TSL Feature Articles

  • Jhoefler headshot_150x150 Flexible Workplace Arrangements – Attracting and Retaining Talent in the Current Environment

    The secured finance industry, just like so many others, has demanded that remote work become the “norm.” Will this change better enable the industry to attract and retain top talent?

  • TSL June_OcejoRoundtableArt The “New Normal” Roundtable
    What challenges have industry executives been up against since the pandemic hit and what kind of future do they envision for the industry? TSL spoke with several SFNet members: Jason Hoefler, managing director/asset-based lending, BMO Harris Bank; Candice Hubert, senior vice president of business development, Republic Business Credit; Mark Polinsky, executive vice president and co-founder of Gateway Trade Funding; Georgia Quenby, partner, Morgan Lewis & Bockius; Stuart Rosenthal of Prestige Capital; and Dan Tortoriello, executive vice president/chief operating officer of North Mill Capital.
  • Ed Gately, MUFG COVID-19 is popularizing asset-based lending. Here’s why.
    Edward Gately of MUFG discusses the reasons for ABLs rise in popularity as a result of the pandemic.
  • LynnTanner_WinstonStrawn (Almost) Painless Networking

    Although experts generally agree that networking is important to career success, a surprisingly large number of professionals dread the process to the point that the mere mention of the word makes them anxious and irritated. Lynn Tanner of Winston and Strawn provides a detailed “cheat sheet” for taking the pain out of networking.

  • Reaching the Top: C-Suite Women in Secured Finance Roundtable

    What does it take to break the proverbial glass ceiling in secured finance? What does the journey to the “top” look like for women in financial services? We interviewed four C-Suite women and here is what they had to say. The women we spoke with are Meredith Carter, president and CEO, Context Business Lending; Miin Chen, COO, Siena Lending Group; Deborah Monosson, president & CEO, Boston Financial & Equity Corporation; and Jennifer Yount, partner, Paul Hastings LLP.

  • Myra Thomas Women Leaders Talk About Advancing in the Ranks

    Secured Finance executives and an executive recruiter discuss how the industry can attract and retain more women.

  • JenniferPalmer_TSLSpreadPhoto Interview with Jennifer Palmer

    In January, Gerber Finance announced the completion of its CEO succession strategy, naming longtime president Jennifer Palmer as CEO with Founder Gerald Joseph transitioning to his new role as strategic advisor and chairman of the board.

  • Jennifer Lickteig Innovation is Key to Survival for Factors
    The CEO of TBS Factoring discusses the importance of innovation in factoring and how she applies the lessons of the past to her current role.
  • RyanJaskiewicz Interview with Ryan Jaskiewicz of 12five Capital, LLC

    Ryan Jaskiewicz is CEO of 12five Capital, LLC. He started 12five Capital in early 2006 at the age of 23. Jaskiewicz attended University of Illinois at Chicago where he received a bachelor of arts in political science.

  • David Morse photo CARES Act Paycheck Protection Loan Program: From the Secured Lender Perspective

    Editor's Note: SFNet’s Advocacy Committee is prioritizing initiatives to support our bank, non-bank and service provider constituents.  A key component of this is analyzing the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which was enacted on March 27, for specific opportunities to address the needs of our members and borrowers across asset classes and industries, as the focus now turns to implementation.

  • Screen Shot 2020-04-21 at 8.39.46 PM copy Success By Lenders Working Together

    Forrest Gump said, “Life is like a box of chocolates; you never know what you are going to get.” Partnering with other lenders can be similar. You don’t know what you are going to get if you jump into partnerships without doing your due diligence and establishing alliances with the best partners.

  • Interagency Guidance for Financial Institutions on Coronavirus Disease-Related Loan Modifications

    On Sunday night, March 22, 2020, the federal banking agencies (OCC, FDIC, NCUA, Federal Reserve), the Consumer Financial Protection Bureau and the State Conference of Bank Supervisors issued an Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus.

  • Aaron Hughes Top 5 Invoice Finance Frauds

    Aaron Hughes looks at some of the ways directors might misuse their invoice finance facilities and how lenders can stem any potential losses. 

  • Buffey Klein Exploring Forbearance Issues in the Context of COVID-19

    The lightning-fast spread of COVID-19 around the world has quickly transformed our commercial and financial outlook, ending one of the longest economic expansions in U.S. history and throwing future prosperity into doubt. As conditions deteriorate from here, the likelihood that lenders will need to consider a forbearance is high, and as such, now is a good time to identify at-risk credit facilities and perform any necessary due diligence.

  • David Morse photo What a Lender Needs to Know: Key Loan Document Terms in a Time of Crisis

    As circumstances are moving rapidly, companies and their lenders are dealing with unprecedented times.  While companies try to determine the full impact of the current economic tailspin on their businesses, lenders are looking to understand their risks and how they can respond to them.

