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In Brief

ELFA accepting member nominations for 2014 Operations & Technology Excellence Award
April 3, 2014

LeaseTeam, eOriginal present Electronic Transaction Management at National Equipment Finance Association (NEFA) Summit
April 2, 2014

Ritchie Bros. Auctioneers chooses ACL GRC for compliance
February 12, 2014

Wheels secures new credit facility to refinance debt, fund growth
February 12, 2014

Leading ocean carriers, NVOCCs, select Descartes' Japan
Advanced Filing Rule compliance solution

February 12, 2014

Colabor Group announces establishment of new credit facilities
February 3, 2014

GE Capital, Franchise Finance fund acquisition stakes in four hotel properties
February 3, 2014

Ritchie Bros. helps raise $64K for Canada Equipment Dealers Foundation
February 3, 2014

New Inventory+ from Dealertrack combines better data, leading mobile capabilities
January 24, 2014

Bennett Jones unveils Canadian Anti-Spam information site
January 23, 2014

Compliance, technology major focuses of AFSA 2014 Vehicle Finance Conference
January 23, 2014

LeaseTeam signs Ervin Equipment Finance as a new ASPIRE customer
January 21, 2014

West Face Capital launches alternative credit fund group
January 20, 2014

Aviation Finance completes private financing for 5 Boeing 737-800
January 19, 2014

Jaguar Mining to file for creditor protection
December 23, 2013

Basware predicts 2014 will be the ‘Year of E-Engagement’
December 18, 2013

Morguard begins development of Global Transportation Hub in Regina
November 4, 2013

Crestline establishes financing agreement
October 7, 2013

Element Financial closes $585 million senior revolving credit facility
September 4, 2013

Ritchie Bros. sells US$53 million of industrial assets at Houston auction
August 30, 2013

PCI Group deploys Creditron’s remittance processing solution
July 22, 2013

Early-Bird registration open for CFLA annual conference
July 10, 2013

SNAP Financial Group selects LeaseWave
June 25, 2013

New Flyer confirms purchase of North American Bus Industries, Inc.
June 20, 2013

Cervus Equipment Corporation announces dividend
June 18, 2013

Timken expands Canadian industrial services offerings
May 13, 2013

Absolute Software is first-to-market with mobile theft management
May 8, 2013

Basware Analytics gives visual insight to boost financial performance
May 8, 2013

Element strengthens board governance May 8, 2013

Baldor announces capital investment in Quebec facility
Apr 29, 2013

Engs Commercial Finance selects ASPIRE
Apr 8, 2013

Ricoh Canada rolls out cloud-based service
Apr 3, 2013

Tembec amends asset-based secured revolving credit facility
Mar 25, 2013

National Leasing acquires CarQuest Canada's lease portfolio
Mar 21, 2013

Spartan Services gets positive nod from Standard & Poors
Mar 19, 2013

Ally Financial announces renewal of $11 billion in credit facilities
Mar 17, 2013

Gerry Weber becomes new fleet VP at CN
Mar 12, 2013

Element Financial added to TSX Composite Index
Mar 11 , 2013

ELFA appoints new director of membership
Mar 8, 2013

Asset Appraisal Services acquired by IronPlanet
Feb 27, 2013

SPLICE Software partners with PossibleNOW to enhance Permissions & Preferences Solution
Feb 27, 2013

Advisory breakfast to discuss Canadian eCommerce business opportunities
Feb 13, 2013

FIME qualifies first GlobalPlatform TEE product for Trustonic
Feb 11, 2013

National Leasing named one of Canada's 10 most-admired corporate cultures
Nov 20, 2012

Tremcar Inc signs vendor finance agreement
Oct 20, 2012

 

 Industry Events


News Reports

Stornoway Renard Project financing agreement includes massive equipment financing deal for Caterpillar

April 14, 2014--Stornoway Diamond Corporation has entered into a binding financing commitment agreement with Orion Co-Investments I Limited, Ressources Québec, a wholly-owned subsidiary of Investissement Québec, and the Caisse de dépôt et placement du Québec for the construction of the Renard Diamond Project.

Large selection of equipment attracts more than 5,000 bidders from 32 countries

April 11, 2014-Ritchie Bros. Auctioneers, the world's largest industrial auctioneer, sold more than CA$40 million (US$37+ million) of equipment items and trucks at an unreserved public auction in Grande Prairie, AB on April 9 - 10, 2014.

AutoCanada Inc. announces credit facility increase to $190 Million

April 4, 2014--AutoCanada Inc has increased its existing syndicated credit agreement by $60 million, bringing total availability to $190 million. The facility now includes HSBC Bank Canada, Alberta Treasury Branches and Royal Bank of Canada, with HSBC acting as administrative agent to the Credit Agreement.

