- Flotek Secures $120 Million Senior Secured Term Loan to Support Continued Strategic Growth
- SLR Business Credit Provides $1.2 Million Senior Secured Asset-Based Credit Facility to Gourmet Mushrooms, Inc., Cultivator of the Premium Mycopia® Brand
- Peapack Private Appoints Kevin Bertscha as Senior Vice President, Chief Audit Executive
- Encina Commercial Finance Provides $125 Million First-Out Financing as Part of $300 Million Unitranche Supporting National CineMedia’s Acquisition of Captivate Holdings
- CIBC Innovation Banking Serves as Lead Arranger of a Syndicated Debt Facility for Main Capital Partner's acquisition of Orgvue
TSL Express Daily Articles & News
To submit company news and press releases to TSL Express, email tslexpress@sfnet.com.Today's Top Story
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Rosenthal Closes Two Seven-Figure International Factoring Deals
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 completion of a pair of factoring transactions, including a $1.75MM domestic and international non-recourse factoring deal for a leading manufacturer of antimicrobial products and a $1.5MM non-recourse factoring deal for a wholesale premium seafood distributor.
TSL Express Trending Story
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As of March 31, 2021 the US Bureau of Labor Statistics reported 8.1 million job openings, with 3.1 million open jobs in the south, 1.8 million jobs in the west, 1.3 million jobs in the northeast and 1.8 million jobs in the Midwest. Private job openings are 7.3 million of the total job openings, with 0.8 million government jobs open. The private job openings are across all industries.
The unemployment rate by state varies dramatically from 2.9% in Nebraska, South Dakota, Utah and Vermont to 8.3% in California, Connecticut, and New Mexico, 8.5% in New York and 9.0% in Hawaii. The overall unemployment rate is 6.1%.
TSL Express Daily Headlines & News
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Grant Thornton Names new Leader for Seattle and Portland
November 1, 2023Grant Thornton LLP, one of America’s largest audit, tax and advisory firms, has named Lisa Heacock its new market managing partner for Portland and the Seattle metro area.
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TruMark Financial® Credit Union Announces Expansion of Business Banking Team
November 1, 2023TruMark Financial® Credit Union, a leading financial institution in Southeastern Pennsylvania, announces the expansion of their business banking and commercial lending division.
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Star Mountain Capital Adds Former Aflac Global Chief Investment Officer, Eric Kirsch, as Senior Advisor
November 1, 2023Star Mountain Capital, LLC ("Star Mountain"), a specialized investment manager with over $3.5 billion in assets under management (committed capital including debt facilities as of 9/30/2023) focused on generating defensive and premium returns from the less efficient and labor-intensive market of U.S. private small and medium-sized businesses (the “lower middle-market”), is pleased to announce that Eric Kirsch has joined as Senior Advisor.
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Experienced Bankruptcy & Restructuring Partner Joins Blank Rome LLP's Chicago Office
November 1, 2023Blank Rome LLP is pleased to announce that Stephanie K. Hor-Chen has joined the firm’s Chicago office in the Finance, Restructuring, and Bankruptcy group as a partner. Stephanie focuses her practice on insolvency and restructuring and has extensive transactional and bankruptcy court experience. She joins the firm from Katten Muchin Rosenman LLP.
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Trinity Capital Inc. Provides $25 Million Growth Capital to Neuros Medical, Inc.
November 1, 2023Trinity Capital Inc. (NASDAQ: TRIN) ("Trinity"), a leading provider of diversified financial solutions to growth-stage companies, today announced the commitment of $25 million in growth capital to Neuros Medical, Inc., a bioelectric technology company focused on alleviating chronic post-amputation pain and restoring quality of life.
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Altius Renewable Royalties Announces Closing of $247 Million Credit Facility
November 1, 2023The financing includes a $123.5 million initial term facility (“ITF”), a $100 million delayed draw term facility (“Delayed Draw Facility”), and a $23 million letter of credit facility (“L/C”), with the two term facilities qualifying for green loan eligibility. Great Bay is jointly controlled by ARR and certain funds managed by affiliates of Apollo Global Management, Inc. (“Apollo”).
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Solifi Releases new Features for its Equipment Finance Solutions
November 1, 2023Solifi, a global fintech software partner for secured finance, announced the latest product releases for Solifi Originations ROS and Portfolio Management ILS for equipment finance. The new software releases bring significant new value to equipment finance customers, with enhancements to business management, efficiency and compliance.
