DLL, a global financial solutions provider, launched 2023 Workplace Trend Report - The Hybrid Experience. The report covers the future of the workplace and the hybrid experience, and addresses its impact on the industry’s growth and evolution into...
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December 07, 2022, 07:20 AM
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According to ACT Research’s (ACT) latest State of the Industry: NA Classes 5-8 Report, lagging Russia’s invasion of Ukraine by about one month, some freight-related metrics looked increasingly tired in March and early April, but there’s more to the...
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April 19, 2022, 07:00 AM
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After its strongest growth in over a decade in 2021 and solid performance in Q1, equipment and software investment growth of 4.2 percent is forecast for 2022. Annual U.S. GDP growth for 2022 is forecast at 2.8 percent, according to the Q2 update to...
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April 14, 2022, 07:25 AM
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The Equipment Leasing & Finance Foundation (Foundation) released a new study, “Equipment Finance Funding, Securitization & Syndication: Best Practices for Today and Tomorrow,” designed to analyze and report on COVID-19’s impact on the funding markets...
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April 12, 2022, 07:20 AM
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The NFIB Research Center released the latest COVID-19 survey assessing the impact of the COVID-19 pandemic on small businesses. This is the 22nd survey in the series and includes an update on prices, supply chain disruptions, sales levels, staffing...
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March 22, 2022, 07:05 AM
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Sometimes we really do learn from our mistakes! I remember hearing a presentation years ago that the United States should not have allowed Lehman Brothers fail. Certain pundits would suggest, right or wrong and not to be debated, that this event was...
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March 08, 2022, 05:00 AM
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M&T Bank Chairman and CEO René Jones released his letter to shareholders, an annual tradition featuring candid insights on the banking industry and the communities in which M&T operates. This year's letter explores the impact of the pandemic, the...
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March 02, 2022, 07:19 AM
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According to ACT Research’s recently released Transportation Digest, the six key themes that shaped the North American commercial vehicle markets in 2021 will continue to do so in 2022, and likely beyond.“The factors impacting the market start and...
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January 25, 2022, 07:06 AM
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Small and midsize U.S. business leaders remain confident in their companies and resourceful in their approaches to confronting macroeconomic challenges that have created growing pains over the last year, finds JPMorgan Chase’s 2022 Business Leaders...
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January 05, 2022, 07:15 AM
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The NFIB Research Center released its latest COVID-19 survey assessing how the COVID-19 pandemic has affected small businesses. This is the 20th survey in the series and includes updates on supply chain disruptions, the staffing shortage and...
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November 05, 2021, 07:05 AM
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Owing largely to the burst of business activity in the spring and early summer that came in part thanks to rising vaccination rates, annual equipment and software investment growth of 13.2 percent is forecast for 2021, according to the Q4 update to...
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October 13, 2021, 07:23 AM
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Business owners are feeling optimistic about the near-term future of their businesses amid increasing vaccination rates, and those who report that more than three-quarters of their workforce has been vaccinated are the most positive about their...
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September 28, 2021, 07:18 AM
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Given the extraordinary nature of the current COVID-19 pandemic, to provide for the health and safety of all attendees and staff at the 2021 ELFA Annual Convention in San Antonio, TX, on Oct. 24-26, ELFA requests that all conference attendees...
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September 27, 2021, 07:18 AM
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ECN Capital Corp. announced that the Toronto Stock Exchange (TSX) has recognized the company as part of its 2021 TSX30 Program. The TSX30 Program showcases the 30 top performing stocks on the TSX over the last three years based on dividend adjusted...
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September 16, 2021, 07:00 AM
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The COVID-19 pandemic set off an increase in corporate bankruptcy filings not seen since the financial crisis, according to a report released today by Cornerstone Research. The report, Trends in Large Corporate Bankruptcy and Financial...
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August 31, 2021, 07:00 AM
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DLL delivered a strong first-half performance, highlighted by exceptional net profit growth. The company recorded both portfolio and income growth during the first six months of the year, while risk costs improved significantly due to more favorable...
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August 26, 2021, 07:23 AM
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Wells Fargo & Company announced it received the 2021 Apex Award and the 2021 Gramercy Banking and Credit Union Award in honor of its online Small Business Resource Center, which debuted in July 2020 to help small business owners amid the COVID-19...
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August 06, 2021, 07:05 AM
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Umpqua Bank, a subsidiary of Umpqua Holdings Corporation, released its annual 2021 Business Barometer, an in-depth study into the mood, mindset and strategic priorities of nearly 1,200 leaders at small and middle market companies across the United...
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July 30, 2021, 07:10 AM
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Purchasing activity and financing approval rates in the foodservice equipment industry are rebounding at a rapid pace, evidence that restaurants are staging a strong comeback from the COVID-19 pandemic, according to data released this month by...
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July 29, 2021, 07:07 AM
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The NFIB Research Center released its latest COVID-19 survey on how the pandemic has affected small businesses. This is the 18th survey in the series and included in this edition is an update on SBA small business programs, sales levels, staffing...
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July 26, 2021, 07:11 AM
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As much of the country reopens nearly a year and a half since the outbreak of the COVID-19 pandemic in the U.S., midsize business leaders’ optimism about their industries and companies hit record highs, according to JPMorgan Chase’s 2021 Business...
