- How One Line Scaled Elevenfold with a Fast-Growing Beverage Brand
- Morgan Lewis Announces New Global Leadership Team as David McManus Begins Chair Term
- Austin Financial Services Appoints Stacey Lykins as President
- Maximum Leverage, Minimal Equity in a Distribution Acquisition
- Interview with Eileen Kowalski, Recipient of SFNet's Harry H. Chen Instructor of the Year Award
-
How One Line Scaled Elevenfold with a Fast-Growing Beverage Brand
Oct 27, 2026In 2019, Waterloo Sparkling Water was just two years old, VC-backed, with strong regional distribution across many of the industry’s top retailers. The brand had already proven product-market fit and was showing every early sign of a company about to accelerate. -
Morgan Lewis Announces New Global Leadership Team as David McManus Begins Chair Term
Oct 27, 2026
Morgan Lewis today announced its new global leadership team as David McManus commences his five-year term as Firm Chair. A Morgan Lewis partner for more than 30 years and a longtime leader at both the firm and practice levels, Mr. McManus is organizing the firm’s new leadership team around a focus on the firm’s elite practices and unified culture. His vision for the future of the firm centers on four foundational pillars: seamless client service; relentless practice development; unparalleled professional culture; and disciplined innovation.
-
Austin Financial Services Appoints Stacey Lykins as President
Oct 27, 2026Austin Financial Services, Inc. (AFS), a leader in asset-based lending since 1981, today announced the appointment of Stacey Lykins as president. AFS has operated through a strategic joint venture with Stearns Bank since April 2025. Lykins will lead the company’s asset-based lending strategy and oversee credit and underwriting, portfolio management and business development. -
Maximum Leverage, Minimal Equity in a Distribution Acquisition
Oct 26, 2026Our “Anatomy of a Deal” case studies offer an inside view of how secured finance professionals approach complex situations and develop solutions tailored to each borrower’s needs.
This anatomy of a deal breaks down a highly leveraged acquisition financing that required creativity, speed and cooperation among all parties. From restructuring the capital stack mid-process to resolving a complicated seller note negotiation, the deal illustrates how flexibility, communication and disciplined structuring can keep a complex transaction moving toward a successful close.
-
Interview with Eileen Kowalski, Recipient of SFNet's Harry H. Chen Instructor of the Year Award
Oct 22, 2026Eileen Kowalski, MBA, is SVP and national recurring field exam manager at PNC Business Credit and the recipient of the SFNet's Harry H. Chen Instructor of the Year Award, which will be presented at SFNet's Annual Convention in Chicago next month. She is a 35-plus year veteran of commercial finance and asset-based lending. Eileen is integral to PNCBC’s Field Exam training program.
-
Bridging the Gap from Predatory Debt to Legacy Banking
Oct 21, 2026Our “Anatomy of a Deal” case studies offer an inside view of how secured finance professionals approach complex situations and develop solutions tailored to each borrower’s needs.
High-growth brands often face a dangerous financing gap: needing capital faster than traditional lenders are willing to provide it. This article examines how one consumer brand moved away from costly merchant cash advances and toward a structured asset-based lending solution that better supported growth, preserved equity, and created a path to bankability.
-
SG Credit Announces Hiring of Chris Jensen as Managing Director, Head Of Underwriting and Portfolio Management
Oct 21, 2026SG Credit Partners is pleased to announce that Chris Jensen has joined its Commercial Finance team as Managing Director, Head of Underwriting and Portfolio Management. Jensen will lead SG Credit's underwriting and portfolio management team, working across the firm to scale its asset-based lending platform as SG Credit moves upmarket and expands its ABL product capabilities.
-
When Structure Meets Opportunity
Oct 19, 2026Our “Anatomy of a Deal” case studies offer an inside view of how secured finance professionals approach complex situations and develop solutions tailored to each borrower’s needs. Some of the most compelling deals arise when a great business simply finds itself without the right capital partner. That was precisely the situation when Altriarch was introduced to a West Coast-based manufacturer with more than 50 years of operating history, industry-leading products, and a capital base in need of a restructure.
