• Core Molding Technologies Reports Significant Increase In Third Quarter 2020 Earnings And A New Credit Facility
    November 9, 2020
    On October 27, 2020, the Company closed a new credit facility with Wells Fargo Bank and FGI Equipment Finance, LLC. The new credit facility is a combination of $31.7 million of new term loan capacity and $25.0 million of revolving loan capacity. Upon closing the new credit facility, the Company borrowed $30.0 million of term loans and $8.7 million of revolving credit loans to repay its existing credit facility and pay transaction fees.
  • Franklin Capital Announces Participation in the SFNet 76th Annual Convention
    November 9, 2020
    Franklin Capital, a leading finance company, dedicated to helping small to medium-sized businesses meet their cash flow needs, is pleased to announce our participation in the SFNet’s 76th Annual Convention, the largest gathering of secured finance professionals, November 17-19, 2020.
  • Hertz Global Holdings Secures A $4 Billion Commitment For Fleet Financing To Support A Refreshed And Robust Vehicle Fleet
    November 5, 2020
    Hertz Global Holdings, Inc. ("Hertz" or "The Company") (OTCPK: HTZGQ) today announced that it has secured commitments for fleet financing totaling $4 billion and has filed a motion for approval of The Hertz Corporation entering into the documentation for the financing by the U.S. Bankruptcy Court for the District of Delaware. Upon approval, and together with the up to $1 billion of Hertz's debtor-in-possession financing that may be used for equity in the fleet financing subsidiary, Hertz will have access to up to $5 billion in total funding to support its fleet financing needs. Moelis & Co. is serving as investment banker, FTI Consulting is serving as Hertz's financial advisor and White & Case LLP is serving as Hertz's legal advisor.
  • Main Street Announces Increase in Commitments Under its Credit Facility Total Commitments Increased to $780 Million
    November 5, 2020
    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 $740.0 million to $780.0 million. The $40.0 million net increase in total commitments was the result of the addition of a new lender relationship, which further diversifies the Main Street lending group under the Credit Facility to a total of nineteen participants. The recent increase in total commitments was executed under the accordion feature of the Credit Facility, which allows for an increase up to $800.0 million in total commitments under the facility from new and existing lenders on the same terms and conditions as the existing commitments.
  • Crestmark Provides More Than $23.3 Million in Commercial Financing to 84 Businesses in the Second Half of October
    November 5, 2020
    Crestmark secured a total of $11,018,800 in ABL financial solutions for seven new clients; Crestmark Equipment Finance provided $3,759,627 in two new lease transactions; Crestmark Vendor Finance provided $6,249,333 in 73 new transactions; the Government Guaranteed Lending group provided $2,420,000 in financing for two new clients in the second half of October.
  • Moritt Hock Ranked Best Law Firm By U.S. News & World Report Best Lawyers
    November 5, 2020
    U.S. News & World Report and Best Lawyers®, for the eleventh consecutive year, announce the "Best Law Firms" rankings. Moritt Hock & Hamroff has been ranked in the 2021 U.S. News - Best Lawyers® "Best Law Firms" list nationally in 1 practice area and regionally in 1 practice area.
  • B. Riley Advisory Services Opens Office in Mexico
    November 5, 2020
    B. Riley Advisory Services, a specialty financial advisory services firm and subsidiary of B. Riley Financial, Inc. (NASDAQ: RILY), today announced the opening of an office in Mexico. B. Riley Advisory Services de Mexico. S. de R.L. ("B. Riley Advisory Services de Mexico") will be led by Gaston Mauvezin, a seasoned executive with 20+ years of leadership experience at firms in the Automotive, Financial Services, Real Estate, Agribusiness, Industrial and Consumer markets in Argentina, Brazil and Mexico.
  • Webster Promotes Jonathan W. Roberts to Lead Retail Banking and Consumer Lending
    November 5, 2020
    Webster Financial Corporation (NYSE: WBS), the holding company for Webster Bank, N.A. and its HSA Bank division, is pleased to announce that Executive Vice President Jonathan W. Roberts has been promoted to Head of Retail Banking and Consumer Lending at Webster Bank and Webster Financial Corporation. In his role, he will oversee retail operations and the banking center network, and will lead core consumer products and services, including small business banking. Roberts will report directly to Chairman, President and CEO John R. Ciulla.