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July 20, 2021, 06:17 AM
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The equipment finance industry saw new business volume decrease 7 percent in 2020, according to the 2021 Survey of Equipment Finance Activity (SEFA) released by the Equipment Leasing and Finance Association (ELFA). This marked the first time in a...
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July 19, 2021, 07:23 AM
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According to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research, used Class 8 volumes (same dealer sales) were 12 percent lower month-over-month, but significantly higher year over year and year...
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June 30, 2021, 07:05 AM
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Global consulting firm, AlixPartners, launched its annual Turnaround & Transformation Survey, which reveals that more than half of restructuring experts from across the U.S. and Europe (56 percent) said that their clients performed better during the...
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June 15, 2021, 07:18 AM
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The Equipment Leasing & Finance Foundation released the results of its first quarterly COVID-19 Impact and Recovery Survey revealing equipment finance companies’ work from home practices and performance of portfolio metrics, including deferrals...
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May 27, 2021, 07:25 AM
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U.S. equipment ABS performance has notably improved in 2021 following elevated delinquencies and defaults in 2020, Fitch Ratings says. Overall, payment deferral programs have successfully assisted obligors during the pandemic, followed by strong cure...
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May 27, 2021, 07:20 AM
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The NFIB Research Center released its latest COVID-19 survey on the impact the pandemic has had on small businesses. This survey is NFIB’s 17th survey in the series. Included in this edition is an update on small business SBA programs, paid sick or...
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May 24, 2021, 07:13 AM
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DLL, a global provider of asset-based financial solutions, reported a net profit for the 2020 business year. In the face of challenging external conditions, the company delivered portfolio and income growth, while net profit was heavily diluted by...
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May 12, 2021, 07:22 AM
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U.S. Manufacturing Technology Orders totaled $437.9 million, an increase of 16.1 percent over February 2021 and an increase of 41.6 percent over March 2020, according to the latest U.S. Manufacturing Technology Orders report published by AMT – The...
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May 12, 2021, 07:19 AM
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Preliminary NA Class 8 net orders in April were 33,500 units, down 16 percent from March, but a whopping 689 percent higher than April of last year’s COVID-19-stricken intake. NA Classes 5-7 demand, with orders at 27,300 units, slipped 15 percent...
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May 05, 2021, 07:03 AM
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Small business owners (SBOs) report they are doing better than expected as the economy continues to gain steam amid the waning pandemic, according to the results of the 2021 Small Business Survey, released by TD Bank. The survey polled more than 750...
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May 04, 2021, 07:00 AM
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The National Association of Credit Management’s Credit Managers’ Index for April 2021 reached a high not seen for more than 15 years. The monthly combined index for manufacturing and service sectors broke through the 60 mark with a reading of 60.6...
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May 03, 2021, 07:22 AM
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New data from Chubb and the National Center for the Middle Market (NCMM), housed at The Ohio State University Fisher College of Business, reveals that the worst of the pandemic’s economic impact might be in the rearview mirror for middle market...
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May 03, 2021, 07:10 AM
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Following a challenging year marred by the impact of the pandemic, today's business owners are optimistic about the next six months and are reexamining their business and financial strategies as they seek opportunities to invest for growth, rebuild...
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April 29, 2021, 07:25 AM
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According to ACT Research’s recently released Transportation Digest, the current business environment for heavy-duty trucks doesn’t get much better than this.“Demand for commercial vehicles in North America is about as good as we’ve seen in 35 years...
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April 27, 2021, 07:00 AM
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U.S. Manufacturing Technology Orders totaled $377.6 million in February 2021, a 17.8 percent increase from January 2021 and a 34.2 percent increase over February 2020, according to the latest U.S. Manufacturing Technology Orders report published by...
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April 19, 2021, 07:19 AM
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Preliminary reports from trailer OEMs indicate 29,500 new trailer orders were booked in March, ACT Research reported. That was 12 percent better than February and more than triple the volume seen last year, when COVID-driven pressures began to...
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April 15, 2021, 07:00 AM
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With U.S. vaccination rates rising quickly and the end of the pandemic in sight, equipment and software investment growth is expected to be robust this year as businesses invest to adapt to a post-pandemic normal. Annual equipment and software...
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April 14, 2021, 07:25 AM
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Flo Financing Consultants LLC is a new financing solution for emerging companies, offering fast, flexible and cost-effective financing solutions for growing businesses. While the economic disruptions of COVID-19 have adversely impacted many sectors...
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April 12, 2021, 07:10 AM
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Preliminary NA Class 8 net orders in March were 40,000 units, down 10 percent from February, but a whopping 424 percent higher than March of last year’s COVID-stricken intake. NA Classes 5-7 demand, with orders at 31,400 units, were up 19 percent...
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April 05, 2021, 07:20 AM
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According to ACT Research’s recently released Transportation Digest, supply will be the determining factor of this year’s heavy-duty vehicle market – not demand, which remains hot.“All the indicators we use to track the heavy-duty truck market point...
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March 24, 2021, 07:10 AM
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The Equipment Leasing & Finance Foundation released the March 2021 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...
