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In Brief

IDS appoints leader of global services
December 18, 2014
Industry Confidence Steady In December
December 18, 2014
Parlevel Systems to provide telemetry solutions for vending operators
December 15, 2014

Rouse Equipment Rental Index Continues Rise
December 2, 2014

FSI elects three new directors
November 20, 2014
Industry confidence at six-month high
November 20, 2014
DLL's Stephenson discusses the future of leasing
November 20, 2014

Canadian commercial lending falls
November 19, 2014

Big bank approval rates for small business loans drop
November 12, 2014

More business owners plan capital expenditures November 12, 2014

Domestic economy will gradually improve
November 3, 2014
Whitepaper discusses lease accounting reform
October 21, 2014
Industry confidence steady in October
October 20, 2014
Element to host fleet management overview briefing
October 14, 2014
U.S. small business lending pauses in August
October 10, 2014
Deere Financial names new president, Israel retires
October 8, 2014
Oracle launches lifecycle processing solution for lenders
October 1, 2014
Element receives BBB+ issuer, senior unsecured rating
September 19, 2014
King Commercial rebrands
September 15, 2014

Element Financial director named chairman of Quest
September 12, 2014

Construction equipment market to hit $208 billion by 2020
September 2, 2014

D+H launches lending platform
August 28, 2014
SEC adopts credit rating agency reform rules
August 28, 2014
ACE Aviation updates liquidation process
August 26, 2014

Lebovics, Tsiobanos join Northstar Leasing
August 25, 2014

JetCharters.com cites increase in traffic, improving market conditions
August 22, 2014

Alta Group partners with Capgemini
August 22, 2014
PHH Arval transitions to Element fleet management
August 20, 2014
Stubits now GM at National Leasing
August 20, 2014
Tank cars at risk of being scrapped
August 18, 2014

LeaseTeam announces executive management structure
August 15, 2014

Industry veteran Lisa Rafter joins Odessa Technologies
August 14, 2014

Cervus completes acquisition of Peterbilt
August 12, 2014
Fitch affirms aircraft lessors following peer review
August 12, 2014

Ching joins Alta Group
August 12, 2014

Credit unions tap Facebook to fuel growth in new loans
August 11, 2014

Rouse rental report: OLVs continue rising; FLVs fall in June
August 1, 2014
GE Capital releases commercial aviation industry economic outlook
August 1, 2014
ELFA launches new website
July 31, 2014
Fleet financing volume up
July 29, 2014
China encouraging aircraft lessors to expand abroad
July 29, 2014

U.S. durable goods orders up
July 28, 2014

MB Financial good to go with Cole Taylor acquisition
July 25, 2014
CIT to acquire OneWest Bank
July 23, 2014
Head of Wells Fargo to retire
July 17, 2014
ELFA offers Financial Statement Analysis’ online course
July 15, 2014

IDS solutions win ELFA’s ‘2014 Operations and Technology Award’
July 14, 2014

Element poised to become fastest growing financial in Canada
July 11, 2014
Money in Motion celebrates 25 years
July 10, 2014
Equipment finance advisor launches data blast
July 10, 2014
Wells Fargo said to be ‘at risk’ of ending profit streak
July 9, 2014
Balboa Capital expands
July 2, 2014
Leasing most popular choice among fleet managers
June 25, 2014
Yamaha implements wholesale management system
June 25, 2014

Senior management invests $11.2MM in Element securities
June 23, 2014

Saligram heads Ritchie Bros.
June 17, 2014

Top ten equipment leasing companies named
June 16, 2014

Blanck Joins Key Equipment Finance
June 11, 2014
ELFA names ‘Service in Advocacy Award’ winner
June 11, 2014

Element provides $100MM aircraft financing for CargoJet
June 9, 2014

LeaseTeam partners with Ivory Consulting June 6, 2014

Equipment leasing and finance industry confidence at two-year high
May 20, 2014

Ackroo selected as Fleet Card provider for West Technology Group in St. Lucia
April 22, 2014

Dalmac Energy implementing electronic dispatching, invoicing system
April 21, 2014

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

Two men charged with $100mm ATM sale/leaseback fraud

December 18, 2014 --According to a statement released by the Justice Department, two San Fernando Valley men were charged in a federal fraud case that alleges they ran a 15-year-long Ponzi scheme that collected hundreds of millions from investors who were told their money would be used to purchase profitable automated teller machines.