-
Legacy Corporate Lending Names Anthony Masci Chief Risk Officer
Oct 13, 2026Legacy Corporate Lending (“Legacy”) , a specialty asset-based lender, today announced the appointment of Anthony Masci as Chief Risk Officer. Based in New York, Masci joins Legacy’s Executive Management Team as the firm continues to grow its diversified ABL platform. He will work closely with the Chief Executive Officer, Clark Griffith, and Chief Investment Officer, Paul Martin, in expanding the credit function, strengthening underwriting and portfolio management, while also contributing to the firm’s growth initiatives.
-
The Contra Nobody Is Watching: Tariff Refunds Through an ABL Due Diligence Lens
Oct 13, 2026U.S. Customs and Border Protection (CBP) is now refunding tariffs imposed under the International Emergency Economic Powers Act (IEEPA), which the Supreme Court ruled unlawful. Most of the commentary treats this as good news for importers. For asset-based lenders, it raises a different question, one that belongs in due diligence: Who is actually entitled to the money?
-
The Perils of Dual Engagements
In this edition of the Lender’s Edge, we discuss the perils of dual engagements and the lessons for lenders, CROs, and financial advisers when navigating potential conflicts of interest.
-
SFNet Announces FY27 Leadership Appointments
Oct 5, 2026The Secured Finance Network (SFNet) Member Directors have elected the FY27 SFNet Management Committee and Executive Committee members, with approval from the Executive Committee. The Secured Finance Foundation (SFFound) Member Donors have also elected the FY27 SFFound Board and Officers, with approval from the SFFound Board.
-
The Signal in the Survey: ABL Credit Quality as an Early Warning of Systemic Stress
Oct 5, 2026New academic research finds that the numbers SFNet members report every quarter carry information about system-wide financial stress up to two years before it arrives, and that they add predictive power the traded market does not supply. The survey’s nonaccrual rate has just posted its highest reading since 2011. -
Factoring Volume Rises as Industry Outlook Strengthens, SFNet Mid-Year Survey Finds
Oct 1, 2026As businesses navigate ongoing cost pressures and shifting working-capital needs, new data from the Secured Finance Network (SFNet) points to growing momentum in factoring. SFNet’s 2026 mid-year factoring survey found that factoring volume increased during the first half of the year, while factors reported a more positive outlook for the industry.
-
Factoring Finds Its Footing: Volume, Confidence and Working-Capital Demand Rise in H1 2026
Sep 30, 2026
SFNet’s Mid-Year Factoring Survey shows accelerating volume, expanding funds in use and remarkably stable credit performance as inflation, tariffs and higher financing costs reinforce factoring’s role in the working-capital market.
-
SFNet Releases Q2 2026 Asset-Based Lending Index as Lender Optimism Continues
Sep 29, 2026As businesses continue to contend with higher borrowing costs, persistent inflation and economic uncertainty, new data from the Secured Finance Network (SFNet) points to renewed momentum in asset-based lending. SFNet’s Q2 2026 Asset-Based Lending Index and Lender Confidence Index show a rebound in deal activity as companies increasingly look to flexible financing solutions to manage evolving working-capital needs.
-
Q2 Rebound: ABL Activity Accelerates as Lenders See Stronger Demand
Sep 28, 2026
SFNet’s Q2 2026 Asset-Based Lending Survey shows a sharp rebound in new commitments, improving bank credit performance and renewed optimism about demand—even as inflation, higher rates and geopolitical uncertainty complicate the outlook.
-
Interview with Betty Hernandez, Retiring President of SFNet
Sep 28, 2026Betty Hernandez, executive vice president-chief credit officer of SLR Business Credit, reflects on her year as SFNet president, including new programs and events launched during her tenure and opportunities in the year ahead. -
United Community Expands Asset-Based Lending Team with Industry Veteran Steve Janson
Sep 24, 2026United Community has strengthened its Asset-Based Lending (ABL) team with the addition of Steve Janson as Senior ABL Business Development Officer. Janson brings more than 25 years of commercial finance and ABL experience, further enhancing United's ability to deliver flexible financing solutions to middle-market companies throughout the Southeast. -
Higher Rates, Bigger Decisions. BMO’s Jon Biorkman on Middle Market Liquidity, Flexible Financing and Growth
Sep 22, 2026Following the Federal Open Market Committee meeting held September 15-16, TSL Express sat down with Jon Biorkman, head, U.S. Specialty Finance, BMO Commercial Bank, to discuss the interest rate increase, how companies are managing liquidity, M&A growth and more.
