News

North American Rental Revenue Forecast to Surpass $71B in 2022

The American Rental Association five-year forecast updated in late October forecasts equipment and event rental revenues in North America to exceed $71.7 billion in 2022. read more

TIAA Acquires $1.5B GE Capital Healthcare Equipment Financing Portfolio

TIAA Bank announced the acquisition of a $1.5 billion portfolio of healthcare equipment leases and loans from GE Capital’s Healthcare Equipment Finance business. read more

Cutting Tool Consumption Slides in September; Up 12.8% YTD

September 2018 U.S. cutting tool consumption totaled $210.58 million, down 5.5% from August’s $222.82 million, up 20.4% year over year and up 12.8% year to date. read more

Umpqua Promotes Namdar to Chief Credit Officer

Umpqua Holdings promoted Frank Namdar to chief credit officer. He will assume responsibility for credit risk and credit approval-related functions for Umpqua Bank and Financial Pacific Leasing. read more

Trinity to Repurchase $350MM of Common Stock in JPMorgan-Led Program

Trinity Industries entered into an accelerated share repurchase program with JPMorgan Chase Bank to repurchase $350 million of its common stock. read more

FASB Issues Narrow-Scope Improvements to Credit Losses Standard

The Financial Accounting Standards Board issued an Accounting Standards Update that amends the transition requirements and scope of the credit losses standard issued in 2016. read more

Wells Fargo Donates Additional $1.5MM to California Wildfire Relief

Wells Fargo announced a donation of $1.5 million to aid in the ongoing recovery and relief efforts resulting from the devastating wildfires in California. read more

Gulf Air Signs Sale Leaseback with SMBC Aviation Capital for 6 A320neos

Gulf Air, Bahrain’s national carrier, and SMBC Aviation Capital announced an agreement for the purchase and leaseback of six Airbus A320neo aircraft. read more

BNB Bank Goes Digital with PayNet to Transform Credit for Small Businesses

BNB will leverage PayNet’s digital scoring model to enhance small business loans on Long Island and in the greater New York metropolitan area. read more

Ohio Ag Equipment to Acquire Schmidt Machine Company’s Equipment Business

Ohio Ag Equipment announced its intent to acquire the Wyandot County AGCO dealer, Schmidt Machine Company, Ag division, on the target date of December 17, 2018. read more

PayNet: Mini Wake-Up Call for U.S. Small Business Lending at Q3 End

While small business lending remains healthy, subtle signs point to increasing credit risk, according to the latest Quarterly Credit Outlook from PayNet. read more

CIT Reveals New Brand Identity; Direct Capital Brand to be Retired

CIT Group revealed a simplified and refreshed brand identity aimed at presenting a more cohesive market presence following a multi-year transformation of the company. Direct Capital will become CIT. read more

DLL Wins Vendor Finance Leasing Life 2018 Award

The winners of the 2018 Leasing Life Awards were announced. DLL won the Vendor Finance provider award and Societe Generale’s John Rees won the Industry Ambassador award. read more

OnDeck Appoints Capital One & BBVA Vets to Board of Directors

New board members, Chandra Dhandapani and Manolo Sánchez will bring decades of banking, lending and financial technology expertise in large scale organizations to OnDeck. read more

PNC Bank Provides Refinancing for Two Oilfield Services Providers

PNC Bank closed an $84 million senior secured facility for Innovex Downhole Solutions where it also served as administrative agent. read more

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Terry Mulreany
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