- Cornerstone Business Credit Funds Asset Acquisition for a Company in the Eyeglass Industry
- First Business Bank's Asset-Based Lending Team Funds $15 Million Revolving Line Of Credit For Washington Outdoor Products Manufacturer
- Republic Business Credit Supports Textile Wholesaler with $2.75 Million Factoring Facility
- Universal Technical Institute, Inc. Announces New Revolving Line of Credit Agreement with Fifth Third Bank, JPMorganChase, Truist, Citi and PNC
- TWFG Expands Credit Facility to $125 Million, Enhancing Capacity for Continued Growth and Strategic Investments
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
SG Credit Partners provides situational capital ranging from $1-$10 million for the lower middle market with a focus on non-sponsored businesses. Headquartered in Southern California with offices in Atlanta, Boston, Chicago and Portland, the SG Credit Partners team has provided in excess of $250 million to 150-plus borrowers across a variety of industries and continues to expand its national footprint. Here, Marc discusses SG Credit’s efforts in going from a niche lender to a broader platform in order to better work with asset-based lenders and banks and why they are broadening their scope.
TSL Express Daily Headlines & News
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Gridium Strengthens Balance Sheet with $14M in Funding to Accelerate Growth
February 27, 2023Gridium, Inc., a decarbonization partner to leading real estate firms, announced total funding of over $14M from investors who see the potential to decarbonize commercial buildings. Gridium also entered into a revolving debt financing facility sized at $10M with Mitsubishi HC Capital America, Inc
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Austin Financial Services Closes a $2.5M Credit Facility to a Manufacturer and Distributor of Health & Beauty Aids
February 27, 2023Austin Financial Services, Inc. (AFS) is pleased to announce closing of a $2.5MM AR & inventory facility to a manufacturer and distributor of health & beauty aids. Proceeds from AFS’ revolver were used to refinance the Company’s existing bank facility and provide ongoing working capital support.
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First Citizens Bank Introduces New Name for Equipment Finance Business
February 27, 2023First-Citizens Bank & Trust Company (First Citizens Bank) today announced that its vendor equipment financing business will now be known as First Citizens Bank Equipment Finance to better communicate its core mission to vendors, customers and prospects.
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Unlock Technologies and Saluda Grade Secure $300 Million Credit Facility from Barclays in Landmark Deal for the Home Equity Investment Industry
February 23, 2023Unlock Technologies Inc. (Unlock), a leading home equity investment technology company, and Saluda Grade, a private alternative real estate investment firm, today announced that they have secured a $300 million revolving credit facility from Barclays Bank PLC (Barclays). The revolving credit facility will provide Unlock with access to significant capital to serve its growing customer base.
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ISG Announces Amended, $140 Million Credit Agreement
February 23, 2023Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm, today announced it has successfully amended its $140 million credit facility at more favorable terms, to improve the firm’s financial flexibility. BofA Securities Inc. was the Sole Lead Arranger and Sole Bookrunner on the transaction.
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Manufacturers Bank Appoints Hillary Savoie as Executive Vice President and Chief Banking Officer
February 23, 2023In this newly created role, Hillary is responsible for all client, marketing, and product development-related activities for Commercial and Business Banking operations, including the Japan/Asia Business Division. Hillary reports to Sander Pruijs, President of Manufacturers Bank, and is a member of the Manufacturers Bank Management Committee.
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First Business Bank Funds $5 Million Factoring Facility for Business Lead Originator
February 23, 2023First Business Bank announces that its Accounts Receivable Financing team recently funded a $5 million Accounts Receivable Factoring facility for a company that generates sales leads for other businesses. The client uses a combination of direct calling aided by artificial intelligence to maximize output for its clients.
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Georgia, Illinois, Kansas and Mississippi Latest States to Push for Commercial Finance Disclosures
February 23, 2023Several more states are attempting to pass commercial finance disclosures bills, including Georgia, Illinois, Kansas and Mississippi. The law firm of Parker Hudson Rainer & Dobbs has supplied a summary of the Georgia legislation. We will publish analyses of the other states shortly. SFNet continues to work with our legislative consultant and other channels to effect the most advantageous outcome for SFNet members.
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Sycamore Tree Capital Partners Closes Second CLO Totaling $404.5 Million
February 23, 2023Sycamore Tree Capital Partners (“Sycamore Tree”), a specialist asset manager with private and alternative credit investment expertise, announced today the closing of STCP CLO 2023-2, Ltd. (“STCP CLO 2” or “the Fund”), the Firm’s second collateralized loan obligation fund.
