All articles by Jason T
Jason T
Romania’s Impuls Leasing sees new finance fall 60%
Romanian lessor Impuls Leasing financed goods worth 50 million in the first half of 2009, it reported, down 57 percent year-on-year. Razvan Diaconescu, the companys general manager, said that the equipment market was hardest hit, falling by over 90 percent; followed by the HGV market, which fell 80 percent; and the automobile market, which fell 65-70 percent
NetSol develops Beijing operations to meet captive finance demand
The leasing software provider hopes that its expanded team will support the growth of the captive finance and automotive industries in China. Based on rising demand within the Chinese market for NetSol Financial Suite, and following a series of local contract wins, NetSol will hire 20 local enterprise systems engineers, sales and support staff this year.
Cat Financial: 60% decrease in new retail financing in Q2
Cat Financial has reported second quarter revenues of $700 million (492 million), a 10 percent decrease year-on-year The captive also reported $1.8 billion in new retail financing down by 60 percent, some $2.8 billion, year-on-year This was largely attributed to a downturn in new business in Cat Financials North America, Europe and Asia operating segments.
CIT rejects $2bn loan from GE Capital, loses Microsoft vendor finance deal
Microsoft has terminated its vendor-financing deal with CIT Group, Stacie Sloane, director of marketing for Microsofts worldwide licensing and pricing group, confirmed CIT, which secured emergency financing from private investors earlier this week, has been desperately trying not to enter bankruptcy protection in the United States The lessor found itself needing rescue financing after being turned down for a second US government bailout earlier this month.
German KfW Bank to offer loans to leasing companies
German state-owned bank KfW plans on offering short-term loans to German leasing companies, according to recent media reports. Handelsblatt, the German daily newspaper, reported this week that KfW aims to grant credit lines to leasing firms which are not part of banks or carmakers, and which have been excluded from receiving state funding thus far.
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Lease software provider Cassiopae teams up with Capgemini
The Finance Services Global Business Unit of Capgemini, an international consultancy and outsourcing service company, has worked closely with Cassiopae since 2007, working on the implementation of Cassiopaes loan and leasing software
Syscap secures £50m credit line for professional services firms
Independent IT finance provider Syscap has announced that it has secured new lines of funding worth up to £50 million (58 million), which will be allocated to professional services firms, such as lawyers and accountants. The new funding lines will come as a big relief for professional services firms who must pay their semi-annual tax payment at the end of July, Syscap said, adding that it had been approached by increasingly larger firms in the last six months. This is the first piece of good news on the funding of professional services firms since the credit markets froze in the wake of the collapse of Lehman Brothers in September, said Mark Gidge, chief sales officer at Syscap.
Telco specialist Nimans launches dealer leasing service
Leasing can help a dealer remove the biggest obstacles to a sale a customer not having cash to buy equipment outright or having the credit in place, said Lee Williams, Nimans network services and leasing director.
Wyse Leasing and ShoreTel launch ShoreTel Financial Services in the UK
Wyse Leasing has announced a partnership with IP phone maker ShoreTel to launch ShoreTel Financial Services (STFS) in the UK STFS aims to help ShoreTels channel partners increase their sales by offering interest-free finance plans over eight or 12 quarters Channel partners will also be able to offer payment holidays, where customers could install a new system and only start payments three months later.
White Clarke opens Vienna office, plans further European expansion
Software specialist White Clarke Group (WCG) has announced the official opening of its new Austrian operational base in Vienna, which will be led by Austrian leasing consultant Harald Haider. With over 30 years experience in the Austrian leasing market, Haider will provide initial support and consulting services to WCGs Austrian client base.