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eCapital Expands Transportation Division with 4 Senior Hires
eCapital Corp. (“eCapital” or “the Company”), a leading finance provider across North America and the U.K., today announced the appointments of four Business Developments Officers (BDOs) to further expand the company’s Transportation Division in the U.S. and Canada.
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On November 5, Callodine Group, an asset management firm focused on yield-oriented investment strategies, announced it had entered into a definitive agreement to acquire the loan portfolio and assume the employees and operating costs of Gordon Brothers Finance Company, LLC (GBFC). In connection with the closing of the transaction, GBFC has changed its name to Callodine Commercial Finance (CCF). Led by CEO Gene Martin, and the current investment team, CCF will be the successor firm to Gordon Brothers Finance Company, LLC. Callodine’s acquisition represents approximately $400 million in assets and is being funded in part by new strategic financing from KKR, East Asset Management and Axar Capital Management. BlackRock Capital Investment Corporation (“BCIC”), the most recent majority owner of the business, will also remain a financial partner to CCF. TSL Express' senior editor spoke with Gene Martin and Mark Forti at Callodine Commercial Finance about opportunities in the asset-based lending space and what lies ahead.
TSL Express Daily Headlines & News
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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 The final rules grant permanence to SBA’s program for nonprofit mission lenders, remove outdated limits on non-depository lender participation, increase opportunities for employee ownership, and modernize the credit criteria and underwriting standards to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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Sycamore Tree Capital Partners Closes Third CLO Totaling $401 Million
April 17, 2023Sycamore Tree Capital Partners (“Sycamore Tree”), a specialist asset manager with private and alternative credit investment expertise, announced today the closing of STCP CLO 2023-3, Ltd. (“STCP CLO 3” or “the Fund”), the Firm’s third collateralized loan obligation since inception and the Firm’s second CLO in 2023.
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Jeremy Talton Joins Growth Lending in Texas to Continue Expansion Into the US Market
April 17, 2023Growth Lending, a leading provider of fast, flexible, and tailored funding for growing businesses has appointed Jeremy Talton as Senior Vice President of Sales, as the firm continues to expand its operations in the US.
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