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Celtic Capital Corporation Provides $636,000 Equipment Loan to Construction Logistics and Material Transportation Provider
October 31, 2023Celtic Capital Corporation today announced its most recent new client relationship – a California-based construction logistics and material transportation provider.
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Horizon Bank Announces Equipment Finance Division led by Joel Mikolich
October 31, 2023Horizon Bank announced today the formation of a new equipment finance division to be led by Joel Mikolich as the division President. The new division will provide business equipment financing solutions to small and medium sized businesses nationwide, while enhancing Horizon’s depth of services to its existing clients providing for continued profitable growth in Horizon’s Commercial platform.
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KeyBanc Capital Markets Appoints Ben Rechkemmer To Lead Native American Financial Services
October 31, 2023KeyBanc Capital Markets Inc. (“KBCM”), the corporate and investment banking arm of KeyCorp (NYSE:KEY), announced the appointment of Ben Rechkemmer to head of Native American Financial Services (NASF). Rechkemmer is based in Michigan and will report to Mike Jackson, KeyBanc Capital Markets segment leader.
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Orrick Grows Asset-Backed Securitization Team in New York
October 31, 2023Orion brings deep experience in securitizations and other asset-based financings in the fintech and solar energy spaces, aligning with Orrick’s leading practices serving both of those markets, as well as a foundation in consumer lending.
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Premier Health Secures Debt Financing for its Previously Announced Acquisition
October 31, 2023Premier Health of America Inc. (TSXV: PHA) (“Premier Health” or the “Corporation”), a leading Canadian Healthtech company, is announcing a $50 million secured credit package (the “Secured Financing”) aimed at closing the acquisition of Solution Staffing Inc. (the “Transaction”), which was announced on July 4th, 2023, including a refinancing of its current revolving facility and new term loans to finance the Transaction.
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Sunlight Financial Acquired by Leading Solar Industry Investors
October 31, 2023Weil, Gotshal & Manges LLP is serving as legal counsel, Guggenheim Securities, LLC is serving as Investment Banker and Alvarez & Marsal is providing financial advisory services to Sunlight Financial. Locke Lord LLP is serving as legal counsel to the Consortium. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel and Piper Sandler is providing financial advisory services to CRB.
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Citizens Business Conditions Index™ Rebounds Slightly in Q3
October 31, 2023A strong labor market and resilient consumer trends supported a slight improvement in economic conditions during the third quarter as inflation showed some signs of abating, according to the national Citizens Business Conditions Index™ (CBCI), released today. After falling below 50 in the second quarter, the index rose to 50.7 in the third quarter, signaling a return to modest growth.
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Above Lending Closes $200 Million Warehouse Facility Led by ATLAS SP Partners
October 31, 2023Above Lending, a leading national provider of consumer installment loans, today announced the closing of a $200-million warehouse facility (the “Financing”) led by ATLAS SP Partners ("ATLAS SP"), which is acting as Administrative Agent.
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Harbor Mexico Welcomes New Leadership Team to Drive Franchise Success and Explore Thriving Opportunities in Latam Trade
October 30, 2023Harbor Mexico Welcomes New Leadership Team to Drive Franchise Success and Explore Thriving Opportunities in Latam Trade
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Wintrust Receivables Finance Announces the Closing of a New $15 Million Line of Credit for a Fast-Growing Third-Party Logistics Firm
October 30, 2023Wintrust Receivables Finance (WRF) is happy to announce the closing of a new $15 million account receivable line of credit for a Southwest-based, third-party logistics firm. The company focuses on full truckload freight for enterprise shippers from across the country.
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Twinco Capital Secures €50M Debt Facility to Bridge Trade Finance Gap
October 30, 2023Spanish firm Twinco Capital made headlines as it recently secured a €50m facility with BBVA Spark, aiming to enhance its growth trajectory.
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Morgan Stanley Announces Ted Pick to Become Chief Executive Officer on January 1, 2024; James Gorman to Become Executive Chairman
October 30, 2023The Board of Directors of Morgan Stanley (NYSE: MS) today announced that Co-President Edward (Ted) Pick will become the Firm’s Chief Executive Officer, effective January 1, 2024. James Gorman will become Executive Chairman. Mr. Pick will also join Morgan Stanley’s Board of Directors at that time.
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Cambridge Savings Bank Approves a $250,000 Loan to Woman-Owned Enhanced Mechanical Contracting
October 30, 2023Completed during National Women’s Small Business Month, financing enables the local HVAC company to turbo charge growth by leveraging market gaps
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