Economy

Ritchie Bros. Generates More Than $73MM at Edmonton Auction

Ritchie Bros. attracted more than 16,500 bidders to compete for more than 10,000 items, generating more than C$99+ million ($73 million) in gross transaction value at its fifth Edmonton, AB, auction of the year. read more

TopMark Funding Closes Q3 with Record-Setting Growth

TopMark Funding, a funding destination for commercial vehicle dealerships and small to midsized fleets, experienced record-setting growth as it closes out the last three months of the year. In Q3/22, TopMark Funding exceeded its revenue goal by 27%. read more

Phoenix Lending Survey: Inflation is Driving Economic Conditions and Consumer Spending

Phoenix Management’s “Lending Climate in America” survey results reveals the impact inflation is having on global economic conditions and consumer spending. read more

Merchants Financial Group Achieves $22.11MM in Earnings in First Three Quarters of 2022

Merchants Financial Group achieved net income of $22,114,264 through the first three quarters of 2022, according to Gregory M. Evans, president and CEO of the company.  read more

LeasePoint Funding Group Generates Over $35MM in Q3/22

LeasePoint Funding Group generated more than $35 million in originations during Q3/22, marking a 300% increase compared to the same period last year. Four new team members helped facilitate the Q3 increase. read more

MMP Capital Funded More Than $75M in Q2/22 and Q3/22

MMP Capital exceeded $75 million in funding for customers in both Q2/22 and Q3/22 alone has funded more than $200 million in 20222 overall.  read more

Encina Equipment Finance Provides $15MM Lease Line to NA Supply Chain Services Company

Encina Equipment Finance provided a $15 million lease line to a North American supply chain services company to finance new tractors and trailers. read more

September Small Business Loan Approval Rates Rise for Most Lenders Except Larger Banks

Small business loan approval percentages at small banks (less than $10 million in assets), institutional lenders, alternative lenders and credit unions increased in September compared with August, while approvals at big banks (more than $10 million in assets) declined, according to Biz2Credit. read more

Regents Capital Enters $100MM Credit Facility with Bank OZK

Regents Capital entered a three-year, $100 million revolving credit facility with Bank OZK, a regional bank based in Little Rock, AR.  read more

Equipment Finance Industry Hits High of $1.16T in 2021

According to a new study released by the Equipment Leasing & Finance Foundation, the size of the equipment finance industry rose to an all-time high of $1.16 trillion in 2021. read more

Verdant Commercial Capital Reaches 5th Year Anniversary, Projects $600MM Rise in Originations

Verdant Commercial Capital celebrated its fifth anniversary recently. Verdant is also positioned to reach nearly $600 million in annual originations by the end of 2022. read more

ACT Research: September Class 8 Orders Rise

According to ACT Research’s State of the Industry: Classes 5-8 Vehicles report set to be released in mid-October, preliminary NA Class 8 net orders in September were 53,700 units, while NA Classes 5-7 net orders were 26,600 units. read more

Balboa Capital Reports U.S. Small and Midsize Companies Anticipate Minimal Changes in Q4

According to a Morning Consult survey sponsored by Balboa Capital, a division of Ameris Bank, most of business decision-makers of U.S. small to midsize companies expect their sales to stay the same or grow in the fourth quarter of this year. read more

KBRA Assigns Preliminary Ratings to NMEF Funding 2022-B

Kroll Bond Rating Agency assigned preliminary ratings to four classes of notes issued by North Mill Equipment Finance funding 2022-B, (NMEF 2022-B) in an equipment ABS transaction. read more

Onset Financial Provides Record Breaking $150MM in Funding for Q3

Onset Financial provided $150 million in fundings, marking its best third quarter thus far. read more

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Terry Mulreany
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