  • Udacity Signs $75M Debt Facility with Hercules Capital
    November 5, 2020
    Udacity, a Mountain View, CA-based global online learning platform educating workers for the careers of the future, signed a $75m debt facility with Hercules Capital (NYSE: HTGC). The company intends to use the funds to continue to expand operations and its business reach.
  • WSFS Bank Adds Experienced Commercial Banking Team in Philadelphia
    November 5, 2020
    WSFS Bank, the primary subsidiary of WSFS Financial Corporation (Nasdaq: WSFS), today announced the expansion of its Commercial Banking team in the Greater Philadelphia area as part of its strategic plan to invest in talent and build long term value. The team joining WSFS Bank is Kevin J. Beaford, Jr., Patrick Fisher, Graham R. Palusky, and Brian Quach. Fisher will lead the group, which brings more than 40 years of combined experience to WSFS. He will report directly to Steve Clark, Executive Vice President, Chief Commercial Banking Officer.
  • BlackRock Capital Investment Corporation Announces Appointments of Nik Singhal as President and Abby Miller as CFO and Treasurer
    November 5, 2020
    BlackRock Capital Investment Corporation (NASDAQ: BKCC) ("BCIC" or the "Company") announced today the appointments of Nik Singhal as President, effective November 3, 2020, and Abby Miller as Chief Financial Officer and Treasurer, to be effective as of November 9, 2020, at which time Michael Pungello, Interim Chief Financial Officer and Treasurer will step down from those posts. The Company also announced the planned retirement of Mr. Pungello from BlackRock in March 2021. Mr. Pungello will serve in an advisory role until then.
  • Hilco Redevelopment Partners Hires Real Estate Industry Professional George Needs as Vice President – Mixed Use Development
    November 5, 2020
    Mr. Needs joins the growing HRP organization and will be a vital addition to the new urban mixed-use development team. Mr. Needs will join Melissa Schrock, who was recently brought on to lead the team, and together, they will be responsible for managing several exciting projects currently underway, including L Street Station in Boston, Massachusetts and Campus Bay in San Francisco, California, among other significant projects throughout the country. He will be based on Boston, MA.
  • Sterling National Bank Provides $3,000,000 to a Staffing Solutions Firm
    November 5, 2020
    Sterling National Bank's Commercial Services Group provided senior secured credit facilities totaling $3,000,000 to a staffing solutions firm located in New York, NY. The transaction was originated by Robert Mocerino, a Managing Director located in Jericho, NY.
  • Tiger Auctioning Assets From One of Canada’s Largest AV Rental Houses
    November 5, 2020
    In a three-day online auction event scheduled for November 17-19, Tiger Group will be selling gear from the recently closed Westbury National Show Systems Ltd. (“Westbury”), which had long been one of Canada’s largest full-service live event rental production companies. Westbury, which operated from an approximately 60,000-square-foot facility in metro Toronto, was placed in receivership on October 9, 2020.
  • Monroe Capital Corporation Announces Third Quarter 2020 Business Development Company Results
    November 5, 2020
    Third Quarter 2020 Financial Highlights: • Paid quarterly dividend of $0.25 per share; • Current annual cash dividend yield to shareholders of approximately 15.3%1; • Shares trading at a Price to NAV of 0.60x2; • Net Investment Income of $5.6 million, or $0.26 per share; • Adjusted Net Investment Income of $5.8 million, or $0.27 per share; and • Net increase in net assets resulting from operations of $15.2 million, or $0.71 per share
  • McCoy Global Secures New Credit Facility and Refinances Promissory Note
    November 4, 2020
    McCoy Global Inc. ("McCoy", "McCoy Global" or "the Corporation") (TSX: MCB) today announced it has secured a new US$2.5 million revolving demand facility with a Canadian chartered bank to support working capital. The facility is subject to customary disbursement conditions including the satisfactory placement of a general security agreement over the Corporation's assets and final review by Export Development Canada under its Export Guarantee Program. The Corporation has also successfully refinanced its existing US$2.4 million promissory note with a US$3.4 million term facility to extend maturity and support McCoy Global's 2020 technology development program.
