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TSL Express Daily Articles & News
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CELEBRATION, FL (December 14, 2022) – AmeriFactors Financial Group, LLC, provided $60,000,000 in accounts receivable financing to a communications contractor to assist their business through a heavy growth stage. The client will be building out the infrastructure for a large telecom company. Along with increasing their available capital, they will have the advantage of AmeriFactors accounts receivable management services.
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Kurt Marsden is the executive vice president and head of Wells Fargo Capital Finance, which provides traditional asset-based lending, equipment financing solutions, and specialized junior and senior secured lending to companies in the U.S., UK, and Canada.
Kurt joined Wells Fargo in 1992 through Capital Finance’s predecessor Foothill Capital Corporation, and has held many leadership roles in originations, portfolio management, and credit during his tenure, spanning all aspects of the company’s asset-based lending offerings.
Kurt holds a bachelor’s degree in business administration with an emphasis in finance and real estate from California State University, Northridge. He resides in Los Angeles with his wife and two children. Outside of the office, Kurt is active in his community as the Board President of Inclusion Matters by Shane’s Inspiration, which is a non-profit focused on promoting greater inclusion for children with disabilities.
TSL Express Daily Headlines & News
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Alvarez & Marsal Appoints Mark Dorn as Senior Director in its Private Equity Performance Improvement Group
July 27, 2023Leading global professional services firm Alvarez & Marsal (A&M) announced that Mark Dorn will join the firm’s Private Equity Performance Improvement (PEPI) practice as a Senior Director focused on private equity (PE) and corporate clients within the Aerospace, Defense, Aviation & Space (ADAS) group.
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Womble Expands Bankruptcy Footprint Into New York With Partner Trio
July 27, 2023Womble Bond Dickinson announced today that Edward Schnitzer, David Banker, and Wojciech Jung have joined the Capital Markets practice and Bankruptcy team in New York. Schnitzer and Banker join the firm from Montgomery McCracken; Jung joins from Lowenstein Sandler.
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B. Riley Advises Galata Acquisition Corp. on its Business Combination with Marti Technologies
July 27, 2023B. Riley Securities, Inc. ("B. Riley"), a leading middle market investment bank and subsidiary of B. Riley Financial, Inc. (Nasdaq: RILY), is pleased to have served as exclusive capital markets advisor and sole placement agent to NYSE-listed special purpose acquisition company, Galata Acquisition Corp., in its $541 million business combination with Marti Technologies Inc. and $35.5 million convertible note PIPE.
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Breakout Capital Secures $45 Million Credit Facility Led by Synovus Bank
July 26, 2023Breakout Capital, a leading fintech company simplifying access to capital for small businesses, announced today the completion of a $45 million credit facility in which Synovus Bank will provide the senior credit facility and an Austin, Texas-based credit fund, will provide the subordinate credit facility. Under the terms of the agreement, Breakout may now obtain funding through Synovus by accessing $35 million of committed capacity with an additional $10 million uncommitted.
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Haversine Funding Announces Recently Closed Transactions
July 26, 2023Haversine Funding announced the following recently closed transactions: $1,000,000 senior secured, lender finance line of credit to a transportation factoring company in the Southeast.
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Haversine Funding Announces Recently Closed Transactions
July 26, 2023Haversine Funding announced the following recently closed transactions: a $5,000,000 of a $20,000,000 asset-based lending participation to an infrastructure services business
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Haversine Funding Announces Closed Transactions
July 26, 2023Haversine Funding announced the following closed transactions: $25,000,000 senior, lender finance line of credit to a factor and asset based lender. This comprehensive credit facility also includes a supplemental “gap” funding line, with advances up to 95% of eligible loans.
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LSQ Creates $30MM Credit Facility, AR Management Program for New York-based Pharma Company
July 26, 2023LSQ, a leading provider of working capital financing and payments solutions, recently originated a $30 million credit facility for a New York manufacturer, packager and distributor of pharmaceutical and consumer healthcare products.
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Zions Bancorp. Completes ABL Deal with Provider of OCTG Goods & Services
July 26, 2023Zions Bancorporation, N.A., through its Texas division, Amegy Bank, closed and funded a $20,000,000 credit facility for an energy-focused private equity-owned provider of oil country tubular goods and services. The credit facility consisted of a multi-year revolving line of credit.