Export Development Canada finances Turkey’s AkLease to create opportunities for Canadian equipment makers

April 4, 2014--Export Development Canada (EDC) has provided a USD $10 million line of credit to Turkish leasing company Ak Finansal Kiralama (AkLease), which will be used to provide financing to Turkish companies leasing equipment from Canadian manufacturers.

Q2 US economic outlook upgrades 2014 equipment, software investment growth forecast to 4.2 percent

April 3, 2014--Investment in equipment and software is expected to grow 4.2 percent in 2014, according to the Q2 update to the 2014 Equipment Leasing & Finance U.S. Economic Outlook released today by the Equipment Leasing & Finance Foundation. The Foundation increased its 2014 equipment and software investment forecast to 4.2 percent, up from 3.1 percent growth forecast in its 2014 Annual Outlook released in December 2013.

Construction industry executives expect higher levels of non-residential construction, equipment purchases and rentals in 2014

April 2, 2014-U.S. construction contractors and equipment distributors are optimistic that local non-residential construction activity will improve in 2014, according to a recent survey by Wells Fargo Equipment Finance, a subsidiary of Wells Fargo & Company. As part of its 2014 Construction Industry Forecast, Wells Fargo’s construction Optimism Quotient (OQ) – the survey’s primary benchmark for measuring contractor and equipment distributor sentiment – is at a historic high of 124, up 18 points from 106 in 2013 and up from the survey low of 42 in 2009.

Auctions in the next six weeks will feature farming equipment from hundreds of owners across Canada

March 20, 2014--Ritchie Bros. Auctioneers, the world's largest auctioneer of farm, construction and other equipment, will conduct more than 60 unreserved public agricultural auctions in Canada in March and April 2014. Four auctions feature equipment from multiple sellers—Saskatoon, SK (March 25); Lethbridge, AB (March 27); Regina, SK (April 7); and Grande Prairie, AB (April 9 - 10).

March 18, 2014--Securefact Transaction Services, Inc., a trusted provider of both on-demand and managed services for secured lending, know-your-customer (KYC) requirements and regulatory compliance, has signed an agreement with First West Leasing Ltd. of Langley, BC to manage their lien registrations, including PPSA and RDPRM registrations, amendments and discharges.

CU Dealer Finance integrates with RouteOne Canada

March 13, 2014--RouteOne Canada has completed integration with CU Dealer Finance Corporation, a Saskatchewan-based network of Credit Unions with an extensive dealer network across Saskatchewan. CU Dealer Finance Corp. dealers will be able to send credit applications electronically through the RouteOne Canada platform, as well as manage the entire scope of the credit application process.

CN targets C$2.1 billion in 2014 capital investments to raise network safety and efficiency, improve service, grow business

March 6, 2014 --CN recently revealed a 2014 plan to invest approximately C$2.1 billion to continue to raise network safety and efficiency, improve service and grow the business. Claude Mongeau, president and chief executive officer, said: “CN is committed to making continued improvements in its safety performance – infrastructure investments are critical to this, as well as to driving improvements in customer service and taking advantage of freight opportunities to grow the business at low incremental cost.

UPS invests in propane for U.S. delivery fleet

March 5, 2014--UPS plans to purchase 1,000 propane package delivery trucks and install an initial 50 fueling stations at UPS locations. The investment in propane vehicles and infrastructure is approximately $70 million. UPS currently operates nearly 900 propane vehicles in Canada.

Construction executives expect higher levels of non-residential construction, equipment purchases and rentals in 2014

March 3, 2014--Construction contractors and equipment distributors are optimistic that local non-residential construction activity will improve in 2014, according to a recent survey by Wells Fargo Equipment Finance, a subsidiary of Wells Fargo & Company that includes Canadian data.

RBC PMI signals solid output growth in February

March 3, 2014--February data signalled that the Canadian manufacturing sector remained in expansion mode, with output, new orders and employment all rising during the month. That said, the latest increase in new work was the slowest since August 2013, according to the RBC Canadian Manufacturing Purchasing Managers' Index™ (RBC PMI™). A monthly survey, conducted in association with Markit, a leading global financial information services company, and the Supply Chain Management Association (SCMA), the RBC PMI offers a comprehensive and early indicator of trends in the Canadian manufacturing sector.

2014 US Large Capital Equipment Outlook--CIT

•Equipment Obsolescence Driving the Replacement Cycle in 2014
•Automotive, Energy and Industrial Sectors Seeing Growing Demand
•Forecast for the Equipment Financing Sector Calls for Steady Growth
•Regulatory Environment Could Impact Equipment Purchases

February 28, 2014--The uncertainty surrounding the US federal budget last year resulted in a delay in hiring and large capital equipment purchases among many middle market companies, according to Vince Belcastro, Managing Director and Group Head of CIT Capital Equipment Finance at CIT Group Inc. a major provider of financing and advisory services to small businesses and middle market companies.

