- TSL Feature Articles
- MidCap Financial Announces Key Leadership Appointments as Part of Planned Succession
- Salem Five Bank Extends $6 Million Credit Facility to Arocam Sports
- Entrepreneur Growth Capital Provides $17,500,000 Line of Credit to Supply Chain Solutions Provider
- Armory Securities, LLC Announces the Successful Closing of a Credit Facility for Copper Cane Wines & Provisions
TSL Express Daily Articles & News
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Flagship Healthcare Trust Secures New $265 Million Revolving Credit Facility From Fifth Third Bank-Led Consortium
Flagship Healthcare Trust, Inc. (Flagship REIT), a Charlotte-based outpatient healthcare real estate investment trust, has expanded its syndicated senior revolving credit facility arranged by Fifth Third Bank.
The $265 million senior secured credit facility has a $100 million revolver and a $165 million term loan. Flagship also increased its borrowing capacity by an additional $200 million through an accordion feature.
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The Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act was signed into law. While the implementing regulations are not required to be issued by the SBA until January 6, 2021, the Act does provide insight into the new and revised programs.
The purpose of this article is to provide an overview of the Act to allow borrowers and lenders to take advantage of potential liquidity enhancements.
TSL Express Daily Headlines & News
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Siena Lending Group LLLC Announces the Closing of a $35 Million Credit Facility For Grove Collaborative Holdings, Inc.
April 18, 2023Siena Lending Group LLC ("Siena") announces the completion of a $35 million asset-based revolving line of credit for Grove Collaborative Holdings, Inc. (“Grove”), a publicly traded company headquartered in San Francisco, California. The facility was established to support the Company’s future growth initiatives. A leading sustainable consumer products company and a Certified B Corp™, Grove creates and curates over 150 sustainable, high-performing brands primarily in the home and personal care categories.
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Quasar Capital Names Veteran Business Leader Sam Tork as Partner
April 18, 2023Sam Tork has been in the business finance world for over 25 years—accumulating decades of expertise in the commercial banking and asset-based lending industry. His emphasis on people is what sets him apart as a leader.
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U.S. Small Business Administration Implements Rules to Address Persistent Capital Access Gaps
April 18, 2023The U.S. Small Business Administration has finalized two rules to address persistent gaps in access to capital impacting small business owners in underserved communities as part of the Biden-Harris Administration’s effort to grow the economy from the middle out and bottom-up, not top-down. The final rules grant permanence to SBA’s program for nonprofit mission lenders, remove outdated limits on non-depository lender participation, increase opportunities for employee ownership, and modernize the credit criteria and underwriting standards to further incentivize a wider distribution network and small-dollar loans.
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Cambridge Savings Bank Provides BFC Solutions with a Senior Credit Facility to Fund Extensive Growth
April 18, 2023Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and over $6 billion in assets, today announced that its Asset-Based Lending team (ABL) provided a senior credit facility to BFC Solutions (BFC), a national provider of commercial HVAC and refrigeration filter replacement and related routine preventative maintenance services.
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Maxim Commercial Capital Reports Strong Growth in Q1 2023
April 18, 2023Maxim Commercial Capital (“Maxim”) reported exceptionally strong year-over-year growth during the first quarter of 2023. The private finance company closed nearly three times more truck financing transactions during the period than in 2022, and helped numerous business owners replace expensive MCA loans with creatively structured, lower cost term loans.
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Gibraltar Supports Private Equity-Backed Food Distributor with $8MM ABL
April 18, 2023GBC has carved a name for itself as the preferred ABL partner of private equity by delivering fast and flexible asset-based lines of credit to sponsor-backed companies who need it most—helping portfolio companies grow.
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Sallyport Commercial Finance Announces $1 Million in Financing for a Renewable Energy Services Company
April 18, 2023Sallyport Commercial Finance is delighted to announce $1 million in accounts receivable finance for a business providing services to the renewable energy industry. The client has been operating a successful business in the UK and recently opened a US company to serve a larger market.
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Norton Rose Fulbright enhances US Corporate Insurance and Technology Transactions Practices With Six New Partners
April 18, 2023Global law firm Norton Rose Fulbright added six partners today to significantly strengthen its US offering in two of the firm’s key sectors: Financial Institutions (including Insurance) and Technology.
