Of Interest

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

CIT Provides $51MM for Acquisition of Arizona Apartment Complex

CIT’s real estate finance business provided $51 million in financing for the acquisition of the Oceana Apartments in Avondale, AZ, by 29th Street Capital. read more

deBanked TV Debuts Equipment Finance Reality Show

“Equipping The Dream,” a web-based reality show series debuted on deBanked TV last week. The show follows four aspiring equipment finance brokers as they attend a week-long training at the headquarters of Everlasting Capital in Rochester, NH. read more

Rinaldi Interviews Tamarack’s Nelson About AI and Machine Learning

Bob Rinaldi, president of Rinaldi Advisory Services, conducted an interview with Scott Nelson, Ph.D., president and chief digital officer of Tamarack Technology, about how artificial intelligence and machine learning can impact independent lessors in Rinaldi’s video interview blog, Leasing Avenues. read more

Ryder Expands Vehicle Sharing Platform to All 50 States

Ryder is expanding COOP by Ryder, its truck and trailer sharing platform, launching the service in all 50 states in the United States. This expansion follows the program’s initial rollout in nine states. read more

Non-Bank Lenders Forecast Demand Increase and Economic Downturn in 2022

According to Cerebro Capital, 52% of non-bank lenders expect increased commercial and industrial loan demand that began in Q4/21 to continue due to a predicted deterioration of the economy over the next six to 12 months. read more

IDC Forecasts AI Spending to Increase by 19.6% in 2022

Worldwide revenues for the artificial intelligence market, including software, hardware and services, is forecast to grow 19.6% year over year in 2022 to $432.8 billion, according to International Data Corporation. read more

Ritchie Bros. Partners with Thoughtworks to Accelerate Digital Transformation

Ritchie Bros. signed a multi-year agreement with Thoughtworks, a global technology consultancy, to accelerate its modernization and digitization journey. read more

CIT Provides $80.7MM to IRA Capital for Surgical Center Acquisitions

CIT’s healthcare finance business served as sole lead arranger on two financings totaling $80.7 million for the acquisition of surgical centers in Naples, FL, and Alexandria, LA, by IRA Capital. read more

CIT Northbridge Credit Provides $20MM Credit Facility to Davey Coach

CIT Northbridge Credit, as advised by CIT Asset Management, served as sole lead arranger on a $20 million senior lending facility for Davey Coach Holdings, a portfolio company of Progress Equity Partners and a provider of new and used shuttle bus and rental services. read more

CIT Provides Financing for Acquisition of Apartment Complex in Plano, TX

CIT’s real estate finance division provided financing for the acquisition of the Morada Plano Apartments in Plano, TX. The borrower for the financing is The Jacobson Company, a Los Angeles-based private real estate company. read more

ATSG Extends and Expands Aircraft Leasing and Operating Agreements with DHL

Air Transport Services Group executed agreements with DHL Network Operations under which ATSG’s Cargo Aircraft Management and ABX Air subsidiaries will continue to lease aircraft to DHL and operate those aircraft within DHL’s global network. read more

Pitney Bowes Provides Term Loan and Revolving LOC to Zion Delivery Service

Pitney Bowes Bank signed a term loan and accompanying revolving line of credit with Zion Delivery Service, a provider of last mile delivery support for national and regional carriers in Southern California. read more

Small Business Loan Approval Rates Increase Among Most Lenders in January

Small business loan approval percentages at big banks (more than $10 billion in assets) increased from 14.3% in December to 14.5% in January and approval rates at small banks (under $10 billion in assets) rose from 20.1% in December to 20.3% in January, according to Biz2Credit. read more

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