- Trinity Capital Inc. Provides $20 Million in Growth Capital to Emboline, Inc. to Advance Interventional Heart Procedure Technology
- Dykema’s Chicago Office Adds Estate Planning Attorney Todd E. Wallace
- Jennifer Palmer Named to Inc. Female Founders 500 for Leadership in Women-Focused Lending
- CVC Credit Prices First new CLO of 2026
- Market Sizing Study
TSL Express Daily Articles & News
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Eastern Bank Welcomes Justin Mills As Senior Vice President, Commercial Relationship Manager, Asset-Based Lending
Eastern Bank is pleased to welcome Justin Mills as a Senior Vice President, Commercial Relationship Manager focused on asset-based lending. Based in Boston, Mr. Mills’ experience spans asset-based lending as well as broader commercial lending.
TSL Express Trending Story
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On April 30, 2020, the Federal Reserve announced that it is expanding eligibility to participate in the Federal Reserve’s Paycheck Protection Program Liquidity Facility (the “PPPLF”) to all lenders eligible to originate Paycheck Protection Program loans.[1] The PPPLF permits eligible PPP lenders to pledge PPP loan notes to the Federal Reserve in exchange for a low interest, non-recourse loan from the Federal Reserve in the amount of the pledged PPP loan note.
Program Update
When originally announced, the PPPLF was only available to PPP lenders that are depository institutions. Now, all PPP lenders approved by the SBA, including banks, credit unions, Community Development Financial Institutions, members of the Farm Credit System, small business lending companies licensed by the SBA, and some financial technology firms, are eligible to participate in the PPPLF.
TSL Express Daily Headlines & News
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BofA Names Jim Morehead President of Seattle
December 12, 2022Bank of America has named Jim Morehead president of Bank of America Seattle. The company also announced that Alex Yang will become Seattle Market Executive, replacing Jeremey Williams who was recently promoted to Community Relations Manager (CRM) Executive.
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Sentinel Capital Partners Closes $5.2B in Capital
December 12, 2022Sentinel Capital Partners, a private equity firm that invests in midmarket companies, has closed its Sentinel Capital Partners VII LP at $4.3 billion and Sentinel Junior Capital II LP at $835 million. Kirkland & Ellis LLP and Credit Suisse Securities LLC supported and represented Sentinel with the funds.
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Rosenthal Closes Six-Figure Receivables Finance Program for U.S. Thermal Product Exporter
December 12, 2022Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending, purchase order financing, d2c and e-commerce inventory financing firm in the United States, today announced the completion of a six-figure trade receivables finance program for a manufacturing company that sells thermal products into the Asia-Pacific region.
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SunStream Bancorp Provides Senior Bridge Financing to Parallel
December 12, 2022SunStream Opportunities LP ("SunStream"), an affiliate of SunStream Bancorp Inc., a joint venture sponsored by SNDL Inc. (Nasdaq: SNDL) ("SNDL"), today announced the closing of a US$10 million bridge term loan ("Interim Bridge Loan") to Surterra Holdings Inc. d.b.a Parallel Brands, and certain affiliates, (collectively, "Parallel"). SunStream anticipates announcing further details in respect of its investment in Parallel in the first quarter of 2023.
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Evolus Extends Term of Credit Facility with Pharmakon Advisors
December 12, 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.
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Audax Private Debt Provides Financing to Support The Stephens Group’s Investment in Quality Valve
December 12, 2022Audax Private Debt announced that, as Administrative Agent and Sole Lead Arranger, it provided a unitranche credit facility to support the acquisition of Quality Valve (the “Company”) by The Stephens Group, a Little Rock-based private investment firm.
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Julien Lacoste Joins Accord Financial as Manager, Business Development
December 12, 2022Julien’s responsibilities will include helping Canadian businesses achieve their long-term business goals by simplifying access to capital through Accord Financial solutions. His primary focus will be the various regions of Quebec to ensure that small and medium-sized enterprises (SMEs) are well served.
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Northeast Bank Announces Significant Loan Purchase Volume
December 12, 2022Northeast Bank (the “Bank”) (NASDAQ: NBN) announced today that since September 30, 2022, the Bank has purchased or entered into agreements to purchase primarily commercial real estate loans in the amount of unpaid principal balance of up to $1.16 billion. The Bank’s commercial real estate loans totaled $996.8 million at September 30, 2022.
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Aequum Capital Provides $7.5MM Asset-Based Revolver to Midwest Based Specialty Online Pharmacy
December 12, 2022Aequum Capital is pleased to announce it recently closed a $7,500,000 credit facility to a Midwest-based industry-leading technology focused independent online pharmacy. The Company primarily serves the specialty pharmaceutical market and provides better access to specialty medications that are harder to access at large chains.
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ROK Financial Announces New Chief Executive Officer
December 12, 2022ROK Financial, a leader in the alternative and commercial lending space appoints Patrick Manning as the new Chief Executive Officer of the firm. Manning will assume the day-to-day leadership of the company along with leading the charge on the company's initiatives. Manning succeeds James Webster, who now sits as Executive Chairman.
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Axiom Bank, N.A. Announces Senior Account & Portfolio Managers
December 12, 2022Central Florida-based bank, Axiom Bank, N.A., has named Tony Lee and TC Wilde to their asset-based lending (ABL) division headquartered in Dallas. Both Lee and Wilde will hold the title of Senior Vice President, Senior Portfolio Manager/Senior Account Manager.
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B. Riley Securities Advises Florida Retina Institute on its Recapitalization by RCA
December 12, 2022B. Riley Securities, Inc., a leading full-service investment bank, is pleased to announce it served as financial advisor in the successful recapitalization of Florida Retina Institute ("FRI"), the largest independent vitreoretinal services provider in Florida, by Retina Consultants of America ("RCA"), a comprehensive physician management services organization.
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Sallyport Commercial Finance, LLC Promotes Olivia Hudson to Senior Account Executive
December 8, 2022Sallyport Commercial Finance, LLC is thrilled to announce the promotion of Olivia Hudson to senior account executive. As account executive over the last four years, Olivia has been an integral part of Sallyport’s growth and success by developing and managing relationships with her US & Canadian clients.
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Gunvor Group Closes 570 mln Euro Credit Facility
December 8, 2022Geneva-based energy trader Gunvor Group on Wednesday said it has closed a 570 million euro ($597.65 million) loan facility for natural gas storage in Europe. The credit arrangement has been supported by eight banks, enabling the arrangement to expand to cover eight eligible natural gas storage locations, up from three, the company said.
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November Commercial Chapter 11 Bankruptcies Increase 74 Percent Over Last Year
December 8, 2022ommercial Chapter 11 filings increased 74 percent to 345 in November 2022 from the 198 filings recorded in November 2021, according to data provided by Epiq's Bankruptcy Analytics platform. The November 2022 commercial Chapter 11 filing total was lifted by the more than 100 cases related to the Chapter 11 filing on November 11 by crypto exchange FTX Trading, Ltd. Total commercial filings increased 17 percent to 1,848 in November over 1,586 total filings in November 2021. Subchapter V small business filings increased 38 percent to 117 in November 2022 from 85 filings in November 2021.
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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.
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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.
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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.
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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.
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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”).
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