If you are having difficulty seeing the issue below, please click here to access the digital magazine
 

GB_GBG_23_Advertising_SFNet_Website_Banner_728_90_PROOF1

TSL Articles

  • Sterling National Bank Enters Definitive Agreement to Acquire $843 Million of Middle Market Commercial Equipment Finance Loans and Leases from Santander Bank, N.A.
    Sterling Bancorp (NYSE: STL), announced today that its principal subsidiary, Sterling National Bank, has entered into a definitive agreement to acquire a portfolio of middle market commercial equipment finance loans and leases from Santander Bank, N. A.
  • Richard_Hatley_Headshot Securing an Asset-Based Loan with the Borrower in the Driver’s Seat

    Corporate entities often turn to asset-based lending (ABL) as a strategic way to fund acquisitions, reduce capital volatility inherent in cash flow structures, or simply to accelerate growth. Secured by company assets, this alternative path to cash flow financing has historically followed the same process: companies choose a lending institution based on the most attractive deal structure, accept its deal terms, and undergo a field exam and asset appraisal to determine the appropriate borrowing terms.

  • Banks and Independents Report Strong Performance In Secured Finance in First Half of 2019
    As highlighted in the 2019 Secured Finance Market Sizing and Impact Study, the ABL market has, in recent times, benefited from a strong economy, low default rates, an abundance of complimentary capital and easing regulatory hurdles. For the first half of 2019 these tailwinds continued except for a brief disruption in the leveraged loan markets at the beginning of the calendar year.
  • Garrington Group of Companies Announces its Formation and Launch

    Garrington was established in January 2019 as part of a greater blueprint to develop a leading North American loan origination, underwriting and operations platform; handling asset-based lending, factoring, and specialty finance loans ranging from $1 million to $30 million. Garrington’s creation comes from its acquisition of Liquid Capital at the start of the year.

  • Wells Fargo Equipment Finance Appoints Specialty Industries Leaders

    Wells Fargo Equipment Finance (WFEF), a division of Wells Fargo Commercial Capital (WFCC), announced the appointment of three key leaders in its Specialty Industries business unit, led by Executive Vice President Byron Payne.   

  • MidCap Financial Announces Acquisition of PNC Bank's Franchise Finance Business

    MIDCAP FINANCIAL today announced that it has successfully closed the acquisition of substantially all of PNC Bank's Franchise Finance loan portfolio. In conjunction with the acquisition, six members of the Franchise Finance business have joined MidCap Financial including Bernard Lajeunesse, former Senior Vice President and General Manager of PNC Franchise Finance, who will be leading the new initiative.

  • Citizens Expands Capabilities by Adding Insurance Industry Banking Expertise
    Citizens Commercial Banking has hired two senior bankers as it increases its commitment to its financial institution and insurance industry clients. Peter Wesemeier, based in Atlanta, and Ben Los, based in Chicago, have joined Citizens as managing directors and will work with Boston-based David Bosselait as financial and strategic partners to Citizens’ existing and new financial institution and insurance industry clients. 
  • Don_Warrant_FreedMaxick Software as a Service Sales Tax: Wayfair’s Impact on SaaS and Digital Goods

    A recent Supreme Court case and related law changes in many states have resulted in significant new state sales tax obligations on many SaaS providers. It’s important to understand that these changes could result in new tax collection responsibilities on your business even in states where you have operated without them in the past.

    Executives need to act quickly to make sure that their existing operations are in compliance with the new rules and that their systems can adapt as sales growth and law changes trigger additional obligations.  

  • Forever 21 Files for Bankruptcy

    Forever 21 said it received $275 million in financing from its existing lenders with JPMorgan Chase Bank, N.A. as agent, and $75 million in new capital from TPG Sixth Street Partners, and certain of its affiliated funds.

  • Industrial Real Estate Executive, Mark Levy, Joins Hilco Redevelopment Partners as Executive Vice President - Industrial Acquisitions

    Mr. Levy will be responsible for expanding the acquisition team and strategy, with a focus on continuing to source and complete industrial redevelopment transactions throughout North America within Hilco’s real estate redevelopment operating company. Mr. Levy brings an impressive 28-year track record of having delivered and managed over 40 Million Square Feet of acquired real estate totaling $2.5 Billion in assets under management spanning over 5,000 Acres.

