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
Earlier this year, SFNet announced its second CrossBorder Finance Essay Contest, sponsored by Goldberg Kohn Ltd. Members of SFNet’s International Finance and Development Committee judged the essay submissions on content, originality, clarity, structure and overall contribution to furthering and expanding understanding and discourse within the field of cross-border finance.
This essay won first place. The authors of the winning essays have been invited to participate on a panel at SFNet’s 79th Annual Convention in Orlando, FL, November 15-17. This panel will take place Friday at 10 a.m.
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
Earlier this year, SFNet announced its second Cross-Border Finance Essay Contest, sponsored by Goldberg Kohn Ltd. Members of SFNet’s International Finance and Development Committee judged the essay submissions on content, originality, clarity, structure and overall contribution to furthering and expanding understanding and discourse within the field of cross-border finance. This essay won second place and focuses on how tweaking the borrower’s customer contracts can strengthen your position as secured lender.
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.
Commercial Finance Partners Promotes Buanno to President
Oct 30, 2023
Commercial Finance Partners, a Boca Raton-based direct lender and debt advisory firm, has promoted John Buanno to President. John Buanno has been with Commercial Finance Partners since 2019, leading the growth of the company’s direct lending platform; tripling the client volume since his arrival.
The State of Retail: How Did We Get Here and What’s on the Horizon?
Oct 25, 2023
While retail data reported at the mid-summer mark pointed to a strong labor market, steady consumer spending in certain categories and retail sales up from last year for several straight months, the data only tells one side of the story. The numbers are merely inching forward, as growth across many sectors has been sluggish, if not altogether fl at. This year has unexpectedly been a mixed bag for the retail and credit market, and with continued volatility and an overall lackluster economic forecast, businesses and lenders must be prepared for any scenario.
Cambridge Savings Bank Hires Michael Richardson as Vice President, Relationship Manager – Asset-Based Lending
Oct 25, 2023
Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $6 billion in assets, today announced the appointment of Michael Richardson to the role of Vice President, Relationship Manager, on the Asset-Based Lending (ABL) team. Richardson will be responsible for managing several of the bank’s ABL relationships, while leveraging his vast network to identify and close on new lending opportunities.
Staffing: An Industry with Many Facets
Oct 23, 2023
In May of 2022, when the author became CEO of Access Capital, the Company already had a long history of being a leading non-bank lender to the staffing industry. In this article, written with the help of Raphael Torres, head of business development, and Jessica Sanchez, director of marketing, Terry Keating will share some thoughts about the industry that he has learned through his journey over the past 18 months.
eCapital Appoints David Gladu as President, Head of Factoring Group, North America
Oct 23, 2023
eCapital Corp. ("eCapital" or "the Company"), a leading finance provider in North America and the UK, is proud to announce the appointment of David Gladu as President, Head of Factoring Group, North America. In the new role, Gladu will lead the expansion and advancement of eCapital's substantial factoring portfolio and divisional initiatives.