Americas

US equipment finance industry confidence eases in March

Mar 16, 2023: The Equipment Leasing & Finance Foundation has released the March 2023 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI). The index reports a qualitative assessment of both the prevailing business conditions and expectations...

PEAC Solutions expands financing solutions in Mexico

Mar 08, 2023: PEAC Solutions (PEAC) and Bepensa Capital, the holding company of the trademark FinBe ABC, an independent, non-banking company in Mexico, have announced a partnership to provide financing solutions in Mexico. ...

ELFA’s new business volume up 6% in January

Feb 24, 2023: The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity from 25 companies representing a cross-section of the US$1 trillion equipment finance sector, showed their overall n...

Mitsubishi HC Capital America, Mitsubishi HC Capital (U.S.A.) and ENGS Commercial Finance to integrate

Feb 16, 2023: Three Mitsubishi HC Capital Group Companies in the United States and Canada will join together to enhance the sustainable, competitive advantage in the financial services sector. ...

DLL closes US securitisation transaction at US$850m

Feb 02, 2023: Global vendor finance company, DLL has announced the closing of “DLLAD 2023-1”, a US securitisation transaction issuing notes totaling US$850 million. The notes are backed by loans and leases secured with agricultural, golf course and turf equipmen...

ELFA’s new business volume up 9% in December

Jan 25, 2023: The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity from 25 companies representing a cross section of the $1 trillion equipment finance sector, showed their overall new...

US equipment finance industry confidence improves in December

Dec 20, 2022: The Equipment Leasing & Finance Foundation (the Foundation) has released the December 2022 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI). The index reports a qualitative assessment of both the prevailing business conditi...

US equipment leasing and finance industry Q4 2022 snapshot

Nov 03, 2022: The Equipment Leasing & Finance Foundation has released the Q4 2022 Equipment Leasing & Finance Industry Snapshot. The information resource for industry participants summarises the current conditions and projections for the US economy and e...

ELFA’s new business volume up 11% in September

Oct 26, 2022: The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity from 25 companies representing a cross section of the $1 trillion equipment finance sector, showed their overall new...

US equipment finance industry rose to an all-time high of US$1.16 trillion in 2021

Oct 10, 2022: The size of the US equipment finance industry rose to an all-time high of US$1.16 trillion in 2021, as nearly 80% of firms that acquired equipment or software used at least one form of financing to do so, according to a new study 2022 Equipment Lea...

PEAC builds up global footprint

Jul 26, 2022: The PEAC family of finance companies is pushing ahead with global expansion, with the news that the US-based Marlin Leasing Corporation has been acquired by funds managed by HPS Investment Partners and will be rebranded as PEAC Solutions. The PEAC ...

CIT upgrades B2B point-of-sale lending platform

Feb 20, 2020: The small business solutions arm of CIT Group has launched a new version of its point-of-sale lending platform. The platform is available online and on mobile devices to simplify financing for small business purchases of $2,500 or more. Business ...

Marlin hits $1 billion net investment in leases and loans

Feb 18, 2020: Commercial lending solutions provider Marlin Business Services announced net income of $8.4 million in Q4 2019, a rise of 31% compared to the year before. Jeffrey Hilzinger, president and chief executive officer at Marlin, explained: “Marlin concl...

Kawasaki Motors Finance Corporation selects White Clarke Group’s floorplan finance software

Feb 14, 2020: Kawasaki Motors Finance Corporation has selected White Clarke Group’s CALMS Compass floorplan finance software to enhance the dealer experience. KMFC provides inventory financing services to the independent retail dealer network of Kawasaki Motors...

Fitch predicts uncertain global outlook as Coronavirus hurts growth

Feb 12, 2020: Analyst Fitch Solutions has predicted the global economy will grow by 2.7% in 2020. It forecasts a “slight uptick” of 0.1% compared to 2019, but warns of an increasing number of indicators that suggest a cyclical bottoming out of the economy, amon...

Chevron starts $5.7bn Gulf of Mexico oilfield project

Feb 12, 2020: Energy giant Chevron has given the go-ahead for a deep-water oilfield project in the Gulf of Mexico. Known as the Anchor project, it will require an investment of around $5.7 billion and is said to be an industry-first for deep-water development. ...

Rise in equipment finance volumes generates optimism amongst US lessors

Feb 06, 2020: Equipment finance new business volume rose 2% year-on-year in December 2019 to reach $12.9 billion, according to the US Equipment Leasing and Finance Association’s Monthly Leasing & Finance Index (MLFI-25). The 25 companies that participate in...

