- US Bank Asset Based Finance
- Encina Equipment Finance Upsizes Senior Credit Facility to $250 Million in Support of Continued Portfolio Growth
- Rosenthal Closes $1M Production Finance Deal for Women's Apparel Company
- Fair Closes $500 Million to Unlock Rideshare Supply and Scale Subscriptions
- Fintech Firm OppLoans Announces Its First Bank-Led Credit Facility
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.
TSL Express Trending Story
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.
TSL Express Daily Headlines & News
Halcón Announces Court Confirmation of Prepackaged Plan of Reorganization
September 26, 2019Halcón Resources Corporation (OTC PINK: HKRS) (“Halcón” or the “Company”) announced that the United States Bankruptcy Court for the Southern District of Texas confirmed the Company’s prepackaged plan of reorganization (the “Plan”) under chapter 11 of the Bankruptcy Code and expects to emerge from bankruptcy within the next few weeks, subject to the satisfaction of all requisite closing conditions.
Espresso Capital Provides a $5 Million Credit Facility to New York-based Vidrio Financial
September 26, 2019Espresso Capital announced today that it has provided New York-based Vidrio Financial, an award-winning financial technology platform for allocators to external managers, with a $5 million revolving debt facility. The company plans to use the capital to build its sales and marketing efforts and accelerate growth
Apollo Global Management Announces Leadership Changes
September 26, 2019Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, “Apollo”) today announced several leadership changes across its investing business. Matt Nord and David Sambur have been promoted to co-lead partners of private equity. Olivia Wassenaar and Geoff Strong were promoted to co-leads of natural resources. Dylan Foo joined as co-lead of infrastructure.
Sallyport Commercial Finance Provides Turnaround Solution to an Apparel Company
September 25, 2019The company produces a variety of clothing, ranging from lifestyle to work apparel. In addition to assisting in product design and development, the business also offers their customers a range of labeling and packaging referral services.
Beacon Roofing Supply Announces $300 Million Senior Secured Notes Offering
September 25, 2019Beacon Roofing Supply, Inc. (Nasdaq: BECN) (“Beacon” or the “Company”) announced today the commencement of a private offering of $300.0 million aggregate principal amount of senior secured notes due 2026 (the “2026 Senior Notes”).
Pacific Mercantile Bank Provides $3.0 Million Credit Facility to Delicate Productions
September 25, 2019Pacific Mercantile Bank (“the Bank”), the wholly owned subsidiary of Pacific Mercantile Bancorp (NASDAQ: PMBC), today announced that it has provided a $3.0 million credit facility to Delicate Productions, consisting of a term loan and a revolving line of credit. In addition to the financing, Delicate Productions utilizes a full suite of Pacific Mercantile Bank’s depository products and treasury management services.
Griffin Announces New Line of Credit for Acquisitions and Extension of Revolving Credit Line
September 25, 2019Griffin Industrial Realty, Inc. (NASDAQ: GRIF) (“Griffin”) announced today that it entered into a new $15.0 million line of credit (the “Acquisition Credit Line”) with Webster Bank, N.A. (“Webster Bank”) to provide financing for real estate acquisitions.
Sean Fitzgerald Joins Houlihan Lokey’s Capital Markets Group
September 25, 2019Houlihan Lokey (NYSE:HLI), the global investment bank, announced today that Sean Fitzgerald has joined the firm as a Managing Director in the Capital Markets Group. Mr. Fitzgerald will focus on providing customized equity capital solutions to the firm’s corporate and financial-sponsor-backed clients for acquisition finance, growth capital, and balance sheet recapitalizations.
Revolution Microelectronics Closes $2.5 Million Line of Credit to Increase Inventory of Record-Breaking Lighting Technologies
September 25, 2019Revolution Microelectronics, producer of record-breaking horticultural LED lighting and controls, announced today that the Company has closed on a $2.5 million credit facility to stock its new 30,000 square foot distribution center in Atlanta.
Ares Commercial Finance Adds West Coast Managing Director
September 25, 2019Ares Commercial Finance (“ACF”) announced that James Paterson has joined as Managing Director, Business Development Officer in Los Angeles, where he will focus on originating asset-based lending opportunities on the West Coast. Mr. Paterson reports to John Nooney, Managing Director at ACF.
Qorvo Announces Proposed $300 Million Senior Notes Offering
September 25, 2019Qorvo® (QRVO), a leading provider of innovative RF solutions that connect the world, today announced that it proposes to offer, subject to market conditions and other factors, $300 million principal amount of senior notes due 2029 (the “Notes”) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to certain non-U.S. persons in accordance with Regulation S under the Securities Act.
Tradewind Announces Export Factoring Facility for Electronics Company in Hong Kong
September 25, 2019Tradewind has closed a $2 million export factoring facility for an electronics company based in Hong Kong that sells items such as smart watches, smart bands, and tablets to traders and retailers globally. The company is able to extend open account payment terms to their customers and continue to grow their business with Tradewind’s funding in place.
Holley Cold Storage & Produce Co. and Holli-Pac, Inc. Seeks Buyer
September 25, 2019Holley Cold Storage Fruit & Produce Co. and Holli-Pac, Inc., two cold storage facilities with co-packing lines, have retained Equity Partners HG, in conjunction with Tranzon Properties of NY, LLC, to seek a buyer for the business and/or real estate of both locations either independently or combined.
J D Factors Announces Factoring Facilities
September 25, 2019
CIT Serves as Sole Lead Arranger on Financing for Technology Consulting and Services Firm
September 24, 2019CIT Group Inc. (NYSE: CIT) today announced that its Technology, Media and Telecommunications business has arranged an $18 million financing package for Denovo Ventures LLC.
TAB Bank Provides Trucking Company in Montana with a $1 Million Revolving Credit Facility
September 24, 2019TAB Bank is pleased to announce it has provided a $1 million revolving credit facility for a trucking company based in Montana. The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs.
FSW Funding Announces New Director of Operations
September 24, 2019FSW Funding, a Phoenix-based company that specializes in financing solutions for small and mid-size businesses, recently hired Todd Weber as Director of Operations. Weber will manage the FSW factoring and asset based lending portfolios to minimize risk and increase operational efficiency.
Moritt Hock & Hamroff Partner Leslie Berkoff Appointed by Court of Appeals for the Second Circuit to Mediator Panel
September 24, 2019The appointment is for a three-year term that begins on October 1, 2019 at which time Ms. Berkoff will join a select group of highly-experienced mediators assisting the Second Circuit with appellate disputes.
Great Rock Continues Expansion, Adds Northeast Originator
September 24, 2019Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced Randy Lederman has joined the firm as Managing Director of Originations.
Burr & Forman Expands in Wilmington Delaware
September 24, 2019Burr & Forman announces the addition of Russell Heller to the firm’s Wilmington, Delaware office as an associate. He joins the Creditors’ Rights & Bankruptcy Practice Group, where he will work on bankruptcy and restructuring engagements.
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