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News Stories (130 Results) - COVID-19

Amid an unprecedented global pandemic and disruptions to the economy, 53 percent of business leaders expect their companies to return to normal in the next 12 months, according to JPMorgan Chase’s Business Leaders Outlook Pulse Survey. The majority... Read Story
July 09, 2020, 07:20 AM


North Mill Equipment Finance LLC, an independent commercial equipment lender located in Norwalk, CT, announced it posted record originations for the first half of 2020. Funded volume reached nearly $80 million, representing a growth rate of 40... Read Story
July 08, 2020, 07:30 AM


Arbor Bancorp, Inc., the holding company of Bank of Ann Arbor, announced that Arbor Bancorp. Inc. and FNBH Bancorp, Inc., the holding company for First National Bank in Howell, MI, have mutually agreed to terminate their Agreement and Plan of Merger... Read Story
June 29, 2020, 07:22 AM


According to new research from Paychex, Inc., 90 percent of business owners say the Paycheck Protection Program Flexibility Act’s provision extending the forgiveness period from eight to 24 weeks will be impactful to their business, and 82 percent... Read Story
June 29, 2020, 07:15 AM


A new report by Hilco Global looks at the numerous factors impacting U.S. Forestry markets during the COVID-19 crisis and explores the outlook and timeframe for recovery. “Pandemic Impacts Continue to Shape the Course of Forestry Markets,” authored... Read Story
June 29, 2020, 07:00 AM


The disruption caused by the COVID-19 pandemic caused many bank-owned and independent equipment finance companies to implement new business development, credit underwriting and operations procedures resulting from work-at-home orders. As the country... Read Story
June 26, 2020, 07:20 AM


Geneva Capital has been named to the Star Tribune’s list of National Standard Top Workplaces based on employee surveys. Star Tribune’s Top Workplaces recognizes the most progressive companies in Minnesota based on employee opinions measuring... Read Story
June 26, 2020, 07:00 AM


According to ACT Research’s recently released Transportation Digest, the shock waves of the COVID-19 recession continue to depress both the North American and global economies, with June marking the fourth month of what will go down in the record... Read Story
June 25, 2020, 07:19 AM


Pitney Bowes Inc. announced that Wheeler Financial from Pitney Bowes has closed a financing transaction with Compass Medical, an affiliate of Steward Healthcare System. The physician-owned and directed healthcare organization will invest in medical... Read Story
June 25, 2020, 07:12 AM


Chesswood Group Limited, a North American commercial equipment finance provider for small and medium-sized businesses, provided an update on the effects of COVID-19 on its business and banking activities.What has been the extent of COVID-19 Related... Read Story
June 23, 2020, 07:30 AM


A new global business survey commissioned by Xerox Holdings Corporation shows an estimated 82 percent of the workforce in respondents’ organizations will have returned to the workplace in 12-18 months’ time, on average. In preparation for a return... Read Story
June 22, 2020, 07:00 AM


As businesses have moved beyond the initial crisis management and cost reduction phase from the onset of the COVID-19 pandemic, chief financial officers are now focused on regaining their footing, rebuilding revenue and reshaping their business as... Read Story
June 19, 2020, 07:14 AM


The Equipment Leasing & Finance Foundation released the June 2020 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI). The index reports a qualitative assessment of both the prevailing business conditions and expectations for the... Read Story
June 18, 2020, 07:22 AM


An early consequence of the COVID-19 pandemic was lessees and borrowers requesting payment deferrals on their equipment finance facilities to survive the economic downturn. As we approach the end of the first round of deferrals periods, many lessors... Read Story
June 18, 2020, 07:20 AM


As a result of the impact of the COVID-19 pandemic on its business, on June 15, Marlin Business Services Corp. implemented a reduction in force that affected approximately 55 employees, the company states in a filing with the Securities and Exchange... Read Story
June 17, 2020, 07:30 AM


A new update to the International Data Corporation (IDC) Worldwide Digital Transformation Spending Guide shows that spending on the digital transformation (DX) of business practices, products and organizations will continue at a solid pace despite... Read Story
June 16, 2020, 07:10 AM


