The U.S. economy will progressively slow through the first half of 2023 and fears of a recession are still high, and still warranted. Inflation and interest rate increases intended to combat swiftly rising prices are behind the broad economic slowdown. But with the unemployment rate at a 53-year low and inflation trending lower, forecasts are turning at least a little less gloomy.

Stonebriar Commercial Finance (“Stonebriar”) today announced the promotion of Jon Dahlfors to the position of Director - Credit. Dahlfors will continue to report to Sr. Managing Director – Credit, Jeff C. McCoy. Following his graduation from the University of Kansas with a BS in accounting, Dahlfors began his career as an analyst at Guggenheim Partners in 2014.

Dechert LLP announced today that accomplished private equity lawyer Nick Marchica will join its New York office as a partner in the corporate group. Mr. Marchica's arrival continues Dechert's U.S. private equity and private credit expansion over the past year, following the additions of David Cosgrove in Charlotte; Nicole Macarchuk in San Francisco; William Robertson, Kevin Zaragoza and En-Min Chua in New York; and including 12 of the firm's 17 recently promoted partners.

SetPoint Medical, a clinical-stage healthcare company dedicated to patients with chronic autoimmune diseases, today announced a senior secured term loan facility of up to $65 million from Runway Growth Capital LLC (“Runway”), a leading provider of growth loans to both venture and non-venture backed companies. The loan is an expansion of an existing credit facility with Runway. The company recently announced an $80 million equity financing to advance its novel platform for the treatment of autoimmune disease.

LivAway Suites, a new economy extended stay concept boasting a developer-centric platform, has arranged $85 Million in debt financing through Keystone National Group for its first locations nationally. Following two years of market research and brand development planning, LivAway Suites has assembled numerous sites in top extended stay markets across the United States that will break ground in 2023.

InterNex Capital announces the funding of a dual $1.55 million term loan and revolving line of credit to a NY-based consulting firm. The firm launched its technology consulting services in 2021 and had explosive growth in 2022.

Weakening consumer and business spending, and improving supply chains, will support the Federal Reserve’s efforts to drive inflation lower this year and next toward its 2% target, according to the latest forecast of the American Bankers Association’s Economic Advisory Committee. The committee, comprised of 15 chief economists from some of North America’s largest banks, also expects stalling economic growth in 2023 followed by a modest recovery in 2024.

WebBank is pleased to announce the appointment of Kelsey Hardy as the Senior Vice President – Business Development. Kelsey joined WebBank in December 2015, bringing more than ten years of business development, contract structuring, negotiating and oversight experience. During her tenure at the Bank, Kelsey has held various positions in Compliance, Due Diligence & Implementation and most recently, as Vice President - Business Development.

Audax Private Debt (“Audax”), a leading provider of financing solutions for middle market private equity sponsors, announced today that it successfully closed Audax Direct Lending Solutions Fund II, LP (“DLS Fund II”) with $3.0 billion of capital commitments. The new fund, which reached its hard cap, exceeded its fundraising target of $2.25 billion and, including targeted leverage, provides New York-based Audax Private Debt with $4.5 billion of total investable capital.

Ares Capital Corporation (“Ares Capital”) (NASDAQ: ARCC) announced today that Jana Markowicz was appointed as its Chief Operating Officer (COO). In this newly created role, Ms. Markowicz will also serve as COO of Ares Management’s (“Ares”) U.S. Direct Lending strategy where she will collaborate with the U.S. Direct Lending Co-Heads and Investment Committee members in the management of the team and strategy.

Greater Commercial Lending (GCL), which provides government-guaranteed loans to businesses and organizations in rural communities, has completed $80 million in financing for Lane Regional Medical Center in Zachary, Louisiana. The loan package, guaranteed by the U.S. Department of Agriculture (USDA), will go towards renovating and expanding the existing hospital facility.

Commercial Funding Inc., a national provider of accounts receivable financing, including invoice factoring, and asset based lending, has closed a $3 million factoring facility for a rapidly growing provider of security services.

Main Street Capital Corporation (NYSE: MAIN) ("Main Street") is pleased to announce the expansion of total commitments under its revolving credit facility (the "Credit Facility") from $920.0 million to $980.0 million. The $60.0 million net increase in total commitments was the result of the addition of a new lender relationship.

United Capital Funding Group LLC, a Florida-based factoring firm with offices in Chicago recently provided a $2.5 million Debtor-In-Possession (DIP) facility to a California-based sports equipment wholesaler. With this new flexible form of financing, the wholesaler could work through its post-petition plan of reorganization and maintain its long-standing relationship with its major retail customer.

Assembled Brands announced five new partnerships and roughly $12MM in new facilities during the winter months of last year, dispersed to emerging consumer brands from multiple industries. The funds support growth opportunities, improve inventory positions and relieve some of the capital constraints many businesses faced due to economic uncertainty in 2022.

First Citizens Bank today announced that its Maritime Finance group, part of the CIT division, served as sole lead arranger on $44.2 million in debt financing for Navios Maritime Partners L.P. (“Navios Partners”). Proceeds from the financing, which is secured by product tankers, will be used by Navios Partners to refinance existing debt.

First Business Bank announces that its accounts receivable financing team recently funded a $10 million accounts receivable ledgered Line facility to a client operating as a transportation brokerage.

Pegasus Airlines closed the first ever sustainability-linked aircraft-secured term loan (“SLL”), which was guaranteed by UK Export Finance for the financing of ten new Airbus A321neo aircraft. The transaction was led by Societe Generale, acting as global arranger, sustainability structurer, facility agent and security trustee.

Forum Mobility, a zero-emission trucking solutions provider, today announced the closure of a $15 million Series A funding round, and a new $400 million joint venture, both led by a fund sponsored by CBRE Investment Management, to provide comprehensive, zero-emission charging and vehicle solutions to drayage truck fleets and drivers. Homecoming Capital also participated in the Series A funding round and provided $100 million to the joint venture.

William Blair, the premier global boutique with expertise in investment banking, investment management, and private wealth management, today announced the expansion of the equity research team with the addition of Scott Hansen as associate director of research. Based in New York, Hansen will work closely with and report to William Blair’s director of research, John Kreger.