Of Interest

CIT Provides $29.9MM in Financing for Acquisition of Industrial Buildings

The real estate finance business of CIT, a division of First Citizens Bank, provided a $29.9 million loan for the acquisition of a portfolio of industrial buildings in Chicago by Aminim Group. read more

Newsweek Names United Rentals One of America’s Most Trusted Companies

Newsweek named equipment rental company United Rentals one of America’s Most Trusted Companies of 2022, ranking it first in its category. read more

Fleet Advantage to Help Fleets Certify Greenhouse Gas Output for New SEC Rule

Fleet Advantage will help corporate truck fleets certify their greenhouse gas emissions output, which was recently mandated under a proposed rule issued by the Securities and Exchange Commission. read more

QuickFi’s Verhelle Discusses Importance of APIs on What the Fintech? Podcast

Bill Verhelle, CEO and founder of QuickFi, recently sat down with FinTech Futures for its What the FinTech? podcast to discuss the importance of APIs and their key role in digital banking. read more

Ritchie Bros. Sells More Than $79MM of Equipment at Auction in Fort Worth, TX

Ritchie Bros. generated more than $79 million in gross transaction value at its recent auction in Fort Worth, TX. The three-day online auction attracted more than 14,700 bidders from 68 countries to compete for more than 4,600 items from more than 770 consignors. read more

Herc Rentals Acquires Cloverdale Equipment Company

Herc Rentals entered a purchase agreement to acquire Cloverdale Equipment Company. The transaction, which is subject to customary closing conditions and regulatory approvals, is expected to close in Q2/22. Terms were not disclosed. read more

Textron Acquires Electric Aircraft Company Pipistrel

Textron entered into an agreement to purchase Pipistrel, a provider of electrically powered aircraft based in Slovenia and Italy. read more

Spending on AI to Grow 26% and Reach $120B by 2025

Spending on artificial intelligence in the United States will grow to $120 billion by 2025, representing a compound annual growth rate of 26% during the 2021 to 2025 forecast period, according to International Data Corporation. read more

Federal Reserve Decides to Boost Federal Funds Rate

On Wednesday, the Federal Reserve unveiled its plan to increase the federal funds rate to 0.25% to 0.5%. According to the Wall Street Journal, the Fed last increased interest rates in 2018. read more

SBA to Extend Deferment for Payments on COVID EIDL Program Loans

Isabella Casillas Guzman, head of the U.S. Small Business Administration, directed the agency to provide additional deferment of payments for existing COVID Economic Injury Disaster Loan program borrowers for a total of 30 months from inception on all approved EIDL loans. read more

Economic Activity in Hospital Subsector Grows in February Despite Drop in Some Metrics

According to the Institute for Supply Management, economic activity in the hospital subsector grew in February for the 21st consecutive month despite a 7.2% drop in the Hospital PMI, putting February’s reading at its lowest mark in more than a year. read more

Airborne Capital Deploys LeaseWorks’ Aeris Asset Management Software

Airborne Capital, a specialist aircraft lease and asset manager, deployed LeaseWorks’ Aeris Asset management software to streamline its aircraft portfolio management. read more

Sunbelt Rentals Launches New Mobile App for Equipment Rental Customers

Sunbelt Rentals, a North American equipment rental company, launched a new mobile app, which will allow customers to manager all aspects of their rental experiences. The new app is available on phones and tablets through the Apple App Store and Google Play. read more

TAB Bank Launches New Online and Mobile Platform

TAB Bank launched a new online and mobile platform. The platform’s new external interface and back-end functionality were designed to create a consistent experience between mobile and online banking and to move TAB Bank toward a banking-as-a-service model. read more

Profits for Women-Owned Businesses Decreased by 26% in 2021

Biz2Credit’s annual women-owned business study found that profits for women-owned businesses dropped 26% in 2021 from 2020, while average annual revenues dipped 4%. Additionally, the study found that operating expenses increased, which was the primary reason profits fell in 2021. read more

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