-
How One Line Scaled Elevenfold with a Fast-Growing Beverage Brand
Oct 27, 2026In 2019, Waterloo Sparkling Water was just two years old, VC-backed, with strong regional distribution across many of the industry’s top retailers. The brand had already proven product-market fit and was showing every early sign of a company about to accelerate. -
Morgan Lewis Announces New Global Leadership Team as David McManus Begins Chair Term
Oct 27, 2026
Morgan Lewis today announced its new global leadership team as David McManus commences his five-year term as Firm Chair. A Morgan Lewis partner for more than 30 years and a longtime leader at both the firm and practice levels, Mr. McManus is organizing the firm’s new leadership team around a focus on the firm’s elite practices and unified culture. His vision for the future of the firm centers on four foundational pillars: seamless client service; relentless practice development; unparalleled professional culture; and disciplined innovation.
-
Austin Financial Services Appoints Stacey Lykins as President
Oct 27, 2026Austin Financial Services, Inc. (AFS), a leader in asset-based lending since 1981, today announced the appointment of Stacey Lykins as president. AFS has operated through a strategic joint venture with Stearns Bank since April 2025. Lykins will lead the company’s asset-based lending strategy and oversee credit and underwriting, portfolio management and business development. -
Maximum Leverage, Minimal Equity in a Distribution Acquisition
Oct 26, 2026Our “Anatomy of a Deal” case studies offer an inside view of how secured finance professionals approach complex situations and develop solutions tailored to each borrower’s needs.
This anatomy of a deal breaks down a highly leveraged acquisition financing that required creativity, speed and cooperation among all parties. From restructuring the capital stack mid-process to resolving a complicated seller note negotiation, the deal illustrates how flexibility, communication and disciplined structuring can keep a complex transaction moving toward a successful close.
-
Interview with Eileen Kowalski, Recipient of SFNet's Harry H. Chen Instructor of the Year Award
Oct 22, 2026Eileen Kowalski, MBA, is SVP and national recurring field exam manager at PNC Business Credit and the recipient of the SFNet's Harry H. Chen Instructor of the Year Award, which will be presented at SFNet's Annual Convention in Chicago next month. She is a 35-plus year veteran of commercial finance and asset-based lending. Eileen is integral to PNCBC’s Field Exam training program.
-
Bridging the Gap from Predatory Debt to Legacy Banking
Oct 21, 2026Our “Anatomy of a Deal” case studies offer an inside view of how secured finance professionals approach complex situations and develop solutions tailored to each borrower’s needs.
High-growth brands often face a dangerous financing gap: needing capital faster than traditional lenders are willing to provide it. This article examines how one consumer brand moved away from costly merchant cash advances and toward a structured asset-based lending solution that better supported growth, preserved equity, and created a path to bankability.
-
SG Credit Announces Hiring of Chris Jensen as Managing Director, Head Of Underwriting and Portfolio Management
Oct 21, 2026SG Credit Partners is pleased to announce that Chris Jensen has joined its Commercial Finance team as Managing Director, Head of Underwriting and Portfolio Management. Jensen will lead SG Credit's underwriting and portfolio management team, working across the firm to scale its asset-based lending platform as SG Credit moves upmarket and expands its ABL product capabilities.
-
When Structure Meets Opportunity
Oct 19, 2026Our “Anatomy of a Deal” case studies offer an inside view of how secured finance professionals approach complex situations and develop solutions tailored to each borrower’s needs. Some of the most compelling deals arise when a great business simply finds itself without the right capital partner. That was precisely the situation when Altriarch was introduced to a West Coast-based manufacturer with more than 50 years of operating history, industry-leading products, and a capital base in need of a restructure.