    The credit agreement sets out the rules of the road for the relationship between a company and its lenders.  In the list of credit agreement provisions set out below we attempt to provide a map for the secured lender for navigating those rules, anticipating where there may be bumps or wrong turns and providing some guidance for where a lender may go in the credit agreement to determine its path when confronted with a borrower in distress.

  • David Morse photo What a Lender Needs to Know: Key Loan Document Terms in a Time of Crisis

    As circumstances are moving rapidly, companies and their lenders are dealing with unprecedented times.  While companies try to determine the full impact of the current economic tailspin on their businesses, lenders are looking to understand their risks and how they can respond to them.

    The credit agreement sets out the rules of the road for the relationship between a company and its lenders.  In the list of credit agreement provisions set out below we attempt to provide a map for the secured lender for navigating those rules, anticipating where there may be bumps or wrong turns and providing some guidance for where a lender may go in the credit agreement to determine its path when confronted with a borrower in distress.

  • Juanita Schwartzkopf - Headshot150x150 Will the Coronavirus impact your borrowers?

    Do not underestimate the impact of the Coronavirus on a company’s Q1 and Q2 2020 financial results.  The supply chain issues are unknown, the potential economic slowdown is unknown, and the length of time the impact will be felt is unknown.

    This will certainly be a standard excuse for performance weakness that will be heard over the next year.  Be prepared!

    As a lender, which borrowers do you consider for impact, and what do you do to stay ahead of the problem?

  • Brian Boland Lender Alert: Commercial Finance Disclosure Legislation In New York State Merits Watching ​

    If passed, proposed New York State Senate Bill S5470 (“the Bill”) would impose a disclosure requirement upon certain New York commercial lenders. This proposal follows a trend exemplified most notably in California, which amended the California Financing Law to require licensed commercial lenders and brokers to issue new disclosures to commercial borrowers in that state, including loans made via an internet platform.

    The required disclosures of the Bill approximate those in the loan estimate form issued to home buyers by residential mortgage lenders under the federal Truth in Lending Act. The Bill has several exceptions, leaving much of the commercial lending community unaffected and placing substantial regulatory burdens on a narrow remaining segment

     

  • Rachel Hersh Vernon Francois: Prestige Capital Supports Entrepreneur’s Partnership with Sally Beauty

    Vernon Francois grew up in a Rastafarian household where the weekly tradition was having his hair braided every Sunday. The experience was so painful that he decided to learn how to braid hair himself, using carpets and window shade edges as practice.

    All that practice paid off. When he was just Vernon Francois grew up in a Rastafarian household where the weekly tradition was having his hair braided every Sunday. The experience was so painful that he decided to learn how to braid hair himself, using carpets and window shade edges as practice.

  • Myra Thomas Your Client’s Cybersecurity Threat Is Your Threat Too
    The specter of cybercrime haunts every industry, but none more so than financial services. If there is considerable money involved or sensitive client data to steal, then there is certainly some cybercriminal looking for a financial firm to target. As secured lenders step up their efforts to secure their own systems and data, there is a growing understanding of the complexity of that task. Asset-based lenders and factors are increasingly aware that their cybersecurity procedures must be ongoing and dynamic to thwart a network intrusion and to quickly shut down and mitigate a hack if it does happen.

Click on the link below to meet some of the “difference makers” in the secured finance community. This issue of The Secured Lender celebrates those who are having a profound impact on both their communities and their organizations. 

See Profiles


Previous TSL Articles

  • Walter_Schuppe_150x150 Financial Analysis - Getting Behind The Numbers

    Financial analysis is a cornerstone for any credit administration function.  Each loan officer must know his or her borrowers and thorough financial analysis is the best way to start.

    The goal of financial analysis is to link business events to changes in the balance sheet, income statement and cash flow to explain the company’s performance during the period under analysis.  Without this linkage you end up with “elevator analysis” (sales are up, AR is up, EBITDA is down, etc.) and no meaningful understanding of the company’s performance.

    Where do you start?  EBITDA is often a starting point for many people.  Why?  It is a standard measure of performance in the banking and finance industry.  EBITDA is a measure of the profitability generated by a business before interest expense, tax expense and depreciation and amortization expense.  While this gives the analyst a place to start and some ability to compare to comparable companies, EBITDA should not be viewed as a proxy for cash generation ability. 

  • David Morse photo The Main Street Lending Program: Can it Work with an Asset-Based Credit Facility?

    As the Secured Finance Network and its members have examined the Main Street Lending Program, there have been two aspects of the program in particular that have been identified as impacting on the utility of the program for borrowers from asset-based lenders. 

    Both points, along with some others, have been raised in letters from the Secured Finance Network to the Department of the Treasury and the Federal Reserve.  And the Secured Finance Network has followed up with specific questions to Treasury arising from the “Main Street Lending Program Frequently Asked Questions” published on July 31, 2020 by the Federal Reserve Bank of Boston (the “FAQs”) in understanding what is permitted under the Program that could significantly impact how it may be used with an asset-based facility.

