Of Interest

CIT Provides $30MM for Arizona Apartment Complex Acquisition

CIT’s real estate finance business provided $30 million for the acquisition of Madison Grove Apartments, a 171-unit multi-family complex located in the north Phoenix area, by Brass Enterprises. read more

BrightReps Rebrands as FlowEQ, Expands Workflow Acceleration Platform

BrightReps rebranded as FlowEQ and unveiled an expanded solution that goes beyond customer support to help all teams that need to accelerate important recurring workflows. read more

M&T Bank Increases ABLE Equipment Rental’s ABL to $175MM

ABLE Equipment Rental increased its existing asset-based loan with M&T Bank as lead arranger and administrative agent. The $175 million facility is now comprised of a $125 million revolving line of credit along with the original $15 million term loan facility. read more

FIS Develops Embedded Finance Offering with Treasury Prime

FIS developed a new embedded finance offering in partnership with Treasury Prime to help financial institutions meet the growing need for digitally-native banking experiences. read more

United Rentals Invests in Ford Electric Trucks for North American Fleet

United Rentals entered a new agreement with Ford Pro to purchase all-electric vehicles for its North American rental and company fleets. The agreement initially includes orders for 500 F-150 Lightning trucks and 30 E-Transit vans, with 120 of the trucks and all 30 vans to be delivered in 2022. read more

Fleets Are Accelerating Use of Clean Vehicles

According to Gladstein, Neandross & Associates’ third annual State of Sustainable Fleets Market Brief, transportation fleets continued to report a resounding trend — their use of clean fuels and advanced vehicle technologies is rapidly progressing. read more

Penske and Shell Team Up for Electric Truck Charging Initiative

At the Advanced Clean Transportation Expo, Penske Truck Leasing and Shell Recharge Solutions North America revealed a new joint initiative to support light-duty electric vehicle charging at Penske locations. read more

ISM: Manufacturing Economic Activity Remains Positive Despite Labor Shortages

Economic activity in the manufacturing sector grew in April, with the overall economy achieving a 23rd consecutive month of growth, according to the latest Manufacturing ISM Report on Business from the Institute for Supply Management. read more

IDC Identifies 10 Technology Trends Transforming Consumer Behavior

As digital transformation takes root across the consumer ecosystem, businesses must expand and deepen their relationships with consumers to better understand their wants, needs and aspirations, according to future consumer research from International Data Corporation. read more

General Bank of Canada’s Mooney Wins 2022 Alexander S. Melvin Award

Gord Mooney, who is retiring from General Bank of Canada this month, was selected as the winner of the 2022 Alexander S. Melvin Award for inspirational and ethical leadership in financial services. read more

Small Businesses Owners Adapt to Supply Chain Disruption, Rising Inflation

According to Truist’s annual Small Business Pulse survey, supply chain issues have prompted small business owners to search for new supply sources, use local suppliers and adjust delivery schedules, while 90% of respondents have taken action to address for inflation. read more

First BanCorp Releases Inaugural Environmental, Social and Governance Report

First BanCorp, the bank holding company for FirstBank Puerto Rico, released its inaugural environmental, social and governance report for 2021. In addition, First BanCorp’s board of directors approved the company’s sustainability policy. read more

Blue Ridge Bankshares to Eliminate Single-Use Plastics by 2024

Blue Ridge Bankshares, the holding company of Blue Ridge Bank and BRB Financial Group, intends to phase out single-use plastics as part of its commitment to carbon neutrality by 2040. This policy will transition the company away from single-use plastic item by the end of 2024. read more

Supply Chain Order Volumes Tumble and Late Payments Derail Post-Covid Recovery

War in Ukraine and lockdowns in China have sent global order volumes tumbling in the first three months of 2022 according to new data from Tradeshift, a B2B payments network connecting commerce across supply chains. read more

CIT Northbridge Provides $145MM Credit Facility to Natural Gas Compression Systems

CIT Northbridge Credit, as advised by CIT Asset Management, served as sole lead arranger on a $145 million credit facility for Natural Gas Compression Systems. read more

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