TSL Feature Articles

Since the DEI “field” is a potpourri of research, advocacy, political ideations,
and personal perspectives from multiple fields, it is difficult for people to know which sources of information to trust. One of the latest urgent fascinations that has captured our collective attention is “DEI Fatigue.”

Industry ally and affinity group members and leaders share their stories and discuss how their organization’s groups began and their benefits.

How will reduced consumer spending and increased leverage cost stress manufacturing & industrial companies in the year ahead?

In an increasingly paperless world, electronic bills of lading are garnering attention as an industry choice for cross-border commercial and shipping transactions. This article provides an overview of the legal framework prescribed by Articles 7 and 9 of the Uniform Commercial Code for a secured lender seeking to perfect its security interest in electronic bills of lading.

The credit risk panel at SFNet’s 79th Annual Convention focused on challenges such as consumer headwinds, the higher cost of capital, looming refinancing deadlines, and the prospect of more downgrades, bankruptcies and defaults. Overall, though, panelists were optimistic about credit appetite and the ability to negotiate risk through tighter deal structures and more in-depth borrower and sector analytics.

TSL’s editor-in-chief sat down with key members of Holland & Knight’s ABL team, including Wade M. Kennedy, partner and co-lead of the Asset-Based Lending Team; Christopher S. Dillon, partner and co-lead of the Asset-Based Lending Team; Hamid Namazie, financial
services partner; Yoojin Lee, financial services partner; and Mark Spitzer, financial services partner. Here, they discuss H&K’s strengthening of its finance practice, how they got their start in this specialty and the threats facing lenders in 2024.

Despite economic headwinds and higher costs of borrowing, secured lenders are expecting a profitable year ahead

“Liability Management Transactions” continue to grab headlines. Companies in distress are turning to the out-of-court restructuring of their debt in ways that leave lenders who made loans on the basis of a senior secured position either with certain assets no longer available as collateral pursuant to a “drop down financing” or subordinate to new tranches of debt pursuant to an “uptiering transaction.” This article takes a look at the arguments being made in some of the litigation that has often followed on such uptiering transactions and in particular the June 2023 decision of the Bankruptcy Court in the Serta case.

Commodity producers face volatile market swings due to factors such as macroeconomics and supply chain stability, creating risks for secured lenders. Understanding each commodity’s nuances, risk-management strategies, and regulatory considerations is crucial. To navigate these challenges, secured lenders must maintain strong industry knowledge, adapt lending structures, collaborate with third parties, and balance risk and return for their clients.

Barry Bobrow is a managing director and head of credit markets for Regions Business Capital. He is a widely respected leader in middle-market leveraged finance and asset-based lending. He has spent the past 38 years working in banking, most of it as a debt capital markets professional, primarily in leveraged lending and supply chain finance. Bobrow is the creator and chairman of the Asset Based Capital Conference (ABCC), an SFNet sponsored conference focusing on the middle-market leveraged and asset-based markets, now in its 16th year. Here, Bobrow discusses his career trajectory, his outlook for the industry and his goals for SFNet in 2024. 

What are the credit needs and opportunities for today’s small-business owners? This article explores results from Pathward’s new survey. 

The capacity for a lender to take effective security over a changing pool of assets is of critical importance to the asset-based lending market. 

When a U.S. lawyer and a Dutch lawyer talk about anti-assignment clauses, each might misconstrue what the other is talking about. This is caused by differences in law. 

Courtney Jeans is executive managing director and head of Regions Business Capital. Jeans joined Regions Business Capital in January 2022. With nearly 30 years of experience in the financial services industry, his career has focused on lending activities within the middle-market and large corporate sectors in both banking and specialty finance, where he has held positions in business development, portfolio management and risk management.

Government contractors’ performance and lending requirements can change with the slightest turn due to financial regulations, acts of nature and geopolitical occurrences. Knowing you are secure in lending to, or financing, government contractors starts here.

