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The thing I love most about stoicism is the ability to combine its philosophy at work and home. Most people, myself included, do not truly look at themselves dispassionately in either setting. We are great, we are smart, we are everything someone should be and capable of everything; until we are not. I experience this recently when I had to look deep inside myself and acknowledge that like all people, I am flawed and have weaknesses. Most people overestimate their skills while failing to give themselves credit for what they are really great at. When you truly understand who you are, you will be better at every aspect of your job. What does this have to do with lending, you might ask; patience is another stoic virtue.
TSL Express Daily Headlines & News
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Association of Insolvency and Restructuring Advisors Announces CIRA Certification Award Winners
June 14, 2023In 1992, the AIRA established the Certified Insolvency and Restructuring Advisor (CIRA) program to recognize by public awareness and certification those individuals who possess a high degree of knowledge and proficiency across a spectrum of functions related to serving clients in situations involving distressed and/or insolvent entities.
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Big Shoulders Capital Affiliate Acquires Assets of Design Molded Plastics, Saving 50 Manufacturing Jobs in Ohio
June 14, 2023Big Shoulders Capital affiliate completed the asset purchase of Design Molded Plastics, a 40-year-old custom plastic injection molding business in Macedonia, Ohio. Big Shoulders previously invested in another Ohio injection molder and mold builder, DRS Industrial, LLC in 2020.
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Gridiron Capital Adds Investment Professionals
June 14, 2023Gridiron Capital, LLC (“Gridiron Capital”), an investment firm focused on partnering with founders, entrepreneurs, and management teams, is pleased to welcome Ben Warren and Jack Rutter to the firm as Associates. Throughout the year, Gridiron has continued to bolster its team to add value and enhance its Winning Together culture.
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Access Capital, Inc. Announces Brian Sheehy as Vice President, Business Development Officer
June 14, 2023The Business Development team of Access Capital, Inc., the nation’s leading independent lender to the staffing industry, recently added Brian Sheehy to its Business Development team as its Vice President reporting to Raphael Torres, Head of Business Development.
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Companies Turning to Alternative Financing Sources as Banks Apply Increased Pressure, According to Carl Marks Advisors Survey
June 14, 2023Traditional bank lenders are applying more pressure to borrowers and showing less tolerance when mid-sized companies in the U.S. miss financial targets, according to a new survey of business executives and lenders sponsored by Carl Marks Advisors, a leading investment bank.
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Augmedix Extends Term Loan Facility and Finalizes Terms for Equity Line of Credit
June 14, 2023Augmedix (Nasdaq: AUGX), a healthcare technology company that delivers industry-leading ambient medical documentation, today announced that it has amended its existing senior secured term loan facility with Silicon Valley Bank (“SVB”), a division of First Citizens Bank, which may extend the interest only period by as long as 18 months from January 2024 to July 2025, and finalized terms on its previously disclosed equity line of credit with Redmile Group, LLC (“Redmile”).
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Alvarez & Marsal Appoints Tiffany Brown as a Managing Director and North American Solution Leader for CFO Services
June 14, 2023Leading global professional services firm Alvarez & Marsal (A&M) announced the appointment of Atlanta-based Tiffany Brown as a Managing Director and the North American Solution Leader for the CFO Services practice within the firm’s Corporate Performance Improvement (CPI) division.
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BHI Provides $6 Million Loan to Refinance South Beach’s Casa Victoria Orchid Hotel
June 14, 2023BHI, a full-service commercial bank, announced that it has provided a $6 million loan to refinance 1444 Drexel Avenue, Miami Beach, Florida. The loan provided by BHI will enable the Casa Victoria Orchid Hotel to further enhance the guest experience through strategic improvements and upgrades.
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PesoRama Inc. Announces $20 Million Senior Secured Credit Facility for Expansion
June 13, 2023PesoRama Inc. (TSXV: PESO) (OTCQB: PSSOF) ("PesoRama" or the "Company") is pleased to announce that, today, it has entered into a binding senior secured revolving credit facility (the "Loan Agreement") for up to $20M (the "Loan") with Third Eye Capital Corporation (the "Agent") on behalf of certain lenders (the "Lenders").
