- Market Sizing & Impact Study
- Seth Friedman of Abacus Finance Group Appointed to SBIA Board of Governors as Northeast Regional Chair
- Essex Capital Group Advises ProTelesis on $4.58 Million Debt Financing to Support Shareholder Buyout and Strategic Acquisition of AmerX Security
- Law Firms Winston & Strawn, Taylor Wessing in Talks to Merge
- SFNet New Member Spotlight: Cascade Credit Services, LLC
TSL Express Daily Articles & News
To submit company news and press releases toTSL Express, email tslexpress@sfnet.com.
Today's Top Story
Featured
Fifth Third Business Capital Provides a New $15 Million Senior Credit Facility to Support the Refinancing of Puraglobe Syntainics, LLC
Fifth Third Business Capital announced it has provided a new $15 million senior credit facility, consisting of a capital expenditure facility and revolving line of credit to support the refinancing of Puraglobe Syntainics, LLC. Puraglobe Syntainics, LLC blends, packages, and distributes sustainable, full synthetic motor oils for passenger cars and motorcycles.
TSL Express Trending Story
Featured
Lender Compliance Implications of the 60-Day PPP Loan Forgiveness Application Deadline
Under Section 1106 of the CARES Act, Paycheck Protection Program (“PPP”) loans can be forgiven, in whole or part, under certain conditions. The SBA has continued to release guidance with respect to the lender review process for loan forgiveness applications, most recently in the form of an Interim Final Rule published May 22, 2020.
This new rule, the SBA Loan Review Procedures and Related Borrower and Lender Responsibilities (“Loan Review Process IFR”), provides important additional guidance with respect to a lender’s responsibilities for processing loan forgiveness applications in a timely and compliant manner. The rule also describes the circumstances under which a lender may lose its processing fee, and potentially, the loan guaranty.
While further guidance is expected, the Loan Review IFR outlines the general process for submission and processing of the loan forgiveness applications.
TSL Express Daily Headlines & News
-
GSilver Arranges US$5M Debt Facility
December 8, 2022Guanajuato Silver Company Ltd. (the "Company" or "GSilver") (TSXV:GSVR)(AQUIS:GSVR)(OTCQX:GSVRF) is pleased to announce that it has signed a new concentrate and pre-payment credit facility with Ocean Partners (UK) Limited ("Ocean Partners"), a UK based metals offtake and trading firm, to provide a US$5.0M revolving credit facility (the "New Facility") for operating and working capital purposes.
-
Evolus Extends Term of Credit Facility with Pharmakon Advisors
December 8, 2022Evolus, Inc. (NASDAQ: EOLS), a performance beauty company with a customer-centric approach focused on delivering breakthrough products, today announced it has extended the expiration date of the second undrawn tranche under its existing term loan financing facility with investment funds managed by Pharmakon Advisors, LP to December 31, 2023.
-
Trinity Capital Inc. Announces Joint Venture
December 8, 2022Trinity Capital Inc. (NASDAQ: TRIN, TRINL) ("Trinity" or the "Company"), a leading provider of diversified financial solutions to growth-stage companies, today announced that it entered into an agreement (the "JV Agreement") to co-manage a newly formed joint venture, i40, LLC (the "JV"), with certain funds and accounts managed by a specialist credit manager with over $5 billion of assets under management. The JV will invest in loans and equipment financings to growth-stage companies that have been originated by Trinity.
-
Regions Bank Announces Creation of Franchise Lending Team
December 8, 2022Regions Bank on Wednesday announced the creation of a Franchise Lending team led by industry veteran Peter Salas. A key part of Regions’ services designed to support small-business growth, Salas and his team are focused on helping drive business sustainability and expansion through their specialization in franchise concepts.
-
Avant Secures $250 Million In Funding From Ares Management Corporation
December 8, 2022Avant, LLC, a credit-first financial technology company* that provides access to innovative financial solutions to underserved non-prime consumers (“Avant”), today announced it secured $250 million of corporate debt and redeemable preferred equity from Ares Management Alternative Credit funds (“Ares”).
-
Leading Food Processing Equipment Provider Added to Sweet Leaf Madison Capital's Preferred Vendor Program
December 8, 2022Sweet Leaf Madison Capital (SLMC), a nationwide provider of tailored debt financing solutions for the middle-market compliant cannabis industry, has just added Baker Perkins to its Preferred Vendor Program. Baker Perkins is a leading food processing equipment supplier providing technology integral to food manufacturers across the bakery, confectionery, food extrusion, breakfast cereal, pet food and biscuit, cookie, and cracker sectors.
-
Curve Defies the Market and Secures $1 Billion Deal from Credit Suisse
December 8, 2022Curve, the fast-growing financial super app, today announced that the company has closed a deal to fund its first $1 billion in loans with a facility provided by Credit Suisse, enabling Curve to scale its lending business, Curve Flex, across the UK, the EU and the United States.
-
J D Factors Announces Factoring Facilities
December 7, 2022J D Factors announced it has provided the following factoring facilities: $75,000 to an electrical distribution company in Quebec; $300,000 to a transportation company in New York; $250,000 to a transportation company in Ohio; $250,000 to a transportation company in Ontario; $250,000 to a transportation company in Nebraska.
