Yeah, this won’t help
Posted on November 2, 2009 at 7:55 am
The somewhat expected bankruptcy filing of CIT Group looks set to further reduce credit options for small business.
CIT’s factoring business, worth about $42 billion in 2008, is estimated to be at least five times the size of its closest competitor, Wells Fargo & Co, followed by other smaller companies such as GMAC Inc and Rosenthal & Rosenthal. It is not clear if these rivals have enough capacity to take on all of CIT’s existing customers.
SEE ALSO: The company’s official restructuring site.
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Fifth Third launches private-equity lending unit
Posted on October 28, 2009 at 9:51 amFifth Third, the fifth-largest bank by Middle Tennessee deposits, has launched a division to lend to companies sponsored by private-equity firms.
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Liquid? Yes. In demand? No.
Posted on October 20, 2009 at 9:38 amCat Financial’s third-quarter results show little sign that global demand for construction equipment is returning. New financings came in at $1.8 billion, down 59 percent from a year ago. Still, the bigger picture at the mothership is looking better and the company’s shares (Ticker: CAT) are up nicely.
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Cat Financial’s window to the world
Posted on April 21, 2009 at 12:23 pm…shows very little blue sky. The Nashville-based equipment financing unit of Caterpillar saw its past dues rise above 5 percent in the first quarter, with Europe and Latin America particularly strong contributors. New financings were less than half those of a year ago and profits fell almost 60 percent.
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Cat Financial building lands green honor
Posted on April 1, 2009 at 9:31 amThe West End Avenue tower is the first private commercial building in the state to earn the LEED Gold rating, the second-highest in the pantheon of the U.S. Green Building Council.
Among the highlights of the Cat Financial Center’s green features are:
* Restructured building operation and maintenance practices to be sustainable best practices consistent with the LEED process
* Reduced consumption of electricity by 6%, water by 22% and reduced solid waste by 49%
* Installed low Mercury level fluorescent lights
* Initiated a recycling and composting program
* Formed a Sustainability Committee with employee representatives from various departments to sustain progress
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Local financing firm on the move
Posted on March 19, 2009 at 10:16 pmTransportation companies looking to finance their receivables are finding their way to Bibby Transportation Finance, a Nashville-based unit of Britain’s Bibby Line Group.
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