Company News

ENGS Commercial Finance Co. Expands Its Current Office Locations and Welcomes New Team Members To Its Factoring Subsidiary

ENGS Commercial Finance Co. ( ENGS ), an industry leading commercial finance company, has announced the expansion of two office locations as well as additional team members to the company s Factoring subsidiary, ENGS Commercial Capital ( ECC ). Joining the company are Bronwyn Hobson, Vice President, Risk Management; Patrick Eakins, Vice President, Business Development […]

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ENGS Commercial Finance Co. Launches Electronic Signature Documentation

ENGS Commercial Finance Co., an industry leading commercial finance company, announced today that it has launched a secure electronic signature ( E-Signature ) documentation solution for its dealers and customers. This solution, among the first of its type in the commercial equipment finance space, provides the company s clients with a convenient, fast and efficient […]

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ENGS Commercial Finance Closes $100MM Securitization Warehouse Facility with Bank of Montreal

Lisle, IL Engs Commercial Finance ( ENGS ) announced today that it has closed a $100MM securitization warehouse facility with the Bank of Montreal ( BMO ) as Lender and BMO Capital Markets Corp. as Agent. This facility adds incremental liquidity to ENGS existing $455 million credit facility, and further supports the growth initiatives at […]

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ENGS Commercial Finance Closes $75MM Commitment From PNC Bank

Lisle, IL Engs Commercial Finance Co. ( ENGS ) announced today that it has added PNC Bank ( PNC ) and its $75MM commitment to its $455MM ABL credit facility. PNC will assume the roles of Syndication Agent and Joint Lead Arranger on the transaction. The ABL facility is agented by the Bank of Montreal. […]

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Christopher Kelly Joins ENGS Commercial Finance Co. To Lead Its New Construction Division

ENGS Commercial Finance Co., an industry leading equipment commercial finance company, announced today that Christopher Kelly has joined the company as the Director of Sales of its newly launched Construction Division. In this role, Mr. Kelly will be responsible to develop ENGS into a nationally recognized market leader in Construction equipment finance. Mr. Kelly brings […]

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Tom Miller Joins ENGS Commercial Finance Co. As Director of Sales For Its Industrial Division

ENGS Commercial Finance Co., an industry leading commercial finance company, announced today that Tom Miller has joined the Industrial Equipment team as Director of Sales. In this role, Mr. Miller will be responsible for the leadership of the Industrial Sales team, growing the sales team, and developing new opportunities for the company. Mr. Miller brings […]

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ENGS Commercial Finance Welcomes New Team Members To Its Factoring Division

ENGS Commercial Finance Co., an industry leading commercial finance company, announced today the addition of new team members to the company s Factoring Division, ENGS Commercial Capital ( ECC ). Joining the company are Nicole Montrone, Vice President, Sales; Leslye Campos, Vice President, Operations; Azurdee Ramasar, Assistant Vice President, Portfolio Manager; Richard Nevin, Business Development […]

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ENGS Commercial Finance Launches New Factoring Division – ENGS Commercial Capital

For 65 years, ENGS Commercial Finance Co. has been a constant in the transportation industry helping our customers like you expand their businesses – through all the peaks and valleys of our wonderful industry. Our commitment to you and the transportation market continues today We understand your need for a reliable cash flow solution to […]

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ENGS Commercial Finance Co. Closes $198.6MM Equipment Securitization

Engs Commercial Finance Co. (“Engs”) (https://www.engsfinance.com) closed a $198.6 million equipment securitization on November 4, 2016 through Engs Commercial Finance Trust 2016-1. This is Engs’ second transaction since 2015, collateralized by a segregated pool of commercial loan contracts primarily financing commercial trucks and trailers. The securitization included classes of notes rated R- 1(high) (sf) by DBRS, the […]

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ENGS COMMERCIAL FINANCE CO. ACQUIRES CONNEXT FINANCIAL, LTD.

