Economy

Solifi Report Reveals 84% Growth in Leasing Industry in Last Decade

According to Solifi’s 2023 Global Leasing Report, there was a promising 9.3% increase in new business volume in the leasing industry in 2021. The report also showed the leasing industry has grown 84% in the past decade. read more

Ritchie Bros. Auction Hits More Than $61MM in Houston

Ritchie Bros. attracted more than 14,500 bidders to compete for more than 6,500 items, generating more than $61 million in gross transaction value at its first Houston site auction of the year. read more

KBRA Assigns Preliminary Ratings to Alliance Funding Group’s First Equipment ABS

Kroll Bond Rating Agency assigned preliminary ratings to five classes of notes issued by Alliance Funding Group ABS I, (AFG 2023-1), which represents the first equipment ABS transaction to be sponsored by Alliance Funding Group. read more

Equipment Finance Industry Confidence Improves Again in February

According to the Equipment Leasing & Finance Foundation's February 2023 Monthly Confidence Index for the Equipment Finance Industry, confidence in the equipment finance market during this month reached a mark of 51.8, an increase from the January index of 48.5. read more

Wintrust Specialty Finance Posted $625MM in New Originations in 2022

Wintrust Specialty Finance, a division of Beverly Bank & Trust Company, a Wintrust Community Bank, closed the books on a banner year in 2022 headlined by more than $625 million in new originations. read more

Baystone Government Finance Reports Company Record Business Volume

Baystone Government Finance, part of KS StateBank and based in Manhattan, KS, reported a company record 2022 year in new business volume and remains optimistic about 2023 due to rising demand for equipment and vehicles from schools and counties across the United States.  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

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