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ABL Market Update – Q3 2025: Resilience in the Face of Macro Bifurcation
Dec 18, 2025
In Q3 2025, the asset-based lending (ABL) market continued its cautious rebound amid a complex macroeconomic backdrop marked by uneven sector performance, delayed federal data reporting, and shifting Federal Reserve policy expectations. Data from LSEG LPC and the Secured Finance Network’s (SFNet) Quarterly ABL Survey reveals a stable-to-improving trend in ABL activity—driven by stronger equipment-related investment, opportunistic M&A, and growing demand from liquidity-seeking borrowers in volatile sectors.
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SFNet Releases Q3 2025 Asset-Based Lending and Confidence Indexes
Dec 18, 2025
The Secured Finance Network (SFNet) has released its Q3 2025 Asset-Based Lending Index and Lender Confidence Index, offering a snapshot of how the industry has remained strong despite tariff headwinds, a government shutdown, and private credit bankruptcies in the headlines.
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The All-You-Can-Eat Borrowing Base
Dec 15, 2025
A new trend is reshaping asset-based lending (ABL): the bundling of fixed assets into the borrowing base at the same pricing as traditional working capital assets.
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SFNet’s 81st Annual Conference: Innovations and Trends Shaping the Future
Dec 15, 2025
SFNet’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.
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Winter Is Coming: What We Learned About Preparing for a Cooling Economy
Dec 10, 2025
A South Florida SFNet chapter event on September 17, “Winter is Coming: How to Prepare for a Cooling Economy,” was an in-depth panel presentation moderated by Chris Gouskos from Gibraltar Business Capital. The panelists shared practical ways lenders can protect their institutions and their clients as economic uncertainty builds. Together, they examined how deals are originated, managed, and, when necessary, restructured.
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Cambridge Savings Bank Appoints Cal Navatto as Senior Vice President, Senior Asset-Based Lending Relationship Manager
Dec 10, 2025
Cambridge Savings Bank (CSB) today announced that W. Calvin “Cal” Navatto has joined the Bank as Senior Vice President, Senior Asset-Based Lending (ABL) Relationship Manager within its Commercial Division. In this role, Navatto will focus on expanding CSB’s asset-based lending portfolio, deepening relationships with middle-market companies, and supporting the continued growth of the Bank’s ABL business.
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Moritt Hock & Hamroff Expands New York Corporate, Creditors' Rights and Litigation Capabilities with Addition of Walter Siegel, Kristina M. Sgambati and Joseph A. Famulari II
Dec 10, 2025
Moritt Hock & Hamroff, a New York headquartered commercial law firm, today announced the addition of attorneys
Walter Siegel,
Kristina M. Sgambati and
Joseph A. Famulari II. Siegel joins the firm's Corporate, Dispute Resolution and Litigation practices as counsel in its New York City office while Sgambati and Famulari join the firm's Litigation practice as associates in its Garden City office.
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Wingspire Capital Promotes Will Bence to Head of Originations
Dec 8, 2025
Wingspire Capital has announced the promotion of Will Bence to Senior Managing Director, Head of Originations. Bence joined Wingspire in 2020, shortly after the firm was founded, and will now lead the national team of best-in-class business development professionals. He brings nearly 20 years of experience in both the bank and non-bank lending markets.
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Built-In Discipline: How Asset-Based Lending Stays Secure and Efficient Amid Emerging Risk
Dec 8, 2025
In today’s volatile financial landscape, asset-based lending stands out as a resilient and adaptable solution for both borrowers and lenders. The data says it all: according to SFNet’s Annual Asset-Based Lending Survey, losses on asset-based lending loans have averaged less than 10 basis points per year over the past three years. Unlike unsecured lending, ABL is anchored in tangible collateral (receivables, inventory, equipment, and more) providing a layer of security that is especially valuable when markets are unpredictable. But the true strength of ABL lies not just in the assets themselves, but in the discipline and oversight embedded throughout the lending process.
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Oz Lindley Joins Pathward’s Commercial Finance Team
Dec 4, 2025
Pathward®, N.A. (“Pathward” or “the company”) has appointed Oz Lindley as Managing Director, Business Development. In this position, Lindley is responsible for originating and structuring asset-based transactions to lower and middle-market companies throughout the southeast region of the U.S.
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Opening Doors: How SFNet’s Guest Lecture Program Connects Students to Careers in Secured Finance
Dec 3, 2025
Launched 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.
