• Access Capital, Inc., Announces Raphael Torres as Senior Vice President, Head of Business Development
    Feb 2, 2023
    Access Capital, Inc., the nation’s leading independent lender to the staffing industry, is thrilled to share that Raphael Torres of Fort Lauderdale has joined the team as Senior Vice President and Head of Business Development.

    Named a Forty Under Forty designee by SFNet in 2018, Raphael’s experience in asset-based lending spans over two decades. During his career at Wells Fargo, he headed the team responsible for providing financial solutions to the Staffing, Government Contracting, and Transportation industries, growing the portfolio to over $1B in outstanding loans and $2.7B in commitments.
  • FirstBank_Maiorino_150 Michael Maiorino to Lead New Asset-Based Lending Group at First Bank
    Feb 1, 2023

    Hamilton, NJ-based First Bank has opened a new specialty financing group that will provide more options for business owners and entrepreneurs today. Michael Maiorino will head the asset-based lending unit as president.

    Maiorino has worked in specialty financing since the 1980s, building out similar businesses for several banks. He has held positions as executive vice president and president of People’s United Business Capital, executive vice president and division president of Sovereign Business Capital, as well as division president at Fleet Capital, which is now Bank of America Business Capital, responsible for the business finance division.

  • Dave Kucera, Capital One 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. 


  • MidCap Financial Closes $15 Million Senior Revolving Credit Facility to Kewaunee
    Jan 31, 2023
    MidCap Financial, a leading commercial finance company focused on middle market transactions, today announced it has provided a $15mm senior revolving credit facility to Kewaunee Scientific Corporation (“Kewaunee,” “Kewaunee Scientific,” or “Company”). The MidCap Financial credit facility includes an uncommitted option to increase the total facility size up to $30mm. Proceeds from the MidCap Financial credit facility will be used to support working capital requirements.
  • Rosenthal Closes Two Seven-Figure International Factoring Deals
    Jan 31, 2023
    Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending, purchase order financing, d2c and e-commerce inventory financing firm in the United States, today announced the completion of a pair of factoring transactions, including a $1.75MM domestic and international non-recourse factoring deal for a leading manufacturer of antimicrobial products and a $1.5MM non-recourse factoring deal for a wholesale premium seafood distributor.
  • Eileen Wubbe 150x150 Factors: Prepared for Uncertainty Ahead
    Jan 30, 2023

    Factors discuss what surprised them in 2022, California’s disclosure laws, rising interest rates, the move from ABL to factoring and what they expect 2023 will bring.

  • Mountain Ridge Capital and Great Rock Capital Team Up to Provide $75 Million Revolving Credit Facility for HOP Energy

    Mountain Ridge Capital (“Mountain Ridge”) and Great Rock Capital (“Great Rock”), today jointly announced the closing of a senior secured credit facility for HOP Energy, LLC (“HOP”).  Founded in 1995 and headquartered in White Plains, NY, HOP Energy is a market-leading home services provider serving ~90,000 customers across two primary areas:  distribution of home heating oil and the installation and servicing of HVAC systems, heat pumps, and other critical non-discretionary home services.  HOP Energy is majority-owned by Delos Capital.

  • SLR Credit Solutions Provides $30 Million Term Loan to Nautilus, Inc.
    Jan 26, 2023
    Nautilus, Inc., a fitness solutions company, designs, develops, sources, and markets cardio and strength fitness products, and related accessories for consumer and commercial use in the United States, Canada, Europe, the Middle East, Africa, and internationally.

