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First Citizens Bank Serves as Lead Arranger on $211 Million Financing for North Carolina Solar Power Development
First Citizens Bank today announced that its Energy Finance group, part of the CIT division, served as sole lead arranger on $211 million in financing for the 200-megawatt Oak Solar power plant in Gaston, North Carolina.
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Funding in the Food Circle – the Winds of Change
Food. It’s at the heart of all our lives. We love it – we think about it – we plan it – we talk about it.
Never before has there been so much focus on food: where it comes from, how much it costs and how to keep getting it. Just about all of us who have recently bought groceries think: “Wow – that’s a lot more expensive than it was last year.” When I said that recently to a good friend, she responded that this must be due to inflation and Ukraine. I thought: that is too simple an answer.
TSL Express Daily Headlines & News
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Transportation Leader Secures $20 Million Factoring Facility with eCapital
July 31, 2024eCapital Corp. (“eCapital”), a leading tech-enabled finance provider specializing in tailored solutions for businesses across North America and the United Kingdom, announced a new $20 million non-notification factoring facility for a large private transportation company servicing clients across North America.
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Solar Panel Maintenance Company Improves Their Operations with a $500,000 Facility from Prestige Capital
July 31, 2024A leading solar power maintenance company faced a unique challenge when their lender mandated payment from their customer via check. This requirement strained the customer and began to impact the overall relationship between the solar company and its client.
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esVolta Secures $258 Million Credit Facilities for ERCOT Storage Portfolio
July 31, 2024esVolta, LP announced completion of $258 million senior secured credit facilities for a 980 MWh portfolio of standalone battery energy storage projects.
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Daniel Harari Joins Mitsubishi HC Capital America as Senior Vice President, Corporate Development – M&A and Investments
July 31, 2024Mitsubishi HC Capital America, the largest non-bank, non-captive finance provider in North America with $7.5 billion in owned and managed assets, is pleased to announce that Daniel Harari has joined the company as Senior Vice President, Corporate Development – M&A and Investments.
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BizCap® Secures $20 Million Credit Facility for Arizona Athletic Grounds
July 30, 2024BizCap®, a commercial finance advisory firm established in 2002, is pleased to announce its instrumental role in securing a $20 million Credit Facility for Arizona Athletic Grounds (“AAG”), the leading youth sports and entertainment facility in Mesa, Arizona.
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Culain Capital Structures $500,000 Accounts Receivable Financing Facility for Temporary Placement Staffing Agency
July 30, 2024Culain Capital is pleased to announce the structuring of a $500,000 accounts receivable financing facility for a leading temporary placement staffing agency. This strategic financial solution is designed to provide the company with the necessary working capital to support its ongoing growth and expansion efforts.
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LSQ Creates $3MM Invoice Finance Facility for IT Staffing Firm
July 30, 2024LSQ, a leading provider of working capital and payments management solutions, recently originated a $3 million accounts receivable credit facility for an IT staffing firm. The company was referred to LSQ by a banking partner that was unable to support funding facility increases.
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Austin Financial Services Closes $12MM Credit Facility to Manufacturer of Textile Floor Coverings
July 30, 2024Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $12MM asset-based lending (ABL) facility. The financing solution, which was extended to a family office-owned manufacturer of yarns and textile floor coverings, includes an AR and Inventory revolver, alongside a Machinery and Equipment term loan.
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Womble Adds Government Contracts Partner in Huntsville
July 30, 2024Womble Bond Dickinson announced today that Jon Levin has joined the firm’s Huntsville, Alabama, office as a partner in the Corporate and Securities group. Jon has practiced government contracts law for over two decades. He has successfully represented clients in hundreds of bid protests at the Court of Federal Claims and Government Accountability Office, appeals before the Federal Circuit, and on size and status matters before the Small Business Administration.
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Flatbay Capital Welcomes Adam Reese to the Team
July 30, 2024Adam is no stranger to the commercial real estate industry. His experience includes lending, originations, underwriting and brokerage in Denver, New York, and Kuala Lumpur, Malaysia. In his 18 years, he’s held the positions of Vice President, Relationship Manager, Senior Commercial Lender, Senior Business Development Manager and Account Executive at respective companies.
