News

North Mill Equipment Finance Raises $20K in Charitable Contributions

North Mill Equipment Finance raised $20,000 in charitable contributions during the 2023 holiday season. The proceeds will be distributed to Future 5, a platform that supports under-resourced high school students in Stamford, CT, and Lucky Dog Refuge, a retreat for dogs in dire need of care. read more

Icelandair Signs Lease Agreement for Airbus A321LR Aircraft with SMBC

Icelandair signed a long-term lease agreement for one Airbus A321LR aircraft scheduled to be delivered in Q1/26 with SMBC. This will be the fifth A321LR aircraft Icelandair has leased from SMBC. read more

US Economic Activity in Manufacturing Sector Contracted Again in December

Economic activity in the manufacturing sector contracted in December for the 14th consecutive month following a 28-month period of growth, according to the Manufacturing ISM Report on Business from the Institute for Supply Management. read more

eCapital Closes $245MM Increase in Bank Line Supporting ABL Group

eCapital closed a $245 million increase to the syndicated bank line supporting its asset-based lending group. With this latest increase, eCapital’s total bank facility commitments across its three syndicated bank lines now exceeds $1.6 billion. read more

Ares Commercial Finance Adds Maccubbin as Principal for Business Dev and Underwriting Teams

Ian Maccubbin joined Ares Commercial Finance’s business development and underwriting teams as a principal. Maccubbin joined Ares Commercial Finance with 18 years of experience in the financial industry, most recently as a principal on the Carlyle Group’s private credit team. read more

Parker Hudson Names Pickard, Ravi and Weiss Partners

Law firm Parker, Hudson, Rainer & Dobbs admitted real estate attorney Wes Pickard, healthcare attorney Tara Ravi and bankruptcy attorney Matthew M. Weiss to the partnership of the firm. read more

Dext Capital Launches Technology Vendor Division, Hires Tomei, Garscin and Scott

Dext Capital established a technology vendor division dedicated to meeting the requirements of IT manufacturers and other technology solutions providers. This new division will be led by Ralph Tomei, accompanied by Jacque Garscin and Heather Scott. read more

PNC Appoints Sheenan SVP and Director of Women’s Business Development

PNC appointed Aimee Sheenan senior vice president and director of women’s business development, according to LinkedIn. Sheenan has spent nearly 19 years with PNC, previously serving as senior vice president and corporate banking corporate sales development manager. read more

Used Heavy-Duty Truck Inventory Levels, Asking Values and Auction Values All Decline in December

According to Sandhills Global’s latest marketplace reports, used heavy-duty trucks in Sandhills marketplaces continued to face challenges in December, as inventory levels, asking values and auction values all declined month over month. read more

JPMorgan: Business Leaders Split on Recession Forecasts as Economic Outlooks Moderate

Small and midsize business leaders are sharing a more balanced outlook heading into 2024 while pulling back from previous predictions of a near-term recession, according to JPMorgan Chase’s 2024 Business Leaders Outlook survey. read more

Barclays Appoints Voegeli Head of Investment Banking for Canada

Barclays appointed Ryan Voegeli head of investment banking for Canada. Voegeli has 20 years of investment banking experience and joined Barclays from CIBC Capital Markets, where he was head of global diversified industries investment banking. read more

Utica Equipment Finance Completes $10.9MM in Transactions in December 2023

Utica Equipment Finance completed $10.9 million in transactions in December, including a $6.7 million capital lease to two coal mines in West Virginia secured by trucks, dozers, excavators and wheel loaders. read more

ACT Research: Class 8 Truck Orders Fell in December to 26,500 Units

December preliminary North America Class 8 truck net orders reached 26,500 units, falling by 15,000 units from November, according to ACT Research.  read more

SFNet: Asset-Based Lending Market Held Steady in Q3/23

The asset-based lending market held steady in Q3/23 amid positive developments in the U.S. economy, such as easing inflation, strong consumer spending and a solid job market, according to data released by the Secured Finance Network. read more

Star Hill Financial Adds New VPs for Sales Team

Star Hill Financial, an independent equipment and franchise finance company, appointed Kimberly Howard and Robert Haynes to vice president of sales positions within the organization. read more

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