Industry

LeaseAccelerator’s PureLease Marketplace Reaches $1.5B in Sourced Lease Financing

LeaseAccelerator’s PureLease Marketplace, a bidding platform for equipment leases, has sourced more than $1.5 billion in lease financing. read more

First Citizens Bank Provides Credit Facility to Signature Brands

First Citizens Bank’s asset-based lending group, part of the CIT division, provided a revolving credit facility to Signature Brands, a Ocala, FL-based provider of dessert decoration and seasonal celebration products. read more

Small Business Loan Approvals Stall Again in May

According to the latest Biz2Credit Small Business Lending Index, small business loan approval   percentages at big banks dipped from 13.5% in April to 13.4% in May. Meanwhile, approval ratings at small banks remained at 18.7%. read more

Honour Capital Provides $1.3MM Operating Lease to Flow Control Products Business

Honour Capital provided $1.3 million in an operating lease arrangement to a flow control products company for a supply chain solution to automate warehouse processes.   read more

Secured Financing Volume Reached Nearly $4.9T in 2022

According to a new study from the Secured Finance Network, total secured financing volume for U.S. commercial businesses in 2022 reached nearly $4.9 trillion. read more

Bank of Texas Expands to San Antonio Market

Bank of Texas, a division of BOK Financial, expanded its operations into the San Antonio market, marking the bank’s first move outside of its established operations in Dallas, Houston and Fort Worth, TX. read more

Five Star Bank Expands into San Francisco Bay Area

Five Star Bank expanded into San Francisco, leveraging an existing team of Bay Area professionals led by DJ Kurtze, who will serve as Five Star Bank’s San Francisco Bay Area region president. read more

Commercial Chapter 11 Filings Increased 105% in May

According to Epiq Bankruptcy, commercial Chapter 11 filings increased 105% in May 2023 to 680 versus the 332 filings in May 2022. Nearly half of the Chapter 11 filings were made by corporate subsidiaries. read more

Baystone Government Finance Launches New Website

Baystone Government Finance launched a new website to connect equipment vendors, brokers, communities and select nonprofits with tax-exempt municipal leases and other financing options for essential equipment and real property. read more

QuickFi Wins Best Embedded Finance System for Lending at 2023 Banking Tech Awards

QuickFi by Innovation Finance USA recently won the award for Best Embedded Finance System – Lending at the 2023 Banking Tech Awards USA by Finovate. read more

APPROVE Receives $3MM in Series A Funding, Plans to Triple Workforce

APPROVE will bring as many as 50 new technology jobs to Wilmington, NC, in the coming months after completing a $3 million Series A funding round with support from Cofounders Capital, Live Oak Ventures and VentureSouth. read more

Société Générale Equipment Finance Chooses Odessa’s Platform to Streamline Operations

Société Générale Equipment Finance selected Odessa’s platform, which is delivered through Odessa’s full-service cloud solution, to streamline operations and support continued global growth. read more

NFS Leasing Extends Financial Support for Velico Medical

NFS Leasing extended its financing support to Velico Medical, a clinical-stage medical and scientific technology company that is working to reduce the number of preventable deaths caused by bleeding. read more

Mitsubishi HC Capital Canada Provides Floorplan Facility to Transportation Company

Mitsubishi HC Capital Canada, a subsidiary of Mitsubishi HC Capital America, designed a C$15 million ($10.99 million) floorplan financing solution for a transportation solutions provider to expand its physical presence across Canada and maximize its working capital. read more

Inovatec to Exhibit Cloud-Based Lending Solutions at NAF’s Non-Prime Auto Financing Conference

Inovatec Systems, a provider of cloud-based software, will exhibit its loan management platform at the 27th annual National Automotive Finance Association (NAF) Non-Prime Auto Financing Conference. read more

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Terry Mulreany
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