U.S. manufacturing technology orders decreased 26 percent in April from the previous month to $225.8 million, the lowest monthly total since May 2010, according to the latest U.S. Manufacturing Technology Orders report published by AMT – The... Read Story
June 15, 2020, 07:15 AM


Some 56 percent of business executives said their companies had sought relief funds through the Paycheck Protection Program (PPP), a $660 billion initiative under the CARES Act designed to protect small businesses and their employees, a survey by the... Read Story
June 15, 2020, 07:10 AM


The COVID-19 pandemic has significantly impacted the equipment finance industry causing new business originations to slow significantly for many equipment finance companies. Will this trend continue? To gain insight from the equipment finance... Read Story
June 10, 2020, 07:16 AM


Craig Weinewuth, President and Chief Executive Officer of ENGS Commercial Finance Co., issued a statement to provide an update: “We are excited to provide an update from our last communication letting you know ENGS Commercial Finance Co. (ENGS)... Read Story
June 09, 2020, 07:05 AM


Business confidence levels declined in the last week of May, according to the latest update to the IDC COVID-19 Tech Index. IT buyers in the U.S., Western Europe and some parts of Asia/Pacific indicated that they now expect total IT spending to... Read Story
June 08, 2020, 07:25 AM


Equipment Finance Advisor recently completed its second EFA reLaunch Survey, asking readers:“What level will loan delinquency rates likely reach in the second half of 2020?As illustrated in the graphic below, roughly 65% of survey respondent believe... Read Story
June 05, 2020, 07:18 AM


Battered by repercussions from the COVID-19 pandemic, business executives hold the most pessimistic view of the U.S. economy since the end of 2011, when the nation was still emerging from the lingering impact of the Great Recession, according to the... Read Story
June 05, 2020, 07:09 AM


Total commercial Chapter 11 filings in May increased 48 percent from the previous year, according to data provided by Epiq Systems, Inc. Commercial Chapter 11 filings totaled 722 in May 2020, elevated from the May 2019 total of 487, the American... Read Story
June 04, 2020, 07:27 AM


In the difficult business environment caused by the impact of COVID-19, many lessors and lenders are receiving requests from their customers for some form of payment accommodation. Navigating modification accounting, application of the Financial... Read Story
June 03, 2020, 07:20 AM


As the COVID-19 crisis enters new phases around the country, the U.S. economy is continuing to be impacted. Focusing on the economic fallout from this crisis, Equipment Finance Advisor has released its most recent reLaunch Survey question: What do... Read Story
June 02, 2020, 07:20 AM


Global aircraft lessors' recent first quarter financial results confirm issuers' continued efforts to maintain sufficient liquidity amid the economic fallout from the coronavirus pandemic, Fitch Ratings says. The pandemic has caused significantly... Read Story
June 01, 2020, 07:20 AM


A survey of trends in U.S. middle-market lending conducted by Carl Marks Advisors found that a significant majority of respondents believe the lending markets will reopen for well-capitalized companies by the end of 2020, but less than a third... Read Story
June 01, 2020, 07:10 AM


Hilco Global has issued a report on how pandemic-driven business closures, consumer purchasing behavior and supply chain dynamics are impacting the retail, production, distribution and foodservice segments of the food industry.“Food Industry... Read Story
June 01, 2020, 07:00 AM


NFS Leasing, Inc. has extended its existing partnership with customer RPP Products, Inc. to help fund an expansion into a new line of business, manufacturing hand sanitizer.RPP Products is an automotive manufacturing and distribution company... Read Story
May 28, 2020, 07:20 AM


In the release of its Commercial Vehicle Dealer Digest, ACT Research is predicting that the economy will transition from contraction to growth over the course of Q3 and Q4, acknowledging that after the current focus on saving lives will come the... Read Story
May 28, 2020, 07:03 AM


The current pandemic has reinforced the need for equipment finance companies to focus on their operational resiliency efforts now and for the long term. Steps to address the needs caused by the crisis and take a more holistic approach to building... Read Story
May 27, 2020, 07:12 AM


Equipment finance companies are experiencing a rise in lease contract deferrals as their customers request payment relief during the COVID-19 pandemic.JDR Solutions Inc., a portfolio management service provider, handled multiple contract... Read Story
May 26, 2020, 07:25 AM