Element to originate $6.5B in 2015, 75 per cent from U.S.

December 18, 2014--Element Financial announced that it expects to organically originate approximately $6.5 billion of new equipment loans and leases during 2015 across the its four North American market verticals representing an increase of 35 per cent over the $4.8 billion Element estimates it will originate in 2014. Approximately 75 per cent of this new business volume is expected to originate in the U.S.

Equipment investment to grow in 2015

December 15, 2014--Investment in equipment and software is expected to grow six per cent in 2015, driven by a steadily improving economy, according to the ‘Annual 2015 Equipment Leasing & Finance U.S. Economic Outlook’ released by the Equipment Leasing & Finance Foundation. Overall in 2015, the outlook for 12 individual equipment and software verticals tracked in the report is mixed, with some sectors outperforming others.

ETA announces 2015 Board of Directors 

December 8, 2014--The Electronic Transactions Association (ETA), the global trade association representing the payments technology world, announced today the election of six new members to its Board of Directors. ETA also announced its 2015 board officers and named appointments to the ‘Presidential Advisory Council’.

Manufacturing activity expands for 18th consecutive month

December 2, 2014 --Economic activity in the manufacturing sector expanded in November for the 18th consecutive month, and the overall economy grew for the 66th consecutive month, say the nation’s supply executives in the latest ‘Manufacturing ISM Report On Business’.

Small business lending reaches record high

December 2, 2014--The October release of the Thomson Reuters/PayNet ‘Small Business Lending Index’ (SBLI) increased 12 per cent compared to October 2013. The SBLI increased four per cent from 127.1 in September 2014 to 131.8 in October 2014, reflecting signs of strength in the economy. This is the first time the SBLI has exceeded the pre-recession peak, though it did so just barely compared to the previous high of 131.7 in January 2007.

MAPI forecasts 2015 CAPEX growth in equipment sectors

November 25, 2014--Strong growth in jobs plus replacement demand for equipment from businesses will provide a stable base for overall economic growth, says the quarterly economic forecast by the MAPI Foundations, the research affiliate of the Manufacturers Alliance for Productivity and Innovation.

Alternative capital providers fill gap left by big banks

November 25, 2014--In its latest market commentary, investment adviser Old Hill Partners sa ys large banks continue to eschew lower middle-market loans because of heightened regulatory scrutiny and unattractive risk-adjusted spreads as they concentrate on larger, more fertile customers.

Manufacturing shifts into high gear; spurs equipment investment

Nobember 24, 2014--The manufacturing sector in the U.S. has reached the highest rate of growth in more than four years, according to  ‘Shifting Into High Gear’, an industry report released by Brown Gibbons Lang & Company (BGL).  

New business volume up

November 24, 2014--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 $903 billion equipment finance sector, showed overall new business volume for October was $8.3 billion, up nine per cent from new business volume in October 2013.

GASB issues views on lease accounting for state, local governments

November 21, 2014--The Governmental Accounting Standards Board (GASB) has issued for public comment a ‘Preliminary Views, Leases’, which includes proposals to improve the accounting and financial reporting for leases for state and local governments from both a lessee and lessor perspective. 

Hospitals to increase IT investments to meet operational inefficiencies

November 21, 2014--IDC Health Insights presented its 2015 healthcare predictions, based on an ‘IDC FutureScape Report’. The report provided insights and perspectives on long-term industry trends along with new themes that may be on the horizon. 

Specialty vehicle financing trends: Back to the future?

November 21, 2014--In his blog, ‘Specialty Vehicle Financing Trends: Back to the Future?’, Cramer Owen says that recent economic conditions, uncertainty over the proposed changes in lease accounting rules, and Federal tax legislation are resulting in changing demand for financing products in both the public and private sectors for specialty vehicles.

