ABL Through and Through: A Conversation with John Eissele
Dec 6, 2023
This past Fall, MUFG announced leadership changes within its Asset-Based Finance team designed to align the team to better support its overall ABF growth strategy in the Americas. Leadership team members are based in three key markets – New York, Boston, and Los Angeles. John Eissele, who has been with the bank for 11 years, was appointed as MUFG’s new head of ABF. Here, Eissele discusses his goals, strategic priorities, challenges and opportunities.
Two SFNet Convention Sessions Connect— Your Workforce Needs and AI Exploration
The recruiting and retention landscape in commercial finance is increasingly becoming a “War for Talent,” according to speakers who explored that topic and much more at SFNet’s 79th Annual Convention in Orlando, FL. Finding and keeping a quality workforce is of utmost importance these days as companies navigate the post-pandemic economy.
Also on the agenda was “AI and the Future of Secured Finance,” which featured a panel of experts who discussed industry trends in artificial intelligence including its anticipated impact on employment.
Huntington Business Credit Adds Asset-based Lending Team for Healthcare Finance
Huntington National Bank has expanded its Huntington Business Credit team with the addition of a Washington, D.C.-based group focused on asset-based lending in the healthcare industry. The new team, which will serve asset-based lending needs for middle market healthcare clients across the U.S., consists of five healthcare-finance industry veterans who recently joined Huntington from Sector Financial.
Interview with SFNet’s New President Barry Bobrow
Nov 30, 2023
Barry Bobrow is a managing director and head of credit markets for Regions Business Capital. He is a widely respected leader in middle-market leveraged finance and asset-based lending. He has spent the past 38 years working in banking, most of it as a debt capital markets professional, primarily in leveraged lending and supply chain finance. Bobrow is the creator and chairman of the Asset Based Capital Conference (ABCC), an SFNet sponsored conference focusing on the middle-market leveraged and asset-based markets, now in its 16th year. Here, Bobrow discusses his career trajectory, his outlook for the industry and his goals for SFNet in 2024.
Accord Financial Hires Ryan Ray as Director, Business Development, U.S. Asset Based Finance
Nov 29, 2023
Accord Financial Corp., one of the U.S. and Canada’s leading independent commercial finance companies ("Accord") (TSX: ACD) announced the hiring of Ryan Ray, an experienced asset-based lending (ABL) and equipment professional to the Accord Financial team.
Bladex and Greenbridge Capital - Toesca and TC Latam JV- Announce Launching of Latin American Factoring Platform
Nov 27, 2023
Banco Latinoamericano de Comercio Exterior - Bladex (NYSE:BLX), TC Latin America Partners (TC Latam) and Toesca Asset Management (Toesca) announce the launch of Greenbridge Capital, a regional private lending platform, whose first factoring vehicle will be funded by Bladex. The joint venture will begin operations in Chile before the end of 2023 with plans to expand to other countries in the region such as Colombia, Peru and Mexico.
Eric Huff Joins S&T Bank as Director of Asset-Based Lending
S&T Bank has named Eric Huff as senior vice president, managing director of asset-based lending.
With over 25 years of experience in financial services, most recently as the senior regional director and business development officer at Huntington Bank, Huff brings a wealth of knowledge and experience. In his role at S&T Bank, he will be responsible for the ongoing sales and growth of the bank’s asset-based lending portfolio.
Seeking Growth, Small-Business Owners Can Tap a Variety of Loan Options
Nov 20, 2023
What are the credit needs and opportunities for today’s small-business owners? This article explores results from Pathward’s new survey.
Floating Charges: the Good, the Bad and the Ugly - The Evolution of the Floating Charge
Nov 16, 2023
The capacity for a lender to take effective security over a changing pool of assets is of critical importance to the asset-based lending market.
Truist Names Beau Cummins Chief Operating Officer and Dontá Wilson Chief Consumer & Small Business Banking Officer; Hires Kristin Lesher as new Chief Wholesale Banking Officer
Nov 15, 2023
Truist Financial Corporation (NYSE: TFC
) today announced continued progress in the company's transformation journey with the creation of a chief operating officer position, the naming of a new chief consumer & small business banking officer and the hiring of a new chief wholesale banking officer.