  • Hilco Global Continues Support for the All Stars Project - Chicago with an Additional $50,000 Donation in 2020
    November 4, 2020
    Hilco Global (www.hilcoglobal.com), the world’s preeminent authority on asset valuation, monetization, and advisory services, announced today that it has donated an additional $50,000 to the All Stars Project in Chicago. The donation is part of an ongoing company program called Hilco Helps, Hilco Global’s philanthropic arm that supports its corporate and employee commitment to various causes, often focused on children and education. Over the years, Hilco Helps has actively worked with several Chicago-area organizations such as Youth Guidance, Cradles to Crayons, Chicago Public Schools, Chicago Public Library, Community Colleges of Chicago, and All Stars Project providing critical support to help those that need it most.
  • SB360 Capital Partners to Assist Pet Valu, Inc. With Wind Down of All U.S.-Based Stores
    November 4, 2020
    SB360 Capital Partners, a leading asset disposition specialist, has been engaged by Pet Valu, Inc., a specialty retailer of premium pet food, treats and supplies in the United States, to assist the company with the wind down of its U.S. based stores. Pet Valu, Inc. named SB360 as its exclusive consultant to operate “Store Closing” or “Total Inventory Blowout” sales in 358 stores located across 14 states. The sales begin today in all stores.
  • InterNex Capital Provides $2MM Velocity LOC to Florida-Based Food Manufacturer
    November 4, 2020
    InterNex Capital provided a $2 million velocity line of credit and a $550,000 stretch facility to a Florida-based food manufacturer that sells low carb, ready-to-eat foods through U.S. distributors and directly to consumers online.
  • Capital Finance Industry Veterans Launch New Company: Honour Capital
    November 4, 2020
    Brian Slipka, a Twin Cities-based entrepreneur and former senior vice president and head of TCF Technology Finance at TCF Capital Solutions/Winthrop Resources Corporation, a division of TCF Bank, along with Shea Huston, former regional vice president of the central and western U.S. for Winthrop, today announced the launch of a new capital finance company, Honour Capital.
  • Core Molding Technologies Reports Significant Increase In Third Quarter 2020 Earnings And A New Credit Facility
    November 9, 2020
    On October 27, 2020, the Company closed a new credit facility with Wells Fargo Bank and FGI Equipment Finance, LLC. The new credit facility is a combination of $31.7 million of new term loan capacity and $25.0 million of revolving loan capacity. Upon closing the new credit facility, the Company borrowed $30.0 million of term loans and $8.7 million of revolving credit loans to repay its existing credit facility and pay transaction fees.
  • Franklin Capital Announces Participation in the SFNet 76th Annual Convention
    November 9, 2020
    Franklin Capital, a leading finance company, dedicated to helping small to medium-sized businesses meet their cash flow needs, is pleased to announce our participation in the SFNet’s 76th Annual Convention, the largest gathering of secured finance professionals, November 17-19, 2020.
  • Hertz Global Holdings Secures A $4 Billion Commitment For Fleet Financing To Support A Refreshed And Robust Vehicle Fleet
    November 5, 2020
    Hertz Global Holdings, Inc. ("Hertz" or "The Company") (OTCPK: HTZGQ) today announced that it has secured commitments for fleet financing totaling $4 billion and has filed a motion for approval of The Hertz Corporation entering into the documentation for the financing by the U.S. Bankruptcy Court for the District of Delaware. Upon approval, and together with the up to $1 billion of Hertz's debtor-in-possession financing that may be used for equity in the fleet financing subsidiary, Hertz will have access to up to $5 billion in total funding to support its fleet financing needs. Moelis & Co. is serving as investment banker, FTI Consulting is serving as Hertz's financial advisor and White & Case LLP is serving as Hertz's legal advisor.
  • Main Street Announces Increase in Commitments Under its Credit Facility Total Commitments Increased to $780 Million
    November 5, 2020
    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 $740.0 million to $780.0 million. The $40.0 million net increase in total commitments was the result of the addition of a new lender relationship, which further diversifies the Main Street lending group under the Credit Facility to a total of nineteen participants. The recent increase in total commitments was executed under the accordion feature of the Credit Facility, which allows for an increase up to $800.0 million in total commitments under the facility from new and existing lenders on the same terms and conditions as the existing commitments.
