- Transparency Analytics Completes Second Funding Round Led by Deciens Capital
- Donald Cosenza, CLFP Joins Maxim Commercial Capital as SVP, Business Development
- Market Sizing & Impact Study
- Westwood Financial Expands Corporate Credit Facility By $145 Million To $470 Million Total
- MidCap Financial Announces Key Leadership Appointments as Part of Planned Succession
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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Encina Lender Finance Expands and Strengthens Senior Management Team With Addition Of Four Industry Veterans and Key Promotion
Encina Lender Finance, LLC (“ELF”) announced today a significant expansion to its executive leadership team designed to bolster the company’s position as a leading nonbank lender finance platform serving both commercial and consumer specialty finance companies in the U.S. and Canada.
The new hires are: Edward Chang - chief executive officer; Mark Kassis - head of Risk Management, Commercial Vertical; Bill Laird – head of Risk Management, Consumer Vertical and David Mattei – managing director, Funding Strategy. Additionally, John Thomas was promoted to president and chief operating officer.
TSL Express Trending Story
Featured
Receivership Strategy When Risk is Long and Time is Short
Lenders are faced with difficult circumstances when a borrower’s business and the bank’s collateral is deteriorating. The downward spiral often includes declining or negative earnings, insufficient cash flow, declining enterprise value, escalating trade debt and “tripped” financial covenants. Further, management has not been able to reverse these negative trends and worse, have likely not been able to forecast these problems before they were reported. This will certainly erode trust between a borrower and their banker. When a lender is primarily concerned with protecting its collateral in a deteriorating situation, measuring alternative options can be considered relative to control, time, exposure and cost.
TSL Express Daily Headlines & News
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Gordon Brothers Partners with Zaralo to Expand Nicole Miller
September 26, 2022Gordon Brothers, the global advisory, restructuring and investment firm and majority owner of Nicole Miller, has partnered with Zaralo LLC to expand the global, eponymous fashion and lifestyle brand.
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Lenders Funding Announces Retirement of Chief Operating Officer and Chief Credit Officer, Harvey Friedman And Appointment of John Benkovich
September 22, 2022Lenders Funding, LLC, a Great Elm Capital Corp. specialty finance company, (“we,” “us,” “our,” the “Company” or “LF”) announced today that Chief Operating Officer and Chief Credit Officer, Harvey Friedman, will be retiring after leading its credit operations and overall administration for 18 years. In retirement, Mr. Friedman will assume the role of Vice Chairman Emeritus. Mr. Friedman has served the factoring and asset-based lending industry for over 45 years. Prior to joining LF, Mr. Friedman was the Executive Vice President and Chief Credit Officer at Gibraltar Corporation of America (“GCA”), a wholly owned subsidiary of United Jersey Bank where, for 32 years he managed a $900 million secured loan portfolio.
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Huntington Bank Celebrates Opening of Commercial Bank Headquarters in New Huntington Tower in Downtown Detroit
September 22, 2022Today, Huntington National Bank celebrates the grand opening of Detroit's Huntington Tower, located at 2025 Woodward Avenue. The new tower is located in the heart of The District Detroit, a world-class, mixed-use sports and entertainment district emerging in the city. The Detroit Huntington Tower is the headquarters for Huntington's Commercial Bank and is the newest office building development in the area in more than 30 years.
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Wheels Donlen Launches New Equipment Finance Platform Capteris Capital
September 22, 2022Wheels Donlen, a premier fleet financing company backed by Apollo (NYSE:APO), announced the launch of a new equipment finance business that will be focused on providing dynamic funding solutions to the mid-market, large corporate, and financial sponsor segments.
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Loop Capital Markets Selects Matrix Applications for Technology Solutions and Outsourcing Services
September 22, 2022Matrix Applications, LLC ("Matrix") is pleased to announce that Loop Capital Markets, LLC ("Loop Capital") has selected Matrix as a key strategic partner and provider for a variety of technology and outsourcing services. Loop Capital is leveraging this partnership to support the growth of its U.S broker dealer business.
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Nexus Renewables Closes on $5 Million USD Development Financing Facility with Scale
September 22, 2022Nexus Renewables Inc. ("Nexus"), a North American renewable developer having more than 1 GW of solar and energy storage projects under development, has closed a $5 million USD asset-backed credit facility with Scale Microgrid Solutions ("Scale"), a Warburg Pincus portfolio company.
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J D Factors Announces Factoring Facilities
September 22, 2022J D Factors announced it provided the following factoring facilities: $500,000 to a transportation company in Georgia; $200,000 to a transportation company in Ohio; $100,000 to a transportation company in Alberta; $200,000 to a transportation company in Massachusetts.
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Online Auction Features Live Event and Entertainment Production Rental Gear from North American Leader PRG
September 22, 2022An October 4 online auction by Tiger Group is an opportunity to acquire professional audio-visual gear from the existing rental inventories of PRG locations in California and Florida. All told, the sale includes more than 700 lots of digital and film cameras, lenses, projectors, screens and monitors by brands such as Arri, Barco, Canon, Cooke, Christie, Fuji, Red, Sony and Zeiss, to name a few.
