- Gateway Completes a Record 39 Stretch Deals in 45 Days Totaling $15 Million
- Baker Garrington and Liquid Capital Announce Recent Financings
- Ben Ellis Joins Windels Marx as Special Counsel
- Gateway Completes a Record 39 Stretch Deals in 45 Days Totaling $15 Million
- Trinity Capital Inc. Provides $35 Million in Growth Capital to Neuros Medical, Inc. to Scale Pain Management Therapy Adoption
TSL Express Daily Articles & News
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Churchill Raises Over $12 Billion for its Senior Lending Program
Churchill Asset Management LLC (“Churchill” or the “Firm”), an investment-specialist of Nuveen, announced today that it has raised over $12 billion in third-party committed capital for the Firm’s most recent senior lending program.
This milestone includes the closings of the Firm’s flagship levered and unlevered senior loan funds, publicly-registered vehicles and separately managed accounts (collectively, the “Funds”). The Funds attracted equity commitments from a diverse group of approximately 150 institutional and high net worth investors globally, including leading public and private pension plans, insurance companies, endowments, foundations and family offices based in North America, Europe, the Middle East and Asia.
This milestone includes the closings of the Firm’s flagship levered and unlevered senior loan funds, publicly-registered vehicles and separately managed accounts (collectively, the “Funds”). The Funds attracted equity commitments from a diverse group of approximately 150 institutional and high net worth investors globally, including leading public and private pension plans, insurance companies, endowments, foundations and family offices based in North America, Europe, the Middle East and Asia.
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The Courts’ View of UCC Article 9 Sales In The COVID-19 Environment Is Clearly Changing
In the beginning of the pandemic, we reported that courts viewed Article 9 sales with a more critical eye. For example, we previously reported that Justice Masley of the New York Supreme Court, New York County Commercial Division, issued a decision on June 23, 2020 in D2 Mark LLC v. OREI VI Investments, LLC, holding that a UCC Article 9 sale on thirty-six (36) days’ notice, which required the winning bidder to make a non-refundable deposit of 10% of the purchase price, pay the remaining balance within 24 hours, and precluded the borrower from submitting a bid, was commercially unreasonable because of the dire implications of COVID-19. Article: Lender Stayed From Proceeding With UCC Article 9 Sale
TSL Express Daily Headlines & News
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ETC Provides Sustainable Cashmere Maker with More than Mere Cash in a $3.5MM E-Commerce Facility Add On
April 20, 2023Express Trade Capital (“ETC”) is thrilled to announce the addition of a $3.5MM B2C - Ecommerce financing facility to a well-established and fast-growing cashmere apparel manufacturer.
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IDB Bank Announces Michal Miron as California Region Manager
April 20, 2023IDB Bank, a New York-based private and commercial bank, today announced the appointment of Michal Miron as its new Executive Vice President and California Region Manager. In this role, she will lead the Bank's West Coast operations and strategic growth agenda across the region.
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MUFG Expands Technology Banking Coverage Team
April 20, 2023Mitsubishi UFJ Financial Group (MUFG) announced today the hiring of five senior executives, and a total of at least 20 new team members, to significantly expand the capabilities of its Technology, Media and Telecom (TMT) Banking group to support the pre-IPO growth and middle-market public companies in the innovation ecosystem.
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SLR Healthcare ABL Announces $6 Million for Skilled Nursing and Rehabilitation Center
April 20, 2023SLR Healthcare ABL is pleased to announce that it provided a $6 million asset-based revolving line of credit to a skilled nursing and rehabilitation center in March 2023.
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Rosenthal Completes Purchase Order Financing and Inventory Financing Transactions Totaling $5.5 Million
April 19, 2023Rosenthal & 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 two recent transactions in the beauty and apparel sectors, totaling $5.5 million.
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First Citizens Bank Provides $48 Million for Acquisition of Florida Apartment Community
April 19, 2023First Citizens Bank today announced that its Real Estate Finance group, part of the CIT division, provided a $48 million senior secured loan to finance the acquisition of the Dunson Grove apartment community in Davenport, Florida.
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United Furniture Industries, Inc. Commences Sale Process of Real Estate Portfolio in Connection with Chapter 11 Liquidation
April 19, 2023B. Riley Real Estate, LLC ("B. Riley”) is acting as real estate advisor to United Furniture Industries, Inc. (the “Debtor”) in connection with its Chapter 11 liquidation and has commenced the sale process for the Lane Furniture real estate portfolio on behalf of the Debtor.
