Equipment auction volume jumps as supply improves
LAS VEGAS — Equipment auction volume is increasing amid rising inventory levels and seasonality trends. “Auctions are growing; you’re going to see a lot more equipment rolling through auction,” said Mitch Helman, sales manager at AuctionTime, EquipmentFacts and HiBid — subsidiaries
BMO, BNP Paribas form cross-border partnership
BMO and BNP Paribas have formed a long-term commercial finance agreement that allows commercial clients from both banks to utilize the combined global services. The new, trans-Atlantic partnership began as a result of BMO’s purchase of Bank of the West from
PacWest, Western Alliance stocks continue to plummet
Regional equipment financiers PacWest and Western Alliance Bank continued to see their stock crater Monday as investors showed concern over banks. Several banking stocks declined Monday as part of the fallout from the closure of both Silicon Valley Bank and Signature
Signature Bank collapses, enters FDIC receivership
Signature Bank, the parent company of equipment financier Signature Financial, entered Federal Deposit Insurance Corp. receivership Sunday following the collapse of Silicon Valley Bank on Friday. Signature Bank was closed by the New York State Department of Financial Services on Sunday
Agtonomy to integrate automation software in Bobcat equipment
Equipment manufacturer Bobcat is partnering with agricultural technology company Agtonomy to advance electrification, autonomous operation and digitalization in Bobcat’s agriculture equipment. “Bobcat wants to innovate in agriculture, and they’re doing that through a partnership with Agtonomy, where you bring together our
Trinity Capital’s equipment financing portfolio up 9.6% YoY
Trinity Capital grew its equipment financing portfolio in 2022 amid record commitments and deployments. Equipment financing investments totaled $29 million in the fourth quarter, down 35% quarter over quarter and 59.9% year over year, according to Equipment Finance News analysis of Trinity’s
Equipment finance executives evaluate importance of vetting financing partners
Equipment dealers must evaluate their vetting process for third-party financing partners to stop bad actors and prevent misinformation. Dealers who do not have a process for sales personnel to vet financing partners put themselves at risk, said RJ Grimshaw, president and
2 common roadblocks inhibit equipment sales, financing
Lender and consumer roadblocks are negatively impacting the financing process for equipment dealers. “One, the customer is declined by the primary lender, so we’ll take that as a workflow or a key question to evaluate,” Beckham Thomas, founder and chief executive
Slow, mixed growth ahead in loan market
CHARLOTTE — Slower growth is likely in the U.S loan market this year, but businesses remain steadfast despite concerns of a recession. “I’m getting more and more feedback from business contacts that 2023 looks like a growth year, but a muddling-through
Dealer rentals to grow as bonus depreciation phases out
CHARLOTTE – Rental business at dealerships is poised to gain traction in the coming years as depreciation tax benefits on equipment begins to phase out. Rentals are already gaining traction on equipment with advanced technology, and more segments of the equipment