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Jan Ibey Joins SLR Business Credit
July 26, 2023SLR Business Credit announced today that Jan Ibey has joined the company as Senior Vice President of ABL Business Lending. Ibey is a seasoned asset-based (ABL) finance executive with over 25 years of debt capital raises for lower and mid-market companies, providing business capital solutions to high-growth companies, as well as those in turn-around.
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Haversine Funding Announces Closed Transactions
July 26, 2023Haversine Funding announced the following recently closed transactions: $1,750,000 junior secured, lender finance line of credit to support expected growth of a transportation factor in the Midwest.
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Authentic Brands Group Is Acquiring Rockport, Inks Marc Fisher Licensing Deal
July 26, 2023Authentic Brands Group has scooped up Rockport, adding another heritage shoe brand to its growing portfolio. The company behind dozens of brand and retailer acquisitions announced on Wednesday that the U.S. Bankruptcy Court for the District of Delaware approved the sale transaction of Rockport, a Newton, Massachusetts-based footwear label.
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Gateway Trade Funding Provides a $600,000 Purchase Order Facility to a Canadian Portable Charger Company
July 26, 2023A Canadian company selling portable chargers was awarded a large retail opportunity with one of the largest US retailers. With this new opportunity, they needed cash flow assistance for inventory and operations. A bank referred them to Gateway Trade Funding.
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nFusion Capital Provides $4 Million ABL Facility to Energy Services Company
July 26, 2023Performance Energy Services, LLC is a Colorado-based energy service construction company contractor delivering safe, client-focused support to the onshore and offshore energy markets. As a trusted partner to oil and gas companies around the world, they provide fabrication, industrial construction, instrumentation & electrical, mechanical, and specialty services.
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Bastion Management Closes $100 Million Facility with Okinus Bastion
July 26, 2023Bastion Management ("Bastion"), a private investment firm focused on asset-based lending in the specialty finance sector, announced today that it agented a senior debt investment of $40 million with accordions up to $100 million in Okinus Inc. ("Okinus") to refinance the existing senior lender and fund future growth of their lease-to-own portfolio.
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Grant Thornton Survey: Finance Leaders Make a Push for Growth
July 26, 2023A new survey from Grant Thornton LLP, one of America’s largest audit, tax and advisory firms, revealed that chief financial officers (CFOs) are heavily focused on two areas that could lead to revenue gains: building and preserving a workforce that can help drive them toward growth; and investing in technology that has the potential to deliver efficiency and revenue gains.
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Atlantic Union Bankshares Corporation Announces Agreement to Acquire American National Bankshares Inc.
July 26, 2023Atlantic Union Bankshares Corporation (“Atlantic Union”) (NYSE: AUB) and American National Bankshares Inc. (“American National”) (Nasdaq: AMNB) jointly announced today that they have entered into a definitive merger agreement for Atlantic Union to acquire American National in an all-stock transaction. Combining the two organizations will strengthen Atlantic Union, the largest regional bank headquartered in Virginia, by deepening its presence in Southwest and Southside Virginia.
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78% of Turnaround Executives Say Capital is The Biggest Challenge for Businesses Facing a Turnaround Today, According to AlixPartners Survey
July 26, 2023Survey respondents said the pain will be particularly acute in the commercial real estate, retail, and financial services industries, with availability and cost of capital being the top factors driving distress. Sufficient liquidity/capital (78%), management’s flexibility & agility (54%), and cost reductions (53%) are the most common restructuring challenges.
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Banc of California and PacWest Announce Transformational Merger and $400 Million Equity Raise from Warburg Pincus and Centerbridge
July 26, 2023Banc of California, Inc. (“Banc of California”) (NYSE: BANC) and PacWest Bancorp (“PacWest”) (Nasdaq: PACW) today announced the signing of a definitive agreement pursuant to which the companies will combine in an all-stock merger transaction. Under the terms of the agreement, which was unanimously approved by the boards of directors of both companies, PacWest will merge into Banc of California, and Banc of California, N.A. will merge into Pacific Western Bank. The combined holding company and bank will operate under the Banc of California name and brand following closing of the transaction.
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CIBC Adds Expertise to Asset-based Lending Team With new Hire
July 25, 2023CIBC today announced that Cindy Jamroziak, managing director and senior underwriter, has joined its Asset-based Lending (ABL) team. Jamroziak brings more than 30 years of industry experience to CIBC’s ABL underwriting team. She will support the ABL group’s business development team by reviewing and proposing asset-based lending solutions to prospective new clients.
The Secured Lender
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