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- EBSC Lending Closes $18.8 Million Value-Add Loan for 146-Unit Apartment Community in Fairview, Oregon
- BRC Group Holdings, Inc. Launches BRC Specialty Finance
- BizCap® Secures $11.75M Acquisition Financing for Confidential IT Services Firm
- Rosenthal Capital Group Closes Five ABL Transactions Across Multiple Industries Totaling $18 Million
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Gordon Brothers Welcomes Nick Kitchin as Managing Director
Gordon Brothers, the global advisory, restructuring and investment firm, has welcomed Nick Kitchin as Managing Director.
Based in London, Kitchin is responsible for capital strategy and originating, structuring and executing investment opportunities in the U.K. and Europe. With over 15 years of experience in restructuring, finance, distressed investing, and mergers and acquisitions, he works with the firm’s pan-European clients to develop customized, flexible and rapid solutions across asset classes.
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Aftershocks Coming? Anticipating Borrower Defaults and Defenses When Stimulus Ends
When the world turned upside-down a year ago, many predicted that the severity of the damage to the U.S. economy would usher in a period of borrower defaults, business failures and bank foreclosures. Rapid government intervention, including bank regulatory easing, has prevented that series of events, for now. Those policy measures will surely come to an end before long, at which point lender enforcement activity will likely increase.
TSL Express Daily Headlines & News
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Alterna Capital Solutions Adds $65 Million to LOC During Firm’s Record Quarter
May 10, 2023Fueled by the firm’s total commitments exceeding $100 Million in Q1 of 2023, financial position strengthens as Wells Fargo and Truist Financial welcome Bank of America to participate in the line of credit.
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FGI Grows Business Development Team with Addition of Kasey Fagan (Krum)
May 10, 2023Based out of the Chicago office, Ms. Fagan is responsible for originating new business opportunities for FGI’s asset-based lending business by cultivating relationships throughout the Midwest marketplace.
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Wintrust Business Credit Expands Team
May 10, 2023Wintrust Business Credit (WBC), a subsidiary of Wintrust (NASDAQ: WTFC), today announced the addition of Benjamin Doran as Senior Vice President- Business Development, expanding WBC's footprint into the upper Midwest as part of the group's expansion into new strategic markets.
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Gridiron Capital Expands Operating Partner Capabilities with the Addition of Mars Shah
May 10, 2023Gridiron Capital, LLC (“Gridiron Capital”), an investment firm focused on partnering with founders, entrepreneurs, and management teams, is pleased to announce that Mars Shah has joined the team as Gridiron’s newest Operating Partner and CEO in Residence.
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Continental Bank Announces Kelly Barnett’s Consulting Contract and Board Seat
May 8, 2023Continental Bank is pleased to announce the appointment of Kelly Barnett as a member of its Board of Directors and chairman of its Strategic Partnership committee. Mr. Barnett also entered into a long-term consulting contract to help the Bank build and manage a premier strategic partner bank sponsorship business.
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SLR Business Credit, SLR Digital Finance, and SLR Healthcare ABL Hire In-house Legal Team
May 8, 2023Kim Withrow has joined as General Counsel. Kim has served as in-house counsel for lenders in a wide range of commercial transactions including eCapital (formerly Bibby Financial), First Capital and Heller Financial. Kim joins us from her most recent role as part of the corporate finance team at King & Spalding.
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Republic Business Credit’s Diane Wszalek Selected As ‘40 Under 40’ Honoree in Secured Finance
May 8, 2023Republic Business Credit is proud to announce that Controller Diane Wszalek was selected as one of Secured Finance Network’s “40 Under 40” honorees. Awarded annually, this prestigious recognition honors exemplary young professionals who are successful in the secured finance industry and have made significant contributions to their communities.
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MPOWER Financing Closes a $150 million Financing Facility with Goldman Sachs to Support International Students’ Education
May 8, 2023MPOWER Financing, a mission-driven fintech firm and a leading provider of non-cosigned loans to promising students from around the world, announced that it recently closed a $150 million revolving asset-backed warehouse facility with Goldman Sachs.
