Due to recent covenant violations, their current bank sought to exit the relationship. Celtic Capital was referred in and approved a $3,000,000 accounts receivable line of credit, a $1,500,000 inventory line of credit and an equipment loan of $397,600 to repay the bank in full and provide ongoing working capital.

Cascade Private Capital Fund ("CPEFX" or "the Fund"), an interval fund providing access to private capital, has announced the closing of a senior secured revolving credit facility with JPMorgan Chase Bank, N.A. ("JPMorgan").

White Oak Commercial Finance, LLC (White Oak), an affiliate of White Oak Global Advisors, closed a new $120 million 3-year Senior Secured Credit Facility with Sauder Woodworking, a Midwest-based manufacturer and distributor of ready-to-assemble furniture and custom manufacturing furniture solutions with operations throughout the United States and Canada, acting as Sole Arranger and Bookrunner.

Welltory, the leading all-in-one personalized health and wellness app, is pleased to announce it has closed a $3 million credit line with Braavo Capital. The funding will empower Welltory to invest deeper into its strategic product and market growth to become the leader in the preventative and people-centric care categories.

SVB Financial Group today announced that it has completed the sale of its investment platform business, SVB Capital, to affiliates of Pinegrove Capital Partners ("Pinegrove"), backed by evergreen capital from Brookfield Asset Management ("Brookfield") and Sequoia Heritage.

STEP Energy Services Ltd. (“STEP”) (TSX: STEP) is pleased to announce an update on its credit agreement. STEP has entered into a Fourth Amended and Restated Credit Agreement (the “Credit Agreement”) with a syndicate of Canadian banks which amends and extends its prior credit agreement.

Mabrey Bank announced the hire of Bobby McAlpine as a Commercial Lending Officer as an addition to its growing commercial lending team. Based out of East Central Oklahoma, McAlpine will be primarily focused on agricultural and recreational land loans throughout the region.

Beyond Air, Inc. (NASDAQ: XAIR) (“Beyond Air” or the “Company”), a commercial stage medical device and biopharmaceutical company focused on harnessing the power of endogenous and exogenous nitric oxide (NO) to improve the lives of patients, today announced that it has terminated the loan and security agreements with Avenue Capital and entered into an $11.5 million loan agreement with an insider-led investor group.

Cascadia Capital is pleased to announce that Thomas Mills has joined the firm as a Managing Director in its Capital Markets Advisory Group. Mr. Mills brings more than 20 years of experience in debt capital markets, raising capital for clients in a wide variety of industries and transactions, including recapitalizations, growth financings, and management buyouts.

Womble Bond Dickinson announced that Derek W. Edwards has joined the firm’s Nashville office as a partner in the Business Litigation Practice Group. Edwards has over 20 years of experience as a trusted advisor to retail banks and equity-backed companies in the financial services and payments industries. His practice spans financial technology, merchant services, and payment processing.

Vance Street Capital ("Vance Street"), a Los Angeles based private equity firm, today announced it has partnered with Pro-Vision (the "Company") to support the business and management team during this next chapter of its growth story. Pro-Vision is a North American provider of video monitoring solutions for the commercial, K-12 transit, and public safety end markets.

CIBC Innovation Banking announced today that it has provided $15 million in credit facilities to support Rubicon Technology Partners’ strategic investment in Toronto-based Nulogy, a leading provider of supply chain collaboration solutions. Nulogy's cloud-based, multi-enterprise platform allows brands to orchestrate their extended supply chain, driving improved service while reducing waste, minimizing cost, and accelerating growth.

Citigroup Inc. (NYSE: C) and Apollo (NYSE: APO) announced that they have entered into an exclusive agreement for a subsidiary of Citi and certain affiliates of Apollo to form a landmark $25 billion private credit, direct lending program initially in North America, with the potential to expand to additional geographies.

Huntington Business Credit closed a $50,000,000 new credit facility with Elements International Group, LLC on August 27, 2024. Proceeds of the facility were used to refinance existing debt and provide ongoing working capital financing.

Gordon Brothers, the global asset experts, has forecasted U.S. retail sales for this upcoming holiday season[1] predicting a modest increase of 1.2% to 3.5% relative to last year amid economic and political uncertainty.

TD Bank, America's Most Convenient Bank®, recently announced Andy Bregenzer and Jill Gateman as Co-Heads of U.S. Commercial Banking. The appointments follow the Spring 2024 announcement of Chris Giamo's retirement from TD Bank after 26 years of service to TD and more than 30 years in banking.

Wolters Kluwer Compliance Solutions’ latest Regulatory Violations Intelligence Index shows notable increases in the total number of violations cited by agencies during the first half of 2024 compared to 2023 second half results in two of three major category it tracks—Consumer Protection and Financial Offenses—while dramatically falling off in the Competition-related offenses category. Collectively, penalty amounts declined significantly.

AlixPartners, the global consulting firm, today announced the findings of its 19th Annual Turnaround and Transformation Survey Asia Report. The survey reveals that over half of respondents expect lending standards to become more restrictive in the year ahead than the previous year.

KeyBank (NYSE: KEY) announced the release of its semi-annual Middle Market Sentiment Report, which surveyed more than 700 business owners and executives of companies with $10 million to $1 billion in annual revenue, to gather their insights on the current economic and company outlook, challenges currently affecting their businesses, and their growth plans for the year ahead.

nFusion announced it provided a $3 million ABL line for a long-established, family-owned cabinetry and millwork company based in New Jersey to help build infrastructure for growth.