Ritchie Bros. sells more than C$57 million in first Canadian auction of 2014

February 28, 2014--Ritchie Bros. Auctioneers sold more than CA$57 million (US$51.5+ million) of equipment and trucks at its first Canadian auction of 2014, held at its permanent auction site in Edmonton, AB on February 26 - 27, 2014. Close to 3,800 equipment items and trucks were sold in the two-day auction, including a large selection of oilfield hauling equipment, as well as construction, transportation and other heavy equipment items. Every item was sold unreserved, without minimum bids or reserve prices. Bids were made in person at the Edmonton auction site, online in real time at rbauction.com and by proxy.

Avis Budget Group acquires Edmonton Budget licensee

February 28, 2014--Avis Budget Group, Inc. has agreed to acquire its existing Budget Car & Truck Rental licensee in Edmonton, Alberta, Canada, comprising 26 rental locations in seven cities in total. This investment of approximately $30 million, plus the cost of acquired fleet, will enable the Company to expand its footprint of Company-operated locations while offering Budget customers a consistently outstanding rental experience and capturing a larger share of Canada's domestic, international-inbound and truck rental spend.

Chesswood purchases Northstar Leasing for $10.4M in cash

February 18, 2014--Chesswood Group Limited has completed the purchase of all of the outstanding shares of Northstar Leasing Corporation a long-standing non-prime commercial equipment finance company, located in Barrie, Ontario.

PNC Bank expands commercial banking services in Canada, including equipment finance

February 18, 2014--Equipment financing executives have a new option in Canada. PNC Bank, N.A., a member of The PNC Financial Services Group, Inc. received approval today from Canada's Office of the Superintendent of Financial Institutions (OSFI) for a license to expand commercial banking services across Canada.

Carbon credit transactions among data using new connectivity between equipment, data platforms for farmers

February 18, 2014--Agri-Trend Data Corp and John Deere are creating connectivity conduits between MyJohnDeere and The AGRI-DATA Solution. Using John Deere's Wireless Data Transfer technology, the firms are linking data from field equipment into The AGRI-DATA Solution Platform to save growers time and let them analyze their data to make decisions more efficiently, including carbon credit transactions.

Ritchie Bros. EquipmentOne delivers strong customer results in its first year

February 11, 2014--Ritchie Bros., the world's largest seller of used industrial equipment (Ed. note--and the subject of our cover story in the Jan/Feb issue of CEF) recently celebrated the one year anniversary of Ritchie Bros. EquipmentOne, the secure online marketplace launched by the company in early 2013. In its first year, EquipmentOne welcomed 580,000 unique visitors to the site and sold equipment and materials for both large corporate customers and private sellers.

KPMG's 2014 Automotive Executive Survey reveals trends impacting a fast-evolving market

February 11, 2014--Plug-in hybrids are forecasted to win the race among e-vehicles to produce cleaner, more efficient vehicles, according to the 15th annual Global Automotive Executive Survey. The Global Automotive Executive Survey is KPMG International's annual assessment of the current state and future prospects of the worldwide automotive industry.

RBC PMI™ dips to a nine-month low in January

February 3, 2014--January data pointed to a setback for the manufacturing sector at the start of 2014, according to the RBC Canadian Manufacturing Purchasing Managers' Index™ (RBC PMI™). A monthly survey, conducted in association with Markit, a leading global financial information services company, and the Supply Chain Management Association (SCMA), the RBC PMI offers a comprehensive and early indicator of trends in the Canadian manufacturing sector.

PayNet, Canadian Finance & Leasing Association joint initiative looks to provide new industry performance data

January 27, 2014 --To help the Canadian Finance & Leasing Association (CFLA) members benchmark their business and to provide industry leadership, PayNet Canada, the premier provider of risk management tools and market insight to the commercial credit industry announces a joint initiative with the CFLA to provide Canadian equipment finance companies with customized industry performance information.

Linedata successfully managed 40 major projects for Lending & Leasing industry during 2013

January 23, 2014--Linedata, the global solutions provider dedicated to the investment management and credit industries, has expanded its lending & leasing platforms with 40 major projects managed during the last year for 34 financial institutions in Europe, Africa, North and South America. The projects included new client signings and existing clients who further extended their relationship with Linedata, engaging in additional product coverage, services and consulting.

Element Financial expects to $3.8 billion in organic new business in 2014

January 17, 2014--Element Financial Corporation expects to organically originate more than $3.8 billion of new equipment loans and leases during 2014 across the Company's five North American market verticals representing an increase of 80% over the $2.1 billion Element estimates it originated in 2013.

