- Republic Business Credit Adds Jerry Friedrichs as Senior Vice President to Strengthen Underwriting Excellence
- United Capital Funding Issues $15.45MM in Total Credit Facilities in Q1 2026
- First Business Bank's Asset-Based Lending Team Funds $5.1 Million Credit Facility To Support Manufacturer Acquisition
- Asset-Based Lending & Factoring Surveys
- Convene Hospitality Group Secures $230 Million Of Strategic Growth Capital
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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Citizens Leads $1.8 Billion Asset-Based Senior Credit Facilities for PRO Unlimited
Citizens announced that it has provided incremental financing to San Francisco-based PRO Unlimited Global Solutions Inc. PRO Unlimited is currently owned by EQT Partners.
Established in 1991, PRO Unlimited is a leading provider of end-to-end contingent workforce management solutions to a broad range of global clients and has been a Citizens client for more than 10 years.
TSL Express Trending Story
Featured
SFNet Sends Letter to SBA and Treasury in Support of Non-bank Lenders Under CARES Act
SFNet’s CEO submitted a letter to US Treasury Secretary Mnuchin and Administrator Carranza of the Small Business Administration, seeking affirmation of eligibility of non-bank lenders under the CARES Act. The letter seeks to further ensure that non-bank lenders are afforded all available protections under the Act as regulations are now established and implemented.
(Editor’s note: Subsequent to this letter, the SBA has issued its ‘Interim Final Rule’ that makes businesses identified in 13 CFR 120.110, which includes financial services companies, ineligible for the Paycheck Protection Program. SFNet will be seeking any recourse available to press the SBA to amend this position)
TSL Express Daily Headlines & News
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Sallyport Commercial Finance Announces $500,000 in Financing for an Oilfield Services Company
September 8, 2022The client contacted Sallyport directly as they were struggling with their receivables collections and needed to utilize its expertise in accounts receivable management while using the influx of working capital to cover their payroll expenses. Now that they have the support of a complementary financial partner, they will concentrate on expanding their US business.
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Middle Market Business Index Surges to 138.5 Despite Elevated Inflation
September 8, 2022Business conditions in the American real economy imply no recession in the third quarter as the middle market remains on a path for growth, even as the market grapples with elevated inflation.
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PlainsCapital’s Fort Worth Lending Group Welcomes Amy Petrilla
September 8, 2022PlainsCapital Bank is pleased to announce that Amy Petrilla has joined its Fort Worth Commercial Lending Group as Executive Vice President at the Fort Worth - Camp Bowie location. Amy has spent almost the entirety of her more than 33 years of Banking serving the Fort Worth market with an extensive background in credit and almost twenty years in Commercial and Commercial Real Estate lending.
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Monroe Capital Supports ASG II’s Acquisition of Hotel Effectiveness
September 8, 2022Monroe Capital LLC announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support ASG II’s acquisition of Hotel Effectiveness. ASG II is an existing portfolio company of Alpine Investors.
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CIT Provides $10 Million to Charleston-based Blue Sky Specialty Pharmacy
September 8, 2022CIT, a division of First Citizens Bank, today announced that its Asset-Based Lending business provided $10 million in financing to Blue Sky Specialty Pharmacy. Based in Charleston, South Carolina, Blue Sky Specialty Pharmacy uses technology to accelerate the prescription process for patients, physicians, payers and pharmaceutical manufacturers by meeting their unique needs and providing transparent access to necessary medications.
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Bank of the West Commercial Banking Group Leads Financing for Acquisition of A to Z Wineworks by Ste. Michelle Wine Estates
September 8, 2022Bank of the West, part of BNP Paribas Group, today announced that it led the financing for the acquisition of A to Z Wineworks by Ste. Michelle Wine Estates, owned by private equity firm Sycamore Partners. BNP Paribas acted as the exclusive financial advisor to A to Z Wineworks and worked closely with Bank of the West on the deal.
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FTI Consulting Launches Corporate Finance & Restructuring Segment in Japan with Appointment of Kenneth Smith
September 8, 2022FTI Consulting, Inc. (NYSE: FCN) today announced the launch of the firm’s Corporate Finance & Restructuring segment in Japan with the appointment of transactions expert Kenneth Smith as a Senior Managing Director in Tokyo. The addition of the Corporate Finance & Restructuring segment in Japan bolsters the firm’s existing capabilities in Strategic Communications and Technology.
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Truist Names Mike Maguire as Chief Financial Officer
September 8, 2022Maguire will continue to serve as a member of Truist's executive leadership team reporting to Chairman and Chief Executive Officer Bill Rogers and will oversee accounting, tax, treasury, financial planning and analysis, investor relations and other responsibilities from the bank's Charlotte, North Carolina, headquarters.