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Associated Bank Announces Shawn McCutcheon as Community Market President in the St. Louis and Metro East Market
June 13, 2023Shawn McCutcheon has joined Associated Bank as community market president for the St. Louis and Metro East market. He is responsible for the commercial, private and retail banking operations for Associated Bank's Southern IL and Missouri markets.
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Great Rock Capital Upsizes Leverage Facility
June 13, 2023The leverage facility agented by KeyBank provides over $450MM of capital and includes the recent additions of new lending partners First Citizens Bank, Regions Bank, and Synovus Financial Corp.
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FGI Risk Grows Business Development Team with Addition of Rick Perea
June 13, 2023FGI Worldwide LLC (www.FGIWW.com) (“FGI”), has announced the hiring of Rick Perea as Director, FGI Risk. Based out of the Boca Raton office, Mr. Perea is responsible for originating new business opportunities for FGI’s credit insurance brokerage and risk advisory division by cultivating relationships throughout the Southeast marketplace.
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SG Credit Partners Announces a Senior Debt Investment in Bulletproof 360
June 13, 2023SG Credit Partners, through its SG Consumer Products division, is happy to announce a partnership with Bulletproof 360, a coffee and functional nutrition brand best known for the “Bulletproof Coffee” recipe. Bulletproof embraces mind-body nutrition by using a blend of high-quality coffee, MCT oil, and grass-fed butter.
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Clear Channel Outdoor Holdings, Inc. Amends and Extends Credit Facilities
June 13, 2023Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) (the "Company") today announced that it has amended its Receivables-Based Credit Facility and Revolving Credit Facility (together, the "Amendments") with Deutsche Bank AG New York Branch as administrative agent.
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Horizon Technology Finance Provides $20 Million Venture Loan Facility to Viken Detection
June 13, 2023Horizon Technology Finance Corporation (NASDAQ: HRZN) ("Horizon"), a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries, today announced it has provided a $20 million venture loan facility to Viken Detection Corp. ("Viken"), of which $10 million has been initially funded.
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Verdant Commercial Capital Grows Funding Capacity with New $150 Million Warehouse Line of Credit
June 13, 2023Verdant Commercial Capital, LLC, the nation’s sixth largest independent equipment finance company, announces the expansion of its funding capacity with the addition of a new $150 million warehouse line of credit provided by Bank of America, N.A.
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Stabilis Solutions, Inc. Announces New $10 Million Revolving Credit Facility
June 13, 2023Stabilis Solutions, Inc. announced that it has successfully arranged a new, $10 million secured revolving credit facility (the "Facility") with Cadence Bank. The Facility, which matures in June 2026, includes a $5 million accordion provision, subject to lender approval.
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Instant Brands Files for Bankruptcy
June 13, 2023Instant Brands, the parent company of Instant Pot, Pyrex, CorningWare, Chicago Cutlery and other big household names, has filed for Chapter 11 protection, citing unsustainable debt and other macro-economic challenges.
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Abacus Finance Provides Senior Debt Financing to Support Growth Recapitalization of Triple Crown Consulting by WestView Capital Partners
June 13, 2023Abacus Finance Group, LLC – a leading provider of cash flow-based, classic senior debt for sponsor-led buyouts of lower middle-market companies – today announced that it served as Senior Secured Credit Facilities Administrative Agent and Joint Lead Arranger for senior secured credit facilities to support the growth recapitalization of Triple Crown Consulting by WestView Capital Partners.
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Sallyport Commercial Finance Provides $250,000 Finance for Ontario Tech Company
June 13, 2023The client was referred to Sallyport through a broker and needed an influx of working capital to support their payroll obligations while they focus on growing their client base. Dan Millar, vice president for Sallyport, was pleased that with the usual Sallyport team effort, the customer was funded quickly and efficiently.
The Secured Lender
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