  • Crestmark Provides More Than $23.3 Million in Commercial Financing to 84 Businesses in the Second Half of October
    November 5, 2020
    Crestmark secured a total of $11,018,800 in ABL financial solutions for seven new clients; Crestmark Equipment Finance provided $3,759,627 in two new lease transactions; Crestmark Vendor Finance provided $6,249,333 in 73 new transactions; the Government Guaranteed Lending group provided $2,420,000 in financing for two new clients in the second half of October.
  • Moritt Hock Ranked Best Law Firm By U.S. News & World Report Best Lawyers
    November 5, 2020
    U.S. News & World Report and Best Lawyers®, for the eleventh consecutive year, announce the "Best Law Firms" rankings. Moritt Hock & Hamroff has been ranked in the 2021 U.S. News - Best Lawyers® "Best Law Firms" list nationally in 1 practice area and regionally in 1 practice area.
  • B. Riley Advisory Services Opens Office in Mexico
    November 5, 2020
    B. Riley Advisory Services, a specialty financial advisory services firm and subsidiary of B. Riley Financial, Inc. (NASDAQ: RILY), today announced the opening of an office in Mexico. B. Riley Advisory Services de Mexico. S. de R.L. ("B. Riley Advisory Services de Mexico") will be led by Gaston Mauvezin, a seasoned executive with 20+ years of leadership experience at firms in the Automotive, Financial Services, Real Estate, Agribusiness, Industrial and Consumer markets in Argentina, Brazil and Mexico.
  • Webster Promotes Jonathan W. Roberts to Lead Retail Banking and Consumer Lending
    November 5, 2020
    Webster Financial Corporation (NYSE: WBS), the holding company for Webster Bank, N.A. and its HSA Bank division, is pleased to announce that Executive Vice President Jonathan W. Roberts has been promoted to Head of Retail Banking and Consumer Lending at Webster Bank and Webster Financial Corporation. In his role, he will oversee retail operations and the banking center network, and will lead core consumer products and services, including small business banking. Roberts will report directly to Chairman, President and CEO John R. Ciulla.
  • Udacity Signs $75M Debt Facility with Hercules Capital
    November 5, 2020
    Udacity, a Mountain View, CA-based global online learning platform educating workers for the careers of the future, signed a $75m debt facility with Hercules Capital (NYSE: HTGC). The company intends to use the funds to continue to expand operations and its business reach.
  • WSFS Bank Adds Experienced Commercial Banking Team in Philadelphia
    November 5, 2020
    WSFS Bank, the primary subsidiary of WSFS Financial Corporation (Nasdaq: WSFS), today announced the expansion of its Commercial Banking team in the Greater Philadelphia area as part of its strategic plan to invest in talent and build long term value. The team joining WSFS Bank is Kevin J. Beaford, Jr., Patrick Fisher, Graham R. Palusky, and Brian Quach. Fisher will lead the group, which brings more than 40 years of combined experience to WSFS. He will report directly to Steve Clark, Executive Vice President, Chief Commercial Banking Officer.
  • BlackRock Capital Investment Corporation Announces Appointments of Nik Singhal as President and Abby Miller as CFO and Treasurer
    November 5, 2020
    BlackRock Capital Investment Corporation (NASDAQ: BKCC) ("BCIC" or the "Company") announced today the appointments of Nik Singhal as President, effective November 3, 2020, and Abby Miller as Chief Financial Officer and Treasurer, to be effective as of November 9, 2020, at which time Michael Pungello, Interim Chief Financial Officer and Treasurer will step down from those posts. The Company also announced the planned retirement of Mr. Pungello from BlackRock in March 2021. Mr. Pungello will serve in an advisory role until then.
  • Hilco Redevelopment Partners Hires Real Estate Industry Professional George Needs as Vice President – Mixed Use Development
    November 5, 2020
    Mr. Needs joins the growing HRP organization and will be a vital addition to the new urban mixed-use development team. Mr. Needs will join Melissa Schrock, who was recently brought on to lead the team, and together, they will be responsible for managing several exciting projects currently underway, including L Street Station in Boston, Massachusetts and Campus Bay in San Francisco, California, among other significant projects throughout the country. He will be based on Boston, MA.