Canada Motor Import signs financing deal with GE Captial

January 15, 2014 --GE Capital's Commercial Distribution Finance (CDF) business announced today that it's providing inventory financing to Canada Motor Import Inc. (CMI), the country's exclusive importer of CFMOTO products.

Nearly half of mining and metals companies believe credit availability is improving: EY report

December 18, 2013--Improved credit availability is set to drive momentum in the mining and metals sector in the year ahead, according to EY's Capital Confidence Barometer: Mining & metals sector. Fifty-five percent of companies are already focused on growth — compared to 38% in 2012.

The success of Canadian business depends on modern and efficient infrastructure says Chamber of Commerce

December 18, 2013--One of the most critical challenges facing Canada is invisible. It's the steady deterioration of the public infrastructure - roads, water mains, sewers, bridges - that allow people to do business and live well. Confronting the major costs facing governments at all levels will test the foresight and cooperation of political leaders and officials.

2014 US equipment outlook forecasts 3.1 percent growth

December 16, 2013 --Investment in equipment and software is expected to grow 3.1% in 2014 as economic conditions solidify and business confidence continues to recover, according to the Annual 2014 Equipment Leasing & Finance U.S. Economic Outlook released today by the Equipment Leasing & Finance Foundation. Equipment investment is expected to grow across most verticals, as underlying economic fundamentals continue to improve. Overall in 2014, growth is forecast to be mixed, with some sectors outperforming others. The Foundation’s report, which is focused on the $827 billion equipment leasing and finance industry, forecasts 2014 equipment investment and capital spending in the United States and evaluates the effects of various related and external factors in play currently and into the foreseeable future. The report will be updated quarterly throughout 2014.

GE Capital finances new partnership's acquisition of Universal Helicopters

December 9, 2013--GE Capital is providing a $10 million senior credit facility to a group of investors to purchase and operate Universal Helicopters Newfoundland and Labrador, a regional helicopter services company. The new owners, through a limited partnership formed by Nunatsiavut Group of Companies, Tasiujatsoak Trust and CAPE Fund LP, are acquiring UNHL from its majority shareholder, Harry R. Steele, and minority shareholder, Norman Noseworthy.

LeasePlan Canada to open in January 2014

December 9, 2013 --LeasePlan Corporation N.V., the world's leading fleet management and driver mobility company, announced today that it will expand its North American service offering to include Canada in January 2014. LeasePlan and the Canadian fleet management company Foss National Leasing Ltd. (FNL) have entered into a licensing agreement whereby FNL will operate its newly-formed subsidiary LeasePlan Canada. With this agreement and formation of the new company, LeasePlan's North American reach now consists of LeasePlan USA, LeasePlan Mexico and, in 2014, LeasePlan Canada.

U.S. Equipment lease finance industry confidence improves in November

December 5, 2013 --The Equipment Leasing & Finance Foundation (the Foundation) releases the November 2013 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI) today. Designed to collect leadership data, the index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $827 billion equipment finance sector. Overall, confidence in the equipment finance market is 56.9, an increase from the October index of 54.0, demonstrating an overall steady industry outlook despite continuing concerns about the U.S. economy and the negative impact of federal government fiscal policies.

October new business unchanged year-over-year, down one percent month-to-month, up five percent year-to-date

December 1, 2013 --The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity from 25 companies representing a cross section of the $827 billion equipment finance sector, showed their overall new business volume for October was $7.6 billion, unchanged from new business volume in October 2012. Month-over-month, new business volume was down 1 percent from September. Year to date, cumulative new business volume increased 5 percent compared to 2012.

Cassels Brock represents First Financial on its expansion into Canada

November 21, 2013 --First Financial Corporate Services (FFCSI), a provider of medical, material handling and IT equipment leasing solutions, recently announced its expansion into Canada and the formation of FF Canadian Leasing, Inc. (FFCLI). Cassels Brock is proud to have successfully represented First Financial in its cross-border expansion.

Element Financial Corporation acquires US Helicopter's $250 million portfolio

November 9, 2013 --Element Financial Corporation, one of North America's leading independent equipment finance companies, has entered into an agreement to acquire a $250 million portfolio of finance assets secured by individual helicopters operated by a diversified base of customers across a variety of industries in the U.S.

Element finances more than 100 aircraft in 18 months

September 30, 2013--Element Financial Corporation's aviation finance business unit, acting as lessor, lender or lead arranger, has successfully leased or financed more than 100 aircraft since the inception of this business unit in the first quarter of 2012.

Lion Bus gets North American vendor finance agreement

September 30, 2013 --Element Financial Corporation, one of North America's leading independent equipment finance companies, today announced that it has entered into a North American vendor finance agreement with Lion Buses Inc. of St. Jerome, Quebec, one of North America's leading manufacturers of the most innovative school buses in the industry.

