TSL Feature Articles
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Private Credit and ABL Partnerships Meet Middle-Market Challenges
Oct 1, 2025In this roundtable, executives share distinct perspectives on how asset-based lending and private credit intersect — revealing strategies that help strong businesses access capital, adapt to challenges, and continue moving forward.
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Bankruptcy Preference Risks to Secured Lenders Using Blocked Accounts: Why You Shouldn’t Sleep Comfortably at Night
Sep 29, 2025Outgoing lenders involved in payoff letters must navigate the hidden risks of preference liability, where payments may be clawed back by bankruptcy trustees. Nicolette Cohen of Buchalter explores how such risks can transform secured claims into unsecured ones and outlines key mitigation strategies to safeguard lender interests. -
Security Interests: They’re Only Half The Story
Sep 15, 2025In today’s competitive lending market, weakened loan structures and relaxed covenants have become the norm—leaving lenders with fewer safeguards when trouble arises. This article explores practical, asset-specific strategies to preserve collateral value and strengthen exit options, from inventory and receivables to real property and equity interests.
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Deep in the Heart of Texas
Sep 3, 2025Texas is quickly putting itself on the commercial finance map with recent new firms starting and a region that is clearly growing.
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Non-Loan Party Restricted Subsidiaries: A Key Pitfall
Aug 25, 2025Explore how Non-Loan Party Restricted Subsidiaries are reshaping the risk landscape for lenders. This article reveals how their EBITDA is often included in loan covenant calculations— despite not backing the debt—creating hidden vulnerabilities. Using real-world scenarios and the recent At Home transaction, it exposes the subtle, but serious, threats these subsidiaries pose, and why lenders must rethink their protections in today’s evolving market.
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Further Reflections on the Year of Elections – Where Are We Now?
Aug 20, 2025In a world where global politics and security seem to shift with every headline, understanding the forces behind today’s volatility is more crucial than ever. This article takes you inside the aftermath of 2024’s “Year of Elections,” exploring how voter pessimism, rising populism, and unpredictable leaders are redrawing the map of international risk. Discover why businesses and analysts alike must stay agile in this era of relentless change. -
Asset-based lending, or asset-backed lending? What is the difference, and why does it matter?
Jun 25, 2025The secured finance industry already knows the distinction between these two lending strategies. But these terms are often used interchangeably in public commentary, pitch materials, and industry conferences. If you are a capital allocator trying to capture the strengths of asset-based lending, or a regulator trying to understand what should be considered an asset-backed strategy, you have your work cut out for you.
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The Transformative Power of Servant Leadership in Modern Business
Discover how servant leadership is reshaping today’s business world. This article explores the core principles behind this transformative approach, shares real-world examples from top companies, and reveals why prioritizing the growth and well-being of your team can unlock extraordinary results. -
Where Are They Now? Catching up with Previous SFNet 40 Under 40 Award Winners
SFNet 40 Under 40 Award recipients share how the Award affected their careers and advice for the Class of 2025.
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5 YEARS LATER: Remote Work’s Enduring Impact on the Secured Finance Industry
Jun 9, 2025Five years after the COVID-19 lockdowns sparked a widespread shift to remote work, the secured finance industry is still exploring what “normal” looks like. In this in-depth article, leaders from across the sector share candid insights on productivity, culture, hiring, training, and communication in a post-pandemic world. From hybrid skeptics to fully remote advocates, their stories reveal the complexity—and opportunity—of evolving workplace models. -
SFNet Chapter Events Roundup
May 29, 2025SFNet has 18 local Chapters, offering the opportunity to connect you to the pulse of SFNet’s active communities across the country. While SFNet’s national conferences drive industry-wide dialogue, Chapter events let you dive into regional interests and challenges, providing opportunities to engage with peers who understand your market and build relationships that fuel growth.
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Forging the Future of Secured Finance: Highlights from SFNet’s 8th Emerging Leaders Summit
May 29, 2025SFNet's Emerging Leaders Summit was held in Boston, MA for the first time, April 30-May 1 and drew more than 150 attendees. The Summit, now in its 8th year, is a dynamic conference designed to unite professionals with 6-15 years of experience in secured finance, providing an unparalleled opportunity to gain insights from titans who have navigated the intricacies of the field. Attendees engaged in thought-provoking panels where industry luminaries offered a unique perspective on both the industry and effective leadership.