  • Sterling National Bank Provides $3,000,000 to a Staffing Solutions Firm
    November 5, 2020
    Sterling National Bank's Commercial Services Group provided senior secured credit facilities totaling $3,000,000 to a staffing solutions firm located in New York, NY. The transaction was originated by Robert Mocerino, a Managing Director located in Jericho, NY.
  • Tiger Auctioning Assets From One of Canada’s Largest AV Rental Houses
    November 5, 2020
    In a three-day online auction event scheduled for November 17-19, Tiger Group will be selling gear from the recently closed Westbury National Show Systems Ltd. (“Westbury”), which had long been one of Canada’s largest full-service live event rental production companies. Westbury, which operated from an approximately 60,000-square-foot facility in metro Toronto, was placed in receivership on October 9, 2020.
  • Monroe Capital Corporation Announces Third Quarter 2020 Business Development Company Results
    November 5, 2020
    Third Quarter 2020 Financial Highlights: • Paid quarterly dividend of $0.25 per share; • Current annual cash dividend yield to shareholders of approximately 15.3%1; • Shares trading at a Price to NAV of 0.60x2; • Net Investment Income of $5.6 million, or $0.26 per share; • Adjusted Net Investment Income of $5.8 million, or $0.27 per share; and • Net increase in net assets resulting from operations of $15.2 million, or $0.71 per share
  • McCoy Global Secures New Credit Facility and Refinances Promissory Note
    November 4, 2020
    McCoy Global Inc. ("McCoy", "McCoy Global" or "the Corporation") (TSX: MCB) today announced it has secured a new US$2.5 million revolving demand facility with a Canadian chartered bank to support working capital. The facility is subject to customary disbursement conditions including the satisfactory placement of a general security agreement over the Corporation's assets and final review by Export Development Canada under its Export Guarantee Program. The Corporation has also successfully refinanced its existing US$2.4 million promissory note with a US$3.4 million term facility to extend maturity and support McCoy Global's 2020 technology development program.
  • Hilco Global Continues Support for the All Stars Project - Chicago with an Additional $50,000 Donation in 2020
    November 4, 2020
    Hilco Global (www.hilcoglobal.com), the world’s preeminent authority on asset valuation, monetization, and advisory services, announced today that it has donated an additional $50,000 to the All Stars Project in Chicago. The donation is part of an ongoing company program called Hilco Helps, Hilco Global’s philanthropic arm that supports its corporate and employee commitment to various causes, often focused on children and education. Over the years, Hilco Helps has actively worked with several Chicago-area organizations such as Youth Guidance, Cradles to Crayons, Chicago Public Schools, Chicago Public Library, Community Colleges of Chicago, and All Stars Project providing critical support to help those that need it most.
  • SB360 Capital Partners to Assist Pet Valu, Inc. With Wind Down of All U.S.-Based Stores
    November 4, 2020
    SB360 Capital Partners, a leading asset disposition specialist, has been engaged by Pet Valu, Inc., a specialty retailer of premium pet food, treats and supplies in the United States, to assist the company with the wind down of its U.S. based stores. Pet Valu, Inc. named SB360 as its exclusive consultant to operate “Store Closing” or “Total Inventory Blowout” sales in 358 stores located across 14 states. The sales begin today in all stores.
  • InterNex Capital Provides $2MM Velocity LOC to Florida-Based Food Manufacturer
    November 4, 2020
    InterNex Capital provided a $2 million velocity line of credit and a $550,000 stretch facility to a Florida-based food manufacturer that sells low carb, ready-to-eat foods through U.S. distributors and directly to consumers online.
  • Capital Finance Industry Veterans Launch New Company: Honour Capital
    November 4, 2020
    Brian Slipka, a Twin Cities-based entrepreneur and former senior vice president and head of TCF Technology Finance at TCF Capital Solutions/Winthrop Resources Corporation, a division of TCF Bank, along with Shea Huston, former regional vice president of the central and western U.S. for Winthrop, today announced the launch of a new capital finance company, Honour Capital.
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