Increasing demand for healthcare equipment finance

November 20, 2014--Finance is playing an increasingly important role in enabling medical equipment acquisition for healthcare organizations around the globe, says research from Siemens’ Financial Services unit (SFS).

Seal Software to provide 'Contract Discovery and Analytics' for Telogis

November 19, 2014--Seal Software, the leading provider of Contract Discovery and Contract Analytics solutions, today announced that Telogis, developer of cloud-based software products and services designed for companies with mobile workers, vehicles and other mobile assets, has selected Seal Contract Discovery and Analytics to locate and consolidate its contracts from across the enterprise to increase visibility and control of contractual relationships with partners and customers.

Outlook stable for leasing, financing companies despite headwinds

November 19, 2014--U.S. financing and leasing companies (fincos) will likely face multiple headwinds in 2015, including increased competition, weaker asset quality, reduced reserve releases, and regulatory challenges that could impact profitability, according to Fitch Ratings. As a result, the sector outlook is negative, as outlined in Fitch's ‘2015 U.S. finco outlook report’.  

Natural gas vehicle market continues to grow despite declining diesel prices

November 12, 2014--With the natural gas powered vehicle market seemingly stalled as diesel fuel prices continue to drop, ACT Research has released the results of its updated research on U.S. Natural Gas transportation fuel trends in the heavy duty truck market. The report ‘NG Reality Check: Moving from Infancy to Adolescence’, published in October 2014, is a comprehensive, forward-looking long-term analysis on the use of natural gas as fuel in U.S. heavy Class 8 truck transportation. 

Economic activity on the rise

November 12, 2014--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 September was $9.4 billion, up 21 per cent from new business volume in September 2013. Month over month, new business volume was up 31 per cent from August. Year-to-date, cumulative new business volume increased eight per cent compared to 2013.

‘Credit Managers’ Index' Rallies

November 12, 2014--The Credit Managers’ Index (CMI) from the National Association of Credit Management (NACM) returned to a respectable status, jumping more than two points from 54.9 to 57.0. The readings are back to highs seen at the start of the year. The index of favorable factors cleared 60 comfortably and now sits at 62.6, which is still off the pace set in July and August, but is trending in the right direction again.

Ritchie Bros. announces management changes and reorganization

November 4, 2014--Ritchie Bros. Auctioneers Incorporated has announced several changes to its reporting structure and senior management team. Having completed an extensive review of company operations and historical performance,  Ravi Saligram, chief executive officer, is now in the process of developing a strategic roadmap for the company.

Gordon Brothers, BlackRock Kelso launch finance company

November 3, 2014.--GBFC will be a majority-owned portfolio company of BlackRock Kelso, with Gordon Brothers Group owning a minority interest. As part of the transaction, GBFC acquired from GB Credit Partners, its asset-based lending business as well as a portfolio of approximately $269 million of loans. GB Credit Partners is an affiliate of Gordon Brothers Group.

ELFA establishes ‘Hall of Fame’

October 27, 2014--The Equipment Leasing and Finance Association (ELFA) has established the ‘Equipment Finance Hall of Fame’ to annually recognize individuals who have made unique, significant, or lasting contributions to the equipment finance industry throughout their careers.

PayNet study highlights optimism for double-digit growth in 2015

October 21, 2014--A new study by PayNet shows that equipment finance lenders can achieve double digit growth through a smarter application process.  Although credit approval rates vary by lender and market segments, PayNet’s recent study addressing small ticket lenders showed an 86 per cent approval rate.

Industry maintains strong performance despite challenges

October 21, 2014--The equipment finance market is projected to reach $903 billion in 2014, according to  the ‘2014 State of the Equipment Finance Industry Report’ released at the 53rd Annual Convention of the Equipment Leasing and Finance Association.

