- Apotheo Capital Launches to Deliver Integrated Capital and Financial Advisory Solutions for Complex Situations
- Baker Garrington Provides a Factoring Facility for an Oilfield Trucking Company Operating in the Permian Basin
- Briar Capital Real Estate Fund Provides $10.3MM Real Estate Loan to a Florida-Based Seafood Processor and Wholesaler
- TSL Feature Articles
- Celtic Capital Corporation Provides Line of Credit for Snack Foods Distributor
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ALT Announces $200 Million in New Funding Led by Atalaya Capital Management as It Launches ALT Advance, Its New Lending Product
ALT, a simple, modern investment platform that lets you buy and sell alternative assets just like stocks, today announced $200 million in new debt financing led by Atalaya Capital Management. The new funding comes on the heels of ALT's introduction of ALT Advance, a new lending product that lets investors borrow cash against their vaulted assets without having to sell them
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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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VSE Corporation Amends, Extends and Upsizes Credit Facility
October 11, 2022VSE Corporation (NASDAQ: VSEC, "VSE", or the "Company"), a leading provider of aftermarket distribution and maintenance, repair and overhaul ("MRO") services for land, sea and air transportation assets for government and commercial markets, today announced that it has successfully amended, extended and upsized the Company’s existing credit facility with its lending syndicate.
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First Citizens Expands Middle Market Banking to Southwestern U.S.
October 11, 2022First Citizens Bank today announced the expansion of its Middle Market Banking unit to support the financial needs and goals of midsize businesses across Southern California and the Southwest region. The expansion follows the official launch of First Citizens Middle Market Banking in the Southeastern U.S. in September and the First Citizens Bank merger in January with CIT Group, a leading commercial lender with long experience in serving the middle market.
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Wintrust Business Credit Hires Andy Hall as National Portfolio Manager to Support National Expansion Plan
October 11, 2022Wintrust Business Credit (WBC), the asset-based lending (ABL) unit of Wintrust Commercial Banking, today announced the hiring of Andy Hall as National Portfolio Manager as part of its nationwide expansion effort. Working alongside National Sales Manager Jason LeuVoy, Hall will be responsible for building a full-scale credit team to pre-screen, underwrite, document and monitor deals as WBC expands its asset-based lending services from a regional provider to a national platform.
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FocalPoint Advises Tillamook Country Smoker on its Refinancing
October 11, 2022Insignia Capital Group, LP (“Insignia”) has successfully completed the refinancing of its portfolio company Tillamook Country Smoker, Inc. (“Tillamook” or the “Company”), a leading provider of hardwood-smoked meat snacks. The Company secured $75 million of total committed capital for the purposes of refinancing existing debt, funding working capital growth, and funding a dividend to Insignia. FocalPoint, a division of B. Riley Securities, Inc. ("FocalPoint"), served as exclusive financial advisor to the Company and arranged the financing.
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Gridiron Grows Associate Team with Alumni and New Talent
October 11, 2022Gridiron Capital, LLC (“Gridiron Capital”), an investment firm focused on partnering with founders, entrepreneurs, and management teams, is pleased to welcome Ryan Gardner back to the firm as a Senior Associate. In addition, Gridiron adds to its team Eric Albright and Virginia “Jinx” Charman.
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Park Cities Asset Management Provides $30 Million of Debt Financing Commitments to Applied Data Finance
October 11, 2022Park Cities Asset Management, LLC (“Park Cities”), an alternative investment firm focused on providing flexible debt solutions, announced today that it has provided $30 million of debt capital commitments to Applied Data Finance (“ADF”). Through its Personify Financial platform, ADF offers underestimated Americans an affordable, responsible alternative for unsecured personal installment loans.
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Houlihan Lokey Expands its Cybersecurity Coverage Capabilities
October 11, 2022Houlihan Lokey (NYSE:HLI), the global investment bank, announced today that Keith Skirbe has joined the firm’s global Technology Group as a Managing Director covering the cybersecurity sector. He is based in San Francisco.
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Lighthouse Provides $5,000,000 Credit Facility to North Carolina Importer & Distributor of Testing & Measuring Instruments
October 11, 2022Lighthouse Financial Corp. is pleased to announce the completion of a $5,000,000 credit facility for an importer and distributor of electronic diagnostic and measurement equipment. The company designs and manufactures tools utilized in the automotive, commercial, industrial, and DIY markets and distributes internationally. The company continually focuses on innovation to meet new requirements and satisfy needs in the electrical market.
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U.S. Middle Market Revenue Grew 12% in the First Two Months of Q3 2022
October 11, 2022Middle market private companies in the Golub Capital Altman Index experienced year-over-year revenue growth of 12% and earnings decline of 2% during the first two months of the third quarter of 2022. This compares to year-over-year revenue growth of 12% and earnings growth of 2% in the second quarter of 2022.
