- Sallyport Commercial Finance Provides $3.5MM Accounts Receivable Facility for Apparel Company
- SouthStar Capital Provides Accounts Receivable Financing Facility for Southeast Commercial Landscaping Company
- Commercial Lending Lawyer Braden Shaw Joins Jones Day as a Partner in Chicago
- Oxford Commercial Finance Surpasses $275 Million in Working Capital Facilities for U.S. Businesses
- Applied Digital Secures Revolving Credit Facility of Up To $550 Million in Support of Strategic Growth
TSL Express Daily Articles & News
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Vice Media Files for Bankruptcy
Vice will enter into a purchasing agreement with a number of its vendors to try and stay afloat, according to a filing in New York federal court. The group, led by Fortress Investment Group, Soros Fund Management, and Monroe Capital, will purchase Vice's assets for $225 million and take on liabilities as high as $1 billion, the filing said.
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Summary of Approved California Regs
As many of our members are aware, legislation is popping up around the country requiring providers of commercial financings to make certain disclosures to their clients with respect to the costs associated with a commercial financing product being provided to a borrower. The first such legislation was introduced in California in 2018 by Senator Steve Glazer, which impacted commercial financing products for $500,000 or less.
TSL Express Daily Headlines & News
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Qwil, Powered by LSQ, and TAPFIN Expand Early-Pay Opportunities to Staffing Suppliers of Major Energy-Sector Client
April 8, 2024LSQ, a leading provider of working capital finance and payments solutions, and Talent Solutions TAPFIN, a leading managed service provider (MSP) for contingent workforces and part of the ManpowerGroup family of brands, today announced an expansion of their Qwil partnership to include staffing firms serving one of the world's largest providers of products and services for the ever-evolving needs of the energy industry.
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Audax Private Debt Provides Financing to Support Littlejohn & Co.’s Acquisition of United Air Temp, Air Conditioning and Heating
April 8, 2024Audax Private Debt announced that, as Joint Lead Arranger, it provided a unitranche credit facility to support Littlejohn & Co.’s investment in United Air Temp, Air Conditioning and Heating (“UAT” or the “Company”), a provider of HVAC and plumbing services to residential homeowners in the Mid-Atlantic and Southeastern U.S.
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Loeb Unlocks Growth for a Beef Industry Client With $1.5 Million ELOC
April 8, 2024A beef industry client looking to grow was facing temporary cash flow challenges that were impeding movement on future projects. While they needed immediate access to capital, traditional loan applications, with their lengthy processing times, posed a significant obstacle. Recognizing this challenge, Loeb leveraged its three-year relationship with the client and their proven track record to offer a tailored solution: an Equipment Line of Credit (ELOC).
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Evolution Credit Partners Welcomes JC Barone as Managing Director
April 8, 2024Evolution Credit Partners Management ("Evolution" or the "Firm"), an alternative credit firm with approximately $3 billion in assets under management, today announced John-Carl ("J.C.") Barone will be joining the Firm as a Managing Director. Mr. Barone brings a two-decade track record in the capital markets, focused on working capital finance, including trade finance and accounts receivable capital solutions for corporates.
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Introducing Finley's Verification Suite, A New Standard for Accuracy, Automation, and Efficiency in Asset-Based Lending
April 8, 2024Today, Finley, the leading debt capital management platform for borrowers and asset managers, announced the launch of the Finley Verification Suite, a set of capabilities that enables lenders in asset-backed lending (ABL) arrangements to verify the accuracy of borrower asset data and calculations.
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Intermedia Cloud Communications Completes $345 Million Refinancing of Balance Sheet
April 8, 2024Intermedia Cloud Communications, a leading global provider of intelligent cloud communications and collaboration applications to businesses and the partners that serve them, today announced that it has completed a $345 million refinancing of its balance sheet by entering into a new revolving credit facility and term loan with certain of its existing lenders.
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Hyper Valuation Services, LLC Hires Jarrett Levy as Director of Business Development
April 8, 2024Hyper Valuation Services, LLC (“HVS”), a division of HYPERAMS, LLC announces that Jarrett Levy has joined the firm as Director of Business Development. In his new role at HVS, Levy will focus on driving continued and future sales growth of HVS’ appraisal business, establishing productive relationships with existing and new clients across the country, and particularly the Southeast market.
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Granite Ridge Announces Expansion of Revolving Credit Facility
April 8, 2024Granite Ridge Resources, Inc. (“Granite Ridge” or the “Company”) (NYSE: GRNT) today announced the successful completion of its semi-annual borrowing base redetermination and entry into the third amendment to the Company’s existing credit agreement (the “Third Amendment”).
