- Pathlight Capital Closes Fourth ABL Credit Fund and Second Evergreen Tranche With $1.9 Billion of Commitments
- Runway Growth Capital Welcomes Ryan McCarthy as Managing Director
- King & Spalding Elects 27 Partners and 17 Counsel for 2026
- SFNet Market Pulse
- TAB Bank Extends a $15 Million Asset-Based Lending Facility to Gehr Industries
TSL Express Daily Articles & News
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Today's Top Story
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Rosenthal Broadens Its Financing Offerings to Span Both Recourse and Non-Recourse Factoring
Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending, purchase order financing, d2c and e-commerce inventory financing firm in the United States, today announced the launch of a new recourse factoring program designed to meet the unique financing needs of growing service businesses and light manufacturing or assembly businesses. An alternative to bank financing, Rosenthal’s recourse factoring offering is an excellent solution for start-ups, turnarounds and companies that are not yet profitable due to rapid growth.
TSL Express Trending Story
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While lenders and financial institutions are not looking to discover the next vaccine or medical breakthrough, artificial intelligence (AI) and machine learning (ML) have been reshaping traditional business processes at a rapid speed. Many decision makers in the C-Suites, while still responsible for ensuring everyday “blocking and tackling” is done, are dealing with how best to integrate AI/ML into their companies, and at what cost. This article takes a deeper dive into how AI and ML are being utilized in the industry along with the factors leaders must consider with AI/ML integration.
TSL Express Daily Headlines & News
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Rosenthal Closes Three Asset Based Lending Transactions
October 2, 2023Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending, purchase order financing, d2c and e-commerce inventory financing firm in the United States, today announced the completion of three asset-based lending transactions across multiple industries.
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Oregon-based Metal Injection Molding Company Partners with Republic Business Credit
October 2, 2023When an Oregon-based private equity-owned metal injection molding company sought a new partner to replace their bank line of credit, they chose Republic Business Credit. Republic extended a $3.5 million asset-based loan revolver with an additional $500k equipment term loan.
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First Citizens Bank Extends Its Brand to Legacy CIT Business Verticals
October 2, 2023First Citizens Bank today announced that it is extending its brand to cover numerous commercial business verticals that previously fell under First Citizens' CIT division. This effort represents another major step towards First Citizens fully integrating CIT since its 2022 merger.
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CVC Credit Supports Add-on Acquisitions by Trilon Group
October 2, 2023CVC Credit is pleased to announce that it recently provided financing solutions to support the add-on acquisitions of three businesses by Trilon Group, backed by Alpine Investors.
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CIBC Innovation Banking Provides Funding to Nanoprecise Science Corp.
October 2, 2023CIBC Innovation Banking announced today that it has provided a $3.5 million debt financing facility to Edmonton-based, Nanoprecise Sci Corp. (Nanoprecise). The company plans to use the funds for working capital purposes.
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Barretts Minerals Inc. and Barretts Ventures Texas LLC File for Chapter 11 Protection
October 2, 2023- Minerals Technologies Inc. (NYSE: MTX) (“MTI” or the “Company”) today announced that its subsidiaries, Barretts Minerals Inc. (“BMI”) and Barretts Ventures Texas LLC (together, “the Debtors”), filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”) to address and comprehensively resolve BMI’s liabilities associated with talc.
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U.S. Bank CFO Insights Report: Finance Leaders Shift to Defense Mode
October 2, 2023U.S. corporate finance leaders have firmly pivoted their focus from revenue growth to cost control as they navigate through an uncertain economic environment and rapidly changing business landscape, according to the 2023 U.S. Bank CFO Insights Report.
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Encina Lender Finance Provides $50MM Credit Facility for Bright Money
October 2, 2023Encina Lender Finance, LLC (ELF) announced today the closing of a $50MM senior secured credit facility for Bright Money, a fintech platform that helps consumers manage their debt.
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Wells Fargo Sells $2 Billion of Private Equity Investments
October 2, 2023Wells Fargo (WFC.N) said on Friday it had sold about $2 billion of its private equity investments as the bank aims to sharpen focus on its core businesses. Lenders have been looking to improve efficiency and scale back less important bets, to better navigate the uncertainty as the Federal Reserve tries to engineer a soft landing for the U.S. economy.
