Economy

Unifi Equipment Finance Surpasses $1.5B in New Originations

Unifi Equipment Finance, a provider of equipment financing solutions for small to medium-sized businesses, announced it surpassed $1.5 billion in new originations. read more

Federal Reserve Boosts Interest Rates, Says ‘Inflation Has Eased Somewhat’

The Federal Reserve announced that it will raise the target range for the federal funds rate to between 4.5% and 4.75%, marking a quarter point increase. The move was less drastic than its seven rate increases in 2022, with all but one of those lifting rates by three quarters of a point. read more

Utica Equipment Finance Completes $8MM Capital Lease for Wood Processing Company

Utica Equipment Finance completed an $8 million capital lease transaction for an equity group owned wood processing company with multiple locations in the South. read more

Honour Capital Provides $5MM in Financing to Upper Midwest Construction Company

Honour Capital provided $5 million in financing to a construction company in the upper Midwest to acquire construction equipment. read more

PNC Issues Second Green Bond For $1.25B

PNC Financial Services Group announced it closed its latest green bond issuance. The proceeds will fund eligible projects that promote a transition to a low-carbon economy and offer sustainability benefits across four categories. read more

CoBank: Inflation is Beginning to Loosen its Grip

According to a report from CoBank, the U.S. economy will progressively slow through the first half of 2023 as fears of a recession remain high. However, with the unemployment rate at a 53-year low and inflation trending lower, forecasts are turning at least a little less gloomy. read more

Monthly Expenditures at Small Businesses Fell by 5% at Height of Inflationary Period in 2022

According to a new study from Biz2Credit, during the recent period of highest inflation, the average monthly expenditure of small businesses fell by 5% from $11,401 in Q1/22 to $10,884 in Q3/22. read more

Equipment Finance Industry Confidence Increases in January

According to the Equipment Leasing & Finance Foundation’s January 2023 Monthly Confidence Index for the Equipment Finance Industry, overall confidence in the equipment finance market is 48.5, an increase from the December index of 45.9. read more

More Than 30% of Small Business Owners Applied for SBA Loans in 2022

According to a survey from Balboa Capital that asked small business owners about their Small Business Administration (SBA) loan borrowing practices and volumes in 2022, 31.25% of small business owners applied for SBA loans in 2022 and 61.9% of SBA loan requests were approved. read more

Quality Equipment Finance Reports Record Originations for 2022

Quality Equipment Finance experienced dramatic growth of 33% in origination volume year over year in 2022. Closed transactions totaled more than $125 million and were 99% sourced through third-party originators. read more

MMP Capital Funds $297MM In 2022

MMP Capital, a commercial financing company specializing in equipment financing, leasing and unsecured capital, successfully funded $297 million for customers in 2022, a 45% increase year over year compared to 2021. read more

Financial Partners Group Reports 33% Y/Y Growth in 2022

Financial Partners Group (FPG) celebrated another year of record growth and expansion, closing 2022 with $490 million in origination volume. FPG also reported a 59% increase in its workforce in 2022. read more

Golub Capital Reports Positive Surprise in US Middle Market Growth in Q4/22

Middle market private companies in the Golub Capital Altman Index experienced year-over-year earnings growth of 9% and revenue growth of 11% during the first two months of Q4/22. read more

PC Shipments Continued to Slump in Q4/22

Global shipments for traditional PCs fell below expectations in Q4/22, as 67.2 million PCs were shipped, down 28.1% from the prior year, according to preliminary results from the International Data Corporation (IDC) Worldwide Quarterly Personal Computing Device Tracker. read more

AP Equipment Financing Announces Record Funding Volume in 2022

AP Equipment Financing funded a company record $327 million in 2022, representing 38% year-over-year growth. AP also managed a portfolio of nearly 13,000 contracts and $635 million of receivables. read more

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