DHL invests in Edmonton facility

October 21--DHL, a logistics company, today announced the opening of a new facility in   Edmonton, AB.  Representing a significant investment of   $2.1 million, this new facility will help DHL Express meet the growing demands of international shipping customers and help to streamline logistics and shipping for energy sector organizations.

Equipment and software investment to grow

October 8, 2014--Investment in equipment and software is expected to grow 5.5 per cent in 2014, according to the Q4 update to the’ 2014 Equipment Leasing & Finance U.S. Economic Outlook’ released by the Equipment Leasing & Finance Foundation.

Varion Capital accelerates service to equipment dealers

October 7, 2014--Varion Capital Corp. revealed a series of strategic enhancements to its dealer programs. The enhancements are designed to streamline service, approvals and funding for small ticket transactions and position the company to finance larger deals.

Wells Fargo expands across U.S., Canada

September 25, 2014--Wells Fargo Capital Finance is expanding their Supply Chain Finance team domestically and internationally. The expanded team will support and target the growing middle-market technology sector, which consists of IT value-added resellers (VARs), distributors, and vendors of technology products and services.

Frontier Leasing comptroller sentenced for fraud, money laundering

September 22, 2014 --David VanWinkle is sentenced to five years and 10 months in federal prison without parole for stealing more than $4.9 million from his employer. The court also ordered that he forfeit to the government $4,911,621, a 2013 Holland tractor, a 2007 Hummer H3, a 2012 John Deere no-till seed drill, and $28,086 that was seized from various bank accounts.

Equipment finance industry confidence up

September 22, 2014--The Equipment Leasing & Finance Foundation (the Foundation) has released the September 2014 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI). 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.  

Natural gas powered truck sales to rise

September 19, 2014--ACT Research has released the results of its updated research on U.S. natural gas transportation fuel trends in the heavy duty truck market. Additionally, the report details the impact of today’s trucker-favored market, in which focus is placed more on acquiring capacity than on lowest total cost.

CDK Global to begin financing program with GE Capital

September 17, 2014--CDK Global, LLC., a subsidiary of ADP (R) and a leading global technology solutions provider dedicated to helping automotive retailers and manufacturers drive measurable results, announced today that it will offer a new, co-branded financing program for U.S. and Canada-based dealers with GE Capital's Equipment Finance business.

EDC provides financing to 5N Plus

September 17, 2014--Export Development Canada (EDC) has provided US$17.5 million in financing for Montreal-based 5N Plus Inc. (5N), a fast-growing global producer of specialty metal and chemical products used in advanced pharmaceutical, electronic, and industrial applications.

CFLA names Moe Danis Member of the Year

September 15, 2014--At its 2014 Annual Conference, CFLA Chairman Eugene Basolini announced the “CFLA Member of the Year 2013-2014”. This award recognizes individuals, volunteers from members, who work quietly for the Association, committed to its goals.

PayNet's latest report suggests Canadian commercial lending cooled during second quarter

September 15, 2014--The lastest report from PayNet reveals that many Canadian businesses may be stalling their borrowing during the low risk expansion phase of their business activities as they slow down investment and look to control their financial risks.

ABL industry veterans launch Metis Commercial Finance

September 12, 2014--Metis Commercial Finance has announced its formation. Metis offers smaller borrowers a unique palette of financing structures including asset-based revolving lines of credit, term loans based on cash flow, and other assets, and unitranche debt with credit facilities ranging from $1 million to $20 million.

Ackroo forms partnership with automotive rewards competitor to expand their solution offering and reach

September 12, 2014--Ackroo Inc., a loyalty and rewards technology and services provider, has signed a partnership agreement with Dealer Rewards Inc. Dealer Rewards is a leading provider of integrated loyalty and rewards solutions for the automotive sector with over 250 locations across North America. Through this bi-lateral strategic partnership Ackroo will market Dealer Rewards' integrated loyalty and rewards solution to their current and prospective automotive dealer customers as a compliment to Ackroo's current stand-alone DealerCard solution.