-
Legacy Corporate Lending Names Anthony Masci Chief Risk Officer
Oct 13, 2026Legacy Corporate Lending (“Legacy”) , a specialty asset-based lender, today announced the appointment of Anthony Masci as Chief Risk Officer. Based in New York, Masci joins Legacy’s Executive Management Team as the firm continues to grow its diversified ABL platform. He will work closely with the Chief Executive Officer, Clark Griffith, and Chief Investment Officer, Paul Martin, in expanding the credit function, strengthening underwriting and portfolio management, while also contributing to the firm’s growth initiatives.
-
The Contra Nobody Is Watching: Tariff Refunds Through an ABL Due Diligence Lens
Oct 13, 2026U.S. Customs and Border Protection (CBP) is now refunding tariffs imposed under the International Emergency Economic Powers Act (IEEPA), which the Supreme Court ruled unlawful. Most of the commentary treats this as good news for importers. For asset-based lenders, it raises a different question, one that belongs in due diligence: Who is actually entitled to the money?
-
The Perils of Dual Engagements
In this edition of the Lender’s Edge, we discuss the perils of dual engagements and the lessons for lenders, CROs, and financial advisers when navigating potential conflicts of interest.
-
SFNet Announces FY27 Leadership Appointments
Oct 5, 2026The Secured Finance Network (SFNet) Member Directors have elected the FY27 SFNet Management Committee and Executive Committee members, with approval from the Executive Committee. The Secured Finance Foundation (SFFound) Member Donors have also elected the FY27 SFFound Board and Officers, with approval from the SFFound Board.
-
The Signal in the Survey: ABL Credit Quality as an Early Warning of Systemic Stress
Oct 5, 2026New academic research finds that the numbers SFNet members report every quarter carry information about system-wide financial stress up to two years before it arrives, and that they add predictive power the traded market does not supply. The survey’s nonaccrual rate has just posted its highest reading since 2011. -
Factoring Volume Rises as Industry Outlook Strengthens, SFNet Mid-Year Survey Finds
Oct 1, 2026As businesses navigate ongoing cost pressures and shifting working-capital needs, new data from the Secured Finance Network (SFNet) points to growing momentum in factoring. SFNet’s 2026 mid-year factoring survey found that factoring volume increased during the first half of the year, while factors reported a more positive outlook for the industry.
-
Factoring Finds Its Footing: Volume, Confidence and Working-Capital Demand Rise in H1 2026
Sep 30, 2026
SFNet’s Mid-Year Factoring Survey shows accelerating volume, expanding funds in use and remarkably stable credit performance as inflation, tariffs and higher financing costs reinforce factoring’s role in the working-capital market.
-
SFNet Releases Q2 2026 Asset-Based Lending Index as Lender Optimism Continues
Sep 29, 2026As businesses continue to contend with higher borrowing costs, persistent inflation and economic uncertainty, new data from the Secured Finance Network (SFNet) points to renewed momentum in asset-based lending. SFNet’s Q2 2026 Asset-Based Lending Index and Lender Confidence Index show a rebound in deal activity as companies increasingly look to flexible financing solutions to manage evolving working-capital needs.
-
Q2 Rebound: ABL Activity Accelerates as Lenders See Stronger Demand
Sep 28, 2026
SFNet’s Q2 2026 Asset-Based Lending Survey shows a sharp rebound in new commitments, improving bank credit performance and renewed optimism about demand—even as inflation, higher rates and geopolitical uncertainty complicate the outlook.
-
Interview with Betty Hernandez, Retiring President of SFNet
Sep 28, 2026Betty Hernandez, executive vice president-chief credit officer of SLR Business Credit, reflects on her year as SFNet president, including new programs and events launched during her tenure and opportunities in the year ahead. -
United Community Expands Asset-Based Lending Team with Industry Veteran Steve Janson
Sep 24, 2026United Community has strengthened its Asset-Based Lending (ABL) team with the addition of Steve Janson as Senior ABL Business Development Officer. Janson brings more than 25 years of commercial finance and ABL experience, further enhancing United's ability to deliver flexible financing solutions to middle-market companies throughout the Southeast. -
Higher Rates, Bigger Decisions. BMO’s Jon Biorkman on Middle Market Liquidity, Flexible Financing and Growth
Sep 22, 2026Following the Federal Open Market Committee meeting held September 15-16, TSL Express sat down with Jon Biorkman, head, U.S. Specialty Finance, BMO Commercial Bank, to discuss the interest rate increase, how companies are managing liquidity, M&A growth and more.
