- Eastern Bank Announces The Sourcing Group As A Commercial Banking Customer
- TSL Feature Articles
- Bank Economists: Credit Outlook Improves Amid Continued Softening
- Republic Business Credit Supports Growth of UK-based Automotive Electronics Equipment Manufacturer with $3.5 Million Factoring Facility
- Monroe Capital Supports Renovus Capital Partners’ Acquisitions of K2 Services, Epiq GBTS and Forrest Solutions
TSL Express Daily Articles & News
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Mitsubishi HC Capital America Boosts Commercial Finance Credit Team with Two New Executive Hires
Mitsubishi HC Capital America, the largest non-bank, non-captive finance provider in North America, is pleased to announce the expansion of its Commercial Finance Credit team with the addition of two seasoned credit professionals. Cary Downer joins as Vice President - Credit, bringing 27 years of industry experience, and Todd Thompson joins as Vice President - Credit Officer, with over 20 years of experience.
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In June 2023, First Citizens Bank named noted commercial banking executive Jim Hudak as president of its Commercial Finance group, which it acquired in its merger with CIT Group in early 2022.
With more than 20 years as a commercial finance executive, Hudak is known throughout the industry for his leadership capabilities and strong commitment to client support and satisfaction.
Hudak oversaw CIT's commercial finance businesses from 2008 to 2019, during which time many grew to become leading lenders in their industry verticals.
Today, settled back into an expanded version of the role he once occupied, he discusses the state of the business, the impact of the First Citizens merger and his strategy for 2024 and beyond.
TSL Express Daily Headlines & News
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Marco Prescribes $10 Million ABL Facility for Pharma Distributor
January 14, 2025Marco has recently funded a $10 million Asset-Based Lending (ABL) revolving facility for a pharmaceutical wholesaler that sells to independent pharmacies across the US. This significant financing, involving loans against accounts receivable and inventory, replaces a bank loan that restricted the company’s growth, and highlights Marco’s commitment to supporting all-sized businesses with innovative financial solutions.
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Siena Lending Group LLC Closes $40 Million Credit Facility For Feradyne Outdoors LLC
January 14, 2025Siena Lending Group LLC ("Siena"), a leading provider of asset-based lending solutions, is pleased to announce the closing of a new senior secured credit facility for FeraDyne Outdoors LLC ("FeraDyne" or the "Company"), a manufacturer and wholesaler of leading brands in outdoor hunting gear and archery.
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Ramirez Asset Management Acquires $500 Million Private Credit Strategy Team From Avenue Capital Group
January 14, 2025Ramirez Asset Management, Inc. (“RAM”), a $12+ billion fixed income and equity investment manager serving institutional investors and high net worth investors, recently acquired the private credit opportunities strategy team and their assets from hedge fund manager Avenue Capital Group.
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Abacus Finance Provides Senior Debt Financing to Support the Acquisition of Senproco and Groomer’s Choice by Harbour Group
January 14, 2025Abacus Finance Group, LLC – a leading provider of cash flow-based, classic senior debt for sponsor-led acquisitions of middle-market companies – today announced that it served as Senior Secured Credit Facilities Administrative Agent and Lead Arranger to support the acquisition of Senproco and Groomer’s Choice by Harbour Group. Also, Abacus Finance made an equity co-investment in Senproco and Groomer’s Choice.
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NXT Capital Closes Senior Credit Facility in Support of Ascend Capital Partners’ Acquisition of Unison Therapy Services
January 14, 2025NXT Capital announced today that it closed a senior credit facility in support of Ascend Capital Partners’ acquisition of Unison Therapy Services. NXT Capital acted as Joint Lead Arranger and Joint Bookrunner on this transaction.
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SFNet Member Spotlight: Republic Capital Access, LLC
January 13, 2025Republic Capital Access is a commercial finance company exclusively for government contractors.
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Verastem Oncology Announces Debt Refinancing with Oberland Capital
January 13, 2025Verastem Oncology (Nasdaq: VSTM), a biopharmaceutical company committed to advancing new medicines for patients with RAS/MAPK pathway-driven cancers, today announced a new credit facility for up to $150 million along with an equity investment of $7.5 million with Oberland Capital Management LLC (Oberland Capital).