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Addressing Legal Challenges in Utilizing AI
May 27, 2025Since its 2022 release, ChatGPT has revolutionized industries, but its integration into legal and business operations raises critical concerns. This article explores pressing AI legal issues, such as compliance with evolving laws, data protection, and the consequences of AI errors in real-world applications. Understanding these concerns is essential for businesses to navigate AI adoption successfully.
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Inspiring the Next Generation: How the Secured Finance Foundation’s Guest Lecture Program and Martin I. Katz Scholarship Are Shaping Future Secured Finance Leaders
May 22, 2025Launched in 2019, SFFound’s Guest Lecture Program aims to educate and inspire young, diverse talent in the secured finance industry by introducing students to asset-based lending (ABL), factoring, and other secured lending disciplines.
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An Interview with Robert Love, Group Director of ABL at Flagstar Bank
May 16, 2025In this installment of our series of executive interviews, Charlie Perer sits with Bob Love, Asset-Based Lending (ABL) Group Director for Flagstar Bank, to hear his views about his new role at Flagstar Bank, bank vs. non-bank competition, the future of ABL, executive development and competition, among other things. -
Appraisers Assess the Impact of Tariffs, Economic Worry on Valuations
May 13, 2025The recent surge in U.S. tariffs and retaliatory measures from trading partners is reshaping the global economic landscape, leaving businesses and secured lenders grappling with uncertainty. From rising costs to shifting valuations, this article dives deep into the challenges posed by these sweeping changes
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Preparing for Tariff Impacts: Insights for Secured Lenders on Managing Customs Bond Challenges
May 1, 2025The global trade environment is facing a seismic shift with the imposition of new tariffs on imports from China, Mexico, and Canada—with reciprocal tariffs likely to follow. Historically, duty-free trade agreements under USMCA helped U.S. businesses optimize their supply chains. However, as of the reference point date of March 4, 2025 (tariffs are changing frequently), the United States has imposed tariffs that fluctuate frequently and could likely change at the time of article publication.
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Economic Outlook
Apr 14, 2025The announcement of new tariffs by President Trump marks the beginning of a critical and uncertain phase for the U.S. economy. While the full impact is still unfolding, early signs point to a significant economic slowdown, rising prices, and heightened inflation. -
Stronger Than Ever: Women, Work and the Power of Resilience
Mar 11, 2025Featuring insights from PNC’s Eileen Kowalski, Newpoint Advisors’ Carin Sorvik, Hilco’s Ervisa Ismailaj, and KPMG’s Andrea Beirne, this article delves into gender dynamics, and the hurdles women face in male-dominated sectors. Discover how these leaders have thrived and their perspectives on the progress—and remaining gaps—in achieving gender parity. -
The Role of Emotional Intelligence in Leadership:
Mar 7, 2025Learn from inspiring women executives who prove that empathy, active listening, and relationship-building aren’t just soft skills—they’re powerful strategies for business success, driving profitability, retention, and meaningful connections.
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.
Previous TSL Articles
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Collateral in a Volatile World
Apr 6, 2026
Oil, Private Credit Stress, and a Renewed Opportunity for Secured Finance
As the secured finance industry moves through 2026, lenders are operating in an environment shaped by two converging forces: renewed geopolitical instability driving energy price volatility, and emerging stress within the rapidly expanded private credit market. Together, these dynamics are reintroducing uncertainty into credit markets—and, in the process, reinforcing the value of collateral‑based lending structures.
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Reimagining Secured Finance: How AI and Automation Are Redefining the Industry
Mar 31, 2026
SFNet’s Reimagined: AI & Automation in Secured Finance is a new, one-day conference designed to explore how technologies are transforming asset-based lending and factoring today—and what comes next. Keynote Speaker, Nick Pericle, a technology expert and the founder of Tenexity, will have a hands-on demonstration using tools and AI prompts to help business leaders grasp and come away with real world solutions that can immediately be implemented to improve their company workflow.