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VPX Seeks Chapter 11 Protection as It Transitions to World Class Distribution Network
October 11, 2022Today, Vital Pharmaceuticals, Inc. (“VPX Sports” or “Vital”), along with certain of its domestic subsidiaries and affiliates, announced it has filed voluntary petitions for protection under Chapter 11 of the Bankruptcy Code in the Southern District of Florida. VPX Sports is the maker of Bang energy drinks, among other consumer products.
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Austin Financial Services Closes a $6.5MM Credit Facility to a Print & Digital Visual Communications Company
October 10, 2022Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $6.5MM working capital and equipment term loan facility to a print & digital visual communications manufacturer. Proceeds from AFS’ revolver were used to refinance the Company’s existing bank facility and provide ongoing working capital support. AFS also brought in a new bank partner to help the company with their CRE financing needs.
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CherCo, LLC Completes a new Financing, Armory Securities, LLC Serves as Advisor
October 10, 2022Armory Securities, LLC is pleased to announce that CherCo, LLC has completed a new financing consisting of a $55 million senior secured term loan and $5 million of equity. Armory served as financial advisor and placement agent to CherCo for the transaction.
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Replimune Secures $200 Million in Non-Dilutive Debt Financing from Hercules Capital, Inc.
October 10, 2022Replimune Group, Inc. (NASDAQ: REPL), a clinical stage biotechnology company pioneering the development of a novel class of tumor-directed oncolytic immunotherapies, today announced that it has obtained a $200 million non-dilutive term loan facility from Hercules Capital, Inc. (NYSE:HTGC), a leader in customized debt financing for companies in the life sciences and technology-related markets.
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Sheer Logistics Announces Growth Investment by Industry Veterans Eddie Leshin and Brian Winshall and Monroe Capital
October 10, 2022SheerTrans Solutions ("Sheer Logistics") announced today that it completed a debt and equity co-investment with industry veterans Eddie Leshin and Brian Winshall of Woodlawn Partners and Monroe Capital LLC. Woodlawn Partners and Monroe Capital partnered with Joe Egertson, the founder of Sheer Logistics, who has retained a significant ownership stake in the business and will continue as CEO.
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Regents Capital Closes $100.0 Million Bank Credit Facility
October 10, 2022Regents Capital Corporation (Regents), a leading provider of equipment leasing and financing solutions to middle-market borrowers, announced it has entered into a $100.0 million three-year revolving credit facility with Bank OZK (NASDAQ: OZK), a regional bank based in Little Rock, AR. The new facility includes an accordion of up to an additional $50 million and follows a successful $25.0 million investment-grade rated corporate note financing announced by the company in January 2022.
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Seacoast Completes Acquisitions Of Apollo Bancshares, Inc. and Drummond Banking Company
October 10, 2022Seacoast Banking Corporation of Florida, the holding company for Seacoast National Bank, announced today the completion of its acquisitions of Apollo Bancshares, Inc. (“Apollo”), parent company of Apollo Bank and of Drummond Banking Company (“Drummond”), parent company of Drummond Community Bank effective October 7, 2022. The mergers of Apollo Bank and Drummond Community Bank with and into Seacoast National Bank were also effective October 7, 2022 with Seacoast National Bank being the surviving financial institution.
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Senior Credit Officer Joins First Internet Bank’s SBA Team
October 10, 2022First Internet Bank announced today that David Bybee has joined its Small Business Administration (SBA) lending team as Vice President, Senior Credit Officer. In this role, he will oversee credit guidelines, underwriting and the credit approval process for the bank’s small business lending effort
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Enerflex Ltd. Announces Successful Placement of Committed Financing for Pending Acquisition of Exterran Corporation
October 10, 2022Upon closing, the committed financing for the pro forma business is expected to comprise of: A private offering (the "Offering") of U.S.$625 million aggregate principal amount of 9.00% senior secured notes due 2027 (the "Notes"); Commitments from a syndicate of financial institutions for a newly drawn U.S.$150 million three-year secured term loan credit facility, and as previously announced, a U.S.$700 million three-year secured revolving credit facility, which the Company expects to be drawn by approximately U.S.$227 million upon closing.
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Tradecycle Capital Delivers Two New Accounts Payable Finance Facilities in September
October 10, 2022Tradecycle Capital, an Indianapolis based trade finance provider, announced it funded two new revolving accounts payable funding facilities in September. The first, is a $3,000,000 limit to a privately owned manufacturer of bean bag furniture and pool float products. Tradecycle was introduced to the company by their senior lender to assist with foreign sourcing of product.
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Amendment of Short-Term Loan Facility into new Term Loan Facility With Oaktree
October 10, 2022Under the terms of such refinancing, the Company has partially repaid the outstanding amounts under the Short-Term Loan Facility and amended the facility into a new senior secured four year term loan facility provided by Oaktree in a principal amount of US$50 million (the “Term Loan”).
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