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4Front Ventures Announces Non-Binding Term Sheet for Extension of Senior Secured Debt
May 8, 20234Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) ("4Front" or the "Company") announced today that it has entered into a non-binding term sheet ("Term Sheet") with its senior secured lender, LI Lending, LLC ("Lender") to extend the maturity date, reduce the interest payable, and expand the third-party financings available under the December 17, 2020 Amended and Restated Loan and Security Agreement.
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Securitize Expands Access to Hamilton Lane's Senior Credit Opportunities Fund via Polygon
May 8, 2023Securitize, a firm digitizing the issuance, management, and trading of real-world assets, today launched a new feeder fund offering tokenized exposure to an evergreen private credit fund from leading private markets investment firm, Hamilton Lane (Nasdaq: HLNE), available exclusively on the Polygon blockchain.
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Small and Midsize Business Lending Fraud on the Rise, According to New LexisNexis Risk Solutions Study
May 8, 2023LexisNexis® Risk Solutions released its latest Small and Midsize Business (SMB) Lending Fraud Study. Based on a survey of lenders, SMB lending fraud has increased significantly during the past 12 months, with many smaller banks, credit unions and fintechs expecting fraud levels to worsen over the next year.
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Clifford Chance Announces New Head of Global Asset Finance Group
May 8, 2023Clifford Chance announced today the appointment of partner Zarrar Sehgal as Head of the firm’s Global Asset Finance Group.
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Stonebriar Commercial Finance Announces Closing of $100 Million Construction Financing and Long-Term Lease
May 8, 2023Stonebriar Commercial Finance (“Stonebriar”) today announced the closing of a $100 million construction financing and long-term lease on new passenger rail cars. This transaction supports the Lessee’s further expansion to service its growing customer base.
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SFNet Member Spotlight: Sound Point Capital Management, LP
May 8, 2023Sound Point Capital Management, LP is an asset management firm founded in 2008 with particular expertise in credit strategies.
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Canara Biotech Inc. Secures an Additional $10 Million In Non-Dilutive Capital With its Lead Credit Provider, BMO Commercial Banking
May 8, 2023Cannara Biotech Inc. ("Cannara" or the "Company") (TSXV: LOVE) (OTCQB: LOVFF) (FRA: 8CB), a vertically integrated producer of premium-grade cannabis and derivative product offerings at affordable prices with two mega facilities based in Québec spanning over 1,650,000 sq. ft., announced today that they have raised an additional $10 million of credit facilities from its lead bank, BMO Commercial Banking
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Golden West Food Group Inc. Announces Completion of Debt Refinancing Transaction
May 8, 2023J.P. Morgan and Wells Fargo Bank were the Joint Lead Arrangers, with J.P. Morgan serving as Administrative Agent. KKAP Advisors provided advisory service to the company.
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SLR Healthcare ABL Provides Financing to Clinical Lab
May 8, 2023SLR Healthcare ABL is pleased to announce that it has provided an $8 Million asset-based revolving line of credit to a clinical lab.
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MidCap Financial Closes $20mm Senior Revolving Credit Facility to Village Fertility Pharmacy
May 8, 2023MidCap Financial, a leading commercial finance company focused on middle market transactions, today announced it has provided a $20mm senior revolving credit facility to ABD Group Inc. (“Village Fertility Pharmacy,” “VFP” or “Company”).
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Cyxtera Gets $50M Lifeline, Reaches new Agreement With Debtors, is Forced to Seek Sale or new Investment
May 8, 2023The company this week announced that it has received $50 million in new financing from certain lenders, holding over two-thirds of its outstanding term loan, to support ongoing business operations.
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Invacare Holdings Corporation Completes Financial Restructuring and is Well Positioned to Drive Forward in its Transformation
May 8, 2023-Invacare Holdings Corporation (“Invacare” or “the company”), a leading manufacturer and distributor of medical equipment used in non-acute care settings, today announced that Invacare Corporation and its two U.S. subsidiaries, Freedom Designs, Inc. and Adaptive Switch Laboratories, Inc., successfully emerged from Chapter 11 on May 5, 2023.
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