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MidFirst Business Credit Announces New Lending Relationship with Control Solutions LLC
October 2, 2023MidFirst Business Credit (MFBC) announced it has recently provided a working capital facility to Control Solutions LLC (Control). Headquartered in Aurora, Illinois, Control manufactures a complete line of electronic commercial drive controllers and battery charging systems.
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Republic Capital Access Announces Personnel Changes
October 2, 2023After much thought and consideration, Isaac Ellsworth has decided to explore opportunities in sectors other than finance. “Over the last two years, we have thoroughly enjoyed Isaac’s enthusiasm and upbeat personality,” said Republic SVP Matt Stavish. “While we will miss him, we certainly understand, and are supportive of, his decision. We wish him the best as he transitions to the next chapter of his professional life.”
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Bank of America Names Tyrone Noel Hampton Roads President
October 2, 2023Today, Bank of America is announcing that Tyrone Noel has been named president of Bank of America Hampton Roads. As president, Noel will be head of the market and responsible for connecting clients, teammates and communities to the full power of the franchise, driving integration across the bank’s eight lines of business. He will oversee the bank’s efforts to grow market share by fostering local connections and identifying opportunities to grow and deepen client relationships.
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Morrison Foerster Guides CalPlant to Emergence from Chapter 11
October 2, 2023Morrison Forester is pleased to announce that it has successfully guided CalPlant to emergence from its chapter 11 bankruptcy proceedings. Prior to its bankruptcy case, CalPlant constructed the world’s first plant intended to convert rice straw (a waste product of rice production) into high-quality, environmentally friendly, and competitively priced medium-density fiberboard (MDF).
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Byline Sponsor Finance Supports The Brydon Group’s Investment in Peak Performance
October 2, 2023Byline Sponsor Finance (“BSF”), a division of Byline Bank, announced that it has provided financing to support The Brydon Group’s investment in Peak Performance. BSF was represented by Duane Morris, LLP.
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Star Mountain Capital Adds Chris Calabrese, Former Co-Founder of LBC Credit Partners, as Strategic Portfolio Partner
October 2, 2023Star Mountain Capital, a rapidly growing employee-owned specialized investment firm with approximately $3.5 billion AUM, focused on delivering systematic alpha and low market correlated returns from the lower middle-market, announced that Chris Calabrese, co-founding partner of $3+ billion AUM private credit manager LBC Credit Partners, has transitioned from a Star Mountain Operating Partner to a full-time role of Strategic Portfolio Partner.
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CIBC Innovation Banking Provides Financing Support for Clearhaven Partners’ Investment in Korbyt
October 2, 2023CIBC Innovation Banking announced today that it has provided financing support for Clearhaven Partners’ investment in Korbyt, an industry-leading workplace experience platform.
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Alterna Equity Partners Announces the Sale of Alterna Capital Solutions to Paychex
October 2, 2023Alterna Equity Partners (“AEP”), a South Florida-based lower middle market private equity firm, today announced the 100% sale of one of its portfolio companies, Alterna Capital Solutions, LLC (“ACS”) to Paychex, Inc. (“Paychex”). The sale of ACS represents a successful exit for AEP.
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Manufacturers Bank Announces Plans to Rebrand as SMBC MANUBANK
October 2, 2023Manufacturers Bank, a subsidiary of SMBC Americas Holdings, Inc., a member of SMBC Group, announced that it will be changing its name to SMBC MANUBANK as it expands into new markets and industries, and highlighting its decades-long affiliation with Sumitomo Mitsui Banking Corporation, a global leader in finance and innovation.
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Celtic Capital Corporation Provides $3.6 Million to Company Providing Printing Services
October 2, 2023Celtic Capital Corporation today announced its most recent new client relationship – a New York-based company providing printing services to the newspaper advertising industry. This Company, founded in 1980, had been harmed by the pandemic and was out of covenant with its bank.
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Varde Raises Nearly $1.5 Billion for Asset-based Lending Opportunities
September 28, 2023Alternative investment firm Varde Partners has raised nearly $1.5 billion from institutional investors for asset-based lending through its Varde Asset Lending Fund II and related accounts and co-investments, it said on Thursday.
The Secured Lender
SFNet's The 81st Annual Convention Issue
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