Compensation in the equipment finance industry mirrors business performance

September 3, 2014 – Compensation in the equipment finance industry increased modestly in 2013, according to the ‘ 2014 Equipment Leasing and Finance Compensation Survey’ from the Equipment Leasing and Finance Association (ELFA) and McLagan. For the fourth consecutive year, a year-over-year increase in new business volume contributed to increases in compensation, albeit at a slower rate than previous years.

European lessors bullish for second half of 2014

August 26, 2014 – Leaseurope, the representative body of the European leasing and automotive rental industry, together with Invigors EMEA, the specialist international equipment leasing and asset finance consultancy, have just published the results of the biannual Leaseurope/Invigors 'European Business Confidence Survey'.

U.S. new business volume up

August 25, 2014 – 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 overall new business volume for July was $7.8 billion, up 8 per cent from new business volume in July 2013.

Bestpass continues to expand

August 22, 2014 – Bestpass™, Inc., providers of bulk purchasing and streamlined toll management services to commercial fleets, says that the Niagara Falls Bridge Commission (NFBC) managed bridges, including the Rainbow, Whirlpool, and Lewiston-Queenston international bridges, are now part of the Bestpass toll service. The expansion of the Bestpass toll network is the result of the recent implementation of the E-ZPass tolling program by the NFBC.

ELFA mourns the passing of industry icon

August 22, 2014 – The Equipment Leasing and Finance Association is mourning the passing of Michael J. Fleming, who served as the association’s president for 27 years. Mike passed away August 19 after a long but valiant fight with cancer.

Industry confidence ‘easing’ from previous two months

August 22, 2014 – The Equipment Leasing & Finance Foundation (ELFF) August 2014 ‘Monthly Confidence Index’ for the Equipment Finance Industry (MCI-EFI), incdicates that overall confidence in the equipment finance market is 58.9, easing from the previous two months’ indexes of 61.4.

DriveSmart app grades users' driving skills

August 13, 2014 – KANETIX.ca , Canada's  premier car insurance comparison company, is challenging drivers to test their skills through a new mobile app that scores their driving, letting them know if they could qualify for auto insurance discounts.

Fleet clean diesel initiative reaches new milestone

August 12, 2014 – Fleet Advantage, an innovator in truck fleet business analytics, equipment financing, and lifecycle management, reports its ‘Clean Diesel Initiative’ that began in 2011 reached a new milestone. With multiple new clients, the company’s equipment orders for Class 8 tractors for the six-month period ending June 2014 exceeded 1,500 tractors, marking significant growth.

Financial situation improves for small businesses

August 7, 2014 – More small business owners say their company’s current financial situation is good, yet their outlook for the next year has not changed significantly, says the ‘Well Fargo/Gallup Small Business Index’.

Credit Managers’ Index reflects improved confidence

August 1, 2014 – The ‘Credit Managers’ Index’ (CMI) from the National Association of Credit Management (NACM) improved to 56.8 from 56.1 in July. The readings for the favourable and unfavourable factor indices improved, from 62.4 to 63.7 for the favorable factor index, marking the highest point in over four years, and from 52.0 to 52.2 for the unfavorable factor index. The latter being below marks set earlier in the year, but is at least trending in the preferred direction.

Katsof launches ABL firm

July 31, 2014 – International business leader Irwin Katsof has launched Katsof Financial, an outgrowth of Global Capital Associates, founded by Irwin Katsof in 2005 and Katsof Consulting, founded in 2012.

ELFA: New business volume up

July 24, 2014 – 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 June was $9 billion, up five per cent from new business volume in June 2013.

Equipment finance industry confidence remains steady in July

July 23, 2014 – The Equipment Leasing & Finance Foundation has released the July 2014 ‘Monthly Confidence Index for the Equipment Finance Industry’ (MCI-EFI).

CIT sees rise in finance, leasing assets

July 23, 2014 – CIT Group Inc. reported net income of $247 million for the second quarter of 2014, compared to net income of $184 million for the year-ago quarter.

Current size of leasing industry understated

July 14, 2014 – The first phase of the ‘Redefining the Leasing Industry’ study from the Leasing Foundation casts doubt on current estimates of the size of the industry.

