- Interview with Rich Gumbrecht, CEO of Secured Finance Network, formerly Commercial Finance Association
- InterNex Capital
- McGuireWoods Continues Texas Growth With Arrival of Debt Finance Partner Phyllis Young
- Rosenthal Provides $3M PO Finance Facility for NY-Based Importer
- Braemar Hotels & Resorts Announces New $75 Million Revolving Credit Facility
LBC Credit Partners ("LBC") provided senior secured credit facilities to support the refinancing of Sciens Building Solutions and the add-on acquisition of SmartWatch Security & Sound ("SmartWatch"). Sciens Building Solutions, a portfolio company of Huron Capital, was formed in 2016 to pursue a buy-and-build investment strategy in the fire detection and integrated solutions sector.
TSL Express Trending Story
In September, Octet announced that Bank of Queensland partnered with Octet on supply chain financing. As part of this relationship, Bank of Queensland will be providing a funding warehouse to Octet. The Octet-Bank of Queensland partnership is the first time Octet has aligned with a traditional lender in the business finance market. The deal sets a new standard for collaboration between the fintech and mainstream banking sectors.
TSL Express Daily Headlines & News
TD Bank Provides $2.4 Million SBA Loan to Support Purchase of The Kubert School
October 17, 2019TD Bank, America's Most Convenient Bank®, announced today that its U.S. Small Business Administration (SBA) Lending Group closed $2.4 million combined in 7(a) term and 7(a) Express loans for The Kubert School in Dover, New Jersey, which offers a fully accredited three-year course for cartoon and graphic arts.
Lighthouse Provides $4,000,000 Credit Facility
October 17, 2019Lighthouse Financial Corp. is pleased to announce the completion of a $4,000,000 credit facility for a North Carolina-based manufacturer and distributor of narrow fabrics. The transaction included a $3,650,000 revolving line of credit along with a $350,000 term loan.
Laurentian Bank Financial Group Appoints a new Executive Vice President, Capital Markets
October 17, 2019Mr. Gunderson has over 25 years of experience in the financial industry, largely in management positions. Until recently, he acted as Global Head of Trading Products at BMO Capital Markets where he held various management positions for more than a decade.
Jeffrey Johnson Joins Pinnacle Bank's Capital Finance Group as Executive Vice President
October 17, 2019Mr. Johnson began his asset-based lending career in 1991 with BFI Business Finance where he became Executive Vice President. He grew loan commitments to $150MM and expanded BFI's geographical footprint to 13 western states.
Tempur Sealy Announces Completion Of Amended Credit Facilities
October 17, 2019Tempur Sealy International, Inc. (NYSE: TPX) announced that it has successfully completed the closing of its amended revolving and term loan senior secured credit facilities. The amended $850 million senior secured credit facilities include a $425 million revolving credit facility and a $425 million term loan facility.
Sallyport Commercial Finance Facilitates Turnaround for a Printing and Packaging Firm
October 16, 2019Sallyport Commercial Finance provides a $1,500,000 accounts receivable facility to a company that focuses on high quality print for advertising and packing.
Macquarie Capital Makes Four Senior Appointments to Enhance Leveraged Finance Business
October 16, 2019Vincent Repaci to head asset-based lending group as Managing Director Matt Magnuson named Managing Director, Head of Credit Analytics Chad Hersch, Jodi Joskowitz appointed to senior trading, sales roles
Bibby Financial Services Canada Announces Deals
October 16, 2019Bibby Financial Services (BFS) provided $1.8M in funding to an apparel company based in Quebec that designs and provides quality jean-wear products at accessible pricing. Bibby Financial Services (BFS) extended $250K to a Quebec business that specializes in medical staffing for nursing homes.
CIT Northbridge Serves as Sole Lead Arranger on $40 Million Credit Facility for Hantover, Inc.
October 16, 2019CIT Group Inc. (NYSE: CIT) today announced that CIT Northbridge Credit, through its investment advisor CIT Asset Management LLC, served as sole lead arranger on a $40 million senior secured credit facility for Hantover Inc., a leading distributor of products to the food processing industry.
