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  • Broadmark Realty Capital Announces New Revolving Credit Facility
    February 25, 2021
    Broadmark Realty Capital Inc. (NYSE: BRMK) (the “Company”), an internally managed secured real estate finance company, today announced that the Company has obtained a new $135 million secured revolving credit facility with a three-year term. JPMorgan Chase Bank, N.A. acted as administrative agent for the lending group, which included Barclays Bank PLC, Axos Bank, VNB New York, LLC and China CITIC Bank International Limited.
  • Old Hill Partners Completes a $5.1 million Senior Secured Financing for a Shipping Container Owner-Lessor
    February 25, 2021
    Old Hill provided $5.1 million in the form of a senior secured drawdown facility to a company that acquires and leases standard 40’ shipping containers. Its lessees include shippers with trade routes in Asia and the Middle East. Leasing and container management services are provided to the borrower by managers in Hong Kong and Singapore. Security for the facility consists of the new containers, the leases, receivables from the leases, a stock pledge of the borrower, and guarantees.
  • Bridge Bank Extends $12,000,000 Credit Facility to Ellevation
    February 25, 2021
    Bridge Bank today announced it has extended a $12,000,000 credit facility to Ellevation, a cloud-based software platform serving nearly 1,000 school districts and supporting more than 1.5 million students across the country. Ellevation focuses specifically on supporting the fastest-growing population of K-12 students, English language learners by helping school districts manage their English language programs through a compliance, data and instructional planning platform, providing resources to build teacher capacity and student-facing programs to teach academic language.
  • Big 5 Sporting Goods Corporation Announces Entry Into New Five-Year Credit Facility
    February 25, 2021
    Big 5 Sporting Goods Corporation (Nasdaq: BGFV) (the “Company,” “we,” “our,” “us,” “Big 5”), a leading sporting goods retailer, announced today that it has entered into a new loan agreement with Bank of America, N. A., as administrative agent and lender (the “Loan Agreement”). The Loan Agreement has a five-year term which matures in February 2026 and provides for a secured revolving credit facility with aggregate committed availability of up to $150 million.
  • Global Net Lease Announces Upsized Credit Facility, $50 Million Commitment From Barclays Brings Facility Total To $1.2 Billion
    February 25, 2021
    Global Net Lease, Inc. (NYSE: GNL) ("GNL" or the "Company") announced today that Barclays has committed $50 million to the Company's revolving credit facility, bringing total commitments to approximately $1.2 billion. The increase in commitments was made, at the request of the Company, pursuant to the credit facility's uncommitted "accordion feature."
  • Startek Announces $185 Million Debt Refinancing
    February 25, 2021
    Startek, Inc. (NYSE: SRT) ("Startek" or the "Company"), a global provider of customer experience management solutions, today announced that CSP Alpha Holdings Pte. Ltd., a wholly-owned subsidiary of the Company, has successfully completed a debt refinancing with a newly secured $185 million senior debt facility, comprising a $165 million term loan and a $20 million revolving credit facility. Borrowings under the new senior debt will bear a tiered interest rate, which is based on the Company’s consolidated net leverage ratio and is initially set at LIBOR plus 450 basis points.
  • Agencies Issue Shared National Credit Review
    February 25, 2021
    Credit risk for large, syndicated loans has increased over the last year, according to the 2020 Shared National Credit (SNC) Review released by federal bank regulatory agencies today. The elevated risk is largely attributed to the effects of COVD-19. While risk has increased, many agent banks have strengthened their risk management systems since the prior downturn and are better equipped to measure and mitigate risks associated with loans in the current environment.
  • Petal Closes $125 Million Debt Facility From SVB & Trinity Capital
    February 25, 2021
    Petal, a credit card startup pioneering “Cashflow Underwriting” as an alternative to traditional credit scoring, announced on Wednesday it has closed a new committed debt facility, totaling more than $125 million. According to Petal, the new facility includes $100 million from Silicon Valley Bank (SVB), the bank of the world’s most innovative companies and investors, and $26.6 million from Trinity Capital Inc.
  • Brightwood Capital Appoints Michael Novoseller to Senior Investment Role
    February 25, 2021
    Brightwood Capital Advisors, a leading private credit firm focused on providing capital to growing North American middle-market businesses, today announced that Michael Novoseller has rejoined the firm as a senior member of the investment team.
  • CVC Credit Supports Further Growth at Calibre Scientific with an Incremental $57 Million Multicurrency Credit Facility
    February 25, 2021
    CVC Credit is pleased to announce that it has further supported life sciences and diagnostics business, Calibre Scientific, by leading an incremental $57 million multicurrency first lien credit facility to help fuel its ongoing global acquisition strategy. Calibre Scientific is owned by investment firm StoneCalibre. CVC Credit originally provided a $92 million multicurrency first lien credit facility for Calibre Scientific in June 2020.
