Reich Bros Structured Finance (RBSF ) has announced its subsidiary, Reich Bros Business Solutions, LLC, a leading provider of capital solutions to companies across a wide range of industries, will operate, effective immediately, under the name Align Business Finance (www.alignbusinessfinance.com). The new name more accurately addresses the company’s customer philosophy, which is to align with itsborrowers’ financial needs, and provide capital so our clients can Align their business

In the past 2 months nine clients were able to grow their businesses by leveraging working capital from their machinery with equipment financing provided by Loeb Term Solutions. These winning solutions amount to $10 million in covenant-free financing for businesses ranging from transportation to earth moving, from a truck fabricator to an underground utility contractor, from a steel producer to a protein producer, and several others.

Sallyport Commercial Finance arranges a $3,000,000 accounts receivable facility for a national distributor of gaming and consumer electronics. Due to the COVID-19 pandemic, the business has expanded their products to include personal protective equipment such as masks and gloves.

Clayton Stallbaumer and Staci Rosche of McGuireWoods summarized the changes to the MSLP, which were announced on Monday.

Clear Thinking Group LLC, the award-winning business advisory firm, is pleased to announce the promotion of Brian Allen to Senior Managing Director effective immediately. Mr. Allen has over twenty-five years of experience serving in Controller and CFO positions with both public and private companies.

Under the updated terms of the agreement with HCR, the company will receive an additional $15 million on top of the $45 million royalty financing commitment HCR made in 2018 for royalty rights based on sales for elobixibat in the treatment of chronic constipation in Japan. Under the terms of the new agreement with Hercules Capital, Albireo may access up to $80 million of new capital, with an initial minimum of $10 million drawn down on a first available tranche of $15M, and additional tranches based on regulatory and other milestones.

Robinson Fans Holdings, Inc., located in Zelienople, Pennsylvania, is a designer and manufacturer of industrial fans and air moving equipment.

TAB Bank is pleased to announce it has provided an $8 million asset-based revolving credit facility for a consumer lighting products company based in Utah. The new facility is extended through a multi-year agreement and will provide for the ongoing working capital needs for the company.

Wild Sky Media, an interactive media company and home to parenting and lifestyle brands CafeMom, Mom.com, LittleThings, Revelist, Babynamewizard, and MamasLatinas. The transaction was completed on a debt-free and cash-free basis, free and clear of any liens and encumbrances for a total enterprise value of $15.0 million, in addition to 2.5 million shares of common stock of Bright Mountain Media, Inc. Centre Lane funded a $15.0 million first lien senior secured term loan to Bright Mountain Media to finance the purchase price at closing.

Rayonier Advanced Materials Inc. (the “Company”) today announced that, in working with its lenders under its Senior Secured Credit Agreement, it has entered into an amendment (the “Amendment”) under which, among other changes, the lenders have agreed to relax the financial covenants through 2022. In addition, the Amendment provides additional liquidity to the Company by reducing the minimum availability the Company is required to maintain under its revolving credit facility. The Amendment added a 1 percent LIBOR floor and lenders were paid a customary fee as consideration for their consent to the Amendment.

Serta Simmons Bedding, LLC ("SSB" or the "Company"), the largest manufacturer and distributor of mattresses in North America, today entered into a transaction support agreement with a majority of its First Lien and Second Lien Term Loan Holders to recapitalize the Company. The transaction is expected to reduce net debt by approximately $400 million, and further provides for $200 million in new capital to increase its financial strength and support the acceleration of SSB's business transformation plan.

Orion Group Holdings, Inc. (NYSE: ORN) (the "Company") a leading specialty construction company, today announced it has entered into an amendment to its existing credit agreement with Regions Bank and other lenders, providing for a new $20 million revolving credit facility to supplement its existing $50 million revolver. The new revolver will have a term of one year.

Douglas Dynamics, Inc. (NYSE: PLOW), North America's premier manufacturer and upfitter of work truck attachments and equipment, today announced it has refinanced its existing senior secured credit facilities with $375 million of new credit facilities, consisting of a $275 million 6-year Senior Secured Term Loan B Facility due June 2026 and a $100 million 3-year Senior Secured ABL Revolving Credit Facility due June 2023. The proceeds from the borrowings will be used for general corporate purposes, including repaying the entirety of the company’s prior $226 million Term Loan B Facility that was scheduled to mature on December 31 2021.

QuickFi® by Innovation Finance USA, LLC is pleased to provide financing services for Johnson Controls International customers. Johnson Controls is a worldwide leader in optimizing building performance to improve safety and enhance comfort. QuickFi enables business equipment purchasers to initiate and complete fixed-rate, term equipment financing transactions, which previously took days or weeks, in only three minutes.

The Federal Reserve Board on Monday expanded its Main Street Lending Program to allow more small and medium-sized businesses to be able to receive support. The Board lowered the minimum loan amount, raised the maximum loan limit, adjusted the principal repayment schedule to begin after two years, and extended the term to five years, providing borrowers with greater flexibility in repaying the loans. The Board expects the Main Street program to be open for lender registration soon and to be actively buying loans shortly afterwards.

This weekend, the SBA released its latest Payroll Protection Program (PPP) loan update. Please see the attached report.

Paul, Weiss, Rifkind, Wharton & Garrison LLP announced today that Andrew M. Parlen is joining the firm as a partner in the Restructuring Department, resident in the New York office. Mr. Parlen represents public and private companies, ad hoc groups of creditors and investors in a variety of distressed situations, including out-of-court restructurings, prepackaged and prearranged chapter 11 reorganizations, debtor-in-possession financings and acquisitions of distressed companies.

SBA Administrator Jovita Carranza and U.S. Treasury Secretary Steven T. Mnuchin issued the following statement today following the enactment of the Paycheck Protection Program (PPP) Flexibility Act: “We want to thank President Trump for his leadership and commend Leader McConnell, Leader Schumer, Speaker Pelosi, and Leader McCarthy for working on a bipartisan basis to pass this legislation for small businesses participating in the Paycheck Protection Program.

Joint venture partners Gordon Brothers and Hilco Global announced that they have commenced “Going-Out-of-Business” sales at more than 350 open Pier 1 stores across the United States. Pier 1 announced on Friday, May 29 that it has received approval from the U.S. Bankruptcy Court to begin an orderly wind-down of its retail operations as soon as reasonably possible, pending each location’s ability to reopen following mandated closures due to the impact of COVID-19. It is estimated that all remaining stores will be operating going out of business sales by mid-June, or as soon as the stores can reopen based on respective state and local guidelines.

QEP Resources, Inc. (NYSE:QEP) (QEP or the Company) announced today that it has entered into an amendment to its existing credit agreement with Wells Fargo Bank, National Association, and other lenders (the Credit Agreement).