TSL Express Daily Articles & News
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CIT Commercial Services Announces New Appointments
Tom Fingleton, who has served as Northeast regional manager since March 2019, has been named chief strategy officer. Moving into the role as Northeast regional manager is Amna Mahmood, a managing director who has served as Commercial Services’ national underwriting manager since 2019. Succeeding Mahmood in the role of national underwriting manager is Daniel Goll.
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Mentoring or “Holding the door for those entering behind you”
Unless you’re the most junior person in your work environment, everyone should mentor their less-experienced team members. Helping them learn should be as natural an effort as holding the door for those entering a room behind you. These efforts will create experienced individuals with broad-based perspectives on how to approach their responsibilities within the secured lending industry. Leaders within SFNet member organizations generally agree there is a lack of “bench strength” in the secured lending industry. Greater preponderance of mentoring would tie junior people more to their organizations and to the industry as a whole.
TSL Express Daily Headlines & News
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Alvarez & Marsal’s Global Transaction Advisory Group Scales for Ongoing Growth With Executive Office Appointments
April 3, 2024Leading global professional services firm Alvarez & Marsal’s Global Transaction Advisory Group (Global TAG) announces the establishment of an Executive Office, marking a significant period along its historically remarkable growth trajectory.
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Flatbay Capital Lends $750,000 to Trucking Company
April 3, 2024Flatbay Capital lends $750,000 to a Houston-based trucking company, secured by 10 acres of commercial land to be used as their future headquarters.
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Cambridge Savings Bank Supports the Expansion of Fair Haven Community Health Care with Loans Totaling Over $26 Million
April 3, 2024Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and over $6 billion in assets, today announced that its Corporate Banking team has provided Fair Haven Community Health Care (Fair Haven CHC) with a combined $26.1 million in loans to support its expansion.
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Tiger Finance Posts Strong Lending-Platform Growth in Q1 2024
April 3, 2024Tiger Finance's lending platform continued to grow in the first quarter ended March 31, providing $102 million in financing to retail and other borrowers across North America.
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Brightwood Capital Advisors Closed Second Largest Middle Market CLO of 2024 at $707 Million
April 3, 2024Brightwood Capital Advisors, LLC, a private credit firm, announced that it has closed Brightwood Capital MM CLO 2024-2 Ltd., a $707 million collateralized loan obligation (“CLO”). This CLO represents the second largest new issue middle-market CLO this year, bringing the firm’s year-to-date issuance to $862 million and positioning Brightwood as one of the top three largest middle-market issuers year-to-date, representing over 10% of total middle-market issuance.
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Business Leaders Are Embracing Private Equity Partners, Citizens Survey Finds
April 3, 2024Private equity entered 2024 ready to shop, and a study released today by Citizens reveals many business leaders may be open to making a deal.
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HawkEye 360 Secures $40 Million Debt Commitment
April 3, 2024HawkEye 360, a leading provider of space-based RF data and analytics, announced it had secured $40 million in debt financing from Silicon Valley Bank (SVB), a division of First Citizens Bank, to further its mission of delivering advanced geospatial capabilities.
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Bankruptcy Filings Increase Across All Chapters in First Quarter 2024
April 3, 2024New bankruptcy filings during the first calendar quarter of 2024 (Jan. 1 through March 31) registered year-over-year increases across all U.S. major filing categories, according to data provided by Epiq Bankruptcy, the leading provider of U.S. bankruptcy filing data.
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U.S. Bank, Levantor Capital Team up to Expand Working Capital Financing Options
April 3, 2024U.S. Bank offers a wide range of risk management and financing solutions to help firms improve their working capital along supply chains. In recent years, firms’ working capital needs have expanded in order to manage growing supplier networks across multiple jurisdictions, improve supplier resiliency and sales efficiencies. To continue to add to its working capital toolkit for businesses, U.S. Bank will now provide its clients Levantor’s sales finance solutions.
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Valley Bank’s New York City Commercial Banking Team Closes $150 Million Syndicated Credit Facility to a Premier New York-Based Finance Company
April 3, 2024Valley National Bank, the wholly-owned subsidiary of Valley National Bancorp (NASDAQ:VLY), announced today that their New York City Commercial Banking Team closed a $150 million senior revolving credit facility for a premier New York -based finance company.
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AGL Credit Management Announces the Launch of AGL Private Credit Platform and Exclusive Cooperation Agreement with Barclays
April 3, 2024AGL Credit Management LP (“AGL” or the “Company”), a premier investment manager specializing solely on corporate credit strategies, and Barclays Plc (“Barclays”), a global Investment Bank, today announced an exclusive Cooperation Agreement and the launch of a new private credit investment platform, AGL Private Credit ("AGL PC").
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Wolters Kluwer Names Catherine Wolfe as General Manager of CT Corporation
April 2, 2024Wolters Kluwer, a global leader in professional information, software solutions, and services, has appointed Catherine Wolfe as Executive Vice President and General Manager of its CT Corporation business, effective April 1. CT Corporation is a leading provider of corporate services and entity management solutions to organizations of all sizes in the U.S. market.
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MidCap Financial Closes $85.0mm Senior Secured Credit Facility to Avison Young
April 2, 2024MidCap Financial, a leading commercial finance company focused on middle market transactions, today announced it has provided a $85.0mm senior secured credit facility to Avison Young (“Avison Young” or the “Company”). The MidCap credit facility is part of a comprehensive financial recapitalization transaction (“Transaction”).
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Matrix Applications Launches Transparence, An Outsourced Securities Lending Solution
April 2, 2024Matrix Applications LLC (“Matrix”), a financial technology and operational solutions provider for the capital markets, is proud to announce the launch of Transparence, a back office processing solution for equity finance operations.
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PKF Clear Thinking Awarded 'Section 363 Sale of the Year' by 18th Annual Turnaround Awards
April 2, 2024PKF Clear Thinking, the award-winning business advisory firm and subsidiary of PKF O'Connor Davies, one of the nation's largest accounting, tax and advisory practices, is proud to announce that it has been awarded the "Section 363 Sale of the Year ($50MM to $100MM)" by the 18th Annual Turnaround Awards for its contribution to the sale of Rockport to Authentic Brands Group.
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Pathward Lends $8 Million to Broadcast Transmitter Manufacturer
April 2, 2024The Commercial Finance division of Pathward®, N.A., today announced an $8 million asset-based line of credit facility to a broadcast transmitter manufacturer in the Midwest. The financing provides the company with the funding to improve its working capital position.
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Pathward Lends $4 Million to Logistics Company in Wisconsin
April 2, 2024The Commercial Finance division of Pathward®, N.A., today announced a $4 million asset-based line of credit facility to a Wisconsin-based company. Formerly a trucking company, the financing provides funding for the business to evolve into a full-service logistics outfit.
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Pathward Lends $15 Million to LED Manufacturer to Accommodate Growth, Replace Existing Line of Credit
April 2, 2024The Commercial Finance division of Pathward®, N.A., today announced a $15 million asset-based line of credit facility to an LED lighting, headrest, and counterweight manufacturer company in Michigan.
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Aurous Provides Funding for Sports Apparel Industry Client
April 2, 2024Aurous was presented a client in the sports apparel industry with an existing inventory and factoring agreement in place. The inventory lender signaled a desire to categorically exit the apparel space, and requested the client find an alternative financing solution.
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Durkin Group, a Gordon Brothers Company, Expands Field Exam Services with GB4 Group
April 2, 2024The professional services firm Durkin Group, a Gordon Brothers company, has expanded its field examination services with GB4 Group to serve a broader range of clients.
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