News

BDC Provides Mezzanine Financing to Support Hayabusa

BDC Capital’s Growth and Transition Capital division provided mezzanine funding to Hayabusa, a designer and manufacturer of high-quality equipment and apparel for boxing, jiu-jitsu, Muay Thai and other combat sports. read more

Trailcon Leasing Opens New Facility in Edmonton, Alberta

Trailer and intermodal equipment renter and lessor Trailcon Leasing opened a new facility in Edmonton, Alberta the second week of January. read more

Chemical Financial and TCF Financial to Merge

Chemical Financial and TCF Financial signed a definitive agreement under which TCF will merge into Chemical in an all-stock merger of equals transaction. The combined company will operate under the TCF name. read more

U.S. Trailer Orders Close Up 35%, Setting Annual Record in 2018

U.S. trailer order volume slid sequentially for the third month in a row, but the industry still posted nearly 28,000 net orders in December, according to the ACT Research State of the Industry: U.S. Trailer Report. read more

Avidbank More Than Doubles Net Income for Q4/2018

Avidbank reported an unaudited consolidated net income of $3.481 million for the fourth quarter of 2018 compared to $1.009 million for the same period in 2017, a 240% increase year-over-year. read more

Wells Fargo Launches Recovery and Rebuilding Effort in Paradise, CA

Wells Fargo will provide an additional $3.25 million in financial resources to residents and organizations in Butte County, CA, to address challenges that remain after the 2018 wildfires. Funding will include loan capital earmarked for infrastructure, staff, inventory, equipment and other assistance. read more

ACT Research: Used Truck Prices Rise 10% in 2018

The average price of total used Class 8 trucks sold in 2018 was up 10% compared to 2017, according to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research. read more

TCF Reports Q4/2018 Net Income of $85.7MM, Annual Income of $304.4MM

TCF Financial reported net income of $85.7 million for the fourth quarter of 2018, compared with $101.4 million for the fourth quarter of 2017 and $86.2 million for the third quarter of 2018. read more

Air Lease to Deliver New Airbus A321-200neo LR Aircraft to SAS

Air Lease reached long-term lease agreements with SAS for three new Airbus A321-200neo LR aircraft, scheduled for delivery in 2020 and 2021 from ALC’s order book with Airbus. read more

Truck Drivers Compete to Join America’s Road Team

The American Trucking Associations welcomed 33 professional truck drivers to the final round of the America’s Road Team selection process. read more

Stonebriar Promotes Three Key Staff Members

Stonebriar Commercial Finance promoted Dirk N. Stock to vice president, Portfolio, Harrison P. Smith to investment manager and Ryan Ellis to director in the Real Estate Group. read more

Sterling to Acquire Woodforest ABL and Equipment Finance Businesses

Sterling Bancorp, through its principal subsidiary, Sterling National Bank, agreed to acquire the asset-based and equipment finance lending businesses of Woodforest National Bank. read more

LTi Implements ASPIRE Platform for Bell Bank in Record Time

Bell Bank Equipment Finance moved operations onto the LTi ASPIRE platform in one of the fastest implementation projects that LTi Technology Solutions has executed. read more

ELFA: December Downturn Doesn’t Dampen 2018 New Business Volume

The ELFA’s Monthly Leasing and Finance Index showed overall new business volume for the equipment finance sector was $12.7 billion in December 2018, down 1.0% from the previous December but capping off a year where cumulative volume was up 4%. read more

ATA: Truck Tonnage Index Increases 6.6% in 2018

American Trucking Associations’ advanced seasonally adjusted For-Hire Truck Tonnage Index increased 6.6% in all of 2018 – the largest annual gain since 1998 (10.1%) and significantly better than the 3.8% increase in 2017. read more

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