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Sallyport Commercial Finance Provides $900,000 for Toy Distributor
July 30, 2024Sallyport Commercial Finance is pleased to announce that a leading toy distributor has secured $900,000 in funding. This funding package includes a $750,000 accounts receivable (AR) facility and a $150,000 inventory facility.
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CIT Commercial Services Provides Up to $48 Million in Financing to Crown Crafts
July 30, 2024First Citizens Bank today announced that its CIT Commercial Services unit provided up to $48 million in financing to Crown Crafts Inc. (NASDAQ-CM: CRWS), one of America’s largest producers of infant bedding, toddler bedding, bibs, toys and disposable products.
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Renasant Corporation to Acquire The First Bancshares, Inc.
July 30, 2024Renasant Corporation (NYSE: RNST) (“Renasant”) and The First Bancshares, Inc. (“The First”) (NYSE: FBMS) jointly announced today that they have entered into a definitive agreement and plan of merger, pursuant to which The First will merge with and into Renasant (the “Merger”) in an all-stock transaction valued at approximately $1.2 billion, based on Renasant’s closing stock price as of July 26, 2024.
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Citizens Business Conditions Index™ Jumps in Q2
July 30, 2024The national Citizens Business Conditions Index™ (CBCI) rose to 52.2 in the second quarter, pushing into expansionary territory after taking a step back at the beginning of the year. The reading above 50 indicates that economic momentum is building, in this case due to higher company revenue coupled with the prospect of easing monetary policy, which lowers the cost of capital.
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Churchill Serves as Joint Lead Arranger and Administrative Agent for a Senior Secured Credit Facility to Support TJC’s Acquisition of Insulation Technology Group
July 30, 2024Churchill Asset Management (“Churchill” or the “Firm”) today announced that it served as Joint Lead Arranger and Administrative Agent for a senior secured credit facility to support the acquisition of Insulation Technology Group (“ITG” or the “Company”) by TJC, LP (“TJC”).
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Portman Ridge Finance Corporation Amends and Extends Its Senior Secured Revolving Credit Facility
July 30, 2024Portman Ridge Finance Corporation (Nasdaq: PTMN) (the “Company”) today announced that it has amended and extended its existing senior secured revolving credit facility (“Credit Facility”) with JPMorgan Chase Bank, National Association (“JPM”).
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Achieve Life Sciences Announces $20M Loan Refinancing with Silicon Valley Bank
July 30, 2024Achieve Life Sciences, Inc. (Nasdaq: ACHV), a late-stage pharmaceutical company committed to the global development and commercialization of cytisinicline for smoking cessation and nicotine dependence, today announced that it has entered into a $20 million debt refinancing agreement with Silicon Valley Bank (SVB), a division of First-Citizens Bank.
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Fifth Third Bank Joins Wells Fargo to Increase ExchangeRight REIT Credit Facility to $100 Million
July 30, 2024ExchangeRight, one of the nation's leading providers of diversified real estate DST and REIT investments, has announced that Fifth Third Bank has joined Wells Fargo as a co-lender on ExchangeRight's Essential Income REIT's revolving line of credit and has increased the current credit capacity to $100 million. This closing strategically expands the REIT's credit access, adding to the recently announced Credit Facility with Wells Fargo for $75 million.
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Grant Thornton Names 56 New Partners, Principals and Managing Directors
July 30, 2024Grant Thornton, one of America’s largest brands of professionals providing end-to-end audit, assurance, tax, and advisory services, has admitted its annual class of new partners and principals, and promoted a group of professionals to managing directors.
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Peakstone Realty Trust Amends and Extends Credit Facility
July 29, 2024Peakstone Realty Trust (the "Company") (NYSE: PKST), a real estate investment trust that owns and operates a high-quality, newer-vintage portfolio of predominantly single-tenant industrial and office properties, today announced the successful closing of an amended and extended $907 million unsecured credit facility, underscoring the strength of its balance sheet and high-quality portfolio.
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