    SLR Credit Solutions provided a $30,000,000 split lien term loan secured by all non-working capital assets of Nautilus. The incremental liquidity was created by (i) lending deeper into the domestic working capital assets (2nd lien), (ii) leveraging certain foreign jurisdictions (1st lien) and (iii) leveraging the value of the Company’s intellectual property / brand value (1st lien).
  • Hilco-MikeDwyer-150 Hilco Merchant Resources Announces Addition of Mike Dwyer as Executive Vice President – Head of Operations
    Jan 25, 2023
    Hilco Merchant Resources is excited to announce the addition of Mike Dwyer to the team. Mr. Dwyer will serve as Executive Vice President, Head of Operations with a focus on the implementation, management, and execution of all deal-related functions and operating goals for the group. Mr. Dwyer has 18 years of retail experience and over 21 years of experience leading operations teams.
  • Eclipse Business Capital Provides $28.5MM To Support the Acquisition of Flooring Products Distributor
    Jan 24, 2023
    Eclipse Business Capital LLC (“EBC”) announced today that it has provided a $28.5 million senior secured credit facility to support the acquisition of a flooring products distributor. The transaction included a $25mm revolving line of credit and a $3.5mm machinery & equipment term loan that are secured by accounts receivable, inventory, and machinery and equipment. The proceeds will be used to fund the acquisition and support working capital.
  • TSL0123_WorkoutArt Three Keys to a Successful Workout
    Given the relatively low levels of outstanding loan balances and the macro-economic environment over the past couple of years, the number of borrowers/loans that have ended up going into ‘workout’ have been few and far between. PKF Clear Thinking executives provide details on what is needed for a workout to succeed for both lender and borrower
  • Huntington Business Credit Closes $16 Million in New Credit Facilities With Polymerica Limited Company & Subsidiaries
    Jan 23, 2023
    Huntington Business Credit announced it closed $16,000,000 in new credit facilities with Polymerica Limited Company & Subsidiaries on December 8, 2022. Proceeds of the facility were used to refinance existing debt, support a partial recapitalization of the Company, and provide ongoing working capital financing.
  • U.S. Bank Adds Guillaume Mascotto as Head of Sustainable Finance
    Jan 23, 2023
    U.S. Bank announces the hire of Guillaume Mascotto as the company’s head of Sustainable Finance. In this new leadership role, Mascotto will build and lead a new team focused on identifying sustainable finance opportunities across the entire enterprise. Based in New York, Mascotto is part of the U.S. Bancorp Community Development Corporation (USBCDC) leadership team reporting to its CEO, Zack Boyers.
  • Otterbourg Promotes James Cretella to Chairman of The Finance Department
    Jan 19, 2023

    Otterbourg P.C. announced today that James Cretella has been named Chairman of the Firm’s Finance Department.

    A career member of Otterbourg’s Finance Department, Mr. Cretella represents institutional lenders, factoring companies and specialty lenders, as well as borrowers, in a variety of asset-based lending, specialty finance and other corporate transactions. In 2021, he was named Chair of the Alternative and Specialty Finance practice group.

  • Cambridge Savings Bank Supports Cascade School Supplies with $8.8 Million Credit Facility to Support Growth and Infrastructure Improvements
    Jan 19, 2023
    Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and $6 billion in assets, today announced that its Asset-Based Lending team provided an $8.8 million credit facility to Cascade School Supplies. Based in North Adams, MA, Cascade retails a wide range of educational materials to public schools in the Northeast, while also meeting the office supplies and furniture needs of various other organizations.
  • Siena Lending Group LLC and Great Rock Capital Arrange $100 Million Senior Secured Credit Facility with SkyWater Technology
    Jan 17, 2023

    Siena Lending Group LLC ("Siena") and Great Rock Capital (“Great Rock”) jointly announce today the closing of a $100 million senior secured credit facility with SkyWater Technology (“SkyWater”), a publicly traded company with a majority ownership by Oxbow Industries.

    SkyWater, headquartered in Bloomington, MN, is the most advanced domestically owned and based Trusted Foundry, serving the needs of the U.S. government as well as other commercial applications. 

  • SethBenefield_150 Interview with Bank of America’s Seth Benefield
    In this installment of our series of executive interviews, Charlie Perer sits with Seth Benefield, head of Bank of America Business Capital and Asset-Based Financing, to hear his perspective on the state of the ABL market, challenges of running one of the biggest ABL groups, ABL as a product or business, leadership and competition, among other things.
  • Werner Expands Borrowing Capacity with $1B Credit Facility as it Eyes Acquisitions
    Jan 17, 2023

    Werner Enterprises entered into a more than $1 billion credit facility on Dec. 20, with the proceeds to be used for working capital, acquisitions and other investments.

