TSL Feature Articles
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Fighting Misinformation: Don’t believe Everything You Read on the Internet
Borrowers face an uphill battle when conducting an internet search for capital. Lee Haskin of Crossroads Financial discusses the misinformation out there and offers clarifications concerning certain types of finance products.
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Chronic Problems in Cannabis Lending Navigating the Patchwork of Laws, Rulings and Regulations
The only constant in the cannabis industry is change. This article provides an overview of the latest developments and points out that lenders need a deep understanding of the inconsistent patchwork of laws and regulations and the continuing conflict of law between the states and the federal government before entering this space.
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Lenders Beware: Lender Liability
The past few years have seen strong liquidity in the marketplace coupled with unprecedented government support of certain borrowers; increased competition for secured transactions among banks and non-banks; and surprisingly fewer distressed transactions during the pandemic than would have been anticipated. As a result, lenders have not had to focus as much on managing distressed credits and the potential pitfalls and risks that are associated with them. As a few recent cases discussed below show, assertions of lender liability may arise in various contexts to an unsuspecting lender.
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Coming Into Focus - TSL Inaugural Data Issue
Jul 7, 2022Welcome to The Secured Lender’s first ever Industry Data Issue. Over the past several years, SFNet has invested heavily in data resources designed to improve planning, provide competitive benchmarking, and attract capital to our industry. Through resources like our groundbreaking Market Sizing and Impact Study, which dimensioned the secured finance ecosystem and will be refreshed this year, to our quarterly and annual data surveys, which continue to grow in participation, to our forward looking Market Pulse Reports, we have made great strides in capturing, analyzing, and predicting industry trends by the numbers.
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Diversity, Equity and Inclusion Are the Necessary Corporate Differentiators
A Moritt Hock & Hamroff partner discusses the potential legal implications for companies that are not committed to diversity and inclusion as increasing shareholder pressures and legal complaints mount.
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Stop Managing Your Time and Start Managing Your Energy
Dr. Arin N. Reeves, researcher, author, and leading advisor to many top executives, offers her advice on the energy deficit so many of us are experiencing.
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Where Are They Now? Catching up with prior SFNet 40 Under 40 Award winners
Jun 15, 2022From promotions to new jobs to starting their own advisory firms, award winners share their career advice and what they have learned.
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Can the Global Supply Chain Survive Global Political Disorder?
Jun 6, 2022The managing director of Global Torchlight, a geopolitical risk advisory firm, discusses the various reasons for the supply chain disruption and what we may expect in the future.
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When the Grass Isn’t Greener: How to Stay Where You Are and Ask for What You Want
We’ve all heard the phrase “The Great Resignation” over the past few months. Angela Fiorentino of AmeriFactors Financial Group and a member of SFNet’s Women in Secured Finance Committee gathered several top female executives to discuss the best way to communicate your professional goals and hold some of those “tough conversations” in this current climate.
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Shifting Gears: An Interview with Hilco Global’s Betsy Ratto
Apr 5, 2022Betsy Ratto is senior vice president of Hilco Capital Solutions: ReStore Capital and Hilco Corporate Finance, with responsibility to drive business for ReStore Capital and Hilco Corporate Finance. She is responsible for originating and executing corporate finance and capital markets transactions, with a focus on the retail industry and other financing transactions. She joined Hilco in fall 2021 and is based in Hilco’s Boston office.
Here, she discusses her goals at Hilco, challenges and opportunities in the retail sector, differentiating yourself at a non-bank platform, and lessons learned in leadership and career development. -
Leading the Way Forward: A Conversation with the Women of SFNet’s Management and Executive Committees
Apr 4, 2022
In 2010, only 19 women served on the SFNet Board of Directors, today there are 46. We’ve doubled the representation of women on the Executive Committee from three to six. Here, we speak with the six women who currently sit on SFNet’s Executive and Management Committees.
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Factoring Trends for 2022
Mar 14, 2022
What’s in fashion for factoring this coming spring? Quite a bit. This year’s trends show what we’ve all been keeping under wraps for the last two years, and we’ll be seeing some definite changes.
First up, a cascade of activity with more traditional bank lenders that retained customers during the pandemic based on regulatory allowances and readily available government funding may start pushing out underperforming loans. -
Interview with Bob Grbic, President & CEO of White Oak Commercial Finance and the Chair of SFNet’s Factoring Committee
Mar 10, 2022
Robert Grbic has more than 30 years of commercial lending experience. He has been with the company and its predecessor since 2005, previously serving as senior executive vice president and chief credit officer where he was involved in creating a hands-on, best-practices credit culture, as well as helping the Company expand its client portfolio.
