Of Interest

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

Midland Equipment Finance’s Van Etten Wins Award from ASU Alumni Association

Arizona State University’s alumni association named Frederick Van Etten, president of Midland Equipment Finance, to the Sun Devil 100 Class of 2022, an annual awards program that recognizes the fastest-growing alumni-owned or -led organizations. read more

Merchants Financial Group Approves Stock Split, Elects New Directors

Merchants Financial Group approved a three-for-one stock split and elected Molly Jungbauer, CEO and co-owner of Hollstadt Consulting, and James Rogers III, chief business development officer for Mayo Clinic, to three-year terms on the company’s board of directors. read more

Small Business Loan Approval Rates from Most Lenders Rise in March

Small business loan approval rates at big banks (more than $10 million in assets) rose from 14.7% in February to 14.9% in March, and approval rates at small banks (under $10 billion in assets) increased from 20.5% in February to 20.6% in March, according to Biz2Credit. read more

Fleet Advantage’s Davis and Hall Earn CTP Accreditation

Don Davis, senior vice president of national accounts for Fleet Advantage, and Wesley Hall, director of fleet services for Fleet Advantage, both achieved the Certified Transportation Professional (CTP) designation from the National Private Truck Council. read more

BankUnited Opens Corporate Banking Office in Atlanta, Gordon to Lead

BankUnited opened a new corporate banking office in Atlanta, representing a renewed effort to expand outside of its core markets of Florida and New York, and hired Adam Gordon to lead the new office as market executive and corporate banking team leader. read more

JetBlue Proposes Acquisition of Spirit for $3.6B

JetBlue submitted a proposal to acquire Spirit Airlines for $3.6 billion. JetBlue, which believes it is offering a “superior proposal” compared with Spirit’s merger agreement with Frontier Airlines, intends to fund the transaction with cash on hand and debt financing led by Goldman Sachs. read more

Payment Fraud Activity Declines in 2021

According to the 2022 AFP Payments Fraud and Control Survey, 71% of organizations reported being victims of payment fraud activity in 2021, lower than the 81% reported in 2019 and the lowest percentage recorded since 2014. read more

CIT Arranges Financing for Kenneth Cole Productions

CIT’s asset-based lending business served as lead arranger on financing for Kenneth Cole Productions, a men’s and women's fashion brand. read more

IDC: Cloud Infrastructure Spending Increases 8.8% in 2021

According to International Data Corporation, spending on compute and storage infrastructure products for cloud infrastructure, including dedicated and shared environments, increased 8.8% year over year in 2021 to $73.9 billion. read more

Inovatec Partners with Point Predictive to Create Efficiencies for Auto Lenders

Inovatec Systems, a provider of cloud-based software solutions for automotive lending institutions, formed a partnership with San Diego’s Point Predictive, a provider of artificial intelligence solutions for the lending industry. read more

Fleet Advantage’s Antonellis and Davis Named 2022 ‘Pros to Know’

Supply & Demand Chain Executive recognized Brian Antonellis, senior vice president of fleet operations at Fleet Advantage, and Don Davis, senior vice president of national accounts at Fleet Advantage, as 2022 “Pros to Know.” read more

Forbes Names EquipmentShare One of America’s Best Startup Employers

Forbes and Statista named EquipmentShare, an equipment and digital solutions provider serving the construction industry, one of the top employers in Missouri on the 2022 list of America’s best startup employers. read more

CIT Provides $35.6MM for Acquisition of Massachusetts Residential Complexes

CIT’s real estate finance business provided $35.6 million for the acquisition of two multifamily residential properties in the North Shore area of Massachusetts. The name of the borrower was not disclosed. read more

Mitsubishi HC Capital America Identifies Key Reasons to Transition to Electrification

Mitsubishi HC Capital America provided five key reasons why making the move to electrification makes good business sense, including favorable costs, incentives, new revenue streams and market opportunities for battery electric vehicles and charging infrastructure. read more

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