  • White Oak Commercial Finance Purchased a Portfolio of Asset-based Loans from Veritas Financial Partners

    White Oak Commercial Finance (“White Oak”), an affiliate of White Oak Global Advisors, announced today it has purchased a portfolio of asset-based loans from Veritas Financial Partners, a Boca Raton, FL based specialty finance company.

  • Second Avenue Capital Partners Provides $12.5 Million Revolver and Term Loan to Carlisle Etcetera, LLC

    Second Avenue Capital Partners, LLC (“SACP”) (www.secondavecp.com), announced today it has provided a $12,500,000 senior secured credit facility to Carlisle Etcetera, LLC (the “Company”), a direct-to-consumer women’s luxury apparel brand. 

  • A New Multinational Financing Frontier? Recent US Tax Guidance Opens New Avenues of Foreign Credit Support for Certain US Borrowings at an Uncertain Cost
    As lenders, borrowers and their advisors are well aware, the enactment of what is informally referred to as the Tax Cuts and Jobs Act (the “TCJA”) introduced fundamental changes to U.S. tax law that immediately impacted the structuring, terms and implications of financing arrangements. Although the TCJA’s initial effects were significant, the prospect of future material changes also existed in the form of implementing guidance. True to that promise, recently finalized regulations (the “Regulations”) promulgated under Section 956 may have the most dramatic effect yet on financing arrangements involving multinational companies.
     
  • North Mill Capital Announces the Funding of a $15,000,000 Total Credit Facility
    The funds were utilized to pay off the bank and provided the additional working capital the company was looking for to support their plans for growth.
  • Brett Garver photo We Do Know LIBOR Is Going Away—but Here’s What We Don’t Know Yet
    LIBOR (or the London Inter-bank Offered Rate), the most widely utilized reference rate for financial transactions in the world, will cease to be quoted at the end of 2021.  A mind-boggling $200 trillion in LIBOR-based financing contracts were outstanding in 2018.  Although the impending demise of LIBOR has been predicted for many years following the well-documented LIBOR price-fixing scandal that shook the banking industry, the reality of LIBOR’s demise has gone from a distant theoretical concept to a present and pressing issue for those in all areas of the finance industry. 
  • People's United Bank Establishes New Lender Finance Team as it Expands ABL Specialty Business

    People's United Bank, N.A. a subsidiary of People's United Financial, Inc. (NASDAQ: PBCT), has expanded its Commercial Specialty Business with the formation of a dedicated Lender Finance team. The team will be led by Patrick Lee, Managing Director, Head of Lender Finance, Asset-Based Lending, and be an extension of the Bank’s existing Asset-Based Lending group.

  • Siena Lending Group LLC Announces The Closing of a $17.7 Million Credit Facility for Greenfiber LLC
    Siena Lending Group LLC (“Siena”) announces the completion of a $17.7 million revolving line of credit and term loan for Greenfiber LLC (“Greenfiber”). The facility was used to refinance Greenfiber’s existing senior debt and support the company's working capital needs.
  • Gail Bernstein Gail K. Bernstein Reflects on Her Successful Career in ABL

    Gail K. Bernstein was executive vice president, national investment manager for PNC Business Credit, located in Los Angeles, CA. Prior to September 2013, she was the marketing manager of PNC Business Credit-Western Region, a de novo office that she opened in 1998. Besides her extensive experience in ABL, her career encompasses a specialization in international lending and investment management. She has traveled extensively in Latin America and is bilingual in English and Spanish.

    After 20 years with PNC, Bernstein retired on August 30, 2019. 

  • Heritage Global Inc. Launching Heritage Global Capital to Provide Specialty Financing Solutions

    Heritage Global Inc. (OTCQB: HGBL, CSE: HGP) (“Heritage Global,” “HGI” or “the Company”), a diversified financial services company providing asset-based acquisition, disposition, valuation, and lending services, today announced the launch of Heritage Global Capital, a new platform to provide specialty financing solutions to small- and medium-sized investors in charged-off and nonperforming asset portfolios and other asset-based classes.

  • David Rains photo Methods for Winning the Candidate on the First Interview

    We tend to believe that most people who go to an interview will automatically take the job if it is offered, but many times that is not the case. It is important to remember that while you are interviewing the candidate, the candidate is also interviewing both you and the company. Just as the company has a checklist of what it is looking for, so does the candidate. Here is a guide to some of the most tried and true ways for an interviewer to ensure a ‘Yes!’ from a candidate after only one interview.

SFNet Events