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Building the Future of Asset-Based Lending at SLR Capital Partners: An Interview with Mac Fowle and Cedric Henley
Dec 1, 2025
In October, SLR Capital Partners appointed Mac Fowle as president of Asset-Based Lending. In this newly created role, Fowle leads the expansion of SLR's ABL platform by leveraging his more than 20 years of experience in the ABL industry for U.S. middle market borrowers. Fowle reports to Michael Gross and Bruce Spohler, co-founders of SLR, and Cedric Henley, chief risk officer of Specialty Finance. Prior to joining SLR, Fowle served as global head of Asset-Based Lending for J.P. Morgan Commercial Banking, responsible for leading the ABL group and supporting client financing needs for Commercial & Investment Banking clients.
Here TSL Express sat down with Mac Fowle and Cedric Henley to discuss the new role and first priorities.
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The Cost of Uncertainty
Nov 24, 2025
The secured lending industry has had to adjust to a series of exogenous shocks over the last two decades: the Great Financial Crisis (GFC), the COVID-19 pandemic and now fast-changing policies around tariffs and trade. The current environment presents a distinct set of challenges and risks— but many lenders appear to be fighting the last war, applying lessons learned during COVID that may prove ill-suited to this new era of uncertainty.
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The State of Lender Finance
Nov 19, 2025
In a rapidly evolving financial landscape, lender finance has emerged as a dynamic and competitive sector. To gain a deeper understanding of the current trends, challenges, and priorities shaping this space, we spoke with five industry veterans: Russell Turley, first vice president, commercial banking team leader, Valley National Bank; Gen Merritt-Parikh, co-CEO, Haversine Funding; Patrick Green, SVP, head of Lender Finance, Flagstar Bank Stewart Hayes, managing director/SVP, Wells Fargo Capital Finance; and JD Gettmann, managing director, head of lender finance, MidCap Financial Services, LLC.
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Renasant Business Credit Announces over $44 Million in New Closings
Nov 18, 2025
Renasant Business Credit is pleased to announce four recent fundings, totaling over $44 million. These new Asset-Based Lines of Credit and Term Loans include an $6.25 million Term and Working Capital facility for a machining and supplier of precision machined components, a $8 million Line of Credit for a processor and distributor of frozen seafood, a $25 million Line of Credit to a provider of private lending services on investment real estate, and facility increase from $15 million to $20 million for a fuel distributor which servs the oil and gas industry.
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Interview with Neil Aaronson, President of Hilco Global
Nov 17, 2025
Hilco Global recently announced a strategic transformation designed to position the company for its next stage of growth. The firm has streamlined its 20+ operating companies into two new divisions, Hilco Global Professional Services and Hilco Global Capital Solutions, creating a more integrated platform to deliver comprehensive financial solutions.
As part of this evolution, Neil Aaronson, along with other key executives, will play a central role in driving integration and execution. Here, Neil shares insight into the strategic vision behind the transformation and Hilco Global’s long-term growth goals.
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Strategic Report: U.S. Freight Capacity Shake-Out & Factoring Industry Risk Analysis
Nov 13, 2025
The U.S. freight-transportation industry is undergoing one of the most significant structural contractions in its history. Market indicators suggest that up to 600,000 drivers may exit the industry amid suppressed freight volumes, rising operating costs, and persistent margin pressure. This transformation affects the entire transportation ecosystem and poses substantial credit, operational, and fraud risks for factoring companies.
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Asset Based Lending Consultants (ABLC) Acquires Corporate Consulting & Services LLC, Expanding Expertise in Factoring and Due Diligence ABL Field Examinations
Nov 12, 2025
Asset Based Lending Consultants (ABLC), a global leader in field examinations and lender support services since 1986, today announced the acquisition of Corporate Consulting & Services LLC (CCS), a respected New York–based consulting and services firm specializing in field examinations for factoring and asset-based lending divisions of banks and financial institutions.
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Mayer Brown Expands Global Leveraged Finance & Private Capital Practice With the Addition of Leading Leveraged Finance and Private Credit Lawyers Frederick Cristman and James Adams
Nov 11, 2025
Mayer Brown announced today that Frederick Cristman and James Adams have joined the Washington DC office as partners in the firm’s Global Leveraged Finance and Private Capital Group. They join from Hogan Lovells and bring years of dealmaking experience in complex finance transactions.
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Navigating the Switch: Practical Considerations in the Transition from Commercial Bank Loans to Private Credit Loans in the Middle Market
Nov 11, 2025
Many articles compare syndicated loans and private credit loans as asset classes, often noting the faster execution of private credit lenders and the lower cost of capital in syndicated bank deals. However, these types of articles often skip over the practical challenges that can arise when refinancing a syndicated bank loan with a private credit loan. This article will highlight several of those topics and the related considerations that borrowers in the middle market and lower middle market should keep in mind.