    The new credit agreement replaces two $300 million credit facilities and a $100 million loan, according to a securities filing, collectively rolling over $585 million of the carrier’s outstanding debt.

  • Snowden Lane Partners Secures $100 Million Credit Facility
    Jan 12, 2023

    Snowden Lane Partners, an independent, advisor-owned, wealth advisory firm dedicated to providing client-focused advice in a values-driven culture, together with Snowden Lane’s private equity partner, Estancia Capital Partners (“Estancia”), today announced that Snowden Lane secured a new $100 million credit facility.

    The new facility replaces a facility originally secured with ORIX Corporation in 2018 and subsequently expanded in early 2022. The $100 million of available credit will enable Snowden Lane to significantly bolster its recruiting momentum and position itself for sustained growth through 2023 and beyond.

  • First Citizens Middle Market Banking Provides Up to $65.8 Million for Morningstar Properties Affiliates
    Jan 11, 2023

    First Citizens Bank today announced that its Middle Market Banking business provided a total of $65.8 million in senior secured financing for affiliates of Morningstar Properties, a leading investor in and operator of self-storage facilities, marinas, and other specialty real estate assets.

    The financing was used for Morningstar’s acquisition of three new self-storage properties that will operate under the brand name Morningstar Storage.

  • Access Capital, Inc., Announces Raphael Torres as Senior Vice President, Head of Business Development
    Feb 2, 2023
    Access Capital, Inc., the nation’s leading independent lender to the staffing industry, is thrilled to share that Raphael Torres of Fort Lauderdale has joined the team as Senior Vice President and Head of Business Development.

    Named a Forty Under Forty designee by SFNet in 2018, Raphael’s experience in asset-based lending spans over two decades. During his career at Wells Fargo, he headed the team responsible for providing financial solutions to the Staffing, Government Contracting, and Transportation industries, growing the portfolio to over $1B in outstanding loans and $2.7B in commitments.
  • FirstBank_Maiorino_150 Michael Maiorino to Lead New Asset-Based Lending Group at First Bank
    Feb 1, 2023

    Hamilton, NJ-based First Bank has opened a new specialty financing group that will provide more options for business owners and entrepreneurs today. Michael Maiorino will head the asset-based lending unit as president.

    Maiorino has worked in specialty financing since the 1980s, building out similar businesses for several banks. He has held positions as executive vice president and president of People’s United Business Capital, executive vice president and division president of Sovereign Business Capital, as well as division president at Fleet Capital, which is now Bank of America Business Capital, responsible for the business finance division.

  • Dave Kucera, Capital One 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. 


  • MidCap Financial Closes $15 Million Senior Revolving Credit Facility to Kewaunee
    Jan 31, 2023
    MidCap Financial, a leading commercial finance company focused on middle market transactions, today announced it has provided a $15mm senior revolving credit facility to Kewaunee Scientific Corporation (“Kewaunee,” “Kewaunee Scientific,” or “Company”). The MidCap Financial credit facility includes an uncommitted option to increase the total facility size up to $30mm. Proceeds from the MidCap Financial credit facility will be used to support working capital requirements.
  • Rosenthal Closes Two Seven-Figure International Factoring Deals
    Jan 31, 2023
    Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending, purchase order financing, d2c and e-commerce inventory financing firm in the United States, today announced the completion of a pair of factoring transactions, including a $1.75MM domestic and international non-recourse factoring deal for a leading manufacturer of antimicrobial products and a $1.5MM non-recourse factoring deal for a wholesale premium seafood distributor.
  • Eileen Wubbe 150x150 Factors: Prepared for Uncertainty Ahead
    Jan 30, 2023

    Factors discuss what surprised them in 2022, California’s disclosure laws, rising interest rates, the move from ABL to factoring and what they expect 2023 will bring.