Before that, Grbic was managing director at MorrisAnderson & Associates ltd., a turnaround-consulting firm. He also co-founded MetSource Capital, LLC, a restructuring and corporate finance firm, working primarily with small- and medium-sized companies. In addition, Grbic has also served at GMAC Commercial Credit, LLC, BNY Financial Corp and Bankers Trust. He has served as an instructor for the Finance, Tax and Law Department at the NYU School of Continuing Education. Grbic holds master’s and bachelor’s degrees in Business Administration from Pace University.
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Members of SFNet’s Factoring Committee Discuss Sources of Business, Supply Chain Issues and More
Mar 8, 2022
TSL’s editor-in-chief sat down with several members of the SFNet Factoring Committee to review the current landscape in early 2022. Participants include Carol Apicella, senior vice president, BankFinancial Government Finance; Tina Capobianco, senior vice president, J D Factors Corporation; Dan Karas, executive vice president, Allied Affiliated Funding; Kevin Laborde, president, Cash Flow Resources; and Paul Schuldiner, executive vice president & chief lending officer, Rosenthal & Rosenthal, Inc.
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Financial Forecasting in the Post-Pandemic World
Feb 28, 2022Executives from PKF Clear Thinking provide key points that both lenders and their borrowers need to be mindful of when preparing and reviewing 2022 and beyond business plans.
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An Interview with Tim Knight, Senior Managing Partner, ThinkingAhead
In this installment of our series of executive interviews, Charlie Perer sits with Tim Knight (pictured) to hear his perspective on executive development, advice for lenders, the growth in the non-bank market, what every executive should be thinking about, the importance of diversity and lessons learned, among other things.
Knight is the vice president and senior managing partner with ThinkingAhead where he is responsible for operations, training and recruiting for the firm. He also leads the partner group that heads up the firm’s Commercial Banking and Commercial Finance, Legal, Life Sciences and Security/Physical infrastructure search practices.
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Interview with SFNet President Peter B. York
Dec 7, 2021
Peter York is managing director and head of the Asset Based Lending (ABL) practice for the Corporate & Investment Bank of J.P. Morgan. He has been with J.P. Morgan for over 17 years and has more than 27 years of secured ABL experience. York’s strengths include large multibank syndicated financing, cross-border structuring, leveraged buyout finance, and bankruptcy and debtor-in-possession (DIP) financing.
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Is a Corporate Default Wave Ahead In 2022?
Nov 11, 2021
Some turnaround and M&A leaders are predicting the second quarter of 2022 could be when the “default boom” hits. Asset-based lenders, factors, and other secured lenders will need to be at the ready to handle turnaround deals.
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SFNet 2021 Advocacy Highlights
Nov 9, 2021The COVID pandemic pushed SFNet’s already active advocacy program into overdrive in 2020 and the past year has kept our advocacy volunteers just as busy. As we work to find the balance between economic health and personal well being, the SFNet team has had to quickly mobilize at times to respond to a diverse array of issues, from concerns around damaging flaws in the Economic Injury Disaster Loan (“EIDL”) program to the ongoing saga of state financial disclosure bills.
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How Diverse Teams Make Successful Companies
Nneoma Maduike of Otterbourg P.C. discusses the impact a diverse team can have on a company’s performance.
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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SFNet's International Lending Conference to Address Restructuring, Insolvency, M&A Market Review, Private Debt, and More in London
Apr 17, 2023
SFNet's International Lending Conference (ILC) brings together some of the most interesting players on the international lending scene for discussions and insights into what lies ahead. This year’s Conference will be held at DLA Piper Offices, May 9-11, 2023.
“War, energy crisis, high inflation, synchronized interest rate hikes and stagnation in China, should have pushed the European economy in a deep recession,” said economist and journalist, Dr. Mathijs Bouman, who will kick off the Conference. “But, the old continent is more resilient than many feared and the downturn could turn out to be shallow and short-lived. But new challenges lay ahead for European industries: the structurally tight labor market, trade and investment wars and fragmentation of the world economy and the rising costs of climate policy.”
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What’s in Fashion for Factoring, 2023
Apr 10, 2023
Last year was not the type of “cascade” we thought it would be – at all – as 2022 turned out to be more characterized by a surge of rising rate hikes and new concerns, versus a wave of new deals. Undeterred, we’re back this year to so see what could be infashion for factoring in 2023.
First on our list, the hot new color for this year – Viva Magenta!
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“Know Your Borrower” Now Has a New Lens
Mar 17, 2023Longstanding guidance to “know your borrower” is respected for good reason. The recent and unexpected upheaval in the banking and lending sector is triggering a renewed focus on financial risk management relating to borrowers and potential borrowers.
