News

2022 ELFA SEFA Reveals New Business Volume Increased 7.4% in 2021

New business volume increased 7.4% in 2021, according to the 2022 Survey of Equipment Finance Activity released by the Equipment Leasing and Finance Association. read more

Founder of Gramercy Leasing Services Marty Gutter Passes Away

Marty Gutter, founder of Gramercy Leasing Services, passed away on July 11, 2022 in Boca Raton, FL. Gutter is survived by his wife, Joan; his sons, Stuart and Michael; and four granddaughters. read more

CLFP Foundation Adds 16 New CLFPs

The Certified Lease & Finance Professional (CLFP) Foundation added 16 individual new CLFPs that have passed the eight-hour online proctored CLFP exam. read more

Stonebriar Commercial Finance Funds $30MM Lease to Support an Existing Customer

Stonebriar Commercial Finance funded an additional $30 million lease with one of its long-standing customers, the third transaction provided for this customer since 2016. The lease proceeds were used to acquire new equipment to expand production capabilities. read more

ACT: June Used Truck Sales Drop 39% Y/Y, Average Retail Prices Up 50% Y/Y

Preliminary used Class 8 retail volumes rose 6% month-over-month but were 39% lower compared to June of 2021, according to ACT Research. Compared to June 2021, the average retail price was 50% higher. read more

Moritt Hock & Hamroff Hires Dworkin and Maitra as Associates

Marshall O. Dworkin and Rohan Maitra have joined the law firm of Moritt Hock & Hamroff as associates. Dworkin has joined the firm's litigation practice group, resident in the New York City office. Maitra has joined the firm's secured lending and finance practice group, resident in the New York City office. read more

ACT: June Net Trailer Orders Down 21% M/M, Up 33% Y/Y

Preliminary net trailer orders in June were 15,300 units, down about 21% from the previous month, but up a significant 33% from the same month last year, according to ACT Research. read more

AllTranstek Restructures Technical Services Department

AllTranstek restructured its technical services department with the promotions of Steve McCullough, Jim Dinell and Mike Tait. read more

Stalfort Joins Summit Funding Group as Regional Sales Manager

Bob Stalfort joined Summit Funding Group as a regional sales manager for the west region, where he will specialize in the construction and material handling markets. read more

Stonebriar Provides $77MM Purchase and TRAC Leaseback to Waste Transport Provider

Stonebriar Commercial Finance closed a $77 million TRAC lease with a premier long-haul waste transportation provider serving a broad range of commercial waste management companies. read more

TimePayment Appoints Braspenninckx Vice President of Sales, Diversified Industries

TimePayment appointed Paul Braspenninckx as vice president of sales, diversified industries. read more

Citizens Financial Group Acquires Paladin Advisors

Citizens Financial Group agreed to purchase select assets and liabilities of Paladin Advisors, headquartered in Kensington, NH. The transaction is expected to close in Q3/22. read more

CoBank Quarterly Outlines Gathering Economic Clouds

According to a new quarterly report from CoBank’s Knowledge Exchange, after more than two years, Covid-related supply chain complications are finally easing and various metrics indicate improvements to supply chain performance both domestically and globally. read more

CDB Aviation Executes Sale-Leaseback Agreement with Jazeera Airways

CDB Aviation executed a sale-leaseback agreement for two Airbus A320neo aircraft with a new customer in the Middle East, Kuwaiti carrier Jazeera Airways. read more

ACT: Mild Recession Now Base Case in Forecasting of NA CV Markets

According to ACT’s latest release of the North American Commercial Vehicle OUTLOOK, ACT lowered their GDP forecast, but continues to believe there is demand, and built-up purchasing power among consumers, albeit mitigated by inflation, to support growth in 2022. read more

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