  • SusanCarol_150x150 Takeaways from SFNet’s Women in Secured Finance Conference

    SFNet’s fourth annual Women in Secured Finance Conference attracted over 300 attendees for two days of inspiring (virtual) sessions featuring senior executives who shared their perspectives on leadership and communications while heading teams virtually and managing changes wrought by the COVID-19 Pandemic.

    The consensus: Workers will not be returning to how it was even after a viable vaccine for the COVID-19 virus becomes available. Many of the speakers – women in top management, who are accustomed to being in the office, travelling, and meeting face-to-face with teams and clients—spoke about remote work challenges. They also offered creative ideas to ensure employees feel embraced during this challenging time.

  • Jhoefler headshot_150x150 Flexible Workplace Arrangements – Attracting and Retaining Talent in the Current Environment

    The secured finance industry, just like so many others, has demanded that remote work become the “norm.” Will this change better enable the industry to attract and retain top talent?

  • Gibraltar Provides $20MM to Sponsor-Backed Seasonal Business

    Gibraltar prides itself on its ability to provide companies and their private equity sponsors with flexible financing and maximum liquidity, based on our ability to understand each business’ special situation. This enabled us recently to provide Texas-based Easy Gardener Products, Inc, a $20 million credit facility to help with a restructuring.

    Easy Gardener designs, manufactures, and sells a broad range of consumer lawn and garden products. It sells its products under several well-known patented and trademark brands such as WeedBlock, Jobe's, Emerald Edge, Landmaster, Ross, and Jobe’s Organics. Its customer base includes longstanding relationships over a 20- to 30-year period with a robust network of large national home improvement and mass merchant retailers as well as local hardware stores and independent garden centers and nurseries.

  • 6 Considerations when Planning for a COVID19 Business Restart

    By Jeff Wright

    With so much uncertainty in the economy during this unprecedented health crisis, planning and communication are critical to any company’s survival. Much is being said about preserving cash. And it’s because we all know cash will continue to be king even when businesses restart operations.
  • tiffany-dufu-headshot150_150 Interview with Tiffany Dufu, Keynote Speaker at SFNet's Women in Secured Finance Conference

    Tiffany Dufu will be a Keynote Speaker at SFNet’s virtual Women in Secured Finance conference July 29-30. For more information or to register, please click here

    Tiffany Dufu is founder and CEO of The Cru. Their algorithm matches circles of women who collaborate to meet their personal and professional goals. She’s also the author of the bestselling book Drop the Ball: Achieving More by Doing Less. According to the foreword contributor Gloria Steinem, Drop the Ball is “important, path-breaking, intimate and brave."

    Named to Fast Company’s League of Extraordinary Women, Tiffany has raised nearly $20 million toward the cause of women and girls. She was a launch team member to Lean In and was Chief Leadership Officer to Levo, one of the fastest growing millennial professional networks. Prior to that, Tiffany served as President of The White House Project, as a Major Gifts Officer at Simmons University, and as Associate Director of Development at Seattle Girls’ School.

     

  • Walter_Schuppe_150x150 Problem Loan? No Problem
    Economic cycles and the related recessions are always challenging for lenders to work through.  The current economic environment brought on by a pandemic is without precedent and it is hard to predict how businesses and the economy will react in both the short and long term.  It is unlikely any lender was prescient enough to have underwritten a pandemic as a risk.  We are all now working in unchartered territory as we await the effects of the pandemic to fully unfold.  Will there be a second outbreak?  Will there be a near-term recovery? How will the recovery look?  V-shaped or flat?  However, the basic principles for managing a problem loan all apply to the current environment.
  • OneWater Marine Inc. Announces a Successful Debt Refinancing

    The new credit facility consists of an $80 million term loan, with a $30 million undrawn revolver. It replaces OneWater’s former $110 million facility with Goldman Sachs Specialty Lending, which included a $10 million undrawn revolver. In addition, the new credit facility will maintain more flexible covenants and terms. OneWater has elected to use excess cash to make a significant paydown of the principal amount in conjunction with the refinancing. 

    Truist Bank acted as the sole administrative agent, collateral agent, swingline lender and issuing bank, while SunTrust Robinson Humphrey, Inc. and Synovus Bank acted as joint lead-arrangers and joint bookrunners. 

  • LibbyGill_150x150 Interview with Women in Secured Finance Conference Keynote Speaker Libby Gill

    Libby Gill is a leadership speaker, executive coach and author. She is also is the CEO of Libby Gill & Company, an executive coaching and leadership consulting firm, guiding clients and their teams through change, challenge and chaos. Previously, Gill was senior vice president at Universal Studios Television, and vice president at Sony Pictures Television and Turner Broadcasting.

    Libby is the author of five books, including the award-winning “You Unstuck, Capture the Mindshare and the Market Share Will Follow, and Traveling Hopefully. Her latest book is “The Hope-Driven Leader: Harness the Power of Positivity at Work.” She is a former columnist for The Dallas Morning News.