Factoring for trucking companies and brokerages has skyrocketed in the last 10 years. An estimate on factoring company purchases is $90 billion annually. There are about 250,000 active for-hire carriers with 96 percent having six trucks or less. Factoring remains a necessary and viable tool for smaller carriers who have limited access to bank lines of credit or asset-based lenders. The transportation factoring company fills this void through the built-in elasticity of its offering – helping companies expand when the transportation industry is booming and sustain business when the industry is down. 

In May of 2022, when the author became CEO of Access Capital, the Company already had a long history of being a leading non-bank lender to the staffing industry. In this article, written with the help of Raphael Torres, head of business development, and Jessica Sanchez, director of marketing, Terry Keating will share some thoughts about the industry that he has learned through his journey over the past 18 months.

Healthcare is an industry that is constantly changing. Lenders wishing to lend into the space need to develop expertise pertaining to the unique financial needs and challenges of the sector. This article explores the opportunities to lend into this space.

The UK Government announced 11^th July 2019, through the publication of the Draft Finance Bill, that it is going ahead with the reinstatement of Crown Preference in respect of VAT and PAYE.

PNC Bank, National Association, announced the closing of a $90 million senior secured credit facility for Iconex LLC (Iconex), a portfolio company of Greenwich, CT-based Atlas Holdings. PNC’s facility was provided in conjunction with a $67.5 million term loan and a $30 million delayed draw term loan provided by Cerberus Business Finance.

Marco's co-founders discuss their backgrounds, Marco's success to date and future goals.

Robyn Barrett is the SVP, managing director of Oxford Commercial Finance (“OCF”). OCF offers factoring and asset-based lending lines of credit to small to mid-sized to access the capital needed to grow. 

The landscape of corporate lending in the United States is dynamic, characterized by a diverse array of borrowers spanning various industries and a multitude of loan products and lenders vying for business. In recent years, economic fluctuations and shifting market dynamics have significantly influenced lending trends, impacting both borrowers and lenders alike. As we look ahead to 2024, it is essential to analyze current trends and anticipate future developments in the corporate lending landscape.

SFNet's Emerging Leaders Summit, a dynamic conference designed to unite professionals with 6-15 years of experience in secured lending, is heading to the West Coast for the first time since its inception in 2018. The event will provide an opportunity to glean insights from seasoned titans who have navigated the intricacies of the field. Attendees can expect to engage in thought-provoking panels where industry luminaries will offer a unique perspective on both the industry and effective leadership.

In this article, we discuss how leading, managing, and operating a business with a focus on growth and development but with profits and cash flow is far different than driving interesting research and development (R&D) and engineering activities; and how a company should deal with these challenges as they evolve.

TSL’s editor-in-chief explores the transformative power of cross-gender mentorship, especially in a male-dominated industry where there might be a shortage of female mentors. Read on for stories of female leaders who had male mentors and how they played pivotal roles in advancing their careers, dismantling biases, and cultivating inclusive workplaces.

In this installment of our series of executive interviews, Charlie Perer sits with Bobby Bans to hear his views about his new role at Wells Fargo Capital Finance, the future of ABL, executive development and competition, among other things.

In June 2023, First Citizens Bank named noted commercial banking executive Jim Hudak as president of its Commercial Finance group, which it acquired in its merger with CIT Group in early 2022.

With more than 20 years as a commercial finance executive, Hudak is known throughout the industry for his leadership capabilities and strong commitment to client support and satisfaction.

Hudak oversaw CIT's commercial finance businesses from 2008 to 2019, during which time many grew to become leading lenders in their industry verticals.

Today, settled back into an expanded version of the role he once occupied, he discusses the state of the business, the impact of the First Citizens merger and his strategy for 2024 and beyond.

SFNet’s Asset-Based Capital Conference (ABCC), now in its 16^th year, was held February 6-7 in Las Vegas. Attendees experienced thought-provoking discussions on the economy, geopolitics, talent retention, credit quality and industry dynamics.