Signature launches franchise finance, commercial marine units

July 11, 2014 – Signature Financial’s franchise business will provide financing to franchise operators across a variety of national and regional restaurant concepts and chains, such as those engaged in fast-casual and family-oriented restaurant businesses.

BB&T EF, Wells Fargo EF to receive ELFA award

July 10, 2014 – BB&T Equipment Finance Corporation and Wells Fargo Equipment Finance, Inc. are the recipients of the Equipment Leasing and Finance Association (ELFA) ‘2014 Operations and Technology Excellence Award’.

Big bank approval rates reach post-recession high in June

July 9, 2014 – Big banks are now approving one-in-five small business loan applications, a post-recession high, says the ‘Biz2Credit Small Business Lending Index’. Meanwhile, small banks, though down by two-tenths of a per cent, are granting more than half of requests they receive from entrepreneurs.

Investment in equipment, software to grow

July 2, 2014 – Investment in equipment and software is expected to grow 2.6 per cent in 2014, says the Q3 update to the ‘2014 Equipment Leasing & Finance U.S. Economic Outlook’ released by the Equipment Leasing & Finance Foundation (ELFF).

Leasing company CEO charged with bank fraud

June 27, 2014 – The CEO of Lease Group Resources, Inc. was arrested on June 24th for allegedly orchestrating a large scale check-kiting scheme that caused $8.8 million in losses to three banks in New Jersey, says U.S. Attorney Paul J. Fishman.

SEC charges three regions execs with fraud

June 27, 2014 – The Securities and Exchange Commission announced fraud charges against three former senior managers of Regions Bank for intentionally misclassifying loans that should have been recorded as impaired for accounting purposes. As a result, the bank’s publicly-traded holding company overstated its income and earnings per share in its financial reporting.

Bombardier, Railpool sign $340MM European rail deal

June 25, 2014 – Bombardier Transportation and leasing company Railpool have signed a framework agreement for the delivery of 65 BOMBARDIER TRAXX locomotives, with a first call-off of 35 locomotives and an option of up to 30 additional locomotives. The total potential contract value is up to 250 million euro ($340 million). The value of the call-off based on the list price is approximately 135 million euro ($184 million).

May new business volume down eight per cent

June 25, 2014 – 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 May was $6.9 billion, down eight per cent from new business volume in May 2013. Month-over-month, new business volume was down 14 per cent from April. Year to date, cumulative new business volume increased three per cent compared to 2013.

ELFF: Equipment finance industry confidence down

June 23, 2014 – The Equipment Leasing & Finance Foundation (ELFF) June 2014 ‘Monthly Confidence Index’ for the Equipment Finance Industry (MCI-EFI) reports confidence in the equipment finance market is 61.4, an easing from three consecutive months of two-year high levels, which topped at 65.4.

ELFA software guide identifies tech trends for equipment finance companies

June 23, 2014 – As the U.S. economy continues to improve and new technology solutions enter the marketplace, equipment finance companies are modernizing their IT systems and using technology in new ways to solve problems and create opportunity, says t he ‘ 2014 Software Guide ’ by the Equipment Leasing and Finance Association.

Former CIT executive launches offers leasing, other products

June 17, 2014 – Patrick McMullan, commercial lending expert, has launched ALCS Capital to provide business owners with alternative sources for the capital they need to grow or run their businesses. The company leverages his 25 years of industry experience and keen understanding of the financial lending market to provide alternatives to traditional bank financing, through financing solutions that include private equity, consumer based financing for businesses, creative leasing options, and other long term value services.

PNC Bank Canada leads Aveda credit ABL increase

June 13, 2014 – Aveda Transportation and Energy Services has received commitment letters from a syndicate of lenders led by PNC Bank Canada Branch, including Royal Bank of Canada, pursuant to which the availability under its current asset-based lending facility will be increased from $75 million to between $115 million to $125 million 014. The commitments are subject to customary conditions related to completion of appropriate legal documentation and due diligence. The company will pay customary fees on closing.