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B. Riley Acquires Corporate Division of Farber Group, Leading Business Advisory Firm in Canada
February 22, 2023B. Riley Financial, Inc. (Nasdaq: RILY) (“B. Riley”), a diversified financial services platform, today announced that it has acquired the corporate division of Farber Group (‘Farber”), a Toronto-based restructuring and business advisory firm.
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BMO Financial Group and BNP Paribas Announce Global Commercial Agreement
February 22, 2023BMO Financial Group ("BMO") and BNP Paribas announce today a long-term commercial agreement and new cross-border framework to enhance coverage and access to a global network for their commercial banking clients. They will also enter into a comprehensive leasing services partnership. As part of this collaboration agreement, both banks will continue to provide, and expand on international services offered to clients.
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Direct Digital Holdings Announces New $5 Million Revolving Credit Facility with Silicon Valley Bank
February 22, 2023Direct Digital Holdings, Inc. (Nasdaq: DRCT) ("Direct Digital Holdings" or the "Company"), a leading advertising and marketing technology platform operating through its companies Colossus Media, LLC ("Colossus SSP"), Huddled Masses LLC ("Huddled Masses") and Orange142, LLC ("Orange142"), is pleased to announce its entry into the $5 million revolving credit facility with Silicon Valley Bank, as filed with the SEC on a Form 8-K on January 11, 2023.
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Mark Newton-Jones Joins Gordon Brothers as Senior Managing Director, Head of the U.K. & EMEA
February 22, 2023Mark Newton-Jones has joined Gordon Brothers, the global advisory and investment firm, as Senior Managing Director, Head of the U.K. and Europe, the Middle East & Africa (EMEA), serving as the chief executive for the region. Based in London, Newton-Jones will lead the continued expansion of the firm’s valuation, disposition and capital services working in partnership with a seasoned team of professionals to provide comprehensive solutions, including lending to, investing in and providing advice, for retail, consumer, commercial, and industrial clients and partners.
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eCapital Healthcare Division Closes $172.6 Million in 2022
February 22, 2023eCapital Healthcare, a leading and diversified specialty lender servicing healthcare providers and businesses across North America, is pleased to announce it delivered over $172MM in newly originated credit facilities in 2022. eCapital's Healthcare division delivered financial solutions to healthcare providers in skilled nursing, hospital, behavioral health, home health and other ancillary healthcare services sectors.
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Wolters Kluwer Establishes Corporate Performance and ESG Division
February 22, 2023Wolters Kluwer, a global leader in professional information, software solutions and services, has today announced that it intends to bring together four of its global enterprise software businesses to form a new division, Corporate Performance & ESG. This is to meet the growing demand from corporations and banks for integrated financial, operational, and ESG performance management and reporting solutions.
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Child Safety Product Manufacturer Supported by Accord Financial When Previous Financing Exited Market
February 22, 2023Accord Financial Corp., one of North America’s leading independent commercial finance companies ("Accord") (TSX: ACD) moved quickly to help a leading child safety product manufacturer when the company’s previous lender decided to reduce its footprint in the Canadian market. Over the past several years, the company had resolved their supply chain problems by acquiring a contract manufacturer that had been making their products.
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A&G to Auction 12 Party City Leases as Part of Retailer’s Financial Restructuring
February 22, 2023A&G Real Estate Partners, in its capacity as real estate advisor to Party City Holdco Inc. (PCHI), today announced plans to auction 12 Party City leases in six states – the first tranche to become available as part of PCHI’s expedited financial restructuring.
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Silicon Valley Bank Increases CareCloud's Credit Facility to $25 Million
February 21, 2023CareCloud, Inc. (the “Company”) (Nasdaq: CCLD, CCLDP, CCLDO), a leader in healthcare technology solutions for medical practices and health systems nationwide, today announced that Silicon Valley Bank (NASDAQ: SIVB), the bank of the world’s most innovative companies and their investors, has increased its secured line of credit to $25 million to support future growth. The term of the line of credit was also extended by two years, to October 13, 2025.
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Rainier Partners Announces Closing of Inaugural Fund at $300 Million Hard Cap
February 21, 2023Rainier Partners, a private equity firm investing in lower middle-market services businesses, announced today that it has completed fundraising for Rainier Partners Fund I at its hard cap of $300 million, in excess of its $250 million target. The fund’s limited partners include foundations, global asset managers, insurance companies, pension plans, family offices, and high-net-worth individuals.
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Great Rock Capital Adds Senior Originator in Southern California Market
February 21, 2023Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced Todd Nakamoto has joined the firm as a Managing Director of Originations. Todd will be based in Los Angeles and is responsible for expanding the firm’s origination efforts across Southern California.
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