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Michael D. Sharkey is the president of Fifth Third Business Capital. He oversees a nationwide market with regional offices across the United States and Canada. Sharkey is past president and chairman of Secured Finance Network. He is also past president of the American Brain Tumor Association. Sharkey is a graduate of Rutgers University and J. L. Kellogg Graduate School of Management at Northwestern University. Here he discusses his long career, the outlook for the industry and Fifth Third’s acquisition of MB.
Capital One executives discuss how innovation in the food & beverage sector are making it an industry lenders don’t want to ignore.
Money-laundering statutes, restrictive banking regulations and the stigma surrounding the cannabis industry have caused established banks and well-known independent secured lenders to stay clear, but the possibility of new regulations may ease their fears.
Is there a British coup occurring? Well, not really. As one demonstrator from the Shires pointed out on prime time TV, “I don’t see any tanks.” Of course there are no tanks; this is England and in times of crisis we are more likely to be found handing out tea and sympathy than storming the Bastille.
What has happened though, is that we have all learned some new phrases and words and even the historic context of them:
Sterling National Bank's Asset Based Lending Group provided senior secured credit facilities totaling $14,500,000 to Living Well Lodges Management Company, LLC. (“Living Well” or the “Company”).
Union Bank today announced that it has hired four technology industry specialists to join the Technology Banking Group, all based out of the San Jose office. The appointments reflect a continued focus on expanding Union Bank's technology vertical to meet the needs of both business banking and middle market clients.
The credit facility has an accordion feature, which allows the Company to increase the size of the credit facility to up to $500 million. On the closing date, the Company drew down $215 million of notes from the credit facility.
With over $370 trillion of global financial contracts referencing LIBOR (London Inter-bank Offered Rate), many oil and gas companies are curious about how the phase-out of LIBOR by 2021 could impact their organization. Many companies are beginning to ask how this transition will impact their organization and what steps can be taken now. The following is a discussion of:
CIT Group Inc. (NYSE: CIT) today announced that David Harnisch will join the company as president of Commercial Finance, effective Sept. 23, 2019. Harnisch will succeed the current president of Commercial Finance Jim Hudak who has elected to retire following a 20-year career at CIT, effective Sept. 3, 2019.
Fifth Third Bancorp (Nasdaq: FITB) announced today that Peter Gruebele has joined Fifth Third as senior vice president and San Francisco market executive. In this role, he will report to Joseph Yurosek, California market president for Fifth Third Bank.
PNC Bank, National Association, announced today the closing of an $18.5 million senior secured credit facility for Sandusky, Ohio-based August Corso Sons, Inc. (Corso). PNC Bank, N.A., served as administrative agent.
Capital One has entered into an agreement to acquire KippsDeSanto & Co. a leading investment banking firm focused on serving growth-oriented aerospace/defense, government services and technology companies. Based in Tysons Corner, Va. in the Washington, DC region, KippsDeSanto has a national practice specializing in merger and acquisition advisory services.