CFLA names Paul Zalesky as Member of the Year 2012-2013

September 23, 2013 --At its 40th Anniversary conference, CFLA Chairman Jeffery Hartley announced that Paul Zalesky,CEO of AllWest Insurance Services, as the CFLA Member of the Year 2012-2013. This Award recognizes individuals, volunteers from members, who work quietly for the Association, committed to its goals.

U.S. equipment lease finance industry confidence remains steady in September

September 20, 2013 --The Equipment Leasing & Finance Foundation (the Foundation) releases the September 2013 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI) today. Designed to collect leadership data, the index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $725 billion equipment finance sector. Overall, confidence in the equipment finance market is 61.3, steady with the August index of 61.0.

Ritchie Bros. to conduct six unreserved auctions in Eastern Canada in September

September 9, 2013 --Ritchie Bros. Auctioneers, the world's largest auctioneer, will conduct six unreserved public auctions in Eastern Canada in September. In total, more than 6,500 equipment items and trucks will be sold in the six auctions, located in St. Johns, NL (September 10); Toronto, ON (September 17 - 18); Oakville, ON (September 19); Truro, NS (September 20); Rapides-Des-Joachims, QC (September 23); and Montreal, QC (September 25 - 26). The Company will conduct another unreserved public auction in Eastern Canada in Ottawa, ON on October 17. Bids in all auctions can be placed in person at the auction sites, online in real time at rbauction.com or by proxy.

ELFA comments on new lease accounting developments as Sept. 13 deadline nears

September 9, 2013 --William G. Sutton, CAE, President and CEO of the Equipment Leasing and Finance Association, released the following statement highlighting recent developments that add to mounting evidence that the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) should reevaluate their proposal to overhaul lease accounting.

IMS introduces innovative next-generation fleet solution

September 4, 2013 --Intelligent Mechatronic Systems (IMS), a leading Connected Car™ company, is previewing a next-generation IMS Fleet Intelligence solution. The produce was shown this week at Insurance Telematics USA 2013.

CTL migrates onto the Dealer Track Network

September 4, 2013--After 3 years of developing trusted dealer relationships, building solid infrastructure and backed by Sun Life Financial, Canadian Title Loan Corporation (CTL) is migrating its loan origination process to the Dealer Track Network.

RBC PMI™ signals modest improvement in manufacturing business conditions in August

September 4, 2013--Canada's manufacturing expansion was sustained for a fifth consecutive month in August, but the rate of growth was modest and below average, according to the RBC Canadian Manufacturing Purchasing Managers' Index™ (RBC PMI™). A monthly survey, conducted in association with Markit, a leading global financial information services company, and the Purchasing Management Association of Canada (PMAC), the RBC PMI offers a comprehensive and early indicator of trends in the Canadian manufacturing sector.

U.S. equipment lease finance industry confidence up fourth consecutive month

August 21, 2013 --The Equipment Leasing & Finance Foundation (the Foundation) releases the August 2013 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI) today. Designed to collect leadership data, the index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $725 billion equipment finance sector. Overall, confidence in the equipment finance market is 61.0, an increase from the July index of 59.4, and the fourth consecutive increase of the MCI-EFI.

GE Capital sees positive trends in Canadian RV, Motorsports, Marine industries at mid-year

August 20, 2013--GE Capital’s Commercial Distribution Finance (CDF) business said it has seen positive trends in the Canadian marine, motorsports and recreational vehicle (RV) industries through the first half of the year. It expects favorable conditions to continue into 2014.

Davis + Henderson completes acquisition of Harland Financial Solutions

August 19, 2013--Davis + Henderson Corporation has completed the US$1.2 billion acquisition of Harland Financial Solutions, a leading U.S.-based provider of strategic technology, including lending and compliance, core banking, and channel management technology solutions.

Element reports strong volume growth in Q2-2013 across all verticals

August 14, 2013--Element Financial Corporation, one of North America's leading independent equipment finance companies, today reported financial results for the three and six month periods ending June 30, 2013 showing strong growth in origination volumes across all of the Company's business verticals. New originations increased 34% to $397.9 million for the three month period versus $296.3 million in the previous period.

Contrans Flatbed Group, Travelers Financial Corporation announce owner operator development program

July 29, 2013 --Contrans Flatbed Group LP and Travelers Financial Corporation announced a new program to assist Contrans drivers to become new owner/operators. The 'Contrans Flatbed Group Owner Operator Development Program' (OODP) program makes acquisition of new tractors and flatbeds a reality for drivers who want to take the next step in sharing in the success and growth of the company.