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Carpenter Technology Extends and Amends Credit Facility
April 18, 2023Bank of America, N.A. will continue to serve as the administrative agent, and Bank of America, N.A. and JPMorgan Chase Bank, N.A. served as the Joint Lead Arrangers. In addition to increasing the size of the Credit Facility from $300 million to $350 million, there are changes to certain terms of the Credit Facility from the prior agreement, including modifications to the financial covenants.
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Monroe Capital Supports Estancia Capital Partners’ Investment in Snowden Lane Partners
April 18, 2023Monroe Capital LLC announced it acted as joint lead arranger on the funding of a senior credit facility to support the continued growth of Snowden Lane Partners (“Snowden Lane”), an existing portfolio company of Estancia Capital Partners.
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Huntington Business Credit Announces $39.4 Million in new Credit Facilities for Santmyer Companies, Inc.
April 17, 2023Huntington Business Credit announced it closed $39,400,000 in new credit facilities with Santmyer Companies, Inc. on March 31, 2023. Proceeds of the facility were used to finance an acquisition, refinance existing debt and provide ongoing working capital growth financing.
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Encina Private Credit Leads First Lien Credit Facility to Support H.I.G. Capital in The Acquisition of Tower Engineering Professionals
April 17, 2023Encina Private Credit, LLC (“EPC”) is pleased to announce that it has served as Administrative Agent, Collateral Agent, Joint Lead Arranger and Joint Bookrunner for a Senior Secured Credit Facility supporting H.I.G. Capital’s acquisition of Tower Engineering Professionals
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Republic Business Credit Provides $6.75 Million Factoring Facility for Women and Minority-owned Government Contractor
April 17, 2023Republic Business Credit is proud to announce it recently provided a $6.75 million factoring legered line of credit facility to a women and minority-owned government contractor, with an accordion up to $10 million.
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SG Credit Announces Re-Brand of Stonegate to SG Consumer Products
April 17, 2023SG Credit Partners today announced the re-branding of Stonegate Capital, which it acquired in late 2021, to SG Consumer Products. SG Consumer Products provides asset-based lines of credit plus IP/brand and M&E term loans primarily to sponsor-backed, high-growth consumer brands generating revenue of $15 to $200+ million.
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36th Street Extends and Upsizes Credit Facility to $280MM
April 17, 202336th Street Capital announced today that it recently extended and upsized its senior secured revolving credit facility to $280 million, an increase of $110 million. The credit facility includes six lenders and is led by Capital One, N.A. as agent.
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Intrinsic Announces Launch of Fixed Asset Valuation Practice
April 17, 2023Intrinsic LLC, a national valuation and transaction advisory firm based in Denver, Colorado (“Intrinsic” or the “Company”), announced today that it has launched a separate Fixed Asset Valuation practice.
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M C Bank Hires Steve Bergeron as Chief Credit Officer
April 17, 2023M C Bank has hired Steve Bergeron to fill the role of chief credit officer. Bergeron has been in the banking industry since 1980. He previously worked at Hancock Whitney Bank and Regions Bank. For the last twelve months, he has been working in a consulting role with M C Bank.
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PetroFrontier Corp. Announces Credit Facility Extension
April 17, 2023PetroFrontier Corp. ("PetroFrontier" or "the Corporation") (TSXV:PFC) is pleased to announce that it has successfully extended a total $6,353,000 of its principal debt obligations for a period of two additional years. The debt obligations included a debenture that matured on August 31, 2022 and previous credit facilities which matured on August 31, 2022, April 30, 2022 and October 31, 2022.
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Fed Approves UBS Acquisition of Credit Suisse’s US Subsidiaries
April 17, 2023
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Quinn Residences Announces New $500 Million Revolving Credit Facility with Accordion up to $1.5 Billion
April 17, 2023Quinn Residences ("Quinn" or the "Company"), the largest pure-play owner of high-quality, purpose-built communities of single-family homes for rent in the Southeastern United States, announced today the closing of a $500 million revolving credit facility (the "Facility") led by JPMorgan Chase Bank. An accordion feature permits the Company to increase the borrowing capacity up to $1.5 billion.
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