- Jennifer Palmer Named to Inc. Female Founders 500 for Leadership in Women-Focused Lending
- MUFG Announces Participation in Refinancing of $3 Billion Capital Structure for Atlas Renewable Energy
- Essex Capital Group Closes $2.75 Million Short-Term Bridge Facility
- Faccorp Funds Three New Factoring Facilities so far Q1; Supporting Growth Across Security, Infrastructure, and Energy Sectors
- Market Sizing & Impact Study 2023
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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.
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The latest chapter of the PPP was just written with the enactment of the Paycheck Protection Program Flexibility Act of 2020 on Friday, June 5, 2020.
There is a lot of good news in the new PPP “Flexibility Act” for those borrowers in the portfolios of asset-based lenders that have received or still expect to receive a PPP loan. Here are few of the changes that will have significant benefits for PPP borrowers.
TSL Express Daily Headlines & News
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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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First Business Bank Announces Leadership Promotions
January 9, 2023First Business Financial Services, Inc. (the “Company”, the “Bank”, or “First Business Bank”) (Nasdaq:FBIZ) announced promotions among its commercial banking team, advancing key leaders across its Midwest business banking markets.
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Guess Secures $150 Million Line of Credit
January 9, 2023Guess Inc. has entered into a $150 million senior secured asset-based revolving credit facility with a term of five years. This gives the apparel retailer an expansion of its access to capital in North America and extends its existing $120 million North American credit facility. The amended facility includes an option that allows further expansion of the total amount by as much $150 million, subject to certain conditions, according to a release from Guess.
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Abacus Finance Provides Senior Debt Financing to Support the Recapitalization of Accelevation, LLC by LFM Capital
January 9, 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 recapitalization of Accelevation, LLC by LFM Capital.
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Eclipse Business Capital Provides $200MM Revolving Credit Facility For Company Emerging From Bankruptcy
January 9, 2023Eclipse Business Capital LLC (“EBC”), announced today that it has provided a $200 million senior secured revolving credit facility to a leading provider of products to the petrochemical industry. The credit facility is secured by accounts receivable and inventory that will be used to support ongoing working capital needs.
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AG Twin Brook Capital Income Fund Launches with More Than $800 Million in Assets
January 9, 2023--Angelo, Gordon & Co., L.P. (“Angelo Gordon” or the “Firm”), a $52 billion alternative investment firm focused on credit and real estate investing, today announced that AG Twin Brook Capital Income Fund (“TCAP” or the “Fund”) has launched with more than $800 million in total assets. TCAP is a non-traded business development company (“BDC”) that has approximately $530 million in equity and over $1 billion in total investment commitments at launch.
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Tradecycle Capital Delivers Three New Accounts Payable Finance Facilities in December
January 9, 2023Tradecycle Capital, an Indianapolis-based trade finance provider, announced it funded three new revolving accounts payable funding facilities in December. The facilities were: a $4 million limit to a privately-owned manufacturer of specialty beverage dispensers; a $6 million limit for a family and private equity owned manufacturer of specialty equipment and a $3 million limit for a private equity owned company providing installation and repair of residential and commercial roofing systems
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Experienced Transactional Lawyer Brandon Jones Returns to Haynes Boone
January 9, 2023Transactional lawyer Brandon Jones has returned to Haynes and Boone, LLP as a partner in the Business Planning & Tax Practice Group. He will be based in the firm’s Fort Worth office. Brandon has provided sophisticated legal advice for more than 20 years and has represented clients in a broad range of transactional matters, including M&A transactions, public and private offerings, formation of legal entities, negotiating and drafting joint venture agreements, as well as tax planning and structuring across a variety of industries, such as real estate, energy, entertainment, healthcare, hospitality, finance, insurance, retail, waste recycling and disposal, and car wash and auto detailing.
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Heritage Bank Appoints New Executive Vice Presidents and Announces the Retirement of Cindy Hirman, Executive Vice President, Chief Banking Officer
January 9, 2023eritage Bank ("Heritage" or "Bank"), a wholly-owned subsidiary of Heritage Financial Corporation (Nasdaq: HFWA), is pleased to announce the appointment of Matt Ray as Executive Vice President Chief Lending Officer, Amy Curran as Executive Vice President Director of Commercial Banking, Kelli Wilson as Executive Vice President Chief Banking Officer and Sabrina Robison as Executive Vice President Chief Human Resources Officer. Robison assumed her new executive title in September 2022, while Ray, Curran and Wilson assumed their new executive roles on January 1, 2023. Wilson will succeed Cindy Hirman who is scheduled to retire in April 2023.
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Sound Point Capital Provides Financing to Support Salute Mission Critical’s Acquisition of Iconicx
January 9, 2023Sound Point Capital Management (“Sound Point”) is pleased to announce that it acted as Administrative Agent and sole lender on a first lien senior secured credit facility to Salute Mission Critical (“Salute” or the “Company”) for its acquisition of Iconicx Critical Solutions (“Iconicx”).
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FTI Capital Advisors Enhances Healthcare M&A Expertise with the Addition of Three Senior Professionals
January 9, 2023FTI Consulting, Inc. (NYSE: FCN) today announced the continued expansion of FTI Capital Advisors (member FINRA/SIPC), the firm’s wholly owned investment banking subsidiary, with the addition of Rod Rivera as a Senior Managing Director and David Baker and Roger Kahn as Managing Directors.
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Churchill Closes $737 Million Junior Capital Opportunities Fund II, Exceeding $500 Million Target
January 9, 2023Churchill Asset Management LLC, an investment-specialist of Nuveen, today announced that it has completed fundraising for Churchill Junior Capital Opportunities Fund II (the “Fund”) with $737 million of limited partner commitments, exceeding its original target of $500 million and well above the size of its $300 million predecessor fund.
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