Equipment vendors must protect personal information under FTC rule change
Equipment vendors soon will be held to the same standards as banks when it comes to protecting consumer and employee information. Changes to the Federal Trade Commission’s Safeguard Rule will expand the definition of a financial institution to include equipment vendors. The
Slow, mixed growth ahead in loan market
CHARLOTTE — Slower growth is likely in the U.S loan market this year, but businesses remain steadfast despite concerns of a recession. “I’m getting more and more feedback from business contacts that 2023 looks like a growth year, but a muddling-through
First Citizens Bank Equipment Finance eyes $750M in industrial originations in 2023
CHARLOTTE — First Citizens Bank Equipment Finance has its eye toward growth in its industrial portfolio this year as the lender looks to capitalize on new technologies and leverage its salesforce to enter new markets. First Citizens expects to originate $700
Dealer rentals to grow as bonus depreciation phases out
CHARLOTTE – Rental business at dealerships is poised to gain traction in the coming years as depreciation tax benefits on equipment begins to phase out. Rentals are already gaining traction on equipment with advanced technology, and more segments of the equipment
Automation, standardization increase aftermarket product attachment
CHARLOTTE — Automation is key for equipment dealers looking to sell aftermarket products as it will help increase attachment rates and streamline their integration into the sales cycle. “What I’ve found visiting dealers is that, on the front end, there’s no
Mitsubishi HC Capital Canada to finance Lion Electric EVs
Mitsubishi HC Capital Canada and ENGS Commercial Finance are providing financing to electric vehicle manufacturer Lion Electric for the company’s school bus and truck customers in the United States and Canada. Mitsubishi HC Capital America is set to absorb ENGS Commercial
US business equipment orders increase by the most in five months
Orders placed with US factories for business equipment increased in January by the most in five months, suggesting businesses continue to make longer-term capital investments despite high borrowing costs and lingering economic uncertainty. The value of core capital goods orders, a
Watch for these 3 key themes at Equipment Finance Connect
CHARLOTTE — The equipment finance industry is seeing a period of growth despite hawkish monetary policy and lingering supply chain constraints, with vendors and lenders looking to capitalize on the opportunity to streamline their finance and insurance operations. In fact, new
H&E Equipment Services posts record rental revenue
H&E Equipment Services logged record rental revenue in the fourth quarter of 2022 due in part to favorable industry conditions and successful growth for the company. H&E recorded rental revenues of $245.0 million, up 34.6% year over year. For the full
Kubota NA financing income jumps as inventory improves
Kubota Corp.’s North American financing income jumped as the Japanese OEM raised prices to combat continued inventory constraints. North American finance income for the full year 2022 clocked in at $585.8 million, according to the company’s earnings supplement. NA finance income