Equipment Finance Advisor recently completed its first EFA reLaunch Survey, asking readers:“How difficult do you believe it will be to adhere to social distancing and safety guidelines in the workplace?”As illustrated in the graphic below, 75% of... Read Story
May 26, 2020, 07:22 AM


According to ACT Research’s recently released Transportation Digest, the COVID-19 pandemic is having its most severe impact on North American, and global, economic activity now. The report noted the extent of the shock was a near total surprise to... Read Story
May 26, 2020, 07:05 AM


The NFIB Research Center released a survey on the status of the small business loan programs. Among NFIB members, 80 percent applied for a Paycheck Protection Program (PPP) loan and almost 90 percent have received the loan. Most of the loans were... Read Story
May 22, 2020, 07:14 AM


Truist Financial Corporation announced it will commit an additional $25 million philanthropic pledge as part of its Truist Cares initiative, now totaling $50 million. It includes $10 million for small businesses.Truist was formed upon the merger of... Read Story
May 21, 2020, 07:30 AM


According to ACT Research’s latest State of the Industry: NA Classes 5-8 Report, COVID-19 was in evidence across the commercial vehicle statistics in April, with Class 8 net orders at their lowest level since September 1995 and medium-duty orders at... Read Story
May 21, 2020, 07:15 AM


From the second-quarter Phoenix Management “Lending Climate in America” survey results reveal COVID-19 has created pessimism in the U.S. economy’s near-term performance.The outlook for the U.S. economy saw a significant decrease in the near-term. The... Read Story
May 20, 2020, 07:18 AM


As U.S. businesses reopen following the long coronavirus-induced shutdown, chief financial officers are coming to terms with a new business environment of lower anticipated revenues and reconfigured workplaces. Yet, companies still face a skeptical... Read Story
May 19, 2020, 07:26 AM


According to this quarter’s issue of ACT Research’s Trailer Components Report, the U.S. trailer industry has shifted from the production/capacity challenges of the last three years, with their corresponding pressures on the component and material... Read Story
May 18, 2020, 07:15 AM


ECN Capital Corp. reported its financial results for the three-month period ended March 31. The company reported adjusted net income applicable to common shareholders from continuing operations of $14.5 million in the first quarter versus $18.5... Read Story
May 15, 2020, 07:22 AM


The outbreak of COVID-19 is both benefiting and challenging the U.S. healthcare industry in ways that will continue to evolve in the coming quarters, according to the Global Healthcare team at Mitsubishi UFJ Financial Group (MUFG). The team issued... Read Story
May 15, 2020, 07:21 AM


Equipment Finance Advisor is pleased to launch its new real-time survey engine: EFA reLaunch Surveys. The COVID-19 pandemic has impacted businesses of all types – including companies serving the equipment finance industry. Designed to provide a... Read Story
May 14, 2020, 07:30 AM


The Equipment Leasing & Finance Foundation released the May 2020 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI). Overall, confidence in the equipment finance market improved with an index of 25.8, up from the historic low in... Read Story
May 14, 2020, 07:25 AM


Chesswood Group Limited, a North American commercial equipment finance provider for small and medium-sized businesses, reported its results for the first quarter ended March 31, and provided a COVID-19 update.The company reported a net loss of $14.1... Read Story
May 14, 2020, 07:20 AM


Preliminary used Class 8 volumes (same dealer sales) contracted 8 percent month-over-month in 2020’s fourth month, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research.... Read Story
May 14, 2020, 07:00 AM


In the face of COVID-19, a growing number of equipment finance businesses are finding that being able to contract electronically is essential. For equipment finance companies looking to ramp up their e-signing and e-leasing capabilities in the... Read Story
May 13, 2020, 07:19 AM


According to ACT Research’s latest release of the North American Commercial Vehicle OUTLOOK, 2021 is being forecast as the transition year, as the global economies and North American commercial vehicle demand move from COVID-19’s negative impacts... Read Story
May 13, 2020, 06:55 AM