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CapitalPlus Financial Services Facilitates a $1.25M Funding for a Reno-based Finishing Contractor
April 8, 2024CapitalPlus Financial Services, a leading provider of receivables financing for the construction industry, is pleased to announce the successful funding of a $1.25 million working capital facility for a finishing contractor based in Reno Nevada.
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Turning Rock Partners Provides Growth Expansion Financing for Hivelocity and Colohouse Merger
April 8, 2024Turning Rock Partners ("TRP" or "Turning Rock"), a private investment firm based in New York, announced the closing of a $70 million expansion financing to support the merger of Hivelocity and Colohouse, a leading provider of colocation, cloud, bare metal, hosting and data services for a diversified set of customers.
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Aequum Capital Leads $45MM Credit Facility for Midwest Based Manufacturing and Distribution Company
April 8, 2024Aequum Capital is pleased to announce it recently led a $45,000,000 revolving credit facility for a Midwest based manufacturing and distribution company. The Facility will provide increased liquidity to the Company as it continues to execute its acquisition strategy. Helios Strategic Advisors, LLC advised on the transaction.
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Houlihan Lokey Continues Expansion of Private Funds Advisory Capabilities With Senior Hires for U.S. Primary Practice
April 8, 2024Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, today announced an additional expansion of its Private Funds Group (PFG) with the appointment of a team of four managing directors from Greenhill & Co. to significantly strengthen its U.S. Primary practice.
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The Hedaya Capital Group Welcomes Louis Barone as Senior Advisor
April 8, 2024The Hedaya Capital Group is pleased to announce that industry veteran Louis G. Barone has joined the Company as Senior Advisor to The Hedaya Capital Group. In this role, he is responsible for leading and executing new business development strategies and growth initiatives, as well as identifying and capitalizing on new markets. He also leverages a vast network of referral relationships to acquire and develop new client relationships.
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99 Cents Only Stores Files for Voluntary Chapter 11 Protection to Facilitate Wind-Down of Business Operations and Pursue Value Maximizing Sale of its Real Estate and Other Assets
April 8, 2024Number Holdings, Inc., the direct parent company of 99 Cents Only Stores LLC (the "Company" or "99 Cents Only Stores") today announced that it has filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code ("Chapter 11") in the United States Bankruptcy Court for the District of Delaware (the "Court") to implement the previously announced orderly wind-down of its business and pursue a value maximizing sale of its real estate and other assets.
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The Promise Homes Company Secures Credit Facility from Leading Global Money Center Bank
April 4, 2024The Promise Homes Company, one of the largest minority-led managers of institutional-quality, single-family residential rental homes in the United States, announced today that it has closed on a revolving credit facility from a leading global money-center bank.
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Wolters Kluwer launches AI-powered OneSumX® Reg Manager to Enhance Regulatory Change Management
April 4, 2024Wolters Kluwer Compliance Solutions has launched OneSumX® Reg Manager to help U.S. community banks and credit unions enhance their regulatory change management efforts. This artificial intelligence (AI)-powered solution represents the latest addition to the Compliance Solutions OneSumX portfolio suite, a trusted product line designed to help financial institutions across the U.S. more effectively navigate regulatory change.
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First Business Bank Awarded 2024 Top Workplaces USA Honor For Third Consecutive Year
April 4, 2024First Business Bank announces it earned the 2024 Top Workplaces USA award from Energage, the third year in a row the bank received prestigious national recognition powered by employee input.
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MidCap Business Credit LLC Completes $15 Million Asset-Based Credit Facility to Plastic Suppliers, Inc.
April 4, 2024MidCap Business Credit LLC announced today that it has completed a $15 million asset-based credit facility to Plastic Suppliers, Inc. The business was established in 1949 and is headquartered in Columbus, Ohio. The company manufactures thin-gauge bio based and petrochemical based films for a wide range of Consumer Packaged Goods market segments and applications.
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Tradecycle Capital Delivers a New Accounts Payable Finance Facility for a Top Auto Parts Distributor
April 4, 2024Tradecycle Capital, an Indianapolis-based trade finance provider, announced it funded a new $2,500,000 revolving accounts payable funding facility for a value-added distributor of fluid power valves and hoses with two distinct business channels, commercial & Department of Defense.
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Jalan to Lead CohnReznick’s Global Offices
April 4, 2024CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that Ashish Jalan has joined the firm as President–Global Operations effective April 1, 2024. In this newly created role, Jalan will oversee the resource management, talent development, operational effectiveness, and client service initiatives that will drive the firm’s ongoing offshore expansion.
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