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GBC's Partnership with Innovation Refunds Helps Customers Collect Money from the Government
September 22, 2022Georgia Banking Company ("GBC") has teamed up with Innovation Refunds ("IR"), an industry leader specializing in the federal Employee Retention Credit (ERC) and payroll tax refunds, to help businesses claim up to $26,000 per employee kept on payroll during COVID-19.
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Patent Portfolio Acquisition or Licensing Opportunity - Rapid Precision Liquid Heating Technology
September 21, 2022Hilco Streambank is seeking offers to acquire or license the intellectual property portfolio and related assets of Heatworks Technologies, Inc., including a robust, worldwide patent portfolio, trademarks, CAD and other design files, product prototypes, test data, proprietary software, and more. Finished inventory embodying the commercialized technology may also be available.
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Siena Healthcare Finance Hires VP, Underwriting
September 21, 2022Siena Healthcare Finance is pleased to announce the addition of Linda Kasian as VP, Underwriting. In her new role, Linda will be responsible for underwriting new healthcare transactions and working with the business development team in reviewing new opportunities.
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Keystone Equipment Finance Corp. Launches New Website
September 21, 2022Keystone Equipment Finance Corp. (Keystone), an independent equipment finance company, has launched its new website at existing domain www.keystoneefc.com. In addition to a complete design makeover, enhanced imagery and new sitemap, the website also has a toggle so viewers can read the content in Spanish.
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Agora Data Secures $100M Credit Facility from Credit Suisse
September 21, 2022Agora Data, Inc., the FinTech company transforming automotive financing by providing U.S. independent auto dealers and finance companies precision loan performance analytics and access to ample, affordable capital, closed a $100 million revolving credit facility with Credit Suisse Group AG.
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ENGS Commercial Capital Provides $1.25 Million Factoring Facility to Growing Bottling Company
September 21, 2022ENGS was able to quickly step in and provide a $1,250,000 accounts receivable factoring facility to meet the needs of the growing company. As the company continues to expand across the Pacific Northwest and beyond, they will also have the ability to bundle ENGS’ equipment financing into their working capital facility which will allow them to expand production and further facilitate growth.
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NutraNomics Announces Debt Restructuring and New Credit Facility
September 21, 2022NutraNomics, Inc. (OTC PINK:NNRX), an emerging leader in organic plant-based nutritional science and innovation, and The Plant (www.theplantlabs.com), a NutraNomics company, is pleased to report that it successfully retired a portion of its debt, and secured an ongoing line of credit to support its growing operational needs and increasing production resource requirements.
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Forbright Announces Key Additions to Senior Leadership
September 21, 2022Forbright, Inc. and Forbright Bank today announced three new executives who will oversee the finance and communications departments as the Bank continues to accelerate the transition to a sustainable and clean energy economy. Aaron Juda, currently Chief Strategy Officer of Forbright Bank, has been promoted to the role of Chief Financial Officer of Forbright, Inc. Pat Rusnak joins Forbright Bank as Chief Financial Officer. And Ben Wakana joins Forbright Bank as Director of Communications.
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EisnerAmper Named “Best Auditor— Middle Market” at HFM U.S. Services Awards
September 21, 2022EisnerAmper was named the “Best Auditor — Middle Market” at the HFM U.S. Services Awards 2022, which were held on September 13 in New York City. The prestigious HFM U.S. Services Awards recognize hedge fund service providers that have demonstrated exceptional client service, performance and innovation over the past 12 months.
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TA Closes $1.1B Debt Fund V
September 21, 2022TA Associates, a global growth private equity firm, has closed its TA Debt Fund V with over $1.1 billion in commitments, exceeding its target of $600 million. The fund will invest in the credits of both new and existing TA portfolio companies, and more broadly, an opportunity set to include senior secured debt while continuing to invest in traditional TA subordinated debt investments. TA Debt Fund V will also give the option to invest across multiple credits within the same company.
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Trinity Capital Inc. Further Expands Origination Team with Lauren Cosentino
September 21, 2022Trinity Capital Inc. ( Nasdaq: TRIN) ("Trinity" or the "Company"), a leading provider of diversified financial solutions to growth stage companies, today announced the appointment of Lauren Cosentino as Managing Director, Life Sciences in the Research Triangle Park region of North Carolina.
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Grant Thornton Survey: CFOs Fret Over Recession, but Majority Still see Goals Within Reach
September 21, 2022A new survey from Grant Thornton LLP, one of America’s largest audit, tax and advisory firms, reveals a sharp and continual decline in optimism for chief financial officers (CFOs) across the country. Many of the same factors contributing to pessimism in the first quarter of 2022 are still bothering CFOs — but now, finance leaders are even more worried. In fact, 72% of the 249 CFOs surveyed expect hikes in interest rates will lead to a recession.
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