Element Fleet Management Corp. announced its financial results for the first quarter ended March 31, and continued progress on its transformation program.Element’s market-leading core fleet business generated adjusted operating income of $96.07... Read Story
May 12, 2020, 07:20 AM


Presidio’s Chairman and CEO Bob Cagnazzi will hold an exclusive online event with Dell Technologies Chairman and CEO Michael Dell on May 12 at 2 p.m. ET. In the Presidio C-Suite Perspective Webinar Series - How Technology Leaders are Responding to... Read Story
May 12, 2020, 07:14 AM


Small business optimism took another dive in April, falling 5.5 points to 90.9, with owners expressing certainty the economy will weaken in the near-term, but expecting it to improve over the next six months. The Optimism Index has fallen 13.6 points... Read Story
May 12, 2020, 07:10 AM


Pitney Bowes Inc. announced that Wheeler Financial from Pitney Bowes has closed a financing transaction with Aspirar Medical Lab. The medical testing company, located in Cary, NC, is investing the funding in new laboratory equipment and software to... Read Story
May 08, 2020, 07:19 AM


Fleet Advantage announced a new sale-leaseback program designed to infuse cash and flexibility into transportation fleets. Fleet Advantage, a pioneer in flexible lease finance options, developed this program to help fleet organizations substitute for... Read Story
May 08, 2020, 07:17 AM


DLL, a global provider of asset-based financial solutions, delivered a solid commercial performance and strong portfolio growth for the 2019 business year, which also marked the company’s 50th year of operations.  Dating back to its founding in 1969... Read Story
May 07, 2020, 07:22 AM


Preliminary NA Class 8 net orders in April fell to 4,100 units, down 46 percent from March and 72 percent lower than an easy year-ago comparison. Complete industry data for April, including final order numbers, will be published by ACT Research in... Read Story
May 06, 2020, 07:20 AM


The Equipment Leasing and Finance Association announced new webinars scheduled for May. The webinars are part of the association’s “Wednesday Webinars @1” series created to provide critical information to equipment finance professionals in the face... Read Story
May 06, 2020, 07:15 AM


Gordon Brothers, the global advisory, restructuring and investment firm, has released an article providing a perspective on the economic impacts of the coronavirus, available here.The coronavirus pandemic and the spread of COVID-19 is bringing the... Read Story
May 06, 2020, 07:05 AM


Total commercial Chapter 11 filings were up 26 percent to 560 in April from the April 2019 total of 444, according to data provided by Epiq Systems, Inc., the American Bankruptcy Institute reported. Total commercial filings decreased 35 percent in... Read Story
May 05, 2020, 07:22 AM


The fourth release of PwC’s COVID-19 CFO Pulse Survey reveals 77 percent of U.S. chief financial officers (CFOs) anticipate changing workplace safety measures upon returning to on-site work. As employers focus on protecting employees, 65 percent... Read Story
May 04, 2020, 07:14 AM


Marlin Business Services Corp. reported a first quarter 2020 net loss of $11.8 million compared with net income of $8.4 million in the prior quarter and $5.1 million a year ago.Selected highlights: Net loss of $11.8 million compared with net... Read Story
May 01, 2020, 07:25 AM


The passage of the CARES Act has created as many questions as it has solutions for the companies and individuals it was designed to help. The webinar “The Federal Government’s Response to the COVID-19 Pandemic: Implications for Equipment Finance... Read Story
April 30, 2020, 07:22 AM


As the impact of COVID-19 continues to weigh heavily on hospitals and health systems, ToneyKorf Partners released the results of its analytical forecast on the impact of the COVID-19 pandemic for community and urban safety net hospitals. The forecast... Read Story
April 30, 2020, 07:05 AM


In the release of its Commercial Vehicle Dealer Digest, ACT Research reported that the North American commercial vehicle market, as well as the global economy, addressed the spiraling pandemic with shutdown announcements, but the report continued by... Read Story
April 29, 2020, 07:08 AM


Every week, Ritchie Bros.' GovPlanet marketplace sells thousands of items from the U.S. Department of Defense, including demilitarized vehicles, uniforms, tents, medical supplies, and more. In mid-March, when a shortage of personal protective... Read Story
April 28, 2020, 07:20 AM


