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
First Citizens Bank Equipment Finance eyes $750M in industrial originations in 2023
CHARLOTTE — First Citizens Bank Equipment Finance has its eye toward growth in its industrial portfolio this year as the lender looks to capitalize on new technologies and leverage its salesforce to enter new markets. First Citizens expects to originate $700
Mitsubishi HC Capital Canada to finance Lion Electric EVs
Mitsubishi HC Capital Canada and ENGS Commercial Finance are providing financing to electric vehicle manufacturer Lion Electric for the company’s school bus and truck customers in the United States and Canada. Mitsubishi HC Capital America is set to absorb ENGS Commercial
Equipment SaaS companies Texada, Uptake Canada complete merger
Equipment rental and mobile SaaS provider Texada Software and equipment dealer SaaS provider Uptake Canada completed a merger this week that will combine the services under a single brand. The merged company will combine software into a bundled SaaS platform that
DLL closes first ABS deal of 2023
Vendor financier DLL closed its first asset-backed securitization deal of 2023 on Feb. 2 — an $850 million transaction backed by loans and leases secured by agricultural, golf course and turf equipment. The pool consists of: 73.6 % loans and 24.6%
PNC pledges $30B to finance green construction
PNC Financial Services Group has increased its environmental financing commitment to $30 billion as part of its ongoing support of clients transitioning to a low-carbon economy. The pledge is a $10 billion boost from PNC’s initial commitment in August 2021
DLL enters financing partnership with Waev
DLL has become the preferred financing partner for electric vehicle manufacturer Waev’s GEM and Taylor-Dunn brands in the United States. DLL will offer both floorplan and end-user financing for Anaheim, Calif.-based Waev dealers, according to a release from the Netherlands-based global
2022 equipment ABS volume increased 14% YoY
Equipment asset-backed securities issuance volume in 2022 outpaced the last three years as the structured finance segment continues its growth trajectory. Equipment ABS volume landed at $22.3 billion, an increase of 14% YoY, according to JPMorgan Securities. By comparison, volumes landed
H&E Equipment Services to sell Komatsu earthmoving distributorship
H&E Equipment Services is set to sell its Komatsu earthmoving distribution business to Houston-based Waukesha-Pearce Industries (WPI), furthering H&E’s move to focus on its rental business. The value of the deal, which is expected to close by the end of the
CIT supplies Utopia Deals with $35M revolving credit facility
CIT’s asset-based lending business has inked an agreement with global retailer Utopia Deals to supply the company with a $35 million revolving credit facility. CIT, a division of First Citizen’s Bank, is providing Plainview, New York-based Utopia Deals with working capital