Banks and lenders need a clear understanding of the treasury-management function and risk-mitigation strategies employed by their borrowers and potential borrowers. As in previous challenging economic environments, the current uncertainty is an unpleasant, but beneficial, reminder to evaluate – or re-evaluate – these important functions and strategies. The Treasury Management Gap Analysis is an essential way to achieve this goal. -
Catching up with Abby Parsonnet, Head of Asset Based Lending at Webster Bank
Mar 13, 2023
Last Fall, Webster Bank announced that Abby Parsonnet was named executive managing director, head of Asset Based Lending (ABL) for Webster Bank. In her role, she oversees the nationwide Asset-Based Lending and Commercial Services teams at Webster, which also includes staffing solutions and factoring. She reports to Chris Motl, president of Commercial Banking.
As head of ABL, Parsonnet is responsible for continuing Webster’s strong tradition of excellence in delivering customized working capital solutions to middle- market clients and sponsors. She will lead a team of bankers based in strategic markets nationwide.
Here, Abby discusses her career, goals in her new role, how the merger with Sterling National Bank helped to expand Webster’s offerings, particularly in ABL and factoring, and more.
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The Rise of Seller Financing
Mar 8, 2023
In the coming months, be on the lookout for an increase in seller-financed mergers and acquisitions activity.
For the last several years, the small and midsized business segment was experiencing increasing purchase price multiples fueled by low interest rates and the available credit made possible by banks’ confidence in a robust economy. Owners of solid businesses – motivated by a desire to close deals before anticipated possible changes in the current tax code – staged auctions and entertained multiple competing all-cash offers. Buyers took advantage of easy credit and low rates to deploy a combination of debt and equity, with debt on the portion of a deal supported by commercial real estate often exceeding 70%.
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Wolters Kluwer’s Regulatory & Risk Management Indicator Survey Outlook
Feb 16, 2023
TSL Express’ senior editor sat down with Tim Burniston, senior advisor, Regulatory Strategy for Wolters Kluwer Compliance Solutions to discuss the results of Wolters Kluwer’s Regulatory & Risk Management Indicator Survey. Burniston advises the Wolters Kluwer Governance, Risk, and Compliance executive leadership team and clients on emerging issues, legislative and regulatory developments, and regulatory strategy.
Now in its tenth year, the Indicator “takes the pulse” of the U.S. banking industry and is based on 10 different factors: compliance, regulatory environmental and risk management factors. The Regulatory & Risk Management Indicator Survey was conducted between July 27-September 9, 2022, and received 328 responses. Survey respondents are primarily from smaller banks, savings and loan institutions and credit unions. Keeping pace with the volume, scope and breadth of regulatory changes topped the list of key concerns facing U.S. banks, credit unions, and other lenders. To learn more about the survey, click here.
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Review and Forecast with Capital One's Dave Kucera
Feb 1, 2023
As a leading authority and 25-year veteran of the investment and commercial banking sectors, Dave Kucera, head of Capital One’s Financial Institutions Group, sat with TSL Express’ senior editor to discuss best practices for managing market cycles. Including the commercial banking trends to watch out for in 2023 and key steps financial institutions can take to better navigate the current economic landscape.
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SFNet’s Asset-Based Capital Conference: Attendees Gear Up for “The Great Reboot”
Jan 9, 2023
Conference Aims to Set New Strategies for the New World
Now three years since the onset of the global pandemic, the asset-based capital market, like so many others, finds itself at a new beginning. While the economy and environment continue to shift, the asset-based capital community has taken uncertainty into account for its business plans as it marches into a new year. SFNet’s ABCC theme, “The Great Reboot,” is about setting new strategies for a new world.
“We’ve been able to bring together some of the best minds in the space to help us put these changes in context and offer practical implications for our business plans going forward,” Rich Gumbrecht, SFNet CEO, said. I don’t know if we’ve ever had a more august set of speakers. You’ll want to take good notes.” -
SFNet Reports Confidence in Asset-Based Lending Market
Dec 19, 2022
The third quarter saw continued confidence in the asset-based lending market, according to data released by the Secured Finance Network, and that was welcome news as the country wrestles with inflation, rising interest rates and a slowed economy.
SFNet surveyed bank and non-bank asset-based lenders (ABLs) on key indicators for its quarterly Asset-Based Lending Index and SFNet Confidence Index.
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SFNet Report on Confidence in Asset-Based Lending Market: Survey Shows Industry is Well Positioned to Weather a Recession
The third quarter saw continued confidence in the asset-based lending market, according to data released by the Secured Finance Network, and that was welcome news as the country wrestles with inflation, rising interest rates and a slowed economy.
SFNet surveyed bank and non-bank asset-based lenders (ABLs) on key indicators for its quarterly Asset-Based Lending Index and SFNet Confidence Index.
“Despite the challenges, the asset-based lending industry remains on solid footing,” said SFNet CEO Richard D. Gumbrecht. “Portfolio performance is strong by historical standards, commitments are up, and lenders anticipate strong demand. Overall, the industry is decently-positioned to weather worsening business conditions and a potential recession.”
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The Secured Lender
SFNet's The Women in Secured Finance Issue