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Gibraltar Equipment Finance (GEF) Expands East Coast Business Development with SVP Steve Sanders
Gibraltar Equipment Finance (GEF) is proud to announce the expansion of its Originations team with the addition of Steve Sanders, who will be serving the East Coast as SVP of Business Development. GEF’s new hire comes on the heels of GEF’s market momentum with its growing funding activity.
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SFNet Reports Confidence in Asset-Based Lending Market
The third quarter saw continued confidence in the asset-based lending market, according to data released by the Secured Finance Network, and that was welcome news as the country wrestles with inflation, rising interest rates and a slowed economy.
SFNet surveyed bank and non-bank asset-based lenders (ABLs) on key indicators for its quarterly Asset-Based Lending Index and SFNet Confidence Index.
TSL Express Daily Headlines & News
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First Citizens Expands Middle Market Banking to Serve Northeastern U.S.
July 29, 2024First Citizens Bank today announced that its Middle Market Banking group is expanding in the Northeastern U.S., leveraging its deep middle market expertise to provide a full-suite of financial solutions to midsize businesses across the region.
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Wingspire Capital Launches Healthcare Finance Platform
July 29, 2024Wingspire Capital announced today the expansion of its product mix with the creation of a dedicated Healthcare Finance capability that will offer a full suite of flexible capital solutions delivered with Wingspire’s trademark level of creativity, flexibility, responsiveness and professionalism.
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NXT Capital Closes $202 Million Senior Credit Facility in Support of Kian Capital Partners’ Recapitalization of SPATCO Energy Solutions
July 29, 2024NXT Capital announced today that it closed a $202 million senior credit facility in support of Kian Capital Partners’ recapitalization of SPATCO Energy Solutions. NXT Capital acted as the Joint Lead Arranger and Joint Bookrunner on this transaction.
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Amerisource Business Capital Closes $4,500,000 Working Capital Facility for Equipment Manufacturer
July 29, 2024Amerisource Business Capital is pleased to announce the successful closing and funding of a $4,500,000 working capital facility for an equipment manufacturer located in the Midwest.
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BHI Continues its Support to Insignia International, Providing $22.5 Million As An Integral Part of The Company’s Global Credit Facility Refinancing
July 29, 2024BHI, the U.S division of Bank Hapoalim and a full-service commercial bank, today announced it has joined a global credit facility for Insignia International (the “Company”) as they continue to grow and expand their operations. As part of the transaction, BHI has provided a $22.5 million pro rata share in the overall facility.
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Amerisource Business Capital Closes $6,000,000 Working Capital Facility for Manufacturer
July 29, 2024Amerisource Business Capital announced the closing and funding of a $6,000,000 working capital facility for a manufacturer of truck bed covers and liners based in the Northeast.
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Rainstar Capital Group Welcomes Chris Griffith
July 25, 2024Rainstar Capital Group, a Grand Rapids, Michigan based national debt advisory firm announced today it had hired Chris Griffith to its middle market team as Managing Director to head up the Florida market.
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SSG Advises the Chapter 7 Trustee of Gelesis Holdings Inc. in the Sale of Substantially All Assets to an Affiliate of
July 25, 2024SSG Capital Advisors, LLC (“SSG”) served as the investment banker to George L. Miller, the Chapter 7 Trustee (“Trustee”) of Gelesis Holdings Inc. and certain affiliates (collectively, “Gelesis” or the “Company”), in the sale of substantially all assets to an affiliate of Theras Group S.r.l., T-Investments S.r.l., and Andromeda Energy S.r.l. The transaction closed in July 2024 pursuant to a Section 363 sale process in the U.S. Bankruptcy Court for the District of Delaware.
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Blank Rome Welcomes Real Estate Associate Eric L. Bodzin in Philadelphia
July 25, 2024Blank Rome LLP is pleased to announce that Eric L. Bodzin joined the firm’s Philadelphia office as an associate in the Real Estate practice group.
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Whiskey House of Kentucky Secures $145 Million in Long Term Capital
July 25, 2024Whiskey House of Kentucky, the most advanced contract distillery in the United States, announced today the successful close of a 5-year, $115 million syndicated credit facility from Truist Bank, U.S. Bank, First Horizon Bank, Rabobank, and CoBank (Lenders).
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Runway Growth Capital Provides Additional $20 Million Growth Investment to Elevate
July 25, 2024Runway Growth Capital LLC ("Runway"), a leading provider of growth loans to both venture and non-venture-backed companies seeking an alternative to raising equity, announced today a $20 million growth capital commitment to Elevate, a leading provider of consulting, technology, and services for law departments and law firms.
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Bastion Management Closes $20 Million Facility with Vernance
July 25, 2024Bastion Management ("Bastion"), a private investment firm focused on asset-based lending in the specialty finance sector, announced today that it agented a senior debt investment of $20 million with accordions up to $60 million in Vernance LLC ("Vernance" or the "Company") to fund future growth of their consumer lease-to-own ("LTO") portfolio.
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TAB Bank Announces More Than $103 Million in Credit Facilities for Q2 2024
July 25, 2024TAB Bank successfully closed $103 million in credit facilities with nearly 400 companies during the second quarter of 2024. Financing included loans for working capital, equipment and commercial real estate, small business lines of credit and accounts receivable funding.
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Digitt Secures US$50M From CoVenture to Help Prime Borrowers in Mexico Pay Off Predatory Credit Card Debt
July 25, 2024Digitt, a pioneering fintech offering credit card debt refinancing for prime borrowers in Mexico, today announced the launch of a $50M debt facility with CoVenture Management, LLC, a leading private credit and alternative asset manager based in New York, New York.
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Rosenthal Closes Joint Recourse Factoring and Purchase Order Financing Transaction
July 24, 2024Rosenthal & Rosenthal, Inc., the leading factoring, asset based lending, purchase order financing and inventory financing firm in the United States, today announced the recent completion of a joint recourse factoring and purchase order financing deal.
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US Bank and Billtrust Partner on AR Platform for Suppliers
July 24, 2024U.S. Bank has introduced an automated, comprehensive accounts receivable (AR) platform designed for suppliers. The U.S. Bank Advanced Receivables platform was created in partnership with Billtrust and combines the bank’s payment and risk management capabilities with Billtrust’s AR technology, the bank said in a Tuesday (July 23) press release.
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Magnetic Leasing Secures Term Loan With volofin Capital Management
July 24, 2024Magnetic Leasing, part of the Magnetic Group, has successfully closed a secured term loan with volofin Capital Management to finance mid-life narrow-body aircraft, engines, and landing gears. This transaction and strategic alliance represent Magnetic Group's first structured financing facility as part of its ongoing expansion strategy.
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Marathon Helped Lead Term Loan Talks on AMC Debt Restructuring
July 24, 2024Marathon Asset Management was a main holder of AMC Entertainment Holdings Inc. loans that are being swapped under a debt restructuring plan and give those investors a new claim on US theaters, according to people with knowledge of the firm’s holdings.
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Conn’s files for Chapter 11 After Announcing Store Closures
July 24, 2024Top 100 retailer Conn’s HomePlus, which also owns Badcock Home Furniture &more, filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of Texas on July 23.
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Aequum Capital Establishes Presence in Iconic Chicago Mercantile Exchange Building
July 24, 2024Aequum Capital, a prominent non-bank asset based lender, has announced its strategic move to the prestigious Chicago Mercantile Exchange (CME) building, solidifying its commitment to growth and innovation in the heart of Chicago's financial district.
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