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March 18, 2021, 07:25 AM
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The first quarter Phoenix Management “Lending Climate in America” survey results reveal the third stimulus package will cause inflationary pressure in the U.S. economy.The third stimulus package includes nearly $2 trillion in coronavirus relief funds...
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March 18, 2021, 07:11 AM
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U.S. Manufacturing Technology Orders totaled $322.5 million in January, a 29 percent decrease from December 2020, but a 12 percent increase over January 2020, according to the latest U.S. Manufacturing Technology Orders report published by AMT – The...
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March 12, 2021, 07:10 AM
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With the promise of expanded pandemic-related relief and an improving vaccine rollout, U.S. business executives are taking a more optimistic view of the U.S. economy for the coming year, according to the first-quarter AICPA Economic Outlook Survey....
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March 05, 2021, 07:22 AM
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The RSM US Middle Market Business Index (MMBI), presented by RSM US LLP ("RSM") in partnership with the U.S. Chamber of Commerce, rose slightly in January 2021 to 124 from 121 in December 2020, indicating that while the U.S. economy continues to see...
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March 05, 2021, 07:05 AM
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The Equipment Leasing & Finance Foundation released the February 2021 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...
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February 18, 2021, 07:28 AM
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Capsa Healthcare announced its financing arm, Capsa Healthcare Capital, has expanded to offer a wider array of flexible equipment and technology finance options. These new programs are especially beneficial for acute care providers grappling with...
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February 17, 2021, 07:17 AM
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LeaseCrunch said it sees four key trends in 2021 in lease accounting implementation, as non-public companies are the next to get into compliance.“2020 was a year no one expected,” said LeaseCrunch CEO Ane Ohm. “COVID-19 changed the way businesses...
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February 16, 2021, 07:05 AM
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Despite the COVID-19 pandemic, Baystone Government Finance closed its most successful year on record in 2020, the company announced.Baystone was founded 33 years ago in 1987 as the government and non-profit lending division of KS StateBank. The...
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February 09, 2021, 07:22 AM
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The NFIB Research Center released its latest COVID-19 survey on the impact the pandemic has had on small businesses. This survey was conducted after the Consolidated Appropriations Act of 2021 (CAA) was signed into law, which reopened and modified...
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February 09, 2021, 07:15 AM
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Maxim Commercial Capital announced it funded transactions ranging from $10,000 to $1.5 million for borrowers in 42 states during 2020. The financings enabled small and mid-sized businesses (SMBs) get the heavy equipment they need to sustain and grow...
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February 02, 2021, 07:18 AM
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Marlin Business Services Corp. reported fourth quarter 2020 net income of $15.3 million compared with net income of $2.7 million in the prior quarter, and net income of $8.4 million in the fourth quarter a year ago.Jeffrey A. Hilzinger, Marlin’s...
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January 29, 2021, 07:20 AM
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What a difference a year can make. COVID-19’s toll on humanity has been staggering and its economic impact profound. A year ago, few could foresee how the virus would become a lingering pandemic, changing business risks and opportunities while...
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January 25, 2021, 07:00 AM
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The Equipment Leasing & Finance Foundation (the Foundation) released the January 2021 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI). The index reports a qualitative assessment of both the prevailing business conditions and...
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January 21, 2021, 07:25 AM
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Quality Leasing Co., Inc., the mid-tier commercial equipment financing subsidiary of the Tom Wood Automotive Group, posted record-breaking business volume for 2020 — posting 14 percent growth in funding volume year over year.Despite the trials of the...
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January 13, 2021, 07:22 AM
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Commercial debt selling activity by banks, equipment finance companies, fintech lenders and merchant cash advance businesses is expected to grow this year as non-performing loans and leases mount from the continuing impacts of the COVID-19 pandemic...
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January 12, 2021, 07:17 AM
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The U.S. Small Business Administration (SBA), in consultation with the Treasury Department, announced the Paycheck Protection Program (PPP) will re-open this week for new borrowers and certain existing PPP borrowers. To promote access to capital...
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January 11, 2021, 07:18 AM
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Commercial Chapter 11 filings increased 29 percent during calendar year 2020 as the total of 7,128 climbed past the 5,519 recorded during calendar year 2019, according to data provided by Epiq. The 2020 commercial Chapter 11 filing total was the...
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January 11, 2021, 07:15 AM
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The American Institute of CPAs (AICPA) is a strong advocate of additional relief for small businesses and worked in recent months to prepare CPA firms for the next round of Paycheck Protection Program (PPP) funding through the development of...
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December 29, 2020, 07:25 AM
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While COVID-19 has meant tremendous economic hardship across all business sectors, executives widely feel employees have risen to the occasion regarding productivity as a result of much of the country utilizing a work-from-home (“WFH”) model....
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December 28, 2020, 07:12 AM
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Bob Rinaldi released his exclusive video interview with internationally acclaimed geopolitical expert Peter Zeihan. Zeihan discusses the rollout of the COVID-19 vaccine and its economic impact over the next three years on capital equipment spending...
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December 22, 2020, 07:25 AM
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The Equipment Leasing & Finance Foundation has released the Q1 2021 Equipment Leasing & Finance Industry Snapshot, an indispensable information resource for industry participants. Designed for use in executive briefings and presentations, the...