  • Mountain Ridge Capital and Great Rock Capital Team Up to Provide $75 Million Revolving Credit Facility for HOP Energy

    Mountain Ridge Capital (“Mountain Ridge”) and Great Rock Capital (“Great Rock”), today jointly announced the closing of a senior secured credit facility for HOP Energy, LLC (“HOP”).  Founded in 1995 and headquartered in White Plains, NY, HOP Energy is a market-leading home services provider serving ~90,000 customers across two primary areas:  distribution of home heating oil and the installation and servicing of HVAC systems, heat pumps, and other critical non-discretionary home services.  HOP Energy is majority-owned by Delos Capital.

  • SLR Credit Solutions Provides $30 Million Term Loan to Nautilus, Inc.
    Jan 26, 2023
    Nautilus, Inc., a fitness solutions company, designs, develops, sources, and markets cardio and strength fitness products, and related accessories for consumer and commercial use in the United States, Canada, Europe, the Middle East, Africa, and internationally.

    SLR Credit Solutions provided a $30,000,000 split lien term loan secured by all non-working capital assets of Nautilus. The incremental liquidity was created by (i) lending deeper into the domestic working capital assets (2nd lien), (ii) leveraging certain foreign jurisdictions (1st lien) and (iii) leveraging the value of the Company’s intellectual property / brand value (1st lien).
  • Hilco-MikeDwyer-150 Hilco Merchant Resources Announces Addition of Mike Dwyer as Executive Vice President – Head of Operations
    Jan 25, 2023
    Hilco Merchant Resources is excited to announce the addition of Mike Dwyer to the team. Mr. Dwyer will serve as Executive Vice President, Head of Operations with a focus on the implementation, management, and execution of all deal-related functions and operating goals for the group. Mr. Dwyer has 18 years of retail experience and over 21 years of experience leading operations teams.
  • Eclipse Business Capital Provides $28.5MM To Support the Acquisition of Flooring Products Distributor
    Jan 24, 2023
    Eclipse Business Capital LLC (“EBC”) announced today that it has provided a $28.5 million senior secured credit facility to support the acquisition of a flooring products distributor. The transaction included a $25mm revolving line of credit and a $3.5mm machinery & equipment term loan that are secured by accounts receivable, inventory, and machinery and equipment. The proceeds will be used to fund the acquisition and support working capital.
  • TSL0123_WorkoutArt Three Keys to a Successful Workout
    Given the relatively low levels of outstanding loan balances and the macro-economic environment over the past couple of years, the number of borrowers/loans that have ended up going into ‘workout’ have been few and far between. PKF Clear Thinking executives provide details on what is needed for a workout to succeed for both lender and borrower
  • Huntington Business Credit Closes $16 Million in New Credit Facilities With Polymerica Limited Company & Subsidiaries
    Jan 23, 2023
    Huntington Business Credit announced it closed $16,000,000 in new credit facilities with Polymerica Limited Company & Subsidiaries on December 8, 2022. Proceeds of the facility were used to refinance existing debt, support a partial recapitalization of the Company, and provide ongoing working capital financing.
  • U.S. Bank Adds Guillaume Mascotto as Head of Sustainable Finance
    Jan 23, 2023
    U.S. Bank announces the hire of Guillaume Mascotto as the company’s head of Sustainable Finance. In this new leadership role, Mascotto will build and lead a new team focused on identifying sustainable finance opportunities across the entire enterprise. Based in New York, Mascotto is part of the U.S. Bancorp Community Development Corporation (USBCDC) leadership team reporting to its CEO, Zack Boyers.
  • Otterbourg Promotes James Cretella to Chairman of The Finance Department
    Jan 19, 2023

    Otterbourg P.C. announced today that James Cretella has been named Chairman of the Firm’s Finance Department.

    A career member of Otterbourg’s Finance Department, Mr. Cretella represents institutional lenders, factoring companies and specialty lenders, as well as borrowers, in a variety of asset-based lending, specialty finance and other corporate transactions. In 2021, he was named Chair of the Alternative and Specialty Finance practice group.

