- Westwood Financial Expands Corporate Credit Facility By $145 Million To $470 Million Total
- Victory Park Capital Announces New Warehouse Facility with Zip, Expanding Long-Standing Partnership
- News Detail
- Entrepreneur Growth Capital Provides $17,500,000 Line of Credit to Supply Chain Solutions Provider
- Donald Cosenza, CLFP Joins Maxim Commercial Capital as SVP, Business Development
TSL Express Daily Articles & News
To submit company news and press releases toTSL Express, email tslexpress@sfnet.com.
Today's Top Story
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LSQ Creates $15MM Credit Facility, AR Management Program for Pennsylvania Coal Producer
LSQ, a leading provider of working capital finance and payments solutions, recently expanded its relationship with Wilson Creek Energy by originating a $15 million credit facility for the Pennsylvania-based metallurgical coal producer.
The company will use the additional capital to expand their operations and take on new clients.
As part of the solution, LSQ will also provide Wilson Creek with comprehensive accounts receivable and credit management to help better manage repayment risk and monitor customer health.
TSL Express Trending Story
Featured
Lender Stayed From Proceeding With UCC Article 9 Sale
Moritt Hock & Hamroff recently reported on the impact of the COVID-19 pandemic on Uniform Commercial Code (“UCC”) Article 9 sales. Now, a second significant decision on this issue has been published. While our last alert concerned whether Article 9 sales may proceed in light of Governor Andrew Cuomo’s Executive Order precluding foreclosures (and reported a decision holding such Article 9 sales may proceed), this latest decision addresses the Article 9 “commercial reasonableness” standard in the present environment, holding that the sale terms established by the lender in question were not reasonable and staying the sale for at least thirty (30) days.
TSL Express Daily Headlines & News
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Columbia Banking System and Umpqua Holdings Corporation Announce FDIC Approval and Expected Closing Timeline for Combination
January 11, 2023Columbia Banking System, Inc. ("Columbia") (NASDAQ: COLB), the parent company of Columbia Bank, and Umpqua Holdings Corporation ("Umpqua") (NASDAQ: UMPQ), the parent company of Umpqua Bank, jointly announced that the Federal Deposit Insurance Corporation (the "FDIC") has approved the previously announced combination of the two companies. The FDIC approval was the final outstanding regulatory approval necessary to complete the combination.
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Stellus Capital Management, LLC Provides Unitranche Financing in Support of QHP Capital, L.P.'s Investment in COPILOT Provider Support Services, LLC
January 11, 2023Stellus Capital Management, LLC (“Stellus”), a leader in middle market direct lending, announced today that its affiliates provided senior debt financing and an equity co-investment to support QHP Capital, L.P.’s (“QHP”) investment in COPILOT Provider Support Services, LLC (“COPILOT” or the “Company”).
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SLR Healthcare ABL Provides Financing for a Skilled Nursing Facility
January 11, 2023SLR Healthcare ABL is pleased to announce that it has provided a $4 million asset-based revolving line of credit to a skilled nursing facility in December 2022.
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Abacus Finance Provides Senior Debt Financing to Support the Recapitalization of ROX360 by Fort Point Capital
January 11, 2023Abacus Finance Group, LLC – a leading provider of cash flow-based, classic senior debt for sponsor-led buyouts of companies with $3 million to $15 million in EBITDA – today announced that it served as Senior Secured Credit Facilities Administrative Agent and Lead Arranger for senior secured credit facilities to support the leveraged recapitalization of ROX360 by Fort Point Capital. Additionally, Abacus made an equity co-investment in ROX360.
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Rockland Trust Company and Independent Bank Corp. Appoint Jeffrey J. Tengel as Chief Executive Officer
January 10, 2023Rockland Trust Company and its bank holding company parent Independent Bank Corp. (NASDAQ Global Select Market: INDB) today announced the appointment of Jeffrey J. Tengel as the successor to current Chief Executive Officer, Christopher Oddleifson, effective on or about February 6, 2023.
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Culain Capital Funding Closes $1,000,000 for Specialty Maintenance Staffing Company
January 10, 2023Culain Capital Funding LLC, a specialty finance firm focusing on responsive and efficient funding solutions for small and medium sized business in the United States announces the completion of a $1,000,000 Accounts Receivable Factoring Facility with a startup Specialty Maintenance Staffing Company based in Texas.
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BHI Provides $80 Million Construction Financing for New Gramercy Park Condo At 200 E. 20 Street
January 10, 2023BHI, a full-service commercial bank, announced that it has provided an $80 million construction loan to 200 East 20th St LLC. Owned by the Tidhar Group affiliate, the 200 East project is a development of a new condominium building located at 20th Street and Third Avenue in the Gramercy Park neighborhood of Manhattan.
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Alvarez & Marsal's Global Transaction Advisory Group Expands Offering With Its ESG Transaction Advisory Team
January 10, 2023Leading global professional services firm Alvarez & Marsal (A&M) appointed Garrett Louthan, a professional environmental engineer (P.E.), and Eric Brousseau, as Managing Directors in its new ESG Transaction Advisory practice within the firm’s Global Transaction Advisory Group (TAG)
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Altera Infrastructure Emerges From Chapter 11 With a Strengthened Balance Sheet and Foundation for Long-Term Growth
January 10, 2023Altera Infrastructure L.P. and certain of its subsidiaries (“Altera”), one of the world’s leading suppliers of infrastructure assets to the offshore energy industry, announced today that it has emerged from the chapter 11 process in the United States Bankruptcy Court for the Southern District of Texas after successfully consummating its chapter 11 plan of reorganization (the “Plan”).
