CIT supplies Utopia Deals with $35M revolving credit facility
CIT’s asset-based lending business has inked an agreement with global retailer Utopia Deals to supply the company with a $35 million revolving credit facility. CIT, a division of First Citizen’s Bank, is providing Plainview, New York-based Utopia Deals with working capital
Trinity Capital enters joint venture with specialized credit manager
Trinity Capital has entered into a joint venture agreement with an unnamed specialist credit manager with more than $5 billion in assets to provide loans and equipment financing to growth-stage companies. The joint venture, called i40, will be co-managed by Trinity and
Inovatec partners with Clik2pay for lender debt collection
Lenders who work with cloud-based software solution provider Inovatec Systems can now collect payments using email and text due to a fresh partnership between Inovatec and payment service provider Clik2pay. Toronto-based Clik2pay gives lenders the capability to send emails or text
CIT director Harold Ray to join fireside chat at Equipment Finance Connect
Harold Ray, director of the industrial finance division at CIT, is set to take the stage for a fireside chat to discuss the state of the equipment finance industry amid a rising interest rate environment and inflationary pressures at Equipment
Equipment finance new business volume up 6%
Overall new business volume in the equipment finance sector in October jumped 6% year over year and 11% month over month to $11.3 billion despite rising interest rates and the expectation of a forthcoming recession. Year to date, cumulative new business
Alta Equipment Group revenue surpasses $1B
Alta Equipment Group year-to-date revenue surpassed $1 billion in the third quarter, matching its revenue for the full year 2021. Construction segment revenue clocked in at $249.7 million, up 35.7% YoY from $184.7 million, according to the company’s Q3 earning’s presentation
EV equipment financing poses ‘huge opportunity’ for lenders
Financing energy equipment presents a potential opportunity for financiers as electric vehicles (EVs) gain traction, evidenced by General Motors’ launch this month of GM Energy, which will produce EV chargers and energy-management products for homes and businesses. GM Energy will manufacture stationary battery packs and
Evaluating competency is key to hiring process, ex-Google recruiter says
ORLANDO, Fla. — Evaluating a candidate’s competency is key to the hiring process, and a step that financial institutions must take to combat attrition, Ginny Clarke, the former director of executive recruiting at Google, said during a keynote address at the 61st
The Equipment Finance Connect 2023 agenda is live, registration open
Royal Media is pleased to announce the agenda for Equipment Finance Connect 2023, which takes place Feb. 27 to Feb. 28 at the Westin Charlotte, is now live. Equipment Finance Connect 2023 is the first industry event to offer equipment vendors
Royal Media, Trnsact launch equipment finance ‘matchmaking’ event
Royal Media, a leading global information provider and the publisher of Auto Finance News, has partnered with Trnsact, a top equipment finance technology provider, to present a new event for the equipment finance sector to foster meaningful industry relationships and results. The $900