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December 22, 2020, 07:23 AM
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According to ACT Research’s recently released Transportation Digest, the 2020 heavy-duty truck market will close on a robust note, setting the stage for 2021.“Next year will certainly show significant year-over-year growth, as the industry builds on...
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December 22, 2020, 07:05 AM
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The NFIB Research Center released its latest survey focusing on the impact the COVID-19 pandemic and imposed shutdowns have had on small businesses. This is the 14th survey since early March. One-in-four small business owners reported that they will...
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December 18, 2020, 07:22 AM
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The Equipment Leasing & Finance Foundation (the Foundation) released the December 2020 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI). The index reports a qualitative assessment of both the prevailing business conditions and...
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December 17, 2020, 07:25 AM
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Preliminary used Class 8 volumes (same dealer sales) dropped 20 percent month-over-month in November, but are 18 percent higher year-to-date compared to the first 11 months of 2019, according to the latest preliminary release of the State of the...
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December 16, 2020, 07:00 AM
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More than half of business executives (54 percent) say they expect some negative impact to their organizations if a renewed round of economic stimulus does not materialize by early 2021, according to the fourth-quarter AICPA Economic Outlook Survey....
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December 14, 2020, 07:22 AM
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According to the recently released N.A. Commercial Vehicle On-Highway Engine OUTLOOK, published by ACT Research and Rhein Associates, the U.S. economy continues to improve, despite setbacks with increased COVID cases across the country. Additionally...
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December 10, 2020, 06:30 AM
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Financing for restaurant franchise operators in the large and middle-tier segments has mostly bounced back to what it had been before the onset of the COVID-19 pandemic, according to Brian Geraghty, head of Restaurant Finance at Mitsubishi UFJ...
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December 07, 2020, 07:21 AM
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Commercial Chapter 11 filings increased 46 percent in November over November of last year, according to data provided by Epiq. Increasing from November 2019’s commercial Chapter 11 filing total of 449, nearly half of the 654 commercial Chapter 11...
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December 07, 2020, 07:20 AM
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The American Institute of CPAs (AICPA) and a coalition of more than 560 organizations representing millions of employers and American workers sent Congressional leaders a letter urging passage of legislation making it clear that expenses related to a...
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December 04, 2020, 07:18 AM
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NETSOL Technologies, Inc., in collaboration with WRLD, an immersive 3D mapping technology company, introduced NXT, a COVID-aware smart workplace solution. NXT enables employees to safely return to the office by ensuring standard operating procedures...
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December 02, 2020, 07:20 AM
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Corporate leaders now identify fear of further shutdowns from a new wave of COVID-19 infections as their top concern (54 percent), outpacing the implications of a global economic downturn (41 percent), according to the latest results of PwC’s Road to...
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November 30, 2020, 07:22 AM
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Amid industry disruption and turbulence due to the pandemic, the reputation of Independent equipment finance companies for being creative and resilient is being reinforced. A majority of participants polled during a session presented at ELFA 2020...
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November 25, 2020, 07:20 AM
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According to ACT Research’s (ACT) latest State of the Industry: NA Classes 5-8 Report, the pandemic’s toll has not been evenly distributed across the U.S. economy. Transportation is one segment that has fared better than others, and that, in turn...
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November 20, 2020, 07:03 AM
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Today the Equipment Leasing & Finance Foundation releases the November Monthly Confidence Index (MCI-EFI) for the $900 billion equipment finance industry. This month’s index is 56.1, up from the October index of 55.0. The Foundation also releases...
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November 19, 2020, 07:25 AM
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“Who knew that 2030 would arrive in 2020?” This question was posed at a session during ELFA 2020 Business LIVE! to highlight the impact COVID-19 has had on the business world as digital adoption has taken a quantum leap forward. Studies suggest that...
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November 18, 2020, 07:30 AM
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ECN Capital Corp. reported its financial results for the three-month period ended Sept. 30. Adjusted net income applicable to common shareholders from continuing operations of $23.3 million versus $17.0 million for the previous three-month period...
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November 13, 2020, 07:11 AM
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Chesswood Group Limited, a North American commercial equipment finance provider for small and medium-sized businesses, reported its results for the third quarter and provided a COVID-19 update.The company reported net income of $7.5 million in the...
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November 12, 2020, 07:10 AM
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According to ACT Research’s latest release of the North American Commercial Vehicle OUTLOOK, even before the pandemic plunge in Q2, there was never serious doubt that the demand for commercial vehicles would rise in 2021.According to Kenny Vieth...
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November 12, 2020, 07:09 AM
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In the wake of the COVID-19 pandemic, remote work has gone from being a perk offered by employers to standard operating practice for many companies. A survey of 2,053 U.S. adults conducted in October by The Harris Poll on behalf of the American...
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November 09, 2020, 07:16 AM
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Marlin Business Services Corp. reported third-quarter 2020 net income of $2.7 million compared with net loss of $5.9 million in the last quarter, and net income of $7.4 million in the third-quarter a year ago.Third Quarter Summary:
Net income of...
