Loeb Term Solutions hired Greg Andricopulos as CFO and Eric Schwartz as CIO and CMO. Andricopulos will lead the financial aspects of all Loeb companies. Schwartz will be heading up the digital and information technology areas for all Loeb companies. read more
New business volume grew 10.5% in the equipment finance industry in 2019, according to the 2020 Survey of Equipment Finance Activity from the ELFA. The rise in new business volume marked the 10th consecutive year that businesses increased their spending on capital equipment. read more
MidAtlantic Farm Credit hired Karen Swecker as senior vice president and loan operations manager. Swecker worked in sales and management at MidAtlantic Farm Credit from 2005 to 2017, and worked as a relationship manager at AgFirst Farm Credit Bank from 2017 to 2020. read more
Fleet Advantage reported in its latest fleet industry benchmarking survey that there is continued low demand for electric and autonomous trucks. The survey also found that only 8% of respondents are entering into full-service lease agreements for their trucks. read more
Angelo Moskovis joined the sales team at North Star Leasing in the role of senior business development specialist. Moskovis, who will be based in Boston, most recently worked for Navitas Credit. read more
According to a survey from LeaseQuery, companies struggled with the first audits completed under the landmark new lease accounting standard. In fact, half of public companies said additional effort was needed for the process. read more
According to ACT Research, used Class 8 same dealer sales volumes in the first half of 2020 were up 6% year to date against the first half of 2019, with average price down 15%, miles down 2% and age down 7% compared with June 2019 year-to-date rates. read more
The ELFA encouraged association members to participate in a survey from the CFPB that will examine the potential one-time costs associated with complying with Section 1071 of the Dodd Frank Act. read more
The Citizens Business Conditions Index showed stability in Q2/20, decreasing from 60.8 to 60.3 despite the quarter beginning with many businesses reeling from the shutdown of the global economy caused by the COVID-19 pandemic. read more
James C. Mabry IV will join Renasant Corporation as executive vice president and CFO. Mabry, who will join the company on Aug. 1, also will oversee the company's mergers and acquisition activities and its investor relations. read more
The equipment finance industry has been notably slow to embrace newer technologies. For many companies, COVID-19 has exposed crucial technological gaps in business tools, systems and processes. But lenders can utilize their real-time struggles to accelerate digital transformation and enhance... read more
Introduction As I glanced through the recent Monitor 100, I noticed that one third were independents with more than $11 billion in collective volume, or 6% of the entire group, (up from 4.8% in 2018). That $11 billion market share... read more
Business leaders have largely embraced the rapid introduction of home working and digital processes as an inevitable necessity. Though the global lockdown has rapidly accelerated trends in digitalisation, seeing many asset finance businesses moving their operations entirely online in a contracted timescale, the direction of these developments is not a new concept for the industry.
Many companies’ priorities have shifted due to the pandemic, creating cash flow concerns for some organizations. Jennifer Booth explains how companies may benefit from a detailed understanding of their lease agreements, which can provide clear visibility into their entire lease portfolio, allowing for better decision making and the potential to generate liquidity during this critical time.