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Monroe Capital Supports Argano’s Acquisition of ITK Solutions Group, LLC
January 10, 2023Monroe Capital LLC announced it acted as administrative agent and sole lead arranger on the funding of a senior credit facility to support the acquisition of ITK Solutions Group LLC (“ITK”) by Argano, an existing portfolio company of Trinity Hunt Partners.
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Abacus Finance Provides $17.5 Million in Senior Debt Financing to Support the Leveraged Buyout of Caster Connection, LLC by River Associates Investments
January 10, 2023Abacus Finance Group, LLC – a leading provider of cash flow-based, classic senior debt for sponsor-led buyouts of companies with $3 million to $15 million in EBITDA – today announced that it served as Senior Secured Credit Facilities Administrative Agent and Lead Arranger for $17.5 million in senior secured credit facilities to support the leveraged buyout of Caster Connection, LLC. by River Associates Investments.
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Calculum and LSQ Sign Partnership Leveraging Advanced Analytics in Supply Chain Finance
January 10, 2023LSQ, a leading provider of working capital finance and payments solutions, and Calculum, an industry leader in financial artificial intelligence (AI) and data-analytics services, today announced an agreement to collaborate and combine LSQ working capital and Supply Chain Finance solutions with Calculum's data analytics services as well as their technical expertise. With the era of free money fading into history and rising interest rates it is the perfect time for corporates to look at different ways to improve free cash flow.
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Solifi and Codat Partner to Offer Integrated Informed Insights
January 10, 2023Solifi™, a global fintech software partner for secured finance, announced its newest technology partnership with Codat to make it easier for asset-based lending (ABL) firms to make smarter, faster, and actionable credit decisions. Using pre-built APIs, Codat enables consented business data from small- and medium-sized business (SMB) banking, accounting, and commerce platforms to integrate into operational systems in real time.
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ExeVir Bio Secures EUR 25 Million Venture Debt Financing From the European Investment Bank
January 9, 2023ExeVir Bio, a biotech company developing robust nanobody therapies for broad protection against infectious diseases, today announced that it has secured a venture debt financing agreement of up to EUR 25M (around USD 26.5m) with the European Investment Bank (EIB)*. The EIB financing will help advance ExeVir’s lead asset, XVR012, into clinical trials for COVID-19.
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White Oak Provides a $3MM Factoring Facility to a Leading Provider of Temporary Staffing and Recruiting Services
January 9, 2023White Oak Commercial Finance (“White Oak”), an affiliate of White Oak Global Advisors, LLC, today announced that it has provided a $3 million factoring facility to a leading provider of temporary staffing and recruiting services with a more than 70 year history of family ownership successfully serving clients across the country.
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United Furniture/Lane Proposes to Convert Filing to Chapter 11 Bankruptcy
January 9, 2023Approximately 30 minutes before the U.S. Bankruptcy Court in the Northern District of Mississippi was set to hear Wells Fargo N.A.’s petition for involuntary bankruptcy proceedings and to appoint an interim trustee to oversee the dissolution of United Furniture Industries’ assets, UFI presented a motion to dismiss the petition and to convert the Chapter 7 filing to a Chapter 11 bankruptcy in order to liquidate its assets.
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What’s Ahead for Bed Bath & Beyond in Wake of Bankruptcy Warning
January 9, 2023When Bed Bath & Beyond leaders speak to investors Tuesday morning, they won’t simply report sales and earnings results. They will have to address a stark reality: The cash-strapped home goods retailer is running out of time. On Thursday, Bed Bath warned it may have to file for bankruptcy, saying it could soon be unable to cover costs as sales lag and store traffic dwindles. It also said it’s struggling to keep items in stock, as it runs low on cash and works to remedy strained relationships with suppliers.
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North Mill Reports Record Originations For 2022
January 9, 2023North Mill Equipment Finance LLC (“NMEF”), a leading independent commercial equipment lender located in Norwalk, Connecticut, announced today that 2022 was the best year in the company’s 65-year history. Organic lease and loan originations reached an all-time high and financial and operational key performance indicator (“KPI’s”) exceeded all expectations.
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Cohn & Dussi Attorneys Named to Boston Magazine's Top Lawyers List
January 9, 2023Cohn & Dussi, a full-service law firm with its principal office in Boston, is pleased to announce that four attorneys from the firm were named Top Lawyers by Boston magazine. Boston magazine's Top Lawyers List recognizes lawyers throughout Greater Boston for excellence in the field as chosen by their peers.
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EagleBank Names New Chief Risk Officer
January 9, 2023EagleBank, one of the largest community banks in the Washington, DC area, today announced the appointment of Jay Namputhiripad as Chief Risk Officer, replacing Jeff Curry after his retirement this month. A 23-year veteran in the risk and compliance field, Namputhiripad will be responsible for overseeing EagleBank’s internal and external risk and compliance processes.
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