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October 30, 2020, 07:28 AM
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Although the outlook for the U.S. economy is among the most uncertain on record, equipment finance industry leaders expect moderate portfolio growth in 2021, but performance will be highly sector-dependent, according to a new study, Equipment Finance...
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October 28, 2020, 07:24 AM
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Fleet Advantage, an innovator in truck fleet business analytics, equipment financing and life cycle cost management (LCCM) announced results of its latest industry survey which shows how companies in different industries had to modify and scale their...
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October 27, 2020, 06:00 AM
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The COVID-19 pandemic has largely proven to be an accelerator of cloud adoption and extension and will continue to drive a faster conversion to cloud-centric IT. According to a new whole cloud forecast from International Data Corporation (IDC), total...
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October 26, 2020, 07:20 AM
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August 2020 U.S. cutting tool consumption totaled $136.1 million, according to the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology. This total, as reported by companies participating in the Cutting Tool...
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October 23, 2020, 07:10 AM
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September net U.S. trailer orders of 51,208 units were a significant improvement (up 82 percent) from August’s uptick and well above September 2019’s level (up 174 percent). Before accounting for cancellations, new orders of 52,000 units were up 77...
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October 22, 2020, 07:00 AM
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The Equipment Leasing & Finance Foundation released the October 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...
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October 15, 2020, 07:21 AM
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The Equipment Leasing & Finance Foundation has released the Q4 2020 Equipment Leasing & Finance Industry Snapshot, an indispensable resource for industry participants in the midst of the COVID-19 pandemic. Designed for use in executive briefings and...
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October 13, 2020, 07:18 AM
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NFIB’s Research Center released the latest survey relating to COVID-19 and its impact on the small business economy. The majority of Paycheck Protection Program (PPP) borrowers have used all of their loans and are preparing to apply for...
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October 12, 2020, 07:15 AM
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According to ACT Research’s latest release of the North American Commercial Vehicle OUTLOOK, after pulling the cycle forward last month, ACT’s front of the cycle forecasts were marked up across-the-board again in October.According to Kenny Vieth...
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October 12, 2020, 07:00 AM
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After severe declines in equipment and software investment in Q1 and Q2 due to the effects of COVID-19 and the impact of social distancing measures, investment in equipment and software bounced back in Q3 as the U.S. economy began to reopen. While...
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October 07, 2020, 07:17 AM
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The Credit Managers’ Index from the National Association of Credit Management saw its first decline since rebounding after the massive spring setbacks due to the COVID-19 pandemic; however, the future is still bright. Although still in positive...
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October 01, 2020, 07:05 AM
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Companies spent the equivalent of around $15 billion extra a week on technology to enable safe and secure home working during COVID-19, reveals the 2020 Harvey Nash/KPMG CIO Survey. This was one of the biggest surges in technology investment in...
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September 23, 2020, 07:26 AM
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NFS Leasing, Inc. established a new partnership with COLA, CLIA and CDC certified laboratory, Premier Medical Laboratory Services (PMLS). The equipment finance agreement totaling just over $2 Million would fill an immediate need for PMLS as it faced...
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September 23, 2020, 07:22 AM
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The coronavirus pandemic has continued to pose challenges to operators in the global auto and equipment finance industries. As U.S. GDP is predicted to drop by 4.6 percent in 2020, and European GDP is predicted to drop 4.5 percent - while prices are...
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September 21, 2020, 07:20 AM
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July 2020 U.S. cutting tool consumption totaled $137.8million, according to the U.S. Cutting Tool Institute (USCTI) and AMT –The Association for Manufacturing Technology. This total, as reported by companies participating in the Cutting Tool Market...
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September 21, 2020, 07:05 AM
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According to ACT Research’s (ACT) latest State of the Industry: NA Classes 5-8 Report, the US economy is recovering from the early-year pandemic-driven shutdowns, but on a K-shaped trajectory, rather than the earlier speculated V, U or L-like paths....
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September 18, 2020, 07:00 AM
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The Equipment Leasing & Finance Foundation released the September 2020 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI) today. The index reports a qualitative assessment of both the prevailing business conditions and expectations...
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September 17, 2020, 07:28 AM
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For middle-market and small businesses, the COVID-19 pandemic is highlighting the vital importance of investing in new technology, facilitating remote work and maintaining the tech-savvy workforce needed to make it all happen, according to a new...
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September 17, 2020, 07:20 AM
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Existing customer Molecular Testing Labs needed additional laboratory testing equipment fast as demands soared due to COVID-19 concerns. NFS Leasing, Inc. was able to complete the agreement quickly supporting their opportunity to meet the customer’s...
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September 17, 2020, 07:19 AM
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Preliminary information for August indicates the U.S. trailer industry booked 27,500 net orders for the month, a 46 percent improvement from July and more than 150 percent better than the same month last year, ACT Research reported. Before accounting...
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September 16, 2020, 07:00 AM
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eOriginal, Inc. announced rapid growth across its digital lending business, spurred by demand for purpose-built technology that makes lending frictionless, secure and trusted, from closing to the secondary market. In response to COVID-19, originators...
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September 11, 2020, 07:20 AM
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More than 100 asset finance leaders have revealed their vision for the future of asset finance in a post-COVID world, White Clarke Group reported. In the special report, business leaders, including senior executives from some of Europe’s largest...