International Data Corporation (IDC) currently forecasts worldwide IT spending to decline 2.7 percent this year due to the economic impact of the COVID-19 pandemic. While every industry will be affected by the global slowdown, some will reduce their... Read Story
April 28, 2020, 07:15 AM


According to ACT Research’s recently released Transportation Digest, the pervasive negative impact of the COVID-19 pandemic has forced a major downward shift on ACT’s views of the heavy duty market for 2020. However, the report also discusses what... Read Story
April 27, 2020, 07:20 AM


Amur Equipment Finance, Inc. (AmurEF) announced it has been ranked fourth in the annual ranking of the “Top Private Independent” U.S. equipment finance and leasing companies by Monitor. It represents a rise of one position from 2018.  AmurEF took... Read Story
April 24, 2020, 07:10 AM


As the COVID-19 pandemic has strained the U.S. economy and put millions out of work, Americans have experienced the biggest drop in their personal financial satisfaction in more than a decade. The American Institute of CPAs (AICPA) Q1 2020 Personal... Read Story
April 23, 2020, 07:05 AM


While the COVID-19 pandemic has caused many equipment finance companies to drastically reduce their operations and service levels, NewLane Finance, a subsidiary of WSFS Bank, continues to operate at full scale and remains focused on providing... Read Story
April 23, 2020, 07:01 AM


IDS, a provider of asset and equipment finance technology, announced it has released a new IDScloud service that allows equipment finance companies in the U.S. to see portfolio risk correlated with COVID-19 infection rates and the location of... Read Story
April 22, 2020, 07:25 AM


The latest release of ACT Research’s For-Hire Trucking Index, with March data, showed further contraction for both volumes and freight rates, now at 42.4 and 43.2 respective diffusion index readings. Productivity, while neutral at 50.0, likely was... Read Story
April 22, 2020, 07:12 AM


The American Association of Commercial Finance Brokers (AACFB) announced in March that its 2020 Annual Conference, scheduled for May 6-8 in Las Vegas would likely need to be postponed or cancelled due to the COVID-19 crisis. Since that time, the... Read Story
April 22, 2020, 07:10 AM


The third release of PwC’s COVID-19 CFO Pulse Survey reveals 26 percent of U.S. chief financial officers (CFOs) anticipate layoffs, a marked increase from two weeks ago, when PwC surveyed U.S. and Mexico CFOs and found that only 16 percent of them... Read Story
April 21, 2020, 07:07 AM


What is the state of the U.S. economy and the equipment finance industry in the face of the global COVID-19 pandemic? That was the focus of the webinar “Coronavirus and the U.S. Economy: Implications for the Equipment Finance Industry” hosted by the... Read Story
April 20, 2020, 07:23 AM


The Equipment Leasing & Finance Foundation released the April 2020 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI). Overall, confidence in the equipment finance market fell to a historic low in April of 22.3, decreasing from the... Read Story
April 16, 2020, 07:30 AM


Owing to the substantial uncertainty stemming from both COVID-19 and the impact of social distancing measures on the U.S. economy, investment in equipment and software is projected to contract severely in 2020, to between -8.6 percent and -13.5... Read Story
April 15, 2020, 07:30 AM


Cisco is continuing its global commitment to help customers and partners navigate an evolving landscape with the introduction of a new Business Resiliency Program. Offered through Cisco Capital, the vendor financing business within Cisco, and... Read Story
April 15, 2020, 07:24 AM


Maxim Commercial Capital announced it funded hard asset-secured financings for 250 small and mid-sized businesses (SMBs) during the first quarter of 2020. With the onset of the COVID-19 pandemic, Maxim adapted quickly to safer-at-home working... Read Story
April 15, 2020, 07:20 AM


Preliminary used Class 8 volumes (same dealer sales) contracted 8 percent month-over-month in March, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research. Longer-term... Read Story
April 15, 2020, 07:00 AM


Fitch Ratings has revised its 2020 asset performance outlook for equipment lease ABS to negative from stable due to the economic effects of the coronavirus. Equipment loan and lease obligors, both large corporate and small commercial businesses, will... Read Story
April 14, 2020, 07:25 AM