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Inhibrx Biosciences Announces Loan Agreement with Oxford Finance
January 13, 2025Inhibrx Biosciences, Inc., a biopharmaceutical company with two programs in ongoing clinical trials, today announced it entered into a loan and security agreement (the "LSA") with Oxford Finance LLC ("Oxford", together with certain of its affiliates party thereto, the "Lenders"), pursuant to which the Lenders provided a five-year term loan facility for up to $150 million.
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Encina Private Credit Provides $70 Million First Out Commitment as Administrative Agent in Senior Secured Credit Facility To Ipsen International Holdings, GmbH
January 13, 2025Encina Private Credit, LLC (“EPC”) is pleased to announce that it has served as Administrative Agent on a Senior Secured Credit Facility supporting Quadriga Capital portfolio company Ipsen International Holdings, GmbH (“Ipsen”).
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Republic Business Credit Fuels Growth in Natural Bath Products Market with $1.5 Million E-Commerce Loan
January 13, 2025Republic Business Credit continues its commitment to the natural products industry by providing a $1.5 million asset-based loan credit facility to a leading manufacturer of bath, shower and all-natural aromatherapy solutions.
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CohnReznick Brings on Financial Services Partner Ty
January 13, 2025CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that Angela (Angie) Ty has joined the firm as a Financial Services Partner. Based in the San Francisco Bay Area, Ty specializes in the alternative investments industry with a specific focus on private equity, venture capital, and hedge funds.
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Goosehead Insurance, Inc. Announces New $300 Million Term Loan B and Declares a One-Time Special Dividend of $5.91 Per Share
January 13, 2025Goosehead Insurance, Inc. (“Goosehead” or the “Company”) (NASDAQ: GSHD), a rapidly growing independent personal lines insurance agency, today announced that its subsidiary, Goosehead Insurance Holdings, LLC, has closed on a $300 million term loan B and $75 million revolving credit facility
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Medical Properties Trust Comments on Prospect Restructuring
January 13, 2025Medical Properties Trust, Inc. (the “Company” or “MPT”) (NYSE: MPW) today issued the below statement in response to Prospect Medical Group’s (“Prospect”) decision to commence an in-court restructuring process under Chapter 11 of the U.S. Bankruptcy Code.
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Brex Secures $235 Million Credit Facility with Citi and TPG Angelo Gordon to Accelerate Card Product Growth
January 13, 2025Brex, the modern corporate card and spend management platform for startups and enterprises, today announced the closing of a two-year, $235 million revolving credit facility. Citi serves as senior lender for the credit facility, joined by TPG Angelo Gordon as a participating lender.
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Legacy Corporate Lending Provides $25 Million Asset-Based Credit Facility to 888VoIP
January 13, 2025Legacy Corporate Lending, LLC (“Legacy”), an independent asset-based lending (ABL) company focused on serving the needs of middle market companies across North America, today announced that it provided a $25 million asset-based credit facility to American Technologies, LLC (doing business as “888VoIP”) (or “the Company”).
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Gordon Brothers Provides Peavey Industries LP C$155M Financing Package & Rationalization Support
January 13, 2025Gordon Brothers, the global asset experts, has provided Peavey Industries LP (Peavey) a financing package of up to C$155 million, consisting of a C$105 million first-lien revolving credit facility, a C$30 million first-in, last-out term loan, and a C$20 million consignment program, to support Peavey’s go-forward strategy.
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nFusion Capital Provides $8 Million Factoring Facility That Supports Strategic Growth
January 13, 2025nFusion Capital announced it provided an $8 million factoring line of credit for a private equity-owned and well-established print house that specializes in custom labels and printing based in Texas
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Brookridge Funding Announces Closing of $4,050,000 PO Facilities
January 13, 2025Brookridge Funding is proud to announce the closing of $4,050,000 of purchase order facilities for four new clients. The above companies were referred to Brookridge by their factors and ABL lenders.
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Brookridge Funding Announces Closing of $4,050,000 PO Facilities
January 13, 2025Brookridge Funding is proud to announce the closing of $4,050,000 of purchase order facilities for four new clients. The companies were referred to Brookridge by their factors and ABL lenders.
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Brookridge Funding Announces Closing of $4,050,000 PO Facilities
January 13, 2025Brookridge Funding is proud to announce the closing of $4,050,000 of purchase order facilities for four new clients. The companies were referred to Brookridge by their factors and ABL lenders.
The Secured Lender
SFNet's The 81st Annual Convention Issue