[vc_row][vc_column width=”2/3″][vc_column_text]Chicago, IL, October 3, 2016 – Engs Commercial Finance Co., one of the nation’s oldest and largest independent commercial finance companies, and Connext Financial, Ltd., a leading lender in Industrial Equipment finance, jointly announced today that they have entered into definitive agreement under which Engs Commercial Finance Co. acquired all the outstanding shares of […]

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Increase in Equipment Finance Consolidation After Major Player Sell-Off

Market conditions are ripe for new mergers and acquisitions in the equipment finance industry, as a slowdown in new equipment sales and the sell-off of significant assets by industry giant GE Capital Corp.  A substantial portion of GE’s assets have already been acquired by BMO Financial Group and Wells Fargo & Co., however such a […]

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Industry Leaders See 2015 “On Target”

Equipment Finance Advisor brings together a panel of four industry leaders to share their impressions as to how the industry is faring thus far. In the following roundtable discussion, Elaine Temple at BancorpSouth Equipment Finance, Craig Weinewuth at Engs Commercial Finance, Dave Drury at MB Equipment Finance and Phil Carlson at Nations Equipment Finance share […]

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ACT Research: March Gain in Trailer Orders Brings Epic Order Season to a Close

COLUMBUS, IN – Trailer net orders in March, at 23,190 units, rose 12% over February, according to the most recent State of the Industry: U.S. Trailers published by ACT Research Co. (ACT). “While large fleets made order commitments in the last four months of 2014, small and medium fleets, along with dealers, finally joined the […]

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ACT Research: Trailer Industry Order Volumes Moderate in January

COLUMBUS, IN – Trailer net orders in January, at 19,853, were down nearly 32% from December’s very strong order volume, but rose 18% year over year. These results were published in the most recent State of the Industry: U.S. Trailers published by ACT Research Co. (ACT). “Total trailer backlog is at its highest level in […]

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ACT Research: Class 8 Used Truck Sales Pull Back in January

COLUMBUS, IN – Total reported volumes of used Class 8 trucks fell to to 2,239 units in January, a decline of 12% month over month and 3% year over year, according to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research. “The pull back in volumes […]

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ACT Research: January CV Demand Continues to Show Strength

COLUMBUS, IN – Class 8 net orders were 35,226 units in January and Classes 5-7 posted 18,712 net orders. These results were published in the latest State of the Industry report, recently released by ACT Research Co. (ACT). The report covers Classes 5 through 8 vehicles for the North American market. Said Kenny Vieth, ACT’s […]

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ACT Research: Classes 5-8 Demand Remains Elevated in January

COLUMBUS, IN – Even though January’s orders failed to match December’s near-record order intake, demand for new Classes 5-8 vehicles in the NA market remained elevated during the month. For the month, preliminary data indicate that 53,200 NA Classes 5-8 vehicle net orders were booked (±5%). That volume represents a decline of 21% from December, […]

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ACT Research: Forecasting Accuracy Top-Notch

COLUMBUS, IN – ACT Research, the leading publisher of new and used commercial vehicle (CV) industry data, market analysis and forecasting services for the North American market, as well as the U.S. tractor-trailer market and the China CV market, has earned recognition for its forecasting abilities. In January 2015, the Wall Street Journal invited ACT […]

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ACT Research: Trailer Industry December Orders 2nd Highest in Industry History

COLUMBUS, IN – Nearly 44,000 net orders were posted in December, the second strongest month on record for the trailer industry, according to the most recent State of the Industry: U.S. Trailers published by ACT Research Co. (ACT). For total year 2014, net orders were 359,000, up nearly 55% over 2013. “The industry orderboard has […]

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ACT Research: November Class 8 Demand Strong; MD Demand Pulls Back

COLUMBUS, IN – External data indicated continued support for strength in heavy commercial vehicle demand, and Class 8 orders did not disappoint in November, at 40,925 units – the fifth best order month since ACT Research started collecting industry data in the early 1980s. These results were published in the latest State of the Industry […]

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