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Eastdil Secured and A&G Tapped to Market The Williamsburg Hotel
September 8, 2022Global real estate investment bank Eastdil Secured, L.L.C., and national advisory firm A&G Real Estate Partners have been engaged as exclusive advisors to market The Williamsburg Hotel, a 147-room luxury lifestyle hotel in the heart of Brooklyn’s thriving Williamsburg neighborhood.
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CIT Commercial Services, a subsidiary of First Citizens Bank, Welcomes Mike Earnhart as Senior Vice President and Regional Sales Manager
September 7, 2022CIT Commercial Services, a subsidiary of First Citizens Bank, has welcomed Mike Earnhart as senior vice president and regional sales manager, based in Los Angeles. Earnhart is responsible for leading a team of sales executives in overseeing and growing new business while introducing new products for commercial services in the Western region.
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GTCR Appoints Don McDonough to Lead Business Development for its Strategic Growth Fund
September 7, 2022GTCR, a leading private equity firm, announced today that Don McDonough has joined the firm as Managing Director, Business Development. In this role, he will lead business development efforts for the firm's Strategic Growth Fund and work with members of the GTCR investment teams to identify and develop investment opportunities for the fund.
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Eclipse Business Capital Provides $10mm Revolving Credit Facility
September 7, 2022Eclipse Business Capital LLC (“EBC”) announced today that it has provided a $10 million senior secured revolving credit facility in the automotive marketing industry. The credit facility is secured by accounts receivable and will be used to refinance an existing facility and to support ongoing working capital.
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Hilco Streambank Introduces Expanded Patents & Technology Services and Expertise
September 7, 2022Hilco Streambank recently hired a team of experts from West Four IP, led by Karl Maersch, who now heads the Patents & Technology team. Also joining Hilco Streambank from West Four IP is Terry O’Toole, who is now VP of Technology.
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Siena Lending Group LLC Announces The Closing Of A $50 Million Credit Facility For Inseego Corp.
September 7, 2022Siena Lending Group LLC ("Siena") announces the completion of a $50 million asset-based revolving line of credit for Inseego Corp. (Nasdaq: INSG). The facility was provided to ensure that the company is well-positioned to capitalize on expected growth in the 5G landscape as the technology continues to accelerate toward commercial mass-adoption.
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MUFG Expands Direct Lending Team
September 7, 2022Mitsubishi UFJ Financial Group (MUFG) announced today the expansion of its newly formed Direct Lending business with the hiring of Claude Mattessich and Will McCarthy. Both Mr. Mattessich and Mr. McCarthy have joined the bank as Managing Directors and Senior Originators.
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TRACON Pharmaceuticals Announces $35 Million Non-Dilutive Debt Financing with Runway Growth Capital
September 7, 2022TRACON Pharmaceuticals, Inc. (Nasdaq: TCON), a clinical stage biopharmaceutical company utilizing a cost-efficient, CRO-independent product development platform to advance its pipeline of novel targeted cancer therapeutics and to partner with other life science companies, today announced entry into a $35 million non-dilutive long-term debt facility with Runway Growth Capital LLC
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Western Alliance Bank Announces Executive Promotions, Newly Formed Executive Leadership Team
September 7, 2022Western Alliance Bank, one of the country's top-performing banking companies, today announced the promotions of several senior executives and the formation of a new Executive Leadership Team as part of the bank’s continuing commitment to align its management structure to support its industry-leading growth.
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Clayton, Dubilier & Rice Appoints David Winokur as Financial Services Partner
September 7, 2022Clayton, Dubilier & Rice announced the appointment of David Winokur, an experienced financial services investor, as a Partner at the firm. In his new role, Mr. Winokur will build the newly created financial services vertical and be engaged in sourcing and evaluating investments across the Insurance, Wealth & Retirement Services, Banking & Credit, and Fintech sectors.
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iCapital® and Ares Wealth Management Solutions Expand Partnership
September 7, 2022iCapital1, the leading global fintech platform driving access and efficiency in alternative investing for the asset and wealth management industries, and Ares Wealth Management Solutions (“AWMS”) announced today an expansion of their partnership to provide financial advisors and registered independent advisors with greater access to a broadened menu of alternative investment solutions and a comprehensive set of tools to support the development of client portfolios.
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Kawasaki Motors Finance Corporation Optimizes With Solifi’s Wholesale Finance Platform
September 7, 2022Solifi™, a global fintech software partner for secured finance, announced Kawasaki Motors Finance Corporation (KMFC) – the captive finance arm of Kawasaki Motors Corp. U.S.A., an established global distributor of powersports vehicles – migrated its entire U.S. operations to the Solifi Wholesale Finance software-as-a-service (SaaS) platform in December 2021.
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