PowerLease launches financing platform aimed at retaining owner-operators

PowerLease has launched a new equipment financing platform designed to help fleets retain experienced owner-operators and manage truck replacement cycles without adding balance-sheet risk. The company’s new PowerLease 3.0 program…

Johal brothers secure financing to continue operating Pride Group Logistics

Pride Group founders Sam and Jas Johal have secured financing to continue operating Pride Group Logistics, the trucking operations of Pride Group Entities, which has been under Companies’ Creditors Arrangement…

Manac plans plant, network expansions after securing $170M financing

Manac will expand its largest manufacturing plant and develop new sales and service centers in Quebec and elsewhere in Canada, after receiving a $170-million financing. The Canadian trailer maker’s largest…

Money Matters: Protecting your financing options in a down market

Sharply rising interest rates coupled with a stubborn freight recession and ever-increasing equipment-prices are creating a challenging market for fleets and their financiers, alike. “I’d say the market is probably…

Pride Group files for bankruptcy protection to restructure amid lawsuit

Pride Group Holdings has sought creditor protection under the Companies’ Creditors Arrangement Act (CCAA), after lender Mitsubishi HC Capital America filed a claim this week seeking damages of approximately US$100…

When financing equipment, knowing your business has never been more important

In a previous career, Jeff Horler worked in the funeral management business. Little did he know at the time how applicable the skills required in that line of work –…

Lion Electric creates new financing division

Lion Electric has created a new financing division, which will be led by William Blanchard. The LionCapital Solutions division will offer customers flexible financing of medium- and heavy-duty electric vehicles.

Mack introduces Vehicle-as-a-Service financing plan for LR Electric

Customers buying a Mack LR Electric can now finance it through a newly launched Vehicle-as-a-Service (VaaS) program. Mack says the program will help customers better manage the expenses involved with…

Spectra emerges from financial restructuring

Spectra Premium Industries, an aftermarket parts supplier supporting sustainable mobility, says it has reached a deal with Turnspire Capital Partners to emerge from financial restructuring. The company says it will…

Daimler deferring initial payments on construction trucks

PORTLAND, Ore. – Daimler Truck Financial (DTF) is deferring first payments on new Western Star and Freightliner construction trucks for up to 120 days. The deal is available in both…

Laurentian Bank buys equipment finance company CIT Canada

MONTREAL, Que. — CIT Group has announced the sale of its Canadian equipment finance and corporate finance businesses to Laurentian Bank of Canada. The acquisition will affect about 140 employees,…

CIT Group teams with Ryder to help Canadian customers finance pre-owned vehicles

TORONTO, Ont. — Ryder System has partnered with CIT Group to provide customers with financing on pre-owned vehicles. The company has brought a preferred lender agreement that already existed in…

Pricier trucks won’t hurt leasing and financing markets: Frost & Sullivan

MOUNTAIN VIEW, Calif. — The rising costs of new trucks will not affect the viability of the North American Class 8 truck leasing and financing market, according to new research…