  • Cambridge Savings Bank Supports Cascade School Supplies with $8.8 Million Credit Facility to Support Growth and Infrastructure Improvements
    Jan 19, 2023
    Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and $6 billion in assets, today announced that its Asset-Based Lending team provided an $8.8 million credit facility to Cascade School Supplies. Based in North Adams, MA, Cascade retails a wide range of educational materials to public schools in the Northeast, while also meeting the office supplies and furniture needs of various other organizations.
  • Siena Lending Group LLC and Great Rock Capital Arrange $100 Million Senior Secured Credit Facility with SkyWater Technology
    Jan 17, 2023

    Siena Lending Group LLC ("Siena") and Great Rock Capital (“Great Rock”) jointly announce today the closing of a $100 million senior secured credit facility with SkyWater Technology (“SkyWater”), a publicly traded company with a majority ownership by Oxbow Industries.

    SkyWater, headquartered in Bloomington, MN, is the most advanced domestically owned and based Trusted Foundry, serving the needs of the U.S. government as well as other commercial applications. 

  • SethBenefield_150 Interview with Bank of America’s Seth Benefield
    In this installment of our series of executive interviews, Charlie Perer sits with Seth Benefield, head of Bank of America Business Capital and Asset-Based Financing, to hear his perspective on the state of the ABL market, challenges of running one of the biggest ABL groups, ABL as a product or business, leadership and competition, among other things.
  • Werner Expands Borrowing Capacity with $1B Credit Facility as it Eyes Acquisitions
    Jan 17, 2023

    Werner Enterprises entered into a more than $1 billion credit facility on Dec. 20, with the proceeds to be used for working capital, acquisitions and other investments.

    The new credit agreement replaces two $300 million credit facilities and a $100 million loan, according to a securities filing, collectively rolling over $585 million of the carrier’s outstanding debt.

  • Snowden Lane Partners Secures $100 Million Credit Facility
    Jan 12, 2023

    Snowden Lane Partners, an independent, advisor-owned, wealth advisory firm dedicated to providing client-focused advice in a values-driven culture, together with Snowden Lane’s private equity partner, Estancia Capital Partners (“Estancia”), today announced that Snowden Lane secured a new $100 million credit facility.

    The new facility replaces a facility originally secured with ORIX Corporation in 2018 and subsequently expanded in early 2022. The $100 million of available credit will enable Snowden Lane to significantly bolster its recruiting momentum and position itself for sustained growth through 2023 and beyond.

  • First Citizens Middle Market Banking Provides Up to $65.8 Million for Morningstar Properties Affiliates
    Jan 11, 2023

    First Citizens Bank today announced that its Middle Market Banking business provided a total of $65.8 million in senior secured financing for affiliates of Morningstar Properties, a leading investor in and operator of self-storage facilities, marinas, and other specialty real estate assets.

    The financing was used for Morningstar’s acquisition of three new self-storage properties that will operate under the brand name Morningstar Storage.

300x250_GenComm_Static_2
  • Access Capital, Inc., Announces Raphael Torres as Senior Vice President, Head of Business Development
    Feb 2, 2023
    Access Capital, Inc., the nation’s leading independent lender to the staffing industry, is thrilled to share that Raphael Torres of Fort Lauderdale has joined the team as Senior Vice President and Head of Business Development.

    Named a Forty Under Forty designee by SFNet in 2018, Raphael’s experience in asset-based lending spans over two decades. During his career at Wells Fargo, he headed the team responsible for providing financial solutions to the Staffing, Government Contracting, and Transportation industries, growing the portfolio to over $1B in outstanding loans and $2.7B in commitments.
  • FirstBank_Maiorino_150 Michael Maiorino to Lead New Asset-Based Lending Group at First Bank
    Feb 1, 2023

    Hamilton, NJ-based First Bank has opened a new specialty financing group that will provide more options for business owners and entrepreneurs today. Michael Maiorino will head the asset-based lending unit as president.

    Maiorino has worked in specialty financing since the 1980s, building out similar businesses for several banks. He has held positions as executive vice president and president of People’s United Business Capital, executive vice president and division president of Sovereign Business Capital, as well as division president at Fleet Capital, which is now Bank of America Business Capital, responsible for the business finance division.

  • Dave Kucera, Capital One 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. 


