Industry

Equipment Finance Industry Confidence Holds Steady in June

According to the Equipment Leasing & Finance Foundation’s June 2021 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI), overall confidence in the equipment finance market is 71.3, which is steady with the May index of 72.1.   read more

Regions Bank Provides $25MM Revolving Credit Facility to Dext Capital

Dext Capital, an Oregon-based independent equipment finance company focused on lending to the medical industry, closed a $25 million corporate revolving credit facility with Regions Bank.  read more

Amur Equipment Finance Wins Business of the Year Award in Grand Island, NE

The Grand Island Area Chamber of Commerce in Nebraska named Amur Equipment Finance the 2021 Business of the Year. The chamber of commerce presented the award to Amur on June 10 at its annual meeting. read more

Pivotal Capital Secures Senior Funding Facility

Pivotal Capital, a wholly-owned subsidiary of Axis Auto Finance, secured a funding facility with a Canadian Schedule 1 bank. The facility includes a purchase facility with capacity of up to $40 million in annual purchases and a warehouse facility with a limit of $5 million. read more

CIT Arranges $33.2MM in Financing for Medical Office Building

CIT’s healthcare finance business served as sole lead arranger on a $33.2 million loan to finance the acquisition of a medical office building in Brooklyn, NY. read more

First Commonwealth Enters Equipment Finance Business, Hires Boyer to Run Unit

First Commonwealth Bank will enter the equipment leasing and finance business with the addition of Rob Boyer to its executive team as executive vice president of First Commonwealth Bank and president of First Commonwealth Equipment Finance Group. read more

LEAF’s Speranza to Conduct Master Talk on Executive Communication for STRIPES Leadership Program

STRIPES Leadership Program announced that industry leader Michelle Speranza — senior vice president and chief marketing officer at LEAF Commercial Capital — will lead a Master Talk titled Executive Communication: Key to Expanding Reach, Influencing Others, and Leading Through Uncertainty and the Unknowable. read more

Crestmark Equipment Finance Provides Nearly $12MM in Transactions in H2/May

Crestmark Equipment Finance provided $11,977,955 in 13 new transactions and Crestmark Vendor Finance provided $3,492,993 in 37 new transactions in the second half of May. read more

Fleet Advantage Projects More Than $31K in Savings for Fleets Upgrading to 2022 Models

Fleet Advantage will be providing fleet analysis at the National Private Truck Council’s Annual Conference and Exhibition. According to the company, fleet operators can realize a first-year per-truck savings of $31,692 when upgrading from a 2016 sleeper truck to a 2022 model. read more

Ritchie Bros. Reports Continued Strong Pricing Across Equipment Categories

According to Ritchie Bros.' June Market Trends Report, U.S. truck tractor pricing was up 23% year over year (for the three months ending May 31), while medium earthmoving and vocational truck prices in the United States were up 21%. read more

Balboa Capital Closes $50MM Corporate Note Financing

Balboa Capital closed a $50 million corporate note financing provided by a consortium of U.S.-based institutional investors. Balboa Capital intends to use the proceeds from the issuance to refinance a portion of corporate debt and for general working capital purposes. read more

Biz2Credit: May Small Business Loan Approval Rates Increase as PPP Ends

Small business loan approval percentages at big banks (or those with more than $10 billion in assets) climbed slightly from 13.4% in April to 13.5% in May, according to the latest Biz2Credit Small Business Lending Index. In addition, approvals at small banks jumped from 18.2% in April to 18.7% in May. read more

Global Ship Lease Acquires 12 Containerships from Borealis Finance for $233.9MM

Global Ship Lease agreed to purchase 12 containerships from Borealis Finance for an aggregate purchase price of $233.9 million. read more

KKR Provides $150MM Credit Facility to Jet Edge International

Credit funds and accounts managed by KKR agreed to provide a credit facility of up to $150 million to Jet Edge International, a provider of full-service private aviation that operates a fleet of managed Challenger and Gulfstream aircraft in the United States. read more

NCPA Awards TEQlease Capital Sole Source Lease Financing Contract for Members

The National Cooperative Purchasing Alliance (NCPA), through its Region XIV Education Service Center, awarded TEQlease Capital its annual contract for term financing programs and related services based on TEQlease’s RFP response. read more

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