OnDeck announced it is partnering with a top SBA lender to serve small business owners seeking funding under the Small Business Administration’s (SBA) Paycheck Protection Program (PPP).  “OnDeck recognizes that operating a small business during the... Read Story
April 14, 2020, 07:15 AM


The NFIB Research Center released the following data on the small business loan programs: The severity of economic disruptions in the small business sector is quickly increasing the immediate demand for financial assistance among small business... Read Story
April 14, 2020, 07:00 AM


The Financial Accounting Standards Board (FASB) staff issued a question-and-answer document to address stakeholder questions on the application of the lease accounting guidance for lease concessions related to the effects of the COVID-19... Read Story
April 13, 2020, 07:20 AM


The NFIB Small Business Optimism Index fell 8.1 points in March to 96.4, the largest monthly decline in the survey’s history. Nine of the 10 Index components declined, which is evidence that economic disruptions are escalating on Main Street as small... Read Story
April 13, 2020, 07:15 AM


According to ACT Research’s latest release of the North American Commercial Vehicle OUTLOOK, the continued spread of COVID-19 over the past month has resulted in freefalling GDP assumptions, and by extension freight volumes, carrier profits and... Read Story
April 13, 2020, 07:10 AM


Hewlett Packard Enterprise announced HPE Financial Services (HPEFS) is designating more than $2 billion in financing specifically to help customers with their financial challenges stemming from the COVID-19 crisis, including cash-flow or liquidity... Read Story
April 10, 2020, 07:24 AM


Lenovo, one of the world’s largest PC manufacturers, launched a "Partner Stimulus Package" to its channel partners in North America. The initiative was introduced in response to the uncertain economic conditions evolving globally as a result of the... Read Story
April 10, 2020, 07:21 AM


Balboa Capital announced its latest survey that analyzes the current impact of the novel coronavirus (COVID-19) outbreak on small businesses in the United States. The survey reveals that 88 percent of small businesses are being impacted by the... Read Story
April 10, 2020, 07:20 AM


ACT Research released the April installment of the ACT Freight Forecast, U.S. Rate and Volume OUTLOOK report. For the truckload spot market, the report forecasts rates for the next 12 to 15 months.This month, it introduced TL spot rates forecasts for... Read Story
April 10, 2020, 06:55 AM


Financial Accounting Standards Board held a public meeting April 8 to approve measures intended to provide stakeholders with accounting relief and clarity during the COVID-19 crisis. FASB Chairman Russell G. Golden issued the following statement: In... Read Story
April 09, 2020, 07:21 AM


The COVID-19 pandemic has halted two decades of global growth and raised several questions about how economies will function in the future, explains Brendan Gleeson, Group CEO, White Clarke Group.Experts are assessing whether the international... Read Story
April 09, 2020, 07:15 AM


U.S. health officials say Americans should wear masks in public to combat the coronavirus. Financial support by CIT Group Inc. is helping two California apparel makers create masks that protect with style.Sanctuary Clothing and Karen Kane, both Los... Read Story
April 08, 2020, 07:25 AM


The second release of the PwC COVID-19 CFO Pulse Survey reveals growing concerns around the business and economic impact of the coronavirus pandemic among chief financial officers (CFOs) and finance executives. Based on responses collected from 55... Read Story
April 08, 2020, 07:00 AM


Total Commercial Chapter 11 bankruptcy filings for the first calendar quarter of 2020 increased 14 percent from the same period last year, according to data provided by Epiq Systems, Inc. The 1,709 total commercial Chapter 11s from Jan. 1 through... Read Story
April 07, 2020, 07:30 AM


The Equipment Leasing and Finance Association announced a series of free webinars to provide critical information to equipment finance professionals during the global COVID-19 pandemic. The webinars will engage experts on a series of hot topics—from... Read Story
April 07, 2020, 07:20 AM


Resolvion, a leading skip tracing and repossession management company, announced the availability of a new service designed to help lenders manage the flood of deferral/modification requests and, at the same time, better manage the emerging default... Read Story
April 07, 2020, 07:15 AM