  • MidCap Financial Closes $15 Million Senior Revolving Credit Facility to Kewaunee
    Jan 31, 2023
    MidCap Financial, a leading commercial finance company focused on middle market transactions, today announced it has provided a $15mm senior revolving credit facility to Kewaunee Scientific Corporation (“Kewaunee,” “Kewaunee Scientific,” or “Company”). The MidCap Financial credit facility includes an uncommitted option to increase the total facility size up to $30mm. Proceeds from the MidCap Financial credit facility will be used to support working capital requirements.
  • Rosenthal Closes Two Seven-Figure International Factoring Deals
    Jan 31, 2023
    Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending, purchase order financing, d2c and e-commerce inventory financing firm in the United States, today announced the completion of a pair of factoring transactions, including a $1.75MM domestic and international non-recourse factoring deal for a leading manufacturer of antimicrobial products and a $1.5MM non-recourse factoring deal for a wholesale premium seafood distributor.
  • Eileen Wubbe 150x150 Factors: Prepared for Uncertainty Ahead
    Jan 30, 2023

    Factors discuss what surprised them in 2022, California’s disclosure laws, rising interest rates, the move from ABL to factoring and what they expect 2023 will bring.

  • Mountain Ridge Capital and Great Rock Capital Team Up to Provide $75 Million Revolving Credit Facility for HOP Energy

    Mountain Ridge Capital (“Mountain Ridge”) and Great Rock Capital (“Great Rock”), today jointly announced the closing of a senior secured credit facility for HOP Energy, LLC (“HOP”).  Founded in 1995 and headquartered in White Plains, NY, HOP Energy is a market-leading home services provider serving ~90,000 customers across two primary areas:  distribution of home heating oil and the installation and servicing of HVAC systems, heat pumps, and other critical non-discretionary home services.  HOP Energy is majority-owned by Delos Capital.

  • SLR Credit Solutions Provides $30 Million Term Loan to Nautilus, Inc.
    Jan 26, 2023
    Nautilus, Inc., a fitness solutions company, designs, develops, sources, and markets cardio and strength fitness products, and related accessories for consumer and commercial use in the United States, Canada, Europe, the Middle East, Africa, and internationally.

    SLR Credit Solutions provided a $30,000,000 split lien term loan secured by all non-working capital assets of Nautilus. The incremental liquidity was created by (i) lending deeper into the domestic working capital assets (2nd lien), (ii) leveraging certain foreign jurisdictions (1st lien) and (iii) leveraging the value of the Company’s intellectual property / brand value (1st lien).
  • Hilco-MikeDwyer-150 Hilco Merchant Resources Announces Addition of Mike Dwyer as Executive Vice President – Head of Operations
    Jan 25, 2023
    Hilco Merchant Resources is excited to announce the addition of Mike Dwyer to the team. Mr. Dwyer will serve as Executive Vice President, Head of Operations with a focus on the implementation, management, and execution of all deal-related functions and operating goals for the group. Mr. Dwyer has 18 years of retail experience and over 21 years of experience leading operations teams.
  • Eclipse Business Capital Provides $28.5MM To Support the Acquisition of Flooring Products Distributor
    Jan 24, 2023
    Eclipse Business Capital LLC (“EBC”) announced today that it has provided a $28.5 million senior secured credit facility to support the acquisition of a flooring products distributor. The transaction included a $25mm revolving line of credit and a $3.5mm machinery & equipment term loan that are secured by accounts receivable, inventory, and machinery and equipment. The proceeds will be used to fund the acquisition and support working capital.
  • TSL0123_WorkoutArt Three Keys to a Successful Workout
    Given the relatively low levels of outstanding loan balances and the macro-economic environment over the past couple of years, the number of borrowers/loans that have ended up going into ‘workout’ have been few and far between. PKF Clear Thinking executives provide details on what is needed for a workout to succeed for both lender and borrower
  • Huntington Business Credit Closes $16 Million in New Credit Facilities With Polymerica Limited Company & Subsidiaries
    Jan 23, 2023
    Huntington Business Credit announced it closed $16,000,000 in new credit facilities with Polymerica Limited Company & Subsidiaries on December 8, 2022. Proceeds of the facility were used to refinance existing debt, support a partial recapitalization of the Company, and provide ongoing working capital financing.
  • U.S. Bank Adds Guillaume Mascotto as Head of Sustainable Finance
    Jan 23, 2023
    U.S. Bank announces the hire of Guillaume Mascotto as the company’s head of Sustainable Finance. In this new leadership role, Mascotto will build and lead a new team focused on identifying sustainable finance opportunities across the entire enterprise. Based in New York, Mascotto is part of the U.S. Bancorp Community Development Corporation (USBCDC) leadership team reporting to its CEO, Zack Boyers.
  • Otterbourg Promotes James Cretella to Chairman of The Finance Department
    Jan 19, 2023