-
How One Line Scaled Elevenfold with a Fast-Growing Beverage Brand
Oct 27, 2026In 2019, Waterloo Sparkling Water was just two years old, VC-backed, with strong regional distribution across many of the industry’s top retailers. The brand had already proven product-market fit and was showing every early sign of a company about to accelerate. -
Morgan Lewis Announces New Global Leadership Team as David McManus Begins Chair Term
Oct 27, 2026
Morgan Lewis today announced its new global leadership team as David McManus commences his five-year term as Firm Chair. A Morgan Lewis partner for more than 30 years and a longtime leader at both the firm and practice levels, Mr. McManus is organizing the firm’s new leadership team around a focus on the firm’s elite practices and unified culture. His vision for the future of the firm centers on four foundational pillars: seamless client service; relentless practice development; unparalleled professional culture; and disciplined innovation.
-
Austin Financial Services Appoints Stacey Lykins as President
Oct 27, 2026Austin Financial Services, Inc. (AFS), a leader in asset-based lending since 1981, today announced the appointment of Stacey Lykins as president. AFS has operated through a strategic joint venture with Stearns Bank since April 2025. Lykins will lead the company’s asset-based lending strategy and oversee credit and underwriting, portfolio management and business development. -
Maximum Leverage, Minimal Equity in a Distribution Acquisition
Oct 26, 2026Our “Anatomy of a Deal” case studies offer an inside view of how secured finance professionals approach complex situations and develop solutions tailored to each borrower’s needs.
This anatomy of a deal breaks down a highly leveraged acquisition financing that required creativity, speed and cooperation among all parties. From restructuring the capital stack mid-process to resolving a complicated seller note negotiation, the deal illustrates how flexibility, communication and disciplined structuring can keep a complex transaction moving toward a successful close.
-
Interview with Eileen Kowalski, Recipient of SFNet's Harry H. Chen Instructor of the Year Award
Oct 22, 2026Eileen Kowalski, MBA, is SVP and national recurring field exam manager at PNC Business Credit and the recipient of the SFNet's Harry H. Chen Instructor of the Year Award, which will be presented at SFNet's Annual Convention in Chicago next month. She is a 35-plus year veteran of commercial finance and asset-based lending. Eileen is integral to PNCBC’s Field Exam training program.
-
Bridging the Gap from Predatory Debt to Legacy Banking
Oct 21, 2026Our “Anatomy of a Deal” case studies offer an inside view of how secured finance professionals approach complex situations and develop solutions tailored to each borrower’s needs.
High-growth brands often face a dangerous financing gap: needing capital faster than traditional lenders are willing to provide it. This article examines how one consumer brand moved away from costly merchant cash advances and toward a structured asset-based lending solution that better supported growth, preserved equity, and created a path to bankability.
-
SG Credit Announces Hiring of Chris Jensen as Managing Director, Head Of Underwriting and Portfolio Management
Oct 21, 2026SG Credit Partners is pleased to announce that Chris Jensen has joined its Commercial Finance team as Managing Director, Head of Underwriting and Portfolio Management. Jensen will lead SG Credit's underwriting and portfolio management team, working across the firm to scale its asset-based lending platform as SG Credit moves upmarket and expands its ABL product capabilities.
-
When Structure Meets Opportunity
Oct 19, 2026Our “Anatomy of a Deal” case studies offer an inside view of how secured finance professionals approach complex situations and develop solutions tailored to each borrower’s needs. Some of the most compelling deals arise when a great business simply finds itself without the right capital partner. That was precisely the situation when Altriarch was introduced to a West Coast-based manufacturer with more than 50 years of operating history, industry-leading products, and a capital base in need of a restructure.
-
Legacy Corporate Lending Names Anthony Masci Chief Risk Officer
Oct 13, 2026Legacy Corporate Lending (“Legacy”) , a specialty asset-based lender, today announced the appointment of Anthony Masci as Chief Risk Officer. Based in New York, Masci joins Legacy’s Executive Management Team as the firm continues to grow its diversified ABL platform. He will work closely with the Chief Executive Officer, Clark Griffith, and Chief Investment Officer, Paul Martin, in expanding the credit function, strengthening underwriting and portfolio management, while also contributing to the firm’s growth initiatives.