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September 10, 2020, 07:09 AM
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Quality Leasing Co., Inc., the mid-tier commercial equipment financing subsidiary of the Tom Wood Automotive Group, achieved significant growth in new business funding volume despite the global COVID-19 pandemic.In the months of May through August...
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September 09, 2020, 07:15 AM
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According to the recently released N.A. Commercial Vehicle On-Highway Engine OUTLOOK, published by ACT Research and Rhein Associates, economic indicators in recent months suggest the worst of the COVID-19 impact is in the rearview mirror. The report...
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September 02, 2020, 07:00 AM
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The Credit Managers’ Index (CMI) from the National Association of Credit Management (NACM) has left pre-pandemic numbers in the dust. The August CMI reached a more than two-year high with a combined score of 56.5.—just better than January 2020 and...
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September 01, 2020, 07:10 AM
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In the release of its Commercial Vehicle Dealer Digest, ACT Research reported that freight markets continue to be less impacted by the pandemic than the economy at large, and that a vaccine is seen as the key to unlocking a more broad-based recovery...
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August 31, 2020, 07:00 AM
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According to ACT Research’s recently released Transportation Digest, COVID-19 is just one of several factors that could impact commercial vehicle forecasts now and in the foreseeable future.“The general trend of the COVID contagion curve through July...
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August 28, 2020, 07:13 AM
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DLL reported interim results for the first half of 2020. Despite challenging external conditions, the company delivered portfolio and income growth during the first six months of the year, but net profits were heavily diluted by growing risk costs...
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August 27, 2020, 07:25 AM
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In the midst of the COVID-19 pandemic, many U.S. CEOs remain confident in the growth prospects of the domestic economy and their companies and are accelerating investments in digital transformation, according to a study released today by KPMG LLP...
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August 26, 2020, 07:18 AM
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According to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research, used Class 8 same dealer sales volumes were up 13 percent year-to-date against the first seven months of 2019, with average price...
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August 26, 2020, 07:07 AM
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Onset Financial eclipsed the $100 million benchmark for 2020 new fundings in July. While the company continues to adapt as it overcomes the challenges of a global economic downturn, it remains consistent in its excellent ability to meet its...
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August 21, 2020, 07:25 AM
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The Equipment Leasing & Finance Foundation released the August 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...
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August 20, 2020, 07:18 AM
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As the fight against the coronavirus continues, Peapack-Gladstone Bank has focused on its unwavering support of nonprofits, local organizations and food banks through monetary donations, volunteer engagement and community service. Ensuring food...
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August 19, 2020, 07:00 AM
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In the immediate wake of COVID-19, Global 2000 companies moved to slash funding for emerging technologies, such as automation, artificial intelligence (AI), blockchain and 5G, according to new KPMG International research. However, many executives are...
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August 17, 2020, 07:22 AM
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June 2020 U.S. cutting tool consumption totaled $150.6 million, according to the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology. This total, as reported by companies participating in the Cutting Tool Market...
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August 14, 2020, 07:09 AM
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Umpqua Bank, a West Coast regional bank, released its “Business Resiliency” survey, a nationwide study gauging the impact of the COVID-19 pandemic on the confidence and future of U.S.-based small and mid-size businesses. More than 1,200 leaders at...
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August 13, 2020, 07:28 AM
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KeyBanc Capital Markets Inc. (KBCM), the corporate and investment banking unit of KeyCorp released results from its Technology Group's 11th annual Private SaaS Company Survey (formerly known as the Pacific Crest Securities Private SaaS Company...
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August 12, 2020, 07:14 AM
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Chesswood Group Limited, a North American commercial equipment finance provider for small and medium-sized businesses, reported its results for the second quarter and six months ended June 30, 2020 and provided a COVID-19 update.The company reported...
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August 10, 2020, 07:25 AM
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The latest Paychex | IHS Markit Small Business Employment Watch shows that employment growth moderated as new COVID-19 hot spots emerged in the South and West regions of the U.S. The national jobs index slipped 0.24 percent in July to 94.59. Hourly...
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August 10, 2020, 07:15 AM
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More than half (58 percent) of small business owners (SBOs) report they expect their revenue to decrease in 2020, even though 47 percent stated they did not have to close for any amount of time during the COVID-19 pandemic, according to results of TD...
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August 05, 2020, 07:16 AM
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The Federal Reserve Board announced an extension through December 31 of its lending facilities that were scheduled to expire on or around September 30. The three-month extension will facilitate planning by potential facility participants and provide...
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July 30, 2020, 07:15 AM
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As a result of the stay-at-home orders issued nationally over the past few months, many companies required employees to work remotely when the COVID-19 crisis first began and today many employees are continuing to work remotely. To gain insight into...
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July 30, 2020, 07:00 AM
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May 2020 U.S. cutting tool consumption totaled $136.6 million, according to the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology. This total, as reported by companies participating in the Cutting Tool Market...
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July 30, 2020, 05:10 AM
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According to ACT Research’s recently released Transportation Digest, the tug of war between positive and negative influences on the business environment and trucking reached a pivotal juncture at the end of June, but escalation in new COVID cases...