Equipment investment to grow

June 11, 2014 – Manufacturing production continues to outpace overall economic growth and will be led more by investment than by consumer-driven advances over the next 18 months, says the ‘Manufacturers Alliance for Productivity and Innovation (MAPI) Quarterly Economic Forecast’. It predicts that inflation-adjusted gross domestic product will expand 2.5 per cent in 2014 and 3.2 per cent in 2015. The former is a decrease from 2.8 per cent and the latter equal to the 3.2 per cent from MAPI’s March report.

Ritchie Bros. to conduct massive unreserved equipment auction in Ontario, Canada

June 10, 2014 – Ritchie Bros. Auctioneers, an industrial auctioneer, will be conducting a massive, multi-million dollar, unreserved public auction in Thunder Bay, ON, on June 17. More than 450 heavy equipment items and trucks will be sold in the auction, including excavators, articulated dump trucks, crawler tractors, truck tractors, wheel loaders, as well as trailers, attachments, and more. This auction is also being filmed for an episode of the television series ‘Selling Big’Bids can be made live in-person at the auction site, online in real-time at www.rbauction.com, and by proxy.

Lease accounting changes to negatively impact CRE

June 6, 2014  – With the proposed changes to FASB/IASB standards for lease accounting, many companies will report net income results which will be worse under the new rules than under the current rules, says a report by commercial real estate tenant representation firm, Cresa, and the Financial Executives Research Foundation (FERF), the research affiliate of Financial Executives International.

U.S. small business lending picking up momentum

June 3, 2014 – Small business investment is gatherine steam says the ‘Thomson Reuters/PayNet Small Business Lending Index’. The index registered 126.5 in April, an 18 per cent increase year-over-year. It increased 10 per cent compared to March, which had a minor revision from 115 to 115.3. The three-month trend line has risen to 14 per cent and indicates the economy is likelier to expand in the second quarter after a troubled first quarter. “When small businesses invest and maintain strong finances, the national economy is likely to grow,” says William Phelan, president of PayNet, Inc. ”This latest report of small business trends bodes well for more economic expansion of U.S. GDP in 2014.”

Chilliwack site to conduct its largest auction ever with 1,700+ items

May 21, 2014 --Ritchie Bros. Auctioneers will sell more than 1,700 equipment items and trucks at an unreserved public auction in Chilliwack, B.C. on May 28, 2014. Highlights in the auction include a large selection of late model crushing equipment, as well as construction, transportation, forestry, and agriculture equipment. Every item in the auction will be sold without minimum bids or reserve prices. Bids in the auction can be made live in person at the auction site, online in real time at www.rbauction.com and by proxy.

Equipment leasing and finance industry confidence at two-year high

May 20, 2014 – The Equipment Leasing & Finance Foundation (ELFF) ‘Monthly Confidence Index for the Equipment Finance Industry’ (MCI-EFI) is 65.4, relatively unchanged from 65.1 in April, peaking at the highest index level in two years for the third consecutive month. When asked to assess their business conditions over the next four months, 31.4 per cent of executives said they believe business conditions will improve over the next four months, down from 37 per cent in April; 68.6 per cent of respondents believe business conditions will remain the same over the next four months, up from 60 per cent in April. No one believes business conditions will worsen, down from 2.9 per cent the previous month. As well, 34.3 per cent of survey respondents believe demand for leases and loans to fund capital expenditures (capex) will increase over the next four months, down from 37 per cent in April; 65.7 per cent believe demand will “remain the same” during the same four-month time period, up from 60 per cent the previous month. No one believes demand will decline, down from 2.9 per cent who believed so in April.

May 3, 2013--April data pointed to another positive month for the Canadian manufacturing sector, with the latest survey pointing to higher levels of output, new business and employment, 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.