ELFA: June New Business Up 8 Percent Year-over-year, Up 15 Percent Month-to-month

July 25, 2013 --The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity from 25 companies representing a cross section of the $725 billion equipment finance sector, showed their overall new business volume for June was $8.6 billion, up 8 percent compared to volume in June 2012. Month-over-month, new business volume was up 15 percent from May. Year to date, cumulative new business volume increased 10 percent compared to 2012.

AirTransat agrees to lease four Boeing B737-800s, renew leases of Airbus A330s

July 24, 2013 --Transat A.T. Inc. announces the signing of an agreement with the U.S.-based International Lease Finance Corporation (ILFC) for the long-term (eight-year) leasing of four Boeing B737-800 aircraft. These planes will be introduced in summer 2014 and become the core of Air Transat's permanent narrow-body fleet. They will be used on sun-destination routes to Mexico, the Caribbean and Florida. The agreement also includes the renewal through 2020 and 2021 of the leases on six Airbus A330 aircraft—three A330-200s and A330-300s—with improved terms.

Equipment lease finance industry confidence up again In July

July 22, 2013--The Equipment Leasing & Finance Foundation (the Foundation) released the July 2013 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI). Overall, confidence in the equipment finance market is 59.4, an increase from the June index of 57.3, reflecting industry participants’ increasing optimism despite continued moderate demand for equipment.

Q3 Economic Outlook: Equipment and Software Investment Will Increase in Second Half of 2013

July 10, 2013 --U.S. Investment in equipment and software is expected to grow 4.8 percent in 2013, according to the Q3 update to the 2013 Equipment Leasing & Finance U.S. Economic Outlook released today by the Equipment Leasing & Finance Foundation.

Canadian consultation provides homegrown response to international audit proposals

June 18, 2013--How best to maintain auditor independence and enhance professional skepticism are among the key recommendations emerging from a Canadian consultation effort that examined proposed international reforms aimed at adding value to financial reporting.

Canadian commercial lending rises in first quarter

By John Tilak, Reuters

May 31, 2013 --Commercial borrowing by small and medium-sized businesses in Canada climbed in the first quarter, driven by robust domestic and global demand, a PayNet survey showed on Wednesday.

IRON Solutions to supply data to JP Morgan Research for quarterly report on used agricultural equipment market

May 14, 2013 --IRON Solutions will supply its IRON Index data to J.P. Morgan Equity Research for the J.P. Morgan quarterly report on the North American used agricultural equipment market. Ann Duignan, Machinery Equity Analyst at J.P. Morgan, will publish the information from the IRON Index, which is IRON Solutions' measurement of pricing levels in the used agricultural equipment market. This information is aggregated by IRON Solutions from dealer, auction, private party, and manufacturer-owned used equipment sales transactions.

CoActiv Capital Partners rebranded as Element Financial (USA)

May 4, 2013--Element Financial Corporation, one of North America’s leading independent equipment finance companies, has commenced rebranding the operations of the recently acquired CoActiv Capital Partners under Element’s North American identity. Effective immediately, the legal name of CoActiv Capital Partners, Inc. has been changed to Element Financial Corp. doing business as Element Financial (USA).

GE Capital adds dedicated team to expand Canadian agricultural equipment financing

April 25, 2013 --GE Capital's Commercial Distribution Finance (CDF) business is adding resources to support Canadian manufacturers and dealers of agricultural equipment. Through increased credit capacity and an expanded, experienced sales force, CDF plans to significantly grow its presence in this important sector of the economy.

Ontario Teachers' Pension Plan completes acquisition of SeaCube Container Leasing

April 25 --Ontario Teachers' Pension Plan (Teachers') acquired SeaCube Container Leasing Ltd. (SeaCube) following approval of the transaction by shareholders of SeaCube at a special general meeting held on April 23, 2013.

April 22--Cat Financial reported first-quarter 2013 revenues of $680 million, an increase of $12 million, or 2 percent, compared with the first quarter of 2012. First-quarter 2013 profit after tax was $141 million, a $21 million, or 18 percent, increase from the first quarter of 2012.

Equipment Lease Finance Industry confidence eases in April

April 19, 2013 –-The Equipment Leasing & Finance Foundation (the Foundation) released the April 2013 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI) today. Designed to collect leadership data, the index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $725 billion equipment finance sector. Overall, confidence in the equipment finance market is 54.0, an easing from the March index of 58.0, reflecting industry participants’ continuing concerns over the economy and the impact of federal policies on capital expenditures.

More than 5,000 heavy equipment items to be sold at Ritchie's second Edmonton auction

April 18, 2013--Ritchie Bros. Auctioneers, the world's largest industrial auctioneer, will conduct a massive three-day heavy equipment auction in Edmonton, AB on April 24 - 26, 2013. More than 5,000 heavy equipment items and trucks will be sold in the auction—every item will be sold to the highest bidder, regardless of price—without minimum bids or reserve prices.