CIT leads $42.8 million financing for New York solar initiative

Feb 06, 2020: CIT Group’s power and energy division has arranged $42.8 million in debt financing to support NY Solar Farms, a 70-megawatt community solar portfolio in New York State. The portfolio is one of the largest of its type and includes 10 projects acros...

Bank of America achieves carbon neutrality as part of $300 billion green finance initiative

Jan 29, 2020: The Bank of America has met its carbon neutrality goal one year ahead of schedule after a major investment in renewable energy. The Bank has installed on-site solar capability at many of its facilities, including office locations and financial cen...

US equipment finance market outlook positive

Jan 20, 2020: The early 2020 outlook for the US equipment leasing market is upbeat, according to data from the Equipment Leasing and Finance Foundation, which says business confidence is on the rise for the third month in a row. The Foundation’s January monthly...

Ally Financial recruits digital leader

Jan 20, 2020: Ally Financial has announced that Sathish Muthukrishnan has joined the company as chief information, data and digital officer, to lead its technology, data and digital transformation teams, with a focus on advanced technical capabilities including ...

Recession “more likely than not” in the next 12 to 24 months, ELFF study warns

Dec 09, 2019: A full or near recession is likely in the next 12-24 months, according to analysis of the latest economic data by the US Equipment Leasing and Finance Foundation (ELFF). Its Recession Monitor also suggests that a recession could also happen in the...

Three new appointments at Wells Fargo Equipment Finance

Oct 07, 2019: Wells Fargo Equipment Finance, a division of Wells Fargo Commercial Capital (WFCC), has named three new leaders in its specialty industries business unit. National sales executive John Crum (pictured above) is to head up the commercial vehicle gro...

Fitch: Brazil and Mexico most vulnerable Latin American markets for recession

Sep 30, 2019: Brazil and Mexico are the most likely major Latin American markets to enter recession within the next two years, according to market analyst Fitch Solutions. The warning comes as global growth is slowing, with Argentina already in recession, after...

Fluor sells equipment rental operation

Sep 27, 2019: Fluor Corporation, a global engineering, procurement, fabrication, construction and maintenance company, is to sell its construction equipment rental company (AMECO), as part of an overhaul of its operations designed to raise over $1 billion. The ...

US equipment finance market falters

Sep 27, 2019: Confidence in the US equipment finance market has taken a dip in September, according to research by the Equipment Leasing & Finance Foundation. It says concerns about trade wars and ongoing tariff negotiations are rising. The Foundation’s mo...

Boost to circular economy as 130 banks with $47 trillion in assets commit to sustainable investment

Sep 26, 2019: Earlier this week, around 200 delegates gathered at the UN General Assembly in New York, which marked the official launch of the Principles for Responsible Banking, and the beginning of a major partnership between the global banking industry and th...

Wheeler Financial supports investment in GPS

Sep 19, 2019: Pitney Bowes subsidiary Wheeler Financial has closed a financing transaction with Ghilotti Bros, so the 105-year-old construction North Californian firm can invest in GPS tracking technology to gain an advantage in its highly-competitive market. G...

Three-quarters of US public companies yet to complete preparations for new lease accounting standards

Sep 19, 2019: Just a quarter of executives in US public companies report that their implementation of the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board’s new lease accounting standards is complete, according to a po...

DND Finance provides $1 million to entertainment finance company

Sep 18, 2019: DND Finance has provided $1 million to Canadian funding solution provider Benjamin Verde (BV). BV is an artist and entertainment funding solutions provider, which provides ‘creatives’ with access to finance, including if they have failed to obtain...

US healthcare equipment funding report

Sep 09, 2019: The Equipment Leasing & Finance Foundation has released a new study identifying cost and technology as the two key themes underlying virtually every trend and issue impacting the healthcare industry, one of the most significant drivers of the U...

Commercial Finance Association rebrands

Sep 09, 2019: The Commercial Finance Association has rebranded as Secured Finance Network (SFNet) in time for its 75th anniversary. Executives say the re-brand underscores the industry's crucial role in providing secured financing to businesses to drive economi...

Digital drive supports growth at Santander Chile

Sep 06, 2019: Banco Santander Chile has reported its strongest set of quarterly results since 2013. The bank’s Q2 2019 net income attributable to shareholders totalled CLP171,232 million, an increase of 36.5% compared to the previous quarter and 10.8% year-on-y...