Fleet Advantage announced its foundation, Kids Around the Corner, founded in 2014, made a $10,000 donation to the First Responders Children’s Foundation to aid in its emergency response fund amidst COVID-19.First responders are on the front lines of... Read Story
April 07, 2020, 06:00 AM


The Association of Machinery and Equipment Appraisers (AMEA), American Society of Appraisers (ASA), Equipment Appraisers Association of North America (EAANA) and the Equipment Leasing and Finance Association (ELFA) have partnered to jointly host a... Read Story
April 06, 2020, 07:30 AM


In the release of its Commercial Vehicle Dealer Digest, ACT Research reported that, starting in the second half of February, COVID-19 went from a China containment story to one of spiraling pandemic.“There are times when the world that you thought... Read Story
April 06, 2020, 07:00 AM


Preliminary NA Class 8 net orders in March fell to 7,800 units, down 45 percent from February and 51 percent lower than an easy year-ago comparison. March’s Classes 5-7 net orders were 14,700 units, down 36 percent from February and 31 percent from... Read Story
April 03, 2020, 07:25 AM


The Equipment Leasing and Finance Association released a new video interview on important components of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. This new resource provides an overview of loans available for small businesses in... Read Story
April 03, 2020, 07:15 AM


TD Bank Group announced there will be no job losses in 2020 as a result of COVID-19. “It is only natural that the speed and scale of the impacts across society have employees feeling uncertain, even worried,” said, Bharat Masrani, Group President and... Read Story
April 03, 2020, 07:00 AM


Economic activity in the manufacturing sector contracted in March, and the overall economy grew for the 131st consecutive month, according to the nation's supply executives in the latest Manufacturing ISM Report On Business.The report was issued... Read Story
April 02, 2020, 07:13 AM


From the first quarter Phoenix Management “Lending Climate in America” survey results, which was conducted in late February, reveal the coronavirus and other factors will be leading economic driver in 2020.Lenders were asked to identify what they... Read Story
April 01, 2020, 07:10 AM


KeyBank is detailing several steps it has taken to help support its clients facing economic hardship due to the spread of COVID-19. In addition to financial programs already in place, KeyBank announced it will defer payment for at least 90 days for... Read Story
April 01, 2020, 07:00 AM


LTi Technology Solutions announced it is working in a diligent and focused fashion to ensure it continues to provide essential services to its customers during the COVID-19 pandemic. Likewise, LTi is working to do its part by ensuring the safety of... Read Story
March 31, 2020, 07:25 AM


ELFA President and CEO Ralph Petta submitted a letter on March 28 to the U.S. Small Business Administration requesting that equipment finance companies be eligible to participate in the new Paycheck Protection Program under the CARES Act.The Paycheck... Read Story
March 31, 2020, 07:12 AM


CIT outlined a $1 million community commitment to support those affected by COVID-19. These resources will provide some immediate relief to New York City and L.A. County, the respective headquarters for the company and its bank subsidiary. In... Read Story
March 31, 2020, 07:10 AM


Trinity Industries, Inc. announced a realignment of responsibilities for some of its most senior executives. Eric R. Marchetto has been appointed Trinity’s Chief Financial Officer succeeding Melendy E. Lovett, who will return to her previous position... Read Story
March 30, 2020, 07:30 AM


A record 3.28 million Americans filed for unemployment benefits last week as the coronavirus pandemic shut down much of the country. The much-anticipated Labor Department report for the week ended March 21 was one of the first official indicators of... Read Story
March 27, 2020, 07:25 AM


We are in the midst of a historic time, dealing with a global pandemic and the related uncertainty. This is a time for coming together and supporting each other even if it is done in a virtual environment. We at ENGS Commercial Finance Co. want you... Read Story
March 27, 2020, 07:00 AM


The U.S. Senate on Wednesday unanimously backed a $2 trillion bill aimed at helping unemployed workers and industries hurt by the coronavirus epidemic, as well as providing billions of dollars to buy urgently needed medical equipment, Reuters... Read Story
March 26, 2020, 07:28 AM


Flushing Financial Corporation, parent company of Flushing Bank, and Empire Bancorp, Inc., parent company of Empire National Bank, announced the closing of the previously announced merger of Empire with and into Flushing will be delayed due to the... Read Story
March 26, 2020, 07:10 AM


