Of Interest

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

CIT Reorganizes Structure of Factoring Business

CIT reorganized its commercial services factoring business, with Marc Heller, president of CIT commercial services, now reporting directly to Peter Bristow, president of First Citizens Bank, and Michael Hudgens now leading commercial services as managing director and group head. read more

Ritchie Bros. Sells More Than $95MM in Equipment at Recent Auctions

Ritchie Bros. attracted more than 26,250 combined bidder registrations and logged more than $95 million in combined gross transaction value at its recent multi-day online auctions in Edmonton, AB, and in the Rocky Mountain region. read more

Manufacturing Economic Activity Grows in March Amid Growing Demand

Economic activity in the manufacturing sector grew in February, with the overall economy achieving a 21st consecutive month of growth, according to the latest Manufacturing ISM Report on Business from the Institute for Supply Management. read more

KeyBank to Utilize RMA’s Commercial Credit Risk Benchmarking Service

KeyBank became the latest institution to join the Risk Management Association’s Credit Risk Navigator, which is powered by Automated Financial Systems, a provider of software solutions and services to financial institutions. read more

KBRA: Russia’s Invasion of Ukraine Will Negatively Impact Aircraft Leasing

According to Kroll Bond Rating Agency, the impact of Russia’s invasion of Ukraine on aircraft lessors and airlines will be felt throughout Europe and globally given the international role of lessors who lease aircraft to airlines all over the world, including in Russia, Ukraine and neighboring countries. read more

Services Economic Activity Retreats Slightly in February But Remains in Growth Mode

According to the Institute for Supply Management, economic activity in the services sector grew in February for the 21st month in a row despite what Anthony Nieves, chair of the ISM’s services business survey committee, called a “pullback” in some indexes. read more

CIT Provides $39.6MM in Financing for Industrial Facility in Baltimore

CIT’s real estate finance business served as sole lead arranger on a $39.6 million loan to an affiliate of Clarion Partners to finance the acquisition and development of Southside Logistics Center, an industrial facility in Baltimore. read more

Inovatec to Exhibit at AFSA Conference in Las Vegas

Inovatec Systems, a provider of cloud-based loan origination, management and servicing solutions, will participate at the American Financial Services Association’s 2022 Vehicle Finance Conference and Expo in Las Vegas. read more

Tiger Group and GA Global Partners to Sell Assets for Dalton Crane

Tiger Group and GA Global Partners are conducting a court-ordered sale of the entire operations and assets of fully-staffed Dalton Crane, allowing heavy equipment rental companies to bid on the assets of the business, which serves customers in Texas and across the Southwest. read more

Ritchie Bros. Sells More Than $213MM of Equipment at Recent Auction in Orlando, FL

Ritchie Bros. sold more than 11,200 items for $213 million during its recent six-day equipment auction in Orlando, FL. read more

Dedicated Financial GBC Launches New Website

Reflecting its recent rebrand, Dedicated Financial GBC launched a new website. read more

Trinity Capital Provides $25MM in Growth Capital to Cepton

Trinity Capital, a specialty lending company that provides debt, including loans and equipment financing, provided a $25 million growth capital facility to Cepton Technologies, a provider of lidar-based solutions for automotive, smart cities, smart spaces and smart industrial applications. read more

New Orders for Durable Goods Increase 1.6% in January

According to the U.S. Census Bureau’s January durable goods report, new orders for manufactured durable goods in January increased $4.3 billion, or 1.6%, to $277.5 billion. read more

Cross River and Sunstone Credit Partner to Provider Solar Financing to Small Businesses

Cross River Bank, an infrastructure provider that offers embedded financial solutions, and Sunstone Credit, a solar loan finance platform for small and medium-sized businesses, formed a partnership to further Sunstone Credit’s mission of democratizing access to solar energy for businesses. read more

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Terry Mulreany
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