Equipment Finance Industry Confidence Eases in March

According to the Equipment Leasing & Finance Foundation’s March 2023 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI), overall confidence in the equipment finance market is at a mark of 50.3, a decrease from the February index of 51.8. read more

Aircraft Finance Industry on Track to Return to Pre-Pandemic Levels by 2024

According to Boeing, demand for domestic air travel has made a strong recovery across a number of regions, according to Boeing, with international traffic gaining momentum as restrictions ease and tracking to return to pre-pandemic levels by 2024. read more

Ritchie Bros. Closes $1.35B in Senior Notes to Partially Fund IAA Merger

Ritchie Bros. closed an offering of $550 million aggregate principal amount of 6.75% senior secured notes and $800 million aggregate principal amount of 7.75% senior unsecured notes to partially fund its merger with IAA. read more

Post Road Equipment Finance Provides $21MM to Heavy Machinery Manufacturer

Post Road Equipment Finance provided a $21 million equipment loan to a heavy machinery manufacturer to finance new and existing assets. read more

Republic Bank Completes Acquisition of CBank for $51MM

Republic Bancorp, the parent company of Republic Bank & Trust Company, completed its previously announced acquisition of CBank and CBank’s wholly owned subsidiary, Commercial Industrial Finance, for approximately $51 million in cash. read more

Bibby Financial Services Streamlines Lending Operations with Lendscape

Bibby Financial Services migrated its Singapore operations to the latest version of Lendscape. The move is aimed at streamlining Bibby Financial Services' lending operations and improving the user and client experience. read more

H&E Equipment Services Appoints Former Sunbelt Rentals CFO to Board of Directors

H&E Equipment Services appointed Suzanne H. Wood to its board of directors. In addition to Wood’s appointment, the size of the board was expanded from ten to 11 directors. read more

Triton International Nominates Pizzuto for Board of Directors

Triton International nominated Terri A. Pizzuto to join its board of directors. Pizzuto will be included as a nominee in Triton’s 2023 proxy statement and, if elected by shareholders, will join the board as an independent director after the company’s annual general meeting on April 27. read more

Gibraltar Business Capital Unveils Gibraltar Equipment Finance

Gibraltar Business Capital launched its new equipment financing business, Gibraltar Equipment Finance, which will provide equipment loans and leases from $1 million to $20 million. Jeffry S. Pfeffer will lead the new business as president. read more

US District Court Denies Balboa Capital’s Breach of Contract Claims Against Physician Group

Barbara Lynn, chief judge of the U.S. District Court for the Northern District of Texas, denied breach of contract and breach of guaranty claims by Balboa Capital against a group of 16 health care practices in a summary judgement earlier this month. read more

Ritchie Bros. Shareholders Approve IAA Acquisition

Ritchie Bros. shareholders voted to approve the proposed acquisition of IAA. Ritchie Bros. will file final certified voting results on an 8-K with the U.S. Securities and Exchange Commission as soon as practicable. read more

Comerica Adds Regional Directors for Small Business Banking Division

Comerica Bank appointed Sandra Felegy, Brent Harraman and Meghan Storey regional directors for its small business banking segment. They will cover California, Texas and Michigan, respectively. read more

First Citizens Expands Middle-Market Banking Division into Midwest and South-Central US

First Citizens Bank is expanding its middle-market banking group to support the financial needs of midsized businesses in the Midwest and south-central regions of the United States. read more

Bigge Adds Liebherr’s LRT 1130 Crane to Fleet

Bigge Crane and Rigging added Liebherr’s newest LRT 1130-2.1 rough terrain crane to its fleet at ConExpo 2023. The German-engineered crane features 140 U.S.-ton lifting capacity and the longest telescopic boom of any two-axle rough terrain crane.  read more

Small Business Loan Approvals at Big Banks Slip to 14.2% in February

According to the latest Biz2Credit, small business loan approval percentages at big banks slipped again in February, falling from 14.4% in January to 14.2%. This marks the ninth consecutive month in which big bank approval percentages have declined. read more

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