  • Peak Rock Capital Partners with FinTech Platform NepFin to Provide Capital to Middle Market and Growth-Oriented Businesses
    February 25, 2021
    An affiliate of Peak Rock Capital LLC ("Peak Rock"), a leading middle-market private investment firm, announced today that it has partnered with Neptune Financial ("NepFin") to expand capital access and provide financing solutions to middle market and growth-oriented businesses. The relationship will combine Peak Rock's flexible capital base and best-in-class investment expertise with NepFin's business intelligence and sourcing capabilities to bring financing solutions to a wide range of businesses.
  • First Business Bank Closes $8.4 Million Turnaround Asset-Based Lending Financing
    February 25, 2021
    Mike Colloton, Vice President – Asset-Based Lending at First Business Specialty Finance, LLC, a subsidiary of First Business Bank, announces a recently closed and funded $8,400,000 revolving line of credit facility, real estate term loan, and equipment term loan for a manufacturer/distributor of restaurant equipment in Ohio.
  • Janice Ibey Joins Pacific Western Bank as SVP, Business Development Officer for Asset-Based Lending in Southern California
    February 25, 2021
    Pacific Western Bank is pleased to announce that Janice Ibey has joined the Bank as a Senior Vice President, Business Development Officer on its asset-based lending team. She will be located in Orange County, California. Janice will expand the Bank’s efforts to deliver asset-based lending solutions to middle-market businesses from the Central Valley to San Diego and beyond.
  • Republic First Bancorp, Inc. Chairman Vernon Hill Named CEO
    February 25, 2021
    Republic First Bancorp, Inc. (NASDAQ: FRBK), the parent company of Republic Bank, today announced that Chairman Vernon W. Hill has been named to the additional role of Chief Executive Officer at both the Holding Company and the Bank. Harry D. Madonna, the founder of the bank, will remain as President and Chairman Emeritus of Republic First Bancorp, Inc.
  • CohnReznick Wins Turnaround Atlas Awards Out-of-Court Restructuring of the Year
    February 25, 2021
    CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that it received a second major industry award for its restructuring work for Allentown, Pennsylvania-based Coordinated Health. The 12th Annual Turnaround Atlas Awards recently recognized CohnReznick with its Out-of-Court Restructuring of the Year Award (mid-markets).
  • Pinnacle Capital Finance Provides a $4 Million Line of Credit Coupled with a $2.5 Million Inventory Line to a Renewable Energy Company
    February 24, 2021
    Pinnacle Capital Finance is happy to announce the issuance of a $4MM line of credit with a $2.5 million inventory sub-feature to a power and cooling systems manufacturer. This Southern California company burst onto the market in the 1970’s with their solar powered vaccine refrigerator/freezer that has been utilized in various isolated areas of the world. They have since successfully applied their solar related expertise by expanding into the renewable energy sector.
  • Gateway Trade Funding Closed 9 PO Facilities for US and Canadian Resellers, Distributors, Suppliers, and Importers
    February 24, 2021
    Gateway Trade Funding, a PO and Trade Financing company, is happy to announce that it has recently closed the following purchase order facilities: $1,500,000 PO facility for a US reseller of hand sanitizer products selling to US retailers; $750,000 PO facility for a US distributor of men’s and women’s watches selling to US subscription box companies.
  • Paul Hastings Welcomes Experienced Finance Lawyer Stacy Hopkins Back to the Firm
    February 24, 2021
    Paul Hastings LLP, a leading global law firm, announced today that experienced finance lawyer Stacy Hopkins has rejoined the firm, resident in the firm’s Los Angeles office. She joins from Wells Fargo Commercial Capital (WFCC), where she served as Senior Vice President in the Healthcare Finance group.
  • Hitachi Capital America’s Jacob Fahl Named Funding & Portfolio Services’ Vice President, Don Link Retires
    February 24, 2021
    Hitachi Capital America Vendor Services (HCAVS), an organization that has been providing manufacturers and distributors with creative and competitive vendor financing solutions for over 20 years, is pleased to announce the promotion of Jacob Fahl to Vice President, Funding & Portfolio Services. Fahl who has replaced Don Link upon his retirement in mid-January, joined the organization in 2014, as an Opportunity Development Leader.
  • North Avenue Capital Finances a $15 Million Business & Industry Guaranteed Loan for Texas Green Star - Hydroponics
    February 24, 2021
    North Avenue Capital (NAC), one of the leading providers of USDA-backed commercial loans, is helping Texas Green Star (TGS) convert a 320-acre former commercial nursery facility into an innovative, state-of-the-art hydroponics growing operation with a focus on producing fresh leafy greens. Located north of Dallas in Sanger, Texas, a city with a population of fewer than 10,000 residents, this $15 million Business & Industry Guaranteed Loan will equip TGS to put a previously abandoned property to work producing nutritious vegetables year-round while avoiding the challenges that traditional agricultural producers face when growing out in the elements.