Read more...Date Posted March 28, 2012
Pacific Western Bank Announces New Name for Leasing Division
Pacific Western Bank said that Pacific Western Equipment Finance is the new name of the former Marquette Equipment Finance. Pacific Western Bank acquired Marquette in January 2012.
Read more...Date Posted March 27, 2012
LeaseTeam Receives SSAE 16 Type II Certification
LeaseTeam, a solution provider in the equipment and finance marketplace, said it has received the SSAE 16 Type II (Statement on Standards for Attestation Engagements No. 16) certification, awarded by the American Institute of Certified Public Accountants (AICPA).
Read more...Date Posted March 27, 2012
CIT Bank Launches New High-Yield Savings Account
CIT Bank announced the launch of CIT Savings, its high-yield savings account product for consumers. CIT Savings, which requires no minimum balance to open the account and no maintenance fees, offers a current rate of 0.85% annual percentage yield for dedicated savers.
Read more...Date Posted March 27, 2012
SBA Announces Partnership for Small Businesses, Supply Chains
A new private-public collaboration will help small businesses strengthen their revenue streams by gaining access to more than $300 billion in combined supply chain spending by a consortium of 15 of America’s largest corporations, the U.S. Small Business Administration announced.
Read more...Date Posted March 26, 2012
Wells Fargo Provides $5MM to A/V Equipment Distributor
The Purchase Order Finance Group at Wells Fargo Capital Finance said it provided a $5 million facility to a California-based a distributor of audio and video broadcasting equipment.
Read more...Date Posted March 26, 2012
IronPlanet Reports Record 2011 Sales; Volume Tops $568MM
IronPlanet, an online marketplace for used heavy equipment, announced record annual sales in 2011, with gross merchandise volume exceeding $568 million, an increase of 15% over 2010.
Read more...Date Posted March 23, 2012
Capital Business Credit Expands Midwest Footprint
Capital Business Credit said Steven Fields has joined the organization to lead customer acquisition efforts for asset-based lending, factoring and trade finance programs in the Midwest.
Read more...Date Posted March 23, 2012
TAB Bank’s Leasing Division Provides Blue Bridge With $12MM
TAB Bank announced a commitment of $12 million to fund equipment leases originated by Blue Bridge Financial.
Read more...Date Posted March 22, 2012
CIT Arranges Revolving Credit Facility for Ernest Health
CIT Group announced that CIT Healthcare arranged a $20 million senior secured asset-based revolving credit facility for Ernest Health, an operator of inpatient rehabilitation and long-term acute care hospitals.
Read more...Date Posted March 22, 2012
IBM Offers Zero Percent Loans on New Analytics Solutions
IBM announced new consulting services and predictive analytics software for C-suite decision makers. The company noted that IBM Global Financing will provide zero percent loans to finance the software.
Read more...Date Posted March 22, 2012
Fitch Expects to Rate GreatAmerica Leasing $377.5MM ABS
Fitch Ratings said it expects to rate a GreatAmerica Leasing securitization encompassing a pool of $377.5 million in notes secured by leases primarily originated by the office equipment group.
Read more...Date Posted March 20, 2012
Pawnee Leasing Drives Chesswood’s Record 2011 Earnings
Chesswood Group announced record year-end results for 2011, posting pretax income of C$12.6 million, driven by double-digit growth of Pawnee Leasing’s portfolio.
Read more...Date Posted March 20, 2012