Inside auto finance, leasing trends, prospects for 2013

By Ed White – Chairman, White Clarke Group

At the turn of the year, I wrote that the global auto market looked set for a year of subdued growth outside of hotspots such as China and India, but in the US the sector would certainly see a continued rise in sales. Since then, the US auto market has indeed continued to perform well, aided by modest economic recovery and greater availability of credit. The hazard of the ‘fiscal cliff’ has been sidestepped, if only for the short term, and the stock market has outperformed expectations, indicating that confidence is growing and that perhaps the economy really is on the mend.

U.S. small businesses cut borrowing for second straight month

April 4, 2013--Small U.S. businesses cut back on borrowing in February for a second straight month, hinting at slower growth ahead even as other economic data shows the recovery picked up in the early part of the year.

New products vital for recovery in Canada's computer and electronic product manufacturing industry

April 3, 2013--Profits in Canada's computer and electronic product manufacturing industry slipped to a nine-year low in 2012. In 2013, the industry is counting on a revival in Blackberry's fortunes for a rebound in its bottom line, according to the Winter 2013 outlook for the industry, part of the Canadian Industrial Profile.

U.S. equipment, software investment to grow 5.6% in 2013

April 3, 2013 –-Investment in equipment and software in the US is expected to grow 5.6 percent in 2013, according to the Q2 update to the 2013 Equipment Leasing & Finance U.S. Economic Outlook released today by the Equipment Leasing & Finance Foundation.

The ADESA Canada Used Vehicle Price Index

The ADESA Canada Used Vehicle February Price Index has been updated through February. The index was up slightly after being adjusted for seasonality. Wholesale prices rose on average by about 0.1% M-o-M.

Forest products company CEOs foresee a bumpy year ahead, but expect long-term revenue growth: PwC

March 28, 2013 —Forest, paper & packaging (FPP) CEOs are less confident about revenue growth over the next 12 months than their peers in other sectors, but are more optimistic about their company’s revenue prospects in the next three years, according to PwC’s 16th Annual Global CEO Survey released recently in Davos, Switzerland.

February U.S. new business volume decreased by 6 percent year-over-year

March 25, 2013 --The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity from 25 companies representing a cross section of the $725 billion equipment finance sector, showed their overall new business volume for February was $4.7 billion, down 6 percent from volume of $5 billion in February 2012. Month-over-month, new business volume was down 20 percent from January. Year to date, cumulative new business volume was up five percent compared to 2012.

BUDGET REPORTS & COMMENTARY

Government "seizing the opportunity" to leverage military procurement in high-end manufacturing

Budget extends small business accelerated capital cost allowance for machinery and equipment for two years

FPAC appreciates budget help for innovation, market expansion, skills training

Cutting infrastructure spending the wrong choice for Canada, says think tank

Merit Canada applauds promotion of infrastructure funding

Canadian Tire joins technology start-ups to develop new applications for 'retail of the future'

March 21, 2013 --Canadian Tire today opened its new digital development lab in Silicon Valley North, joining nearly 1000 companies as the first retail partner in Communitech which supports tech companies at all stages of their growth and development — from startups to rapidly growing SMEs, to large global players — in the commercialization of innovative technologies.

U.S. equipment lease finance industry confidence levels off in March

March 21, 2013 --The Equipment Leasing & Finance Foundation's March 2013 Monthly Confidence Index for the U.S. Equipment Finance Industry (MCI-EFI) shows a slight decrease in March compared to February.

Construction continues strong in Saskatchewan; mapping projects key to managing trade demands

March 20, 2013 --Non-residential construction growth in Saskatchewan has been leading the country and other industries over the past decade, and that is not about to change - at least for the next couple of years.

Managing worker mobility key to meeting BC construction needs

March 20, 2013 --Over the next decade or so, construction industry growth in British Columbia will be concentrated in utility and mining projects, mostly in the north.

Co-marketing program helps companies ramp up natural gas transportation solutions

March 20, 2013 --A new joint marketing program aimed at heavy-duty trucking customers may mean investment opportunities for lenders. The program by Westport Innovations Inc and Clean Energy Fuels Corp helps firms implement new on-board fuel storage, high-performance natural gas engines, and reliable fueling options for natural-gas trucking.

ELFA issued the following Top 10 U.S. Equipment Acquisition Trends for 2013

March 18, 2013 --Each year, U.S. businesses, non-profits and government finances more than $600 billion in capital goods or fxied assests, which means trends in those sectors has an impact on the North American economy. The Equipment Leasing & Financing Association examines the top trends impacting those markets, to to help businesses with their strategic equipment acquisition plans.