-
The Contra Nobody Is Watching: Tariff Refunds Through an ABL Due Diligence Lens
Oct 13, 2026U.S. Customs and Border Protection (CBP) is now refunding tariffs imposed under the International Emergency Economic Powers Act (IEEPA), which the Supreme Court ruled unlawful. Most of the commentary treats this as good news for importers. For asset-based lenders, it raises a different question, one that belongs in due diligence: Who is actually entitled to the money?
-
The Perils of Dual Engagements
In this edition of the Lender’s Edge, we discuss the perils of dual engagements and the lessons for lenders, CROs, and financial advisers when navigating potential conflicts of interest.
-
SFNet Announces FY27 Leadership Appointments
Oct 5, 2026The Secured Finance Network (SFNet) Member Directors have elected the FY27 SFNet Management Committee and Executive Committee members, with approval from the Executive Committee. The Secured Finance Foundation (SFFound) Member Donors have also elected the FY27 SFFound Board and Officers, with approval from the SFFound Board.
-
The Signal in the Survey: ABL Credit Quality as an Early Warning of Systemic Stress
Oct 5, 2026New academic research finds that the numbers SFNet members report every quarter carry information about system-wide financial stress up to two years before it arrives, and that they add predictive power the traded market does not supply. The survey’s nonaccrual rate has just posted its highest reading since 2011. -
Factoring Volume Rises as Industry Outlook Strengthens, SFNet Mid-Year Survey Finds
Oct 1, 2026As businesses navigate ongoing cost pressures and shifting working-capital needs, new data from the Secured Finance Network (SFNet) points to growing momentum in factoring. SFNet’s 2026 mid-year factoring survey found that factoring volume increased during the first half of the year, while factors reported a more positive outlook for the industry.
-
Factoring Finds Its Footing: Volume, Confidence and Working-Capital Demand Rise in H1 2026
Sep 30, 2026
SFNet’s Mid-Year Factoring Survey shows accelerating volume, expanding funds in use and remarkably stable credit performance as inflation, tariffs and higher financing costs reinforce factoring’s role in the working-capital market.
-
SFNet Releases Q2 2026 Asset-Based Lending Index as Lender Optimism Continues
Sep 29, 2026As businesses continue to contend with higher borrowing costs, persistent inflation and economic uncertainty, new data from the Secured Finance Network (SFNet) points to renewed momentum in asset-based lending. SFNet’s Q2 2026 Asset-Based Lending Index and Lender Confidence Index show a rebound in deal activity as companies increasingly look to flexible financing solutions to manage evolving working-capital needs.
-
Q2 Rebound: ABL Activity Accelerates as Lenders See Stronger Demand
Sep 28, 2026
SFNet’s Q2 2026 Asset-Based Lending Survey shows a sharp rebound in new commitments, improving bank credit performance and renewed optimism about demand—even as inflation, higher rates and geopolitical uncertainty complicate the outlook.
-
Interview with Betty Hernandez, Retiring President of SFNet
Sep 28, 2026Betty Hernandez, executive vice president-chief credit officer of SLR Business Credit, reflects on her year as SFNet president, including new programs and events launched during her tenure and opportunities in the year ahead. -
United Community Expands Asset-Based Lending Team with Industry Veteran Steve Janson
Sep 24, 2026United Community has strengthened its Asset-Based Lending (ABL) team with the addition of Steve Janson as Senior ABL Business Development Officer. Janson brings more than 25 years of commercial finance and ABL experience, further enhancing United's ability to deliver flexible financing solutions to middle-market companies throughout the Southeast. -
Higher Rates, Bigger Decisions. BMO’s Jon Biorkman on Middle Market Liquidity, Flexible Financing and Growth
Sep 22, 2026Following the Federal Open Market Committee meeting held September 15-16, TSL Express sat down with Jon Biorkman, head, U.S. Specialty Finance, BMO Commercial Bank, to discuss the interest rate increase, how companies are managing liquidity, M&A growth and more.