Hitachi Capital America Extends Relationship With Long-term Software Partner White Clarke Group
October 16, 2019Hitachi Capital America has announced its continuing software partnership with White Clarke Group, allowing the ongoing use of the CALMS Compass software solution to manage its floorplan/wholesale finance business. Hitachi Capital America’s relationship with White Clarke Group began in 2011 with the initial implementation of their CALMS Compass floorplan solution. At the time, Hitachi Capital America had been searching for an automated finance software solution to enhance both user and customer experience within their floorplan business.
Wells Fargo Realigns Commercial Capital Loan Originations Teams in Canada
October 16, 2019Wells Fargo Commercial Capital announced today the realignment of its Canada-based Equipment Finance and Asset-Based Lending (ABL) originations teams into a newly integrated business unit, harnessing the collective expertise to enhance the customer experience. Nicolas Lessard now heads the combined team, which expands his previous role leading Wells Fargo Equipment Finance’s manufacturing group in Canada.
Alantes Secures a $11,500,000 Term Loan for Entertainment Services Company
October 16, 2019With the always improving quality of cinema and film and changing technology, the demand for quality assistance is always in constant flux. The Company sets itself apart from the industry with its unparalleled customer service, industry knowledge, experience and product depth. However, with the ever-growing list of clients, the Company found itself needing additional working capital in order to purchase new products to service new orders.
Freight Factoring Company ITC - Invoice to Cash Announces the Relaunch of Their Brand and Website to Better Serve the Trucking Industry
October 16, 2019– ITC - Invoice to Cash, an Accutrac Capital Group Company, is excited to announce the launch of their new branding and accompanying website. ITC – Invoice to Cash provides fast and dependable financial solutions to small and medium sized trucking companies. This refreshed branding was done to better serve the North American trucking industry – with a focused effort to deliver services catered to the Hispanic market.
Prestige Capital Retains Midwest Sales Director
October 16, 2019Prestige Capital, a 34-year-old specialty finance company based in Ft. Lee, NJ recently hired Stacey Huddleston of Kansas City, Missouri to join its team as Sales Director, Midwest. Mr. Huddleston has almost two decades worth of experience in the financial services sector specifically in the Commercial & Industrial and asset-based lending spheres.
Comvest Credit Partners Announces the Recapitalization of Global Holdings
October 16, 2019Comvest Credit Partners (“Comvest”) acted as Administrative Agent and Joint Lead Arranger in a senior credit facility (the “Financing”) to support New State Capital Partners’ (“New State”) recapitalization of Global Holdings Acquisition, LLC. (“Global Holdings” or the “Company”).
ILA Closes $3 Million Credit Facility with BMO Bank of Montreal
October 16, 2019iLOOKABOUT Corp. (TSXV:ILA; OTCQB:ILATF) (“ILA” or “the Company”), is pleased to announce the closing of a credit facility with Bank of Montreal’s Technology & Innovation Banking Group ("BMO"). The facility consists of a $1.5 million term loan (the “Term Loan”) and a $1.5 million revolving credit facility (the “Operating Facility” or together, the "Facilities"), both of which mature in October 2022.
Lawson Products Announces New Credit Facility
October 16, 2019Commitments upsized to $100 million, plus an accordion feature. Further supports acquisition and organic growth strategies. JPMorgan Chase and Bank of America Join Bank Group
Endava Announces Completion of New Corporate Revolving Credit Facility
October 16, 2019On October 12, 2019, Endava plc (the “Company”) along with Endava (UK) Limited, Endava Inc. (the “Original Borrowers”) and Endava LLC (together with the Original Borrowers, the “Original Guarantors”) entered into a new multicurrency revolving credit facility (the “Multicurrency Revolving Credit Facility”) with HSBC Bank plc as agent
Rosenthal Provides $5 Million Dual Production Finance and Asset Based Lending Facility for Specialized Horticulture Lighting Manufacturer
October 15, 2019Rosenthal & Rosenthal, Inc., the leading independent factoring, asset based lending and purchase order financing firm in the United States, today announced the completion of a recent combined $5 million inventory production and asset based lending deal...
Electrical Installations Specialist “Worthy” of $3MM Receivables, Inventory and Equipment ABL
October 15, 2019Worthy Lending LLC (WL) closed a multi-collateral ABL revolving finance facility for a northeastern electrical installation specialty company.
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The Secured Lender
SFNet's 75th Annual Convention Issue.