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July 27, 2020, 07:13 AM
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Balboa Capital surveyed business owners to find out how many companies switched to remote work models due to the COVID-19 pandemic, and to see how effective the results have been. The survey, which was sent to a sample of small business owners in a...
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July 27, 2020, 07:10 AM
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The National Equipment Finance Association's (NEFA's) Executive Director Michael Toglia announced the launch of new online educational sessions and the cancellation of the association's 2020 Funding Symposium in the following statement to NEFA...
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July 23, 2020, 07:25 AM
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CIT Group Inc. reported its second quarter 2020 financial results. The company posted a second-quarter loss to common shareholders of $98 million. That compares with net income of $128 million in the second quarter a year ago.Excluding noteworthy...
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July 21, 2020, 07:18 AM
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The Equipment Leasing & Finance Foundation released the Q3 2020 Equipment Leasing & Finance Industry Snapshot, a resource for industry participants that is more indispensable than ever amid the COVID-19 pandemic. Designed for use in executive...
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July 21, 2020, 07:16 AM
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With the massive economic impact of COVID-19, the need for full food banks is more important than ever and asset management and disposition company Ritchie Bros. has stepped up to help. Over the past several weeks, Ritchie Bros. has made $187,500 in...
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July 21, 2020, 07:00 AM
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According to ACT Research’s (ACT) latest State of the Industry: NA Classes 5-8 Report, May and June have returned to something closer to life as usual, following the shutdowns of March and April. “A survey of the current business landscape shows a...
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July 20, 2020, 07:05 AM
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Marlin Business Services Corp implemented a reduction in workforce on July 15 that affected approximately 25 employees, according to a filing with the Securities and Exchange Commission. The company also announced that the previously disclosed...
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July 17, 2020, 07:25 AM
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The Equipment Leasing & Finance Foundation released the July 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...
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July 16, 2020, 07:22 AM
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EquipmentWatch, the leader in heavy construction equipment research, data and intelligence, released a new report titled "Future-Proofing the Construction Business: Equipment Trends, Insights, and Guidance,” which examines the key trends, challenges...
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July 16, 2020, 07:17 AM
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Business leaders have largely embraced the rapid introduction of home working and digital processes as an inevitable necessity. Though the global lockdown has rapidly accelerated trends in digitalization, seeing many asset finance businesses moving...
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July 16, 2020, 07:14 AM
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The Equipment Leasing and Finance Association announced ELFA 2020 Business Live!, a virtual learning and networking conference for all equipment finance professionals on Oct. 27 and Oct. 28. This online event will replace the in-person ELFA Annual...
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July 15, 2020, 07:29 AM
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After severe declines in equipment and software investment in the first quarter and second quarter due to the effects of COVID-19 and the impact of social distancing measures on the U.S. economy, investment in equipment and software is projected to...
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July 15, 2020, 07:25 AM
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It’s never been truer than it is right now: Solid relationships carry vendors and vendor finance companies through good and bad times.In the vendor finance world, the unprecedented challenges of COVID-19 are reinforcing best practices while teaching...
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July 15, 2020, 06:00 AM
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Navigating the complexities of lending through the COVID-19 pandemic, AP Equipment Financing funded $62.5 million worth of equipment in the second quarter 2020, representing a 49 percent growth over Q2 2019. AP financed $99.5 million year to date...
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July 14, 2020, 07:25 AM
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Following an April industry-leading commitment to donate all gross processing fees from the Paycheck Protection Program, Wells Fargo unveiled the details of an approximately $400 million effort to help small businesses impacted by the ongoing...
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July 10, 2020, 07:20 AM
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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...
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July 09, 2020, 07:20 AM
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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...
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July 08, 2020, 07:30 AM
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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...
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June 29, 2020, 07:22 AM
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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...
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June 29, 2020, 07:15 AM
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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...
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June 29, 2020, 07:00 AM
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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...
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June 26, 2020, 07:20 AM
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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...
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June 26, 2020, 07:00 AM
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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...
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June 25, 2020, 07:19 AM
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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...
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June 25, 2020, 07:12 AM
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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...
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June 23, 2020, 07:30 AM
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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...
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June 22, 2020, 07:00 AM
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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...
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June 19, 2020, 07:14 AM
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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...
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June 18, 2020, 07:22 AM
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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...
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June 18, 2020, 07:20 AM
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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...
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June 17, 2020, 07:30 AM
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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...
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June 16, 2020, 07:10 AM
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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...
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June 15, 2020, 07:15 AM
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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...
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June 15, 2020, 07:10 AM
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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...
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June 10, 2020, 07:16 AM
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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)...
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June 09, 2020, 07:05 AM
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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...
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June 08, 2020, 07:25 AM
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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...
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June 05, 2020, 07:18 AM
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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...
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June 05, 2020, 07:09 AM
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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...
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June 04, 2020, 07:27 AM
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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...
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June 03, 2020, 07:20 AM
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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...
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June 02, 2020, 07:20 AM
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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...
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June 01, 2020, 07:20 AM
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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...
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June 01, 2020, 07:10 AM
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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...
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June 01, 2020, 07:00 AM
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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...
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May 28, 2020, 07:20 AM
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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...
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May 28, 2020, 07:03 AM
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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...