Brookfield acquires and refinances Ouro Verde

Aug 09, 2019: Asset management firm Brookfield Business Partners has fully acquired Brazilian heavy equipment and fleet management company Ouro Verde. The acquisition included a refinancing package, in which Ouro received a 500 million Brazilian Real ($131 mill...

Bancolombia predicts 3.1% growth for Colombian economy

Aug 09, 2019: Bancolombia’s economic research group has predicted growth of 3.1% for the Colombian economy in 2019, up from 2.7% in the first half of the year. The bank, which is Latin America’s largest leasing company according to the Alta Group’s LAR 100, exp...

US-based startup launches machine-sharing platform to support circular economy

Aug 07, 2019: A new peer-to-peer digital platform that describes itself as the 'Uber of the manufacturing equipment industry' is enabling businesses to offer their idle industrial machinery for rent to other companies. McPond, based in Chicago, matches under-ut...

Technology drives floorplan finance growth at Merchants Bank

Aug 01, 2019: From spreadsheets to the latest floorplan finance software: new technology has transformed service levels and increased customer demand at a Minnesota-based bank. Merchants Bank launched its digital floorplan strategy following a four-month progra...

Marlin to finance EVs

Jul 26, 2019: Small business commercial equipment financing specialist Marlin is partnering with Columbia Vehicle Group to offer financing options to Columbia’s customers. Columbia Vehicle Group is a global provider of electric commercial utility and industrial...

Equipment finance business volumes rise

Jul 26, 2019: The equipment finance sector is seeing promising signs of growth in the second half of the year. Data from the Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25) shows overall new business volume for Jun...

CIT finances Texas solar project

Jul 26, 2019: CIT group has announced its power and energy business has arranged $204.5 million in financing to support construction of Holstein Solar, a 200-megawatt solar farm to be built in Nolan County, Texas. The project was sold by 8minute Solar Energy to...

CIT enhances asset management capabilities

Jul 25, 2019: CIT Group is expanding its investment management and advisory capabilities to offer an increased range of products to more customers. CIT Asset Management, the company’s registered investment advisor arm, will offer expanded cashflow-based loans t...

Equipment finance business confidence drops

Jul 11, 2019: Confidence in the equipment finance market is on a downward trend according to figures released by the Equipment Leasing & Finance Foundation. Its monthly index on prevailing business conditions and expectations for the future (MCI-EFI) fell t...

Chile launches Latin America’s first sovereign green bond

Jun 26, 2019: Chile has become the first country in Latin America to issue a sovereign green bond. The country sold $1.42 billion in 2050 notes at a historically low rate of 3.53% in mid-June. ...

Bancolombia invests in artificial intelligence research as growth continues

Jun 26, 2019: Bancolombia has released its financial results for the first quarter of 2019, revealing year-on-year asset growth of 11.56%. Total assets were up 1.84% on quarter four 2018 to $70.2 billion, which the results credited largely to growth in the loan...

New equipment business volume muted

May 01, 2019: New business volume in the equipment finance sector remains subdued according to the latest data from the Equipment Leasing and Finance Association (ELFA). Its monthly leasing and finance index (MLFI-25) suggests March’s performance was 10% lower ...

Private companies struggling with lease accounting standard

Apr 15, 2019: A first report on how private companies are prepared for the new lease accounting standards that come into use in January 2020 suggests many have significant work remaining to meet the new requirements. The research study of 350 finance and accoun...

NewLane Finance launches

Apr 15, 2019: Neumann Finance and Beneficial Equipment Finance have combined forces to create NewLane Finance, a new equipment finance supplier. The new company will be backed by WSFS Bank, a financial institution with approximately $13 billion in assets and th...

Slow start for equipment investment market

Apr 15, 2019: Equipment and software investment growth in the US is likely to slow during 2019, according to the Equipment Leasing and Finance Foundation. Predicted growth of 4.5% is an improvement on original forecasts, but below expectations for the same peri...

CIT lights up battery-based energy project

Apr 15, 2019: CIT Group has completed a third round of financing for an innovative battery-based energy storage project to boost renewable energy use in Southern California. This latest financing agreement for Macquarie's Green Investment Group follows two earl...

TimePayment buys LeaseQ

Apr 09, 2019: Fintech company TimePayment has acquired LeaseQ, the online equipment financing marketplace, for an undisclosed sum. The deal will provide expanded funding capabilities to TimePayment’s vendor business unit. Founded in 2011, LeaseQ was the first ...

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