- Solifi Launches Solifi Document Intelligence, Enabling Up to 70% Reduction in Document Verification Time in Secured Finance
- NORD/LB, Siemens Financial Services, and GridStor Announce Close of $120 Million Financing Agreement
- News Detail
- Womble Deepens M&A, Private Equity Bench in New York
- Bank Economists See Moderate Growth, Persistent Inflation Amid Geopolitical Uncertainty
TSL Express Daily Articles & News
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Ares Commercial Finance Provides $35.0 Million Private Trade Receivables Securitization Facility to Behavioral Health Treatment Services Company
Ares Commercial Finance announced today that it has provided a $35.0 million Private Trade Receivables Securitization Facility to a behavioral health treatment services organization, a portfolio company of a top-tier global private equity firm.
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SFNet Report on Confidence in Asset-Based Lending Market: Survey Shows Industry is Well Positioned to Weather a Recession
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.
“Despite the challenges, the asset-based lending industry remains on solid footing,” said SFNet CEO Richard D. Gumbrecht. “Portfolio performance is strong by historical standards, commitments are up, and lenders anticipate strong demand. Overall, the industry is decently-positioned to weather worsening business conditions and a potential recession.”
TSL Express Daily Headlines & News
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Vintage Wine Estates, Inc. Announces Bankruptcy Filing and Voluntary Delisting and SEC Deregistration
July 24, 2024Vintage Wine Estates, Inc. (Nasdaq: VWE and VWEWW) (the “Company“) announced today that the Company and certain of its subsidiaries (such subsidiaries, each a “Debtor,“ and together with the Company, the “Debtors“) filed a voluntary petition for reorganization (collectively, the “Chapter 11 Cases“) under chapter 11 of title 11 of the United States Code (the “Bankruptcy Code“) in the United States Bankruptcy Court
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Hedaya Capital Provides $5 Million Facility to Product Development Company
July 24, 2024The Hedaya Capital Group provided a $5,000,000 facility with a $1,000,000 sub limit for inventory advances to a New York-based product development company offering services for a product’s entire creation cycle, from design through production. With 50 years of experience and five business units – housewares, pet products, intimate accessories, socks & hosiery, and baby necessities.
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SG Credit Partners Announces A Senior Debt Investment in Pacha Soap Co.
July 24, 2024SG Credit Partners, through its Consumer Products division, is excited to welcome Pacha Soap Co. to its growing portfolio. A purpose-driven company, Pacha’s line of artisanal bath and home fragrance products is known for environmentally conscious practices creating a suite of offerings ranging from bar soap to whipped body scrubs. The senior debt investment will support Pacha’s continued growth.
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Hidden River Supports Blufox Mobile’s Acquisition and Adds to its Investment Team
July 24, 2024Hidden River is thrilled to announce the latest addition to its portfolio – an investment in Blufox Mobile (“Blufox”). Blufox is a Comcast Xfinity authorized retailer, offering the full suite of products and packages of the Xfinity brand. Additionally, Hidden River is excited to announce two additions to our investment team.
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Capify Appoints Think Business Loans Founder as Director of Strategic Initiatives
July 24, 2024Capify, a leading SME lender, has appointed Jamie Stewart as Director of Strategic Initiatives. Jamie, the founder and former MD of Think Business Loans, brings extensive experience and SME expertise to Capify.
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Comvest Credit Partners Provides $153 Million Senior Credit Facility For Dividend and Growth Capital to Pro Food Solutions
July 24, 2024Comvest Credit Partners (“Comvest”), a leading provider of flexible direct financing solutions to middle-market companies, is pleased to announce that it is acting as Administrative Agent and is the Sole Lender on a $153 million senior secured credit facility (the “Financing”) for Pro Food Solutions (“Pro Food”, or the “Company”), a Richmond, Calif.-based distributor and supplier of food products to the U.S. military market.
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Trinity Capital Inc. Launches New Strategic Partnership
July 24, 2024Trinity Capital Inc. (NASDAQ: TRIN) ("Trinity" or the "Company"), a leading provider of financing solutions to growth-stage companies, today announced that it has launched a new vehicle in partnership with Eagle Point Credit Management LLC ("Eagle Point Credit"). Trinity's wholly owned registered investment adviser will be an adviser to the new vehicle, thereby bolstering the Company's sources of capital for lending and generating non-capital intensive fee income.