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May 27, 2020, 07:12 AM
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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...
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May 26, 2020, 07:25 AM
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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...
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May 26, 2020, 07:22 AM
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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...
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May 26, 2020, 07:05 AM
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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...
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May 22, 2020, 07:14 AM
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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...
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May 21, 2020, 07:30 AM
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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...
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May 21, 2020, 07:15 AM
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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...
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May 20, 2020, 07:18 AM
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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...
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May 19, 2020, 07:26 AM
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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...
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May 18, 2020, 07:15 AM
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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...
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May 15, 2020, 07:22 AM
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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...
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May 15, 2020, 07:21 AM
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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...
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May 14, 2020, 07:30 AM
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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...
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May 14, 2020, 07:25 AM
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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...
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May 14, 2020, 07:20 AM
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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....
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May 14, 2020, 07:00 AM
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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...
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May 13, 2020, 07:19 AM
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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...
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May 13, 2020, 06:55 AM
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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...
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May 12, 2020, 07:20 AM
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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...
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May 12, 2020, 07:14 AM
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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...
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May 12, 2020, 07:10 AM
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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...
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May 08, 2020, 07:19 AM
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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...
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May 08, 2020, 07:17 AM
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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...
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May 07, 2020, 07:22 AM
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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...
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May 06, 2020, 07:20 AM
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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...
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May 06, 2020, 07:15 AM
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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...
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May 06, 2020, 07:05 AM
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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...
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May 05, 2020, 07:22 AM
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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...
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May 04, 2020, 07:14 AM
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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...
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May 01, 2020, 07:25 AM
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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...
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April 30, 2020, 07:22 AM
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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...
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April 30, 2020, 07:05 AM
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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...
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April 29, 2020, 07:08 AM
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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...
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April 28, 2020, 07:20 AM
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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...
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April 28, 2020, 07:15 AM
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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...
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April 27, 2020, 07:20 AM
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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...
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April 24, 2020, 07:10 AM
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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...
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April 23, 2020, 07:05 AM
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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...
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April 23, 2020, 07:01 AM
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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...
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April 22, 2020, 07:25 AM
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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...
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April 22, 2020, 07:12 AM
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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...
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April 22, 2020, 07:10 AM
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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...
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April 21, 2020, 07:07 AM
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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...
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April 20, 2020, 07:23 AM
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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...
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April 16, 2020, 07:30 AM
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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...
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April 15, 2020, 07:30 AM
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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...
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April 15, 2020, 07:24 AM
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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...
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April 15, 2020, 07:20 AM
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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...
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April 15, 2020, 07:00 AM
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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...
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April 14, 2020, 07:25 AM
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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...
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April 14, 2020, 07:15 AM
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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...
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April 14, 2020, 07:00 AM
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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...
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April 13, 2020, 07:20 AM
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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...
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April 13, 2020, 07:15 AM
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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...
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April 13, 2020, 07:10 AM
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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...
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April 10, 2020, 07:24 AM
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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...
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April 10, 2020, 07:21 AM
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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...
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April 10, 2020, 07:20 AM
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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...
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April 10, 2020, 06:55 AM
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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...
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April 09, 2020, 07:21 AM
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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...
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April 09, 2020, 07:15 AM
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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...
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April 08, 2020, 07:25 AM
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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...
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April 08, 2020, 07:00 AM
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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...
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April 07, 2020, 07:30 AM
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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...
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April 07, 2020, 07:20 AM
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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...
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April 07, 2020, 07:15 AM
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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...
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April 07, 2020, 06:00 AM
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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...
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April 06, 2020, 07:30 AM
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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...
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April 06, 2020, 07:00 AM
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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...
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April 03, 2020, 07:25 AM
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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...
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April 03, 2020, 07:15 AM
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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...
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April 03, 2020, 07:00 AM
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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...
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April 02, 2020, 07:13 AM
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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...
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April 01, 2020, 07:10 AM
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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...
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April 01, 2020, 07:00 AM
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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...
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March 31, 2020, 07:25 AM
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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...
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March 31, 2020, 07:12 AM
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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...
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March 31, 2020, 07:10 AM
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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...
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March 30, 2020, 07:30 AM
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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...
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March 27, 2020, 07:25 AM
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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...
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March 27, 2020, 07:00 AM
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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...
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March 26, 2020, 07:28 AM
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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...
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March 26, 2020, 07:10 AM
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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...
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March 26, 2020, 07:00 AM
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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...
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March 25, 2020, 07:00 AM
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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...
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March 25, 2020, 06:59 AM
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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...
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March 24, 2020, 07:20 AM
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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...
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March 24, 2020, 07:04 AM
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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....
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March 24, 2020, 06:55 AM
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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...
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March 23, 2020, 07:25 AM
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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...
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March 23, 2020, 07:20 AM
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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...
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March 19, 2020, 07:15 AM
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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...
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March 18, 2020, 07:15 AM
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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...
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March 18, 2020, 07:13 AM
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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...
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March 17, 2020, 07:18 AM
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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...
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March 17, 2020, 07:15 AM
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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...
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March 17, 2020, 07:00 AM
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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...
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March 12, 2020, 07:15 AM
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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...
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March 11, 2020, 07:20 AM
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