TSL Feature Articles

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. 

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Previous TSL Articles

  • Mike Boudreau Receivership Strategy When Risk is Long and Time is Short
    Lenders are faced with difficult circumstances when a borrower’s business and the bank’s collateral is deteriorating.  The downward spiral often includes declining or negative earnings, insufficient cash flow, declining enterprise value, escalating trade debt and “tripped” financial covenants.  Further, management has not been able to reverse these negative trends and worse, have likely not been able to forecast these problems before they were reported. This will certainly erode trust between a borrower and their banker. When a lender is primarily concerned with protecting its collateral in a deteriorating situation, measuring alternative options can be considered relative to control, time, exposure and cost.

     

  • Rob Meyers photo It All Started With Key Lime Pie
    Rob Meyers discusses the growth of Republic Business Credit. Republic is expanding its national platform through a dual strategy of organic growth and complementary acquisitions that add new products, talent and geographic expansion.  Republic represents one of the largest entrepreneurial finance companies in the United States. 
  • Goldrich-150 Interview with North Mill Capital's Jeff Goldrich
    TSL Express caught up with Jeff Goldrich, president and CEO of North Mill Capital (NMC), on the lender’s recent acquisitions. North Mill Capital acquired two factoring companies in 2019: Sage Business Credit, a Minneapolis, MN-based factoring company and Salt Lake City, UT-based Summit Financial Resources, in June 2019. Goldrich discusses what the acquisitions mean for North Mill.
  • Ikhwan Rafeek_Otterbourg Interview with Ikhwan A. Rafeek of Otterbourg P.C.
    In January, Otterbourg P.C. announced that Ikhwan A. Rafeek had been promoted to Member of the Firm in the Banking and Finance Group. Rafeek represents institutional lenders, banks, commercial finance companies, and factors in connection with the documentation of domestic and international secured lending arrangements, including asset-based, factoring, term loan, healthcare, real estate, middle market, leveraged, and first and second lien loan transactions. 
  • Middle Market CFOs Making Bold Moves Despite Volatility – BDO Survey of 700 CFOs

    Middle market chief financial officers are facing widespread shifts—from trade wars to digital disruption—but they aren’t backing down from the challenge. According to BDO’s 2020 Middle Market CFO Outlook Survey, 56% of middle market CFOs expect a recession by 2021, but they are forecasting positive performance and forging ahead with growth plans.

  • Ken Wengrod, FTC Founded for Entrepreneurs By an Entrepreneur

    FTC Commercial Corporation was launched in 2002 with a strong focus on small and medium-size enterprise. Co-founder Ken Wengrod tapped into his experience, having worked in factoring and retail to create a company that understands the entire trade cycle of manufacturing and importing.

  • Aaron Hughes The SME Lending Landscape in 2020

    Aaron Hughes, Managing Director of Equiniti Riskfactor, a leading provider in the commercial finance industry, examines the SME lending market for the coming year and the importance of risk management to lenders.

  • The End of Libor Is a $12 Trillion Headache for Loan Bankers

    The whole financial world is working to move away from Libor and other interbank lending benchmarks, which for decades have been used to set borrowing costs on bonds and loans, as well as products ranging from derivatives to credit cards. Since 2018, more than $150 billion worth of bonds have been sold using rates set by a new generation of benchmarks. The syndicated loan market is lagging far behind, with at least $12 trillion of deals needing to be replaced or rewritten so they follow a Libor alternative. There are no easy fixes in sight despite potential deadlines as early as this year.

  • Dave Kucera, Capital One Lenders Think About Recession Readiness
    The head of Capital One’s Financial Institutions Group reviews the trends that lenders should be watching as we shift into 2020.
  • Thoughts on the Third Quarter 2019 Asset-Based Lending Index

    Q3 2019 results generally demonstrate the continuation of trends observed throughout 2019.  Year to date, we continue to have growth in the industry as a whole and credit quality remains solid.  There are a few notable deviations from trends observed throughout the year as we will see.

    General economic conditions continue to be top of mind for the secured finance community, but it is interesting to note that we continue to see a divergence between Bank and Non-Bank Lenders with respect to the SFNet Confidence Index. As a reminder, starting in 2019, we have chosen to divide the ABL lender universe along Bank and Non-Bank lines, as opposed to our previous methodology of splitting up the ABL lender universe by portfolio size.