GE Capital Canada expands vendor finance business With launch of Life Fitness equipment program

April 30, 2014--GE Capital Canada, a long-time provider of wholesale and retail financing for commercial trucking, construction and office imaging equipment manufacturers, announced an agreement with Life Fitness International Sales, Inc. to offer financing to health clubs and gyms across the country that want to buy Life Fitness equipment. The relationship with Life Fitness marks GE Capital Canada's first vendor program in the fitness equipment industry.

Historic Edmonton auction breaks multiple records, including online sales, number of registered bidders, buyers and sellers

April 28, 2014--Ritchie Bros. Auctioneers, the world's largest industrial auctioneer, sold more than CA$143 million (US$129+ million) of trucks and heavy equipment in Edmonton, AB on April 23 - 25, 2014, making it the largest Canadian auction in Company history.

Vicwest Inc. enhances flexibility with $120M revolving asset-based lending facility

April 24, 2014--Vicwest Inc. has negotiated a five year, $120 million revolving senior secured asset-based lending facility including a $25 million accordion feature, with a syndicate of lenders, co-led by Canadian Imperial Bank of Commerce and National Bank of Canada, that includes Royal Bank of Canada and the Bank of Nova Scotia. CIBC will serve as the administrative agent.

Shell Canada Products, EFS, launch new commercial fleet card program

April 23, 2013--Shell Canada Products has launched a new joint commericial fleet card program in Canada, in partnership with Electronic Funds Source LLC (EFS), a leader in innovative and customized payment solutions. The Shell Fleet NavigatorTM/mc commercial card, leveraging the EFS payments platform, offers broader acceptance for Canadian fleets with more than 1,200 Shell branded retail locations across Canada, combined with over 800,000 Canadian MasterCard acceptance locations, all on a single card powered by EFS' payments platform.

IT financing industry must adapt to growth in cloud computing, says GE Capital

April 23, 2014--Companies that design information technology (IT) solutions for commercial customers are facing significant changes to their business model as they adapt to the growing interest in cloud computing, according to GE Capital, Commercial Distribution Finance (CDF), a major provider of financing to IT solution providers.

Veridian celebrates Earth Day as one Canada's Greenest Employers for fifth consecutive year

April 22, 2104--Veridian Corporation, which manages a large "green fleet" initiative, has been named one of Canada's Greenest Employers for a fifth consecutive year. This special designation recognizes Veridian as a workplace that leads the nation in creating a culture of environmental awareness, has developed earth-friendly initiatives and is attracting people to the company because of its environmental leadership.

Coast Capital Group of Companies, Travelers Financial Corporation, combine equipment finance businesses

April 22, 2014--Coast Capital Equipment Finance Ltd., a subsidiary of Coast Capital Savings, and Travelers Financial Corporation (TFC) announced today that the assets of the prime equipment and vehicle finance business of TFC will become part of the Coast Capital Group of Companies.

Ontario Teachers' Pension Plan announces GE Aviation strategic partnership

April 21, 2014--The Ontario Teachers' Pension Plan (Teachers') has entered into a new strategic partnership with GE Aviation to support the development of advanced technologies for the GE9X engine.

Aureus Mining appoints MonuRent to provide, maintain fleet for owner mining operation at the New Liberty Gold Project in Liberia

April 17, 2014--Aureus Mining Inc. will engage in owner mining at its New Liberty Gold Project, located within the Southern Block of the Company's 100% owned Bea Mountain Mining licence in Liberia. MonuRent (Liberia) Limited has been awarded a contract to provide and fully maintain a new mining fleet in support of the owner mining operations over the life of mine at New Liberty.

New alliance will enable Seika’s customers to acquire advanced machinery for manufacturing

April 12, 2014--Marlin Business Services Corp., Union Bank, N.A., and Seika Machinery, Inc (SMI), have formed a strategic alliance that will provide financing solutions for SMI’s advanced machinery customers.

U.S. equipment leasing, finance industry confidence reaches new two-year high

April 10, 2014--The Equipment Leasing & Finance Foundation (the Foundation) releases the March 2014 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 65.1, the highest index in two years and an increase from the February index of 63.3. The first quarter MCI levels are the three highest since April 2011.

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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