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Heritage Global Valuations Appoints Rick Wiorek as Director
April 19, 2023Heritage Global Valuations (“HGV”), a division of Heritage Global Inc. (Nasdaq: HGBL), specializing in the valuation of commercial & industrial assets including inventories and machinery & equipment (“M&E”), announced today that Rick Wiorek, ASA, CEA has joined HGV as a Director.
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Gridiron Capital Promotes Ryan Gardner to Vice President and Jason Atwell to Tax Director April 2023
April 19, 2023Gridiron Capital, LLC (“Gridiron Capital”), an investment firm focused on partnering with founders, entrepreneurs, and management teams, is thrilled to announce the promotions of Ryan Gardner to Vice President and Jason Atwell to Tax Director.
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BizCap Secures Investment to Support Oakwolf Group Hyper Growth
April 19, 2023BizCap®, a commercial finance firm established in 2002, is pleased to announce that it has secured a multi-million dollar senior debt investment supporting the hyper growth of Oakwolf Group, a top provider of Healthcare IT (HCIT) services and solutions throughout the United States.
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InterNex Capital Announces $1 Million Facility to Staffing Company
April 19, 2023InterNex Capital provides $1,000,000 facility to a staffing company based in New York. The company sought a broader capital solution beyond factoring, greater flexibility, and a relationship with a lending partner who understood their business and needs.
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SLR Equipment Finance Expands its Sales Management Capabilities and Announces that Matt Ross has Joined the Company
April 19, 2023SLR Equipment Finance is pleased to announce Matt Ross has joined our company as a Senior Vice President – Head of Sales. In his position, Matt will play a key role in leading the Direct Sales Team to drive growth for equipment lessors. Matt was last with Mitsubishi MHCC Inc. and brings years of experience in direct / vendor equipment financing.
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Oxford Commercial Finance Marks First Year with Expanded Working Capital Solutions for SMBs
April 19, 2023Oxford Commercial Finance (OCF), a subsidiary of Oxford Bank ("the Company"), is announcing an expanded line of flexible working capital solutions for small to medium-sized businesses, increased customer base, and new website with helpful resources for business owners.
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Marine Services Company Able to Pursue Wind Energy Business With $2.5 Million Accounts Receivable Financing from Accord Financial
April 19, 2023Accord Financial Corp., one of the U.S. and Canada’s leading independent finance companies ("Accord") (TSX: ACD), is pleased to announce the closing of a $2.5 million credit facility to help a marine services company move into the wind energy space. Accord’s Asset Based Lending Group structured the facility to include a traditional revolving credit package backed by accounts receivable.
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Bastion Management and Hudson Cove Close $100 Million Facility with NexGen Financial Inc.
April 19, 2023Bastion Management ("Bastion"), a private investment firm focused on asset-based lending in the specialty finance sector, announced today that it has agented a $100 million senior debt facility for NexGen Financial Inc. ("NexGen") to support the continued growth of its portfolio. Bastion Management and Hudson Cove Capital Management have provided the funding.
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Cornerstone Business Credit Funds $600,000 Line of Credit to a Commercial Nursery
April 19, 2023Cornerstone Business Credit is pleased to announce the funding of a $600,000 line of credit to a commercial nursery. Traditional bank financing was not an option due to recent losses, so they contacted Cornerstone.
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Ocorian Promotes Tania Mohacs to Chief Commercial Officer
April 19, 2023Ocorian, the specialist global provider of services to financial institutions, asset managers, corporates and high net worth individuals, has appointed Tania Mohacs as Chief Commercial Officer. Tania, who joined Ocorian in 2019, is based in London and was previously Head of Regulatory, Legal and Compliance at Ocorian.
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Runway Growth Announces Expansion of Revolving Credit Facility
April 18, 2023Runway Growth Finance Corp. (Nasdaq: RWAY) (“Runway Growth” or the “Company”), a leading provider of flexible capital solutions to late- and growth-stage companies seeking an alternative to raising equity, today announced the expansion of its existing revolving credit facility with an increase in aggregate commitments to $500 million from KeyBank Specialty Finance, CIBC Bank USA and other lenders.
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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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