Federal budget 2013 may accelerate capital cost allowances in oil, gas sectors, KPMG predicts

March 14, 2013 --With a goal to balance the books by 2015, the Conservative government is expected to stay the course in its approach to the federal budget this year, KPMG predicts. However, the firm also expects the budget to explore expanding the accelerated capital cost allowance to encourage construction of domestic infrastructure in the oil and gas sector.

Odessa announces end-of-lease software

March 12, 2013 --Odessa Technologies, Inc. the developer of the LeaseWave suite of products, a fully integrated end-to-end lease and loan management solution, announced the introduction of a new product for companies looking to better manage their end of lease processes.

Maaco Fleet Solutions relaunched with suite of products, services

March 11, 2013--Maaco, part of the Driven Brands family of automotive brands, is re-launching the Maaco fleet services as Maaco Fleet Solutions. The company has a ten-year track record as a market leader in fleet auto body repair with a national network of over 250 certified locations providing flexible options for fleet managers.

U.S. construction industry executives remain optimistic for 2013

March 8, 2013 —Construction contractors and equipment distributors are optimistic that local non-residential construction activity will improve in 2013, according to a survey by Wells Fargo Equipment Finance, Inc. As part of its 2013 Construction Industry Forecast, Wells Fargo’s Construction Optimism Quotient (OQ) – the survey’s primary benchmark for measuring contractor and equipment distributor sentiment – is at 106 for 2013, marking the second consecutive year with an optimistic reading.

International AutoSource partners with Corporate Fleet Services on financing, leasing program to foreign expats in Canada

March 7, 2013--For decades International AutoSource has been providing expat car financing and leasing to foreign expats in the United States. Through their new partnership with Corporate Fleet Services, International AutoSource is now able to assist foreign expats in Canada with the financing or leasing of a vehicle without a Canadian credit history.

Ritchie Bros. sells $57+ million of equipment in first Edmonton auction of 2013

March 10, 2013--Ritchie Bros. Auctioneers , the world's largest industrial auctioneer, sold more than CA$57 million (US$55+ million) of heavy equipment and trucks during an unreserved public auction at its permanent auction site in Edmonton, Alberta last week, on March 7 & 8, 2013.

PayNet Canada commercial lending index highest since 2008

February 28, 2013--Commercial borrowing by small and medium-sized businesses in Canada hit its highest level since 2008 in the last three months of 2012, and a much smaller percentage of the businesses were behind on their payments, according to a PayNet survey released on Thursday.

Survey of Economic Activity: January new business volume up by 16 percent year-over-year in US

February 26, 2013 --The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity from 25 companies representing a cross section of the $725 billion equipment finance sector, showed their overall new business volume for January was $5.9 billion, up 16 percent from volume of $5.1 billion in the same period in 2012. Volume was down 49 percent from December, following the typical end-of-quarter, end-of-year spike in new business activity.

GE Capital Canada provides new C$50MM facility to Petrowest

February 21, 2013--Petrowest Corporation announced it has entered into a new three-year, Canadian $50 million syndicated credit facility with GE Capital Canada. The new facility is comprised of two sub-facilities: a $45 million, six-year, term facility which has been fully drawn and a $5 million capital expenditures facility which is available for one year.

Element Financial achieved breakout results in 2012

February 17, 2013--Element Financial Corporation reported that record origination levels of $689.3 million contributed to revenue of $57.9 million, operating income of $14.9 million and operating income per share of $0.14 on an after-tax basis for the twelve month period ended December 31, 2012.

Wells Fargo Business Credit provides new facility to hmv Canada

February 11, 2013 --hmv Canada, a music and entertainment retailer, announced the signing of a new three-year $25 million credit agreement with Wells Fargo Capital Finance that will provide additional working capital support for the daily operations of the business.

Frechette to lead Alta’s new vertical focus on diversified industries, Gerard to head firm’s management consulting practice

January 15, 2013 --The Alta Group, a global equipment leasing and finance consultancy, announced the development of a new vertical industry focus, Diversified Industries, to be headed by Paul W. Frechette, a senior managing director. Alta also appointed Valerie L. Gerard to head its Management Consulting Practice.

Canadian CFOs remain positive on economy, industry, says new GE Capital Survey

November 8, 2012--The sentiment of Canadian chief financial officers (CFOs) of middle-market companies on the state of their own industry and the strength of the national economy remained steady and positive in the third quarter, according to the latest GE Capital Mid-Market CFO Survey. CFOs' view of the world economy was unchanged and remains less optimistic than about the national economy.

Electronic payments stimulate economic growth

February 7, 2013- The growth in the use of electronic payment products, such as credit and debit cards, added US$9.7 billion to the Gross Domestic Product (GDP) of Canada over the past four years, according to a study conducted for Visa by Moody's Analytics, a leading independent provider of economic forecasting.

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