Confidence in the asset-based lending market in the second quarter was driven by hopes of a soft landing for the U.S. economy, according to data released by the Secured Finance Network. But lingering headwinds and recession risks still must be taken seriously.

Tucows Inc. (NASDAQ: TCX) (TSX: TC), a global company dedicated to making the internet better, is pleased to announce that on September 22, 2023, the company and its wholly owned subsidiaries entered into a new Credit Agreement with Bank of Montreal ("BMO") as administrative agent which provides for a revolving Credit Facility of up to $240 million, with an accordion for $60 million.

FLO, a leading North American electric vehicle (EV) charging company and a smart charging solutions provider, announced it secured a C$60 million revolving credit facility from National Bank of Canada, via its Technology and Innovation Banking Group.

Renaissance Asset Finance, a subsidiary of the private and commercial bank, Arbuthnot Latham, has confirmed their support for specialist SME lender, One Stop Business Finance, with the completion of a block discounting facility. The revolving credit facility, which was completed in August, backs the Group with £5m to help them achieve their ambitious growth objectives.

K92 Mining Inc. (“K92” or the “Company”) (TSX: KNT; OTCQX: KNTNF) is pleased to announce that it has entered into a loan agreement with Trafigura Pte Ltd, a market leader in the global commodities industry, pursuant to which Trafigura will provide a US$100 million senior secured loan (the “Loan”) to K92.

MUFG announced it made several leadership changes within its Asset-Based Finance team, effective September 19. The changes are designed to align the team to better support MUFG’s overall ABF growth strategy in the Americas. Leadership team members will be based in three key markets – New York, Boston, and Los Angeles.

King Trade Capital is pleased to provide a seasonal increase to an existing clients PO finance facility in support of their seasonal sales growth into big box retail.

Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending, purchase order financing, d2c and e-commerce inventory financing firm in the United States, today announced the completion of two factoring transactions by its West Coast office.

Ocean Bank has closed on a $10 million capital facility to a major flower importer that will provide the company with working capital during its low season and allow for its continued growth.

SG Credit Partners, through its SG Software + Technology division, is thrilled to announce its partnership with Folloze via a $6 million credit facility. Folloze, the world’s first and only no-code B2B Buyer Experience Platform (BX 3.0), is used by B2B marketing, sales, and revenue teams.

The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity from 25 companies representing a cross section of the $1 trillion equipment finance sector, showed their overall new business volume for August was $10.1 billion, up 14 percent year-over-year from new business volume in August 2022. Volume was up 2 percent from $9.9 billion in July.

Our wealth of data and information is core to our business, but we just don’t accept numbers and figures and move on. We take extra steps to fact check, walk the properties, go on-site, visit with managers, and partner with third parties, all in the name of getting it right. The legwork pays off when we create new possibilities while respecting legacies.

Golub Capital today announced that Karim Salazar Antoni has joined the Firm as a Director based in Miami. In his new role, he will be dedicated to serving the U.S. offshore market alongside institutional and private wealth investors in Latin America.

Capstone Copper Corp. (“Capstone” or the “Company”) (TSX:CS) is pleased to announce that it has amended its existing revolving credit facility (the “Amended Credit Facility”) to increase the aggregate commitments from $600 million to $700 million and extend the maturity from May 2026 to September 2027.

The company, which sells to some of the largest U.S. retailers, suffered from rising costs and disruptions in its supply chain.

Siena Lending Group LLC ("Siena") announces the completion of a $20 million asset-based revolving line of credit for a privately held aerospace manufacturer (“AM”) headquartered in Ontario, Canada. The facility was established to repay certain existing shareholder debt and to support the company’s future working capital needs.

Cape Cod 5, headquartered in Hyannis, MA, and Fidelity Bank, headquartered in Leominster, MA, today announced that they have reached an agreement to merge their respective mutual holding companies under one multi-bank holding company, Mutual Bancorp, subject to regulatory approval.

InterNex Capital provided a $1.5 million facility to a Pennsylvania-based staffing company that provides consultants to Fortune 500 companies. The client sought to replace their existing combination of small lenders. Additionally, Client needed a working capital partner that could provide more flexible credit limits.

Encina Lender Finance, LLC (ELF) announced today the closing of an inaugural $25,000,000 senior credit facility for Sparrow Financial. Headquartered in Las Vegas, Sparrow is a fintech startup lending to consumers nationwide.

Amerisource Business Capital announced the closing and funding of a $14,000,000 working capital facility for a Texas-based provider of wireline solutions to the U.S. energy industry.