-
Cambridge Savings Bank Supports the Redevelopment and Expansion of the Innes Apartments as Lead Bank in $93 Million Construction Loan
December 7, 2022Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and $6 billion in assets, today announced it is the lead bank in a $93 million construction loan to support the Innes Redevelopment Project, with the development of two new multi-purpose buildings in Chelsea, MA. The project is being led by co-developers John M. Corcoran & Company and Joseph J. Corcoran Company, in partnership with real estate private equity firm Marcus Partners.
-
Hays Joins SLR Business Credit
December 7, 2022SLR Business Credit is pleased to announce the addition of Gene Hays as vice president, field examiner. Hays has 20 years of Asset Based Lending experience as an account executive and field examiner, most recently with Celtic Capital. Hayes will be based out of the Sherman Oaks, CA office.
-
Kuber Announces New $80 Million Credit Facility
December 7, 2022Kuber Mortgage Investment Corporation ("Kuber" or the "Company") is pleased to announce an increase to its revolving credit facility (the "Credit Facility") from $40 million to $80 million, effective November 23, 2022. The term of the facility has also been extended for an additional 2 years. This new credit facility now includes an additional Schedule I bank. Kuber is excited to welcome a 2nd Schedule I partner to its lending syndicate.
-
EisnerAmper Named a 2022 “Outstanding Turnaround Firm”
December 7, 2022EisnerAmper was named an “Outstanding Turnaround Firm” by Turnarounds & Workouts, a monthly newsletter that tracks distressed business news throughout the country and has been serving corporate restructuring professionals since 1987.
-
400 Capital Management Closes Third Private Credit Fund “Asset Based Term Fund III” With $580 Million of Committed Capital
December 7, 2022400 Capital Management, an alternative credit asset manager specializing in structured credit with over $5.7 billion of capital under management, announced the final close of its Asset Based Term Fund III (“ABTF III”). The fund, launched in July 2021, drew $580 million of committed capital from institutional investors attracted to the firm’s demonstrated expertise in maximizing value through innovative asset-based private debt strategies, in particular as broad market volatility has upended more traditional strategies.
-
Newtek Secures Approximately $300 Million in Debt Financing to Further its Growth and Objectives for 2023
December 7, 2022Newtek Business Services Corp. (NASDAQ: NEWT) today announced that its new joint venture, Newtek-TSO II Conventional Credit Partners, LP, has closed a $150 million leverage facility from a well-known investment bank to be used to fund the acquisition of non-conforming conventional loans made to middle-market companies as well as small businesses. In addition, Newtek’s portfolio company Newtek Business Lending, LLC, has entered into amendments and extensions of two credit lines with two financing providers for $110 million in total, to fund, among other things, SBA 504 loans.
-
CIT Serves as Co-Lead on $85 Million in Financing for NineDot Energy
December 7, 2022CIT, a division of First Citizens Bank, today announced that its Power and Energy business served as co-coordinating lead arranger on an $85 million construction-to-term debt financing for NineDot Energy LLC (“NineDot Energy”), a leading developer of distributed community energy projects in the New York City metro region.
-
Tidal Financial Group Launches its First Credit ETF Focused on Senior Secured Corporate Credit Opportunities
December 7, 2022Tidal Financial Group (“Tidal”), a leading ETF investment and technology platform, announced the listing of the Senior Secured Credit Opportunities ETF (NYSE: SECD) an actively managed secured credit fund managed by Gateway Credit Partners (“Gateway”). The fund seeks to generate consistent income and preserve capital by investing primarily in a combination of first lien senior secured loans and secured bonds to businesses operating in North America.
-
Stellus Capital Management, LLC Provides Senior Debt Financing in Support of MML Capital Partners’ Acquisition of OnPoint Industrial Services, LLC
December 7, 2022Stellus 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 MML Capital Partners’ (“MML”) acquisition of OnPoint Industrial Services, LLC (“OnPoint” or the “Company”).
-
Runway Growth Capital Announces a Senior Secured Term Loan of $80 Million to Extensiv
December 7, 2022Runway Growth Capital LLC ("Runway"), a leading provider of growth loans to both venture and non-venture-backed companies seeking an alternative to raising equity, today announced the closing of a senior secured term loan of $80 million to Extensiv, a leader in omnichannel fulfillment solutions.
-
Kroll Acquires Appraisal & Valuation Consultants LTD to Create Dedicated Energy Team within the Fixed Asset Advisory Services Practice
December 7, 2022Kroll, the leading independent provider of global risk and financial advisory solutions, today announced the acquisition of Appraisal & Valuation Consultants LTD (AVC), an independent firm that specializes in the valuation of oil, gas, petrochemical, chemical, power, mining, metals processing and offshore facilities for insurance and other purposes.
-
Quotient Completes $105 Million Non-Dilutive Debt Financing
December 6, 2022Quotient Technology Inc. (NYSE: QUOT) (“Quotient” or the “Company”), a leading digital promotions and media technology company, today announced today that it has completed its previously announced $105 million non-dilutive debt financing. On November 30, 2022, Quotient entered into a Financing Agreement with PNC Bank, N.A. (“PNC”), with a senior secured asset-based revolving credit facility in an aggregate principal amount of $50 million.
The Secured Lender
SFNet's The 81st Annual Convention Issue
.jpg?sfvrsn=f1093d2a_0 "#3 -_ 1 (1)")