Seventy years ago, a Polish immigrant named Leon Murstein bought a single taxicab and started the company that would become Medallion Financial. Today, with nearly $1 billion worth of loans under its belt, this family business is still about making dreams come true one taxicab at a time.... read more
After ten years in business, Priority Leasing understands that being number one means its customers always come first. Named by Inc. magazine as one of the 500 fastest growing U.S. companies, one can’t argue with its apparent success. In this month’s Profile of Success, Bob Glendon tells it like it is…... read more
How does an executive take the reins at a well functioning and highly structured global equipment finance company and bring it to the next level? Recently, the Monitor sat down with Adam Warner, president at Key Equipment Finance, to discuss his pathway to success, his vision for the organization as well as his thoughts on the industry. Thoughtful in offering his view on various issues, he nonetheless had a great deal to say…... read more
In the world of commercial finance, bigger is not always better. Just ask Mike Bennie and Gary Kester; the two former Marlin Leasing executives recently launched Latitude Equipment Leasing, a five-person shop based in Marlton, NJ.... read more
In October 2006, U.S. Bancorp announced it was combining five of its units into a Specialty Finance Division, providing increased and specialized service to its customers in those sectors. Sal Maglietta was appointed to run the division, which includes equipment finance, asset-based lending, healthcare banking, energy and food/agriculture banking. ... read more
With more than 28 years on the institutional side of the equipment finance and leasing business, industry veteran Bill Fite has switched gears. In June, he was hired by MagnetBank, a de novo Utah-chartered commercial bank focused exclusively on commercial lending, to establish a national equipment finance group.... read more
On February 28, Prudential Capital Group, an investment business of Prudential Financial, completed its acquisition of General Motors Acceptance Corporation’s Equipment Finance Division. The acquisition allowed Prudential Capital to enter an asset class that it had identified as a target for growth. Prudential instantly became a force in equipment finance and leasing.... read more
2018 saw the dialogue surrounding electric vehicles continue among both regular consumers and professional drivers. But according to Fleet Advantage’s Brian Holland, while electrification may become possible somewhere down the road, for now, many in the trucking industry remain dedicated to improving their diesel fleets.
Moritt Hock & Hamroff counsel Theresa Driscoll takes a look at the recent Second Circuit Momentive decision and uses it to examine the importance of clarity in drafting loan documents and understanding what loan documents say, especially when a lender needs to enforce its rights.