Truist Financial Corporation announced a commitment of $1 million each to LiftFund and Natural Capital Investment Fund, community development financial institutions (CDFIs), to support small businesses affected by the COVID-19 pandemic in communities... Read Story
March 26, 2020, 07:00 AM


Hilco Global has issued a series of short- and mid-term strategic recommendations to assist lenders with current portfolio exposure in the retail market to take appropriate and informed action during the near-term fallout of the current COVID-19... Read Story
March 25, 2020, 07:00 AM


Fitch Ratings completed a rating review of global aircraft lessors, resulting in five issuers' Rating Outlooks being revised to Negative from Stable, one issuer being placed on Rating Watch Negative and one issuer being downgraded by one notch and... Read Story
March 25, 2020, 06:59 AM


The Equipment Leasing and Finance Association launched the Federal Government COVID-19 Response Resource webpage. ELFA created this new resource to provide its members with the latest information regarding how the federal government is responding to... Read Story
March 24, 2020, 07:20 AM


Fitch Ratings has revised its sector Asset Performance and Ratings Outlooks for aircraft and engine asset-backed securities (ABS) to “Negative” from “Stable-to-Negative.” This change reflects material downside risks from the global spread of the... Read Story
March 24, 2020, 07:04 AM


Preliminary used Class 8 volumes (same dealer sales) increased 21 percent month-over-month in 2020’s second month, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research.... Read Story
March 24, 2020, 06:55 AM


NFS Leasing Inc., a Beverly, MA, equipment finance company, has partnered with Gravity Diagnostics, a state-of-the-art CLIA laboratory providing innovative laboratory services including testing of COVID-19. NFS Leasing has financed a total of $2.2... Read Story
March 23, 2020, 07:25 AM


Newly released by PwC, COVID-19 CFO Pulse Survey: What Finance Leaders Are Focused On reveals how chief financial officers (CFOs) and finance executives in the U.S. and Mexico plan to react to the COVID-19 outbreak and what business and economic... Read Story
March 23, 2020, 07:20 AM


February net U.S. trailer orders of 12,700 units were down 15 percent month-over-month and 45 percent below the previous year. Before accounting for cancellations, new orders of 14,800 were down 12 percent versus January, according to this month’s... Read Story
March 19, 2020, 07:15 AM


According to ACT Research’s (ACT) latest State of the Industry: NA Classes 5-8 Report, Class 8 inventory-to-sales ratio, seasonally adjusted, hit 3.5 months in February, while the Classes 5-7 inventory-to-sales ratio dropped from a “highest in a... Read Story
March 18, 2020, 07:15 AM


The Equipment Leasing and Financing Association announced it was making changes to its event schedule reflecting new guidance from the Centers for Disease Control and Prevention related to the COVID-19 coronavirus.“ELFA is closely monitoring and... Read Story
March 18, 2020, 07:13 AM


The NFIB Research Center’s new survey on the current impact of the coronavirus outbreak on small business found that while most small businesses are not currently impacted, owners are concerned about future disruptions if the outbreak continues to... Read Story
March 17, 2020, 07:18 AM


Information is moving fast and so is Ritchie Bros. With concerns about large gatherings growing around the world due to the COVID-19 pandemic, many trade shows and events have been cancelled. Thanks to its industry-leading online bidding system and... Read Story
March 17, 2020, 07:15 AM


Fitch Ratings has revised its sector outlook for global aircraft lessors to negative from stable, reflecting elevated downside risks from the global spread of the coronavirus. The dramatic reduction in global travel demand is already increasing... Read Story
March 17, 2020, 07:00 AM


The Equipment Leasing and Financing Association announced it was making changes to its April event schedule as a precautionary measure due to concerns around the COVID-19 coronavirus.“We have been closely monitoring and evaluating the situation... Read Story
March 12, 2020, 07:15 AM


On Tuesday, March 10, the National Equipment Finance Association's (NEFA's) Executive Director Michael Toglia announced the cancellation of the association's 2020 National Equipment Finance Summit in the following statement to NEFA members:“After... Read Story
March 11, 2020, 07:20 AM