Huntington, Volvo Financial commercial outstandings rise as equipment market normalizes
Commercial financiers Huntington Bank and Volvo Financial Services’ commercial and industrial books grew in the first quarter as the equipment market normalizes. Huntington Bank’s commercial and institutional loan outstandings landed at $47 billion in Q1, up 4.3% quarter over quarter and
Equipment finance execs: Recruitment a challenge
MCKINNEY, Texas — Equipment finance executives are working to attract new talent as the industry continues to face recruitment challenges. “The biggest challenge we’re starting to address — but we're so far behind the curve — is the influx of new
Outdoor Recreation Act to bolster equipment industry
America’s Outdoor Recreation Act of 2023 introduces three programs aimed at investment in outdoor recreation infrastructure poised to prop up the equipment industry. America’s Outdoor Recreation Act (AORA) was introduced on March 16 by U.S. Sens. Joe Manchin (D-W.V.), chairman of
3 best practices for navigating rising interest rates
As interest rates continue to rise and cash flows tighten, equipment dealers must find the best ways to navigate today’s hawkish interest rate environment to ensure access to funds. Equipment dealers of all sizes must manage rising interest rates to meet
Opinions mixed on finalized CFPB section 1071 Dodd-Frank rulemaking
Opinions are mixed on the Consumer Financial Protection Bureau’s finalized rule that requires small businesses such as equipment dealers to collect information from customers, as financial institutions prepare for new small business lending reporting requirements. The CFPB issued a final rule
Lindsay revenues decline as ag industry normalizes
Irrigation and infrastructure OEM and technology provider Lindsay Corp. posted declining year-over-year irrigation revenue as unit volume returns to normal seasonality. Lindsay’s North American irrigation revenue for the second quarter of 2023 were $90.4 million, down 10.2% from Q2 last year,
New orders for core capital goods inch up in February
New orders for core capital goods increased slightly for the second straight month as companies continued to navigate rising interest rates. The seasonally adjusted value of core capital goods orders, which excludes aircraft and defense equipment, landed at $75.2 billion, an
Equipment finance industry confidence declines in March
Confidence in the equipment finance industry declined slightly in March following three months of growing confidence as recession and inflation woes continue. The Monthly Confidence Index for the Equipment Finance Industry landed at 50.3 for March, down from 51.8 in February
Partnerships, workforce development key to addressing manufacturer, dealer labor shortages, US rep says
Equipment and congressional leaders are emphasizing the need for infrastructure funding and workforce development to support the equipment industry. U.S. Rep. Dina Titus (D-Nev.) ended her tour of CONEXPO 2023 in Las Vegas last week by speaking with the media, along
New Holland homes in on electric rentals
LAS VEGAS — New Holland Construction, a subsidiary of CNH Industrial, aims to capitalize on equipment rental opportunities via new electric vehicles. “As far as ease-ability and serviceability [of EVs], that’s a big advantage for a lot of our customers, especially
