The California Department of Financial Protection and Innovation has issued its latest proposed regulations pertaining to CA SB 1235. SFNet will be submitting a comment letter by the deadline of April 26.

EVCS, one of the largest electric vehicle (EV) fast-charging network operators on the U.S. West Coast, today announced that it has closed a credit facility with the Commodity and Global Markets group of Macquarie Group. The credit facility will enable EVCS to deliver on the installation of a significant pipeline of Direct Current Fast-Charging (DCFC) stations, adding to its existing large-scale DCFC network.

SSG Capital Advisors, LLC (“SSG”) acted as the investment banker to New Hampshire Plastics, LLC (“NHP” or the “Company”) in the sale of substantially all of its assets to Grimco, Inc. (“Grimco”). The transaction closed in March 2021. New Hampshire Plastics is a leading manufacturer of High-Impact Polystyrene (“HIPS”). The Company primarily produces custom roll and sheet-extruded HIPS for several end markets.

CrowdOut Capital LLC, a pioneering non-bank lender for lower middle-market businesses, announced today the initial funding of a $20 million facility to Lane Gate Advisors. “We are thrilled to add a great borrower to our loan portfolio,” stated Alexander Schoenbaum, Chief Executive Officer of CrowdOut Capital. “Lane Gate has a team of experienced life settlement investors with a differentiated, niche strategy. CrowdOut is excited to be invested in such a quality, non-correlated asset space.”

Banc of California, Inc. (NYSE: BANC) (the “Company”), the holding company for Banc of California, N.A. (the “Bank”), today announced the appointment of Alex Kweskin as Executive Vice President and Chief Human Resources Officer of the Company and the Bank, effective Monday, May 3, 2021. Mr. Kweskin will be based in Santa Ana and report to Jared Wolff, President and CEO.

Assembled Brands is thrilled to celebrate the closing of a new revolving line of credit with InStyler, a high-tech hair and beauty company based in Culver City, California. Since launching their business in 2009, InStyler has developed into the market leader in innovative products for hair care and has substantially grown their online presence in addition to selling at retailers like Bed Bath & Beyond, Target, and Walmart.

After two consecutive quarters of declines, consumer credit delinquencies rose in the fourth quarter of 2020 as the toll of the pandemic-induced recession weighed on the economy, according to results from the American Bankers Association’s Consumer Credit Delinquency Bulletin. Overall, delinquencies rose in each of the 11 loan categories tracked by ABA.

Citizens M&A Advisory announced today that it served as the exclusive financial advisor to Air Purchases of New Hampshire, Inc. (“API”) in its sale to Munch’s Supply, a portfolio company of Charlotte-based Ridgemont Equity Partners. Headquartered in Manchester, N.H., API is a leading distributor of premium HVAC equipment and accessories for residential and commercial end markets.

With increased demand for building services and bank credit still tight, a wide range of companies took advantage of CapitalPlus’ speedy accounts receivable funding to confidently take on new work this March.

BHI, a full-service commercial bank, announced that its Healthcare Group has arranged $41,860,000 in construction financing for the Oasis at Coral Reef, a new 217,123-square-foot luxury senior living facility under development in Miami, adjacent to Jackson South Medical Center. BHI has provided financing of $31,860,000 and Coastal States Bank $10 million. The borrower is Royal Senior Care, which owns and operates senior living facilities in the Southeastern United States with a primary focus in South Florida.

White Oak ABL, LLC (“White Oak”), an affiliate of White Oak Global Advisors, LLC, announced it provided a second $10 million line increase and extension, bringing the total ABL Credit Facility to $95 million, to Hunt & Sons, Inc., a third-generation, family-owned diversified petroleum products distributor. This is the fourth amendment closed between the firms.

LBC Credit Partners ("LBC”) announced the final closing of LBC Credit Partners V, L.P. (“LBC V”), and a fund raised contemporaneously adding $808 million of equity commitments to the firm’s capital base. To date, LBC V has funded 28 investments and with LBC’s robust pipeline, the firm continues to evaluate many opportunities for the platform.

Humacyte, Inc., a clinical-stage biotechnology platform company developing universally implantable bioengineered human tissue at commercial scale, today announced the closing of a secured debt financing facility with Silicon Valley Bank for up to $50 million, of which the first $20 million was funded at closing.

Monroe Capital LLC today announced Jayro Yoo has joined the firm as Director based in Texas. Jayro will serve on the firm’s Marketing & Investor Relations team. Prior to Monroe, Jayro was a Vice President at DWS Asset Management where he focused on raising capital for DWS’s alternative investment platform.

Environmental, social and governance (ESG) issues pose higher credit risk to certain structured finance asset classes and certain global regions, with evolving regulations and shifting consumer demand exposing transactions to the potential for falling asset values or declining cash flow. According to a new report from Moody's Investors Service, structural features, short loan tenors and asset diversification help minimize ESG issues' credit negative effects on securitizations and covered bond deals.

Crestmark is pleased to announce that Rick Pierman has been named senior vice president, business unit president of the Crestmark Equipment Finance (CEF) business unit. Based in Troy, Pierman will report to division president, Christopher Soupal. Pierman previously held the role of senior vice president, strategic operations with CEF. In this new role, he is responsible for overseeing CEF’s equipment finance portfolio, succeeding Tom Rutherford, who remains with the company in support of division special projects.

A beverage company in Idaho has chosen TAB Bank for a $3 million revolving credit facility. The new facility is extended through a multi-year agreement and will provide the means to fund growth for the company. The company is a wholesaler of beverage products. In 2019, the company entered into a contract with a sizeable retail customer to serve their beverage products at all their locations nationwide.

Travelers Capital, a transitional capital financing initiative from Travelers Financial Group designed to support small and mid-market businesses that operate in asset-intensive industries, announced today its alliance with Ritchie Bros., a leading global provider of asset management, valuation, and disposition solutions.

Middle market private companies in the Golub Capital Altman Index experienced year-over-year earnings growth of 16.3% and revenue growth of 3.2% during the first two months of the first quarter of 2021. This compares to year-over-year earnings growth of 14.9% and revenue growth of 2.9% in the fourth quarter of 2020. This is the last comparison of post-Covid profit performance to a completely pre-Covid period, and the growth rate demonstrates very meaningful economic strength in the U.S. middle market.

Runway Growth funded seven loans during the first quarter ended March 31, 2021, including two investments in new portfolio companies and five follow-on investments in existing portfolio companies. These included a $25 million senior secured term loan commitment to Allurion Technologies, Inc.; $20 million senior secured term loan commitment to Bombora, Inc.; $15 million additional funding to existing portfolio company Vero Biotech LLC and $3.3 million advance to four existing portfolio companies.