The Story of LaSalle Business Credit
Nov 13, 2023
In this feature series, Charlie Perer sits with the key entrepreneurs and executives who have built leading commercial finance companies. This feature is about LaSalle Business Credit, told by some of the key executives who played seminal roles in the 1990s. The core team at LaSalle went on to be leaders throughout the entire commercial finance industry. Here to tell the story are Mike Sharkey, Marty Battaglia, Bob Corsentino and Bruce Sprenger.
TLC For Your Dutch Collateral: Some Practical Considerations
Nov 9, 2023
When a U.S. lawyer and a Dutch lawyer talk about anti-assignment clauses, each might misconstrue what the other is talking about. This is caused by differences in law.
Valley National Bank Strengthens Syndications Capabilities with the Hire of Robert Danziger as Head of Syndications
Nov 8, 2023
Valley National Bank
, the wholly-owned subsidiary of Valley National Bancorp (NASDAQ:VLY), announced today it has hired Robert Danziger, a 30-year corporate finance veteran, as Managing Director, First Senior Vice President, and Head of the Bank’s Syndicated Finance business.
Paragon 28 Announces New $150 Million Credit Facility Replacing Existing $90 Million Credit Facility
Nov 7, 2023
Paragon 28, Inc. (NYSE: FNA) (“Paragon 28” or "Company”), a leading medical device company exclusively focused on the foot and ankle orthopedic market, today announced that it has received a new $150 million credit facility from Ares Capital Corporation (“the Facility”) to replace its existing $90 million senior credit facility.
Interview with Courtney Jeans, Head of Regions Business Capital
Nov 7, 2023
Courtney Jeans is executive managing director and head of Regions Business Capital. Jeans joined Regions Business Capital in January 2022. With nearly 30 years of experience in the financial services industry, his career has focused on lending activities within the middle-market and large corporate sectors in both banking and specialty finance, where he has held positions in business development, portfolio management and risk management.
Neiman Marcus Group Announces Amendment and Extension of its ABL Credit Facility
Nov 2, 2023
Neiman Marcus Group announced that on October 27, 2023 it entered into a Fourth Amendment (the "Amendment") to the Credit Agreement governing the Company's $900M asset-based lending facility (the "ABL Facility"), led by Bank of America, N.A. as Administrative Agent and Collateral Agent, which amends the Company's existing Credit Agreement, dated as of September 25, 2020 (as amended, the "Credit Agreement").
Lending on Government Receivables and Contracts
Nov 2, 2023
Government contractors’ performance and lending requirements can change with the slightest turn due to financial regulations, acts of nature and geopolitical occurrences. Knowing you are secure in lending to, or financing, government contractors starts here.
MidFirst Business Credit Announces New Lending Relationship with LDC Stone, Inc.
Nov 1, 2023
MidFirst Business Credit (MFBC) announced it has recently provided a $25 million working capital facility to LDC Stone, Inc. (“LDC”). Headquartered in Addison, TX, LDC provides design, manufacturing and installation of kitchen and bath cabinet solutions to builders/contractors of single family and multi-family dwellings.
Ares Commercial Finance Adds Managing Director to its Business Development Team
Oct 31, 2023
Ares Commercial Finance is pleased to announce that Lindsay Gray has joined its Business Development team as a Managing Director. Based in Florida, Ms. Gray is responsible for business development and origination, with a focus on direct lending, commercial banking and restructuring advisor relationships.
Transportation Factoring in a Freight Recession
Oct 30, 2023
Factoring for trucking companies and brokerages has skyrocketed in the last 10 years. An estimate on factoring company purchases is $90 billion annually. There are about 250,000 active for-hire carriers with 96 percent having six trucks or less. Factoring remains a necessary and viable tool for smaller carriers who have limited access to bank lines of credit or asset-based lenders. The transportation factoring company fills this void through the built-in elasticity of its offering – helping companies expand when the transportation industry is booming and sustain business when the industry is down.