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Don’t Open the Box: Takeaways from SFNet’s Supply Chain Conference
Mar 23, 2026Lessons from Fraud, Growth, and Even a Little “Green Eyeshade”
After a full and fast-paced day of sessions discussing fraud, lender diligence, and the now well-known First Brands situation, at SFNet’s Supply Chain Finance Convergence on March 3 in New York City, I couldn’t help but think about an unexpected cinematic analogy: Raiders of the Lost Ark. I do love movies, and I find it hard to believe that Raiders is now 45 years old. Goodness.
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The Power of Mentorship: A Conversation with Frank Grimaldi
Mar 2, 2026Prior to joining Gordon Brothers, Grimaldi was a vice president at Brevet Capital responsible for managing assets and originating investment opportunities. He was previously a vice president at CIT Group where he managed the commercial services workout group. At Gordon Brothers, he is responsible for developing and maintaining client relationships throughout North America.
Grimaldi will be honored with the National Jewish Health Humanitarian Award for his leadership in the community and financial industry at the National Jewish Health Financial Industries Dinner on March 3, at Cipriani in New York City. -
The Growing Impact of Supply Chain Finance: Insights from SFNet's 2025 Market Sizing Study
(Editor’s Note: As the supply chain finance landscape continues to evolve, the conversation doesn’t stop here. Continue it in person at Supply Chain Finance Convergence ’26, an SFNet event on March 3, 2026, at the Westin New York Grand Central. The authors of this article will be presenting on a panel exploring the convergence of ABL, factoring, and supply chain finance, along with the legal and risk considerations shaping the market.)
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What the Rescission of the 2013 Leveraged Lending Guidance Means
Feb 2, 2026
In December 2025, the Office of the Comptroller of the Currency and the FDIC withdrew the Leveraged Lending Guidance dating back to 2013. This withdrawal is a potentially significant event for banks, borrowers, and the broader credit markets. In this article, Elliot Ganz, LSTA’s head of advocacy, and Tess Virmani, LSTA’s EVP, deputy general counsel and head of Policy, discuss the background on the original guidance and the rationale for the withdrawal. They also discuss how the new principles-based supervision may reshape leveraged lending going forward.
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Immigration, Labor Markets, and Interest Rate Policy
Jan 22, 2026Talk of recession is growing, but the data tell a more complicated story. In this article, Jerry Nickelsburg—economist and adjunct professor at UCLA Anderson School of Management—examines labor market statistics, immigration policy, and history to unpack what policymakers are seeing, and whether today’s “weakness” truly warrants aggressive interest rate cuts.
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Receivables Purchase and Asset-Based Lending: Insights from First Brands: Part 2
Jan 14, 2026A lot has been written (and continues to be—proof positive right here) about the First Brands bankruptcy and its various elements. The complex debt structure of First Brands, mixed with the allegations of fraud, has led to a range of issues for lenders to consider. (EDITOR’s NOTE: SFNet’s Supply Chain Finance Convergence, which will be held in New York on March 3, will also cover recent prominent frauds as well as SFNet’s Fraud Task Force recommendations.)
Please click here to read the first part of this article, which was published in TSL Express on January 12-13, 2026. -
SFNet’s 81st Annual Conference: Innovations and Trends Shaping the Future
Dec 15, 2025SFNet’s 81st Annual Convention at the JW Marriott L.A. LIVE provided an opportunity for SFNet members to share insights on the shifting economy, swap playbooks, and begin charting what the next eighteen to twenty-four months may look like in secured finance. For lenders, advisors, attorneys, appraisers and service providers across the ecosystem, the Convention delivered what SFNet does best – networking, market intelligence and practical tools for navigating an increasingly complex environment. -
Opening Doors: How SFNet’s Guest Lecture Program Connects Students to Careers in Secured Finance
Dec 3, 2025Launched in 2019, SFNet’s Guest Lecture Program aims to educate and inspire young, diverse talent in the secured finance industry by introducing students to asset-based lending (ABL), factoring, and other secured lending disciplines.In support of this lecture series, the Secured Finance Foundation ("SFFound" or "Foundation") connects industry leaders to undergraduate and graduate finance students. Here, we sat with Jennifer Palmer, CEO, JPalmer Collective, and Sarah Walsh, credit analyst, JPalmer Collective, to discuss how SFNet’s Guest Lecture Program brought them together.
The Secured Lender
SFNet's Covention Issue