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Aypa Power Secures $650M in Upsized Corporate Facility, The Largest In The Energy Storage Industry
July 23, 2024Aypa Power (Aypa), a Blackstone portfolio company that builds, owns, and operates utility-scale energy storage and hybrid renewable energy projects, has successfully closed a $650 million corporate credit facility, which includes access to letters of credit, a revolver and a term loan, replacing the company's existing $320 million facility.
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Tradewind Finance Expands Footprint in Mexico with Two New Additions to the Americas Team
July 23, 2024Tradewind Finance, an international trade finance firm specializing in cash flow solutions that enable business growth and seamless cross-border trade, is expanding its footprint in Mexico with two new hires. The company’s growing team in the region comes at a time when Mexico has become a major trading partner for countries including the United States, making trade finance an attractive tool for facilitating export and import transactions.
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Flatbay Capital Welcomes Matthew Melvin to the Team
July 23, 2024Matthew started his career in banking as a commercial credit analyst for Woodforest National Bank in 2005. Upon leaving Woodforest, he moved into a commercial lender role at a de novo bank, Lone Star Bank in Houston, where he honed his skills and in time held the roles of Chief Credit Officer, Chief Lending Officer and Houston Market President.
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Rosenthal Closes Three ABL Transactions Totaling Nearly $20 Million
July 23, 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 three asset-based lending transactions totaling $19.5 million.
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Rosenthal Closes Three ABL Transactions Totaling Nearly $20 Million
July 23, 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 three asset-based lending transactions totaling $19.5 million.
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SFNet New Member Spotlight: Finley Technologies
July 23, 2024Finley's software simplifies asset-backed lending for borrowers and asset managers. By automating due diligence, ensuring compliance, and streamlining ongoing reporting, Finley helps ensure that capital is always available when companies need it.
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Womble Deepens Financial Services Bench in New York
July 23, 2024Womble Bond Dickinson announced today that Ryan Thompson has joined the firm’s New York office as an of counsel in the Finance, Bankruptcy, and Restructuring group. Thompson concentrates his practice on equipment finance, commercial lending, floorplan finance, asset-based lending, and creditors’ rights.
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Genesis Energy, L.P. Extends Its Existing Secured Credit Facility into September 2028
July 23, 2024Genesis Energy, L.P. (NYSE: GEL) announced today that on July 19, 2024, it successfully syndicated, upsized and closed on an extension of its existing revolving credit facility with $900 million in commitments from both existing and new lenders with an initial maturity date of September 1, 2028.
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WildBrain Announces New $415 Million Senior Secured Credit Facility
July 23, 2024WildBrain Ltd. ("WildBrain" or the "Company") (TSX: WILD), a global leader in kids' and family entertainment, has entered into an agreement with a group of private lenders, led by Sagard and Comvest Credit Partners, for a new five-year US $415 million Senior Secured Credit Facility consisting of a $375 million term loan and a $40 million revolving credit facility (the "New Facilities").
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SLR Business Credit Provides $20 Million Line of Credit to Tastemakers LLC, the Creators of Arcade1Up, the 4th Largest Brand in Gaming
July 23, 2024SLR Business Credit LLC (“SLR Business Credit”) is pleased to announce the funding of a $20 million credit facility for a leading manufacturer in the gaming industry, Tastemakers LLC. Tastemakers has licensing agreements and development deals with iconic retro arcade games and manufactures cabinets, bringing gaming to homes around the world.
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Gridiron Capital Agrees to Sell GSM Outdoors
July 23, 2024Gridiron Capital, LLC (“Gridiron Capital”), an investment firm focused on partnering with founders, entrepreneurs, and management teams, is pleased to announce the signing of a definitive agreement to sell its controlling interest in Good Sportsman Marketing Outdoors (“GSM,” “GSM Outdoors,” or the “Company”), to Platinum Equity.
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Maxim Commercial Capital Fills Capital Void in Q2 2024
July 23, 2024Maxim Commercial Capital (“Maxim”) reported strong results for the second quarter of 2024. While many competitors have tightened their credit windows and other lenders have closed their businesses, Maxim continues to expand. To support its growth, the hard-asset secured lender hired five new team members for key positions in credit, operations, and collections during the period.
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Star Equity Holdings Names Jennifer Palmer to Board of Directors
July 23, 2024JPalmer Collective, an asset-based lending firm that funds brands with a particular focus on sustainability and inclusivity, is announcing that founder and CEO Jennifer Palmer has been named to the board of directors of Star Equity Holdings, Inc. (Nasdaq: STRR; STRRP) (“Star”), a diversified holding company. Ms. Palmer brings to Star’s board a deep knowledge of financing solutions.
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