Top Five Construction Equipment Lenders Account for 76.6% of Dec Total
FEB 1, 2018 - 7:27 am
Update: The original post has been edited to reflect the consolidated filings of Wells Fargo Vendor Financial Services and Wells Fargo Equipment Finance into one unit (Wells Fargo).
Statistical data for the construction equipment market provided by EDA showed the top 20 lenders in the segment, in the aggregate, completed a total of 4,642 new construction equipment related filings during the month of December 2017.
The top five lenders, in units, included:
Wells Fargo (960)
Caterpillar Financial Services (952)
John Deere Industrial Credit (831)
Kubota Credit (690)
CNH Industrial Capital America (240)
The top five accounted for 76.6% of the total, or 3,554 units. The top lender, Wells Fargo, accounted for a 20.7% share of the total. Wells Fargo’s filings were split between Wells Fargo Vendor Financial Services (841) and Wells Fargo Equipment Finance (119).
The top five construction equipment buyers (location/brands/units) included:
Blizzard Transportation (Illinois/Deere/40)
Deness Leasing (Illinois/Case/23)
Snow System (Illinois/Deere/20)
OSC Equipment Service (New York/Atlas Copco, Link Belt, Haulotte/22)
This year has kept the equipment finance sector on its toes with a massive banking crisis, continually rising interest rates and consistent concerns about an economic recession. Equipment finance companies and their customers are continuing to deal with the pressure... read more
The recent deluge of state commercial financing disclosure laws designed to mimic consumer-style truth-in-lending statements raises interesting policy considerations as it relates to the inclusion or exclusion of equipment leasing and finance transactions.1 In particular, of all the relevant laws... read more