    Otterbourg P.C. announced today that James Cretella has been named Chairman of the Firm’s Finance Department.

    A career member of Otterbourg’s Finance Department, Mr. Cretella represents institutional lenders, factoring companies and specialty lenders, as well as borrowers, in a variety of asset-based lending, specialty finance and other corporate transactions. In 2021, he was named Chair of the Alternative and Specialty Finance practice group.

  • Cambridge Savings Bank Supports Cascade School Supplies with $8.8 Million Credit Facility to Support Growth and Infrastructure Improvements
    Jan 19, 2023
    Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and $6 billion in assets, today announced that its Asset-Based Lending team provided an $8.8 million credit facility to Cascade School Supplies. Based in North Adams, MA, Cascade retails a wide range of educational materials to public schools in the Northeast, while also meeting the office supplies and furniture needs of various other organizations.
  • Siena Lending Group LLC and Great Rock Capital Arrange $100 Million Senior Secured Credit Facility with SkyWater Technology
    Jan 17, 2023

    Siena Lending Group LLC ("Siena") and Great Rock Capital (“Great Rock”) jointly announce today the closing of a $100 million senior secured credit facility with SkyWater Technology (“SkyWater”), a publicly traded company with a majority ownership by Oxbow Industries.

    SkyWater, headquartered in Bloomington, MN, is the most advanced domestically owned and based Trusted Foundry, serving the needs of the U.S. government as well as other commercial applications. 

  • SethBenefield_150 Interview with Bank of America’s Seth Benefield
    In this installment of our series of executive interviews, Charlie Perer sits with Seth Benefield, head of Bank of America Business Capital and Asset-Based Financing, to hear his perspective on the state of the ABL market, challenges of running one of the biggest ABL groups, ABL as a product or business, leadership and competition, among other things.
  • Werner Expands Borrowing Capacity with $1B Credit Facility as it Eyes Acquisitions
    Jan 17, 2023

    Werner Enterprises entered into a more than $1 billion credit facility on Dec. 20, with the proceeds to be used for working capital, acquisitions and other investments.

    The new credit agreement replaces two $300 million credit facilities and a $100 million loan, according to a securities filing, collectively rolling over $585 million of the carrier’s outstanding debt.

  • Snowden Lane Partners Secures $100 Million Credit Facility
    Jan 12, 2023

    Snowden Lane Partners, an independent, advisor-owned, wealth advisory firm dedicated to providing client-focused advice in a values-driven culture, together with Snowden Lane’s private equity partner, Estancia Capital Partners (“Estancia”), today announced that Snowden Lane secured a new $100 million credit facility.

    The new facility replaces a facility originally secured with ORIX Corporation in 2018 and subsequently expanded in early 2022. The $100 million of available credit will enable Snowden Lane to significantly bolster its recruiting momentum and position itself for sustained growth through 2023 and beyond.

  • First Citizens Middle Market Banking Provides Up to $65.8 Million for Morningstar Properties Affiliates
    Jan 11, 2023

    First Citizens Bank today announced that its Middle Market Banking business provided a total of $65.8 million in senior secured financing for affiliates of Morningstar Properties, a leading investor in and operator of self-storage facilities, marinas, and other specialty real estate assets.

    The financing was used for Morningstar’s acquisition of three new self-storage properties that will operate under the brand name Morningstar Storage.