Industry

Amur Equipment Finance Hires Team to Expand Vendor Focus, Opens New Headquarters

Amur Equipment Finance recently welcomed industry veteran Jason Wise and his team of equipment finance professionals to its nationwide, vendor-focused salesforce. Amur also recently opened its new, purpose-built Grand Island, NE, headquarters. read more

Workhorse Enters into Strategic Agreements with Hitachi

Workhorse Group, an American technology company focused on providing sustainable and cost-effective electric drone-integrated vehicles to the last-mile delivery sector, entered newly-formed strategic agreements with both Hitachi America and Hitachi Capital America. read more

Ritchie Bros. to Sell Hundreds of Truck Tractors in BJ Services Bankruptcy

Ritchie Bros. has received bankruptcy court approval to sell hundreds of truck tractors on behalf of BJ Services, North America's largest pure-play pressure pumping services company. read more

Monitor Live+ Charting the EF Course Through the Pandemic & Beyond Open for Registration

Registration is open for part of one Monitor’s next two-part Live+ event. Part one, “Charting the EF Course Through the Pandemic & Beyond,” will be held on Thursday, Sept. 10 at 1:00 p.m. ET featuring Diane Croessmann, Vince Belcastro and Will Perry. read more

UMB Capital Finance Provides $20MM Credit Facility to SOAR Transportation Group

UMB Capital Finance, utilizing its accounts receivable finance business channel, provided a $20 million credit facility increase to an existing client, SOAR Transportation Group, to assist in funding several acquisitions as well as for general working capital purposes. read more

Ritchie Bros. Sells More Than $57MM of Equipment in Houston, Breaks Site Bidder Record

This week in Houston, Ritchie Bros. sold more than 5,300 equipment items and trucks for more than $57 million, setting new site records for total gross transactional value for an August auction and total number of registered bidders. read more

Economic Recovery From COVID-19 Will Be Checkmark-Shaped

Internationally renowned economist, Elliot F. Eisenberg, Ph.D predicted that U.S. GDP recovery will be checkmark-shaped in Monitor’s latest Live+ event, “U.S. Economy: Navigating the Signs & the Journey Back,” which was sponsored by IDS and held on Tuesday, Aug. 25. read more

CIT Leads $266MM Financing for Prospero 2 Solar Project

CIT Group's Power and Energy business served as coordinating lead arranger on a $266 million financing for Longroad Energy’s 331-megawatt Prospero 2 solar project in Andrews County, Texas. read more

Resolvion Opens New Carlsbad, CA Facility

Resolvion, a repossession management and skip-tracing services provider, recently moved into a larger facility in Carlsbad, CA, to support its growth in the marketplace. The new space is comprised of a 13,000 square feet office space with new technological infrastructure. read more

Channel Partners Capital Makes Inc. 5000 List for Eighth Consecutive Year

Inc. ranked Channel Partners Capital No. 1,507 among the 5,000 fastest-growing private companies in the U.S, marking the eighth consecutive year Channel Partners Capital has made the Inc. 500/5000 list. read more

ELFA: July New Business Volume Down 3% Y/Y, Up 3% M/M

According to the Equipment Leasing and Finance Association, overall new business volume for the equipment finance industry in July was $9.1 billion, down 3% year over year from new business volume in July 2019. Volume was up 3% month to month from $8.9 billion in June. read more

Crestmark Secures More than $47MM in Commercial Financing in H1/August

Crestmark Equipment Finance provided $524,700 in one new lease transaction and Crestmark Vendor Finance provided $8,165,144 in 96 new lease transactions in the first half of August. As a whole, Crestmark provided more than $47 million in commercial financing. read more

Encina Equipment Finance Provides $38MM Equipment Lease to Auto Component Manufacturer

Encina Equipment Finance has provided a $38 million equipment lease to a leading automotive component manufacturer.  The five-year lease is being used to finance new equipment. read more

Amerisource Closes $5.5MM Revolving Line/Equipment Term Loan Facility for Manufacturer

Amerisource Business Capital closed and funded a $5.5 million credit facility for a metal stamping firm based in Ohio. The proceeds will be used to refinance existing bank debt.  read more

Onset Financial Ends July 2020 with More Than $100MM in YTD Fundings

Onset Financial eclipsed the $100 million benchmark for 2020 new fundings in July. Onset unveiled a new strategy to drive growth and offered a COVID Relief Program to existing customers, once again setting the company apart as a disruptor in the industry. read more

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