- First Bancorp Announces Acquisition of First Carolina Bancshares Corporation to Expand its South Carolina Presence
- MidCap Business Credit LLC Completes a $27 Million Asset-Based Credit Facility for a Family-Owned Commercial Bakery
- Frank Marsicano Strengthens CIBC’s ABL Team in NYC Metro
- SixCap Healthcare Finance Appoints Dan Carroll as Senior Relationship Manager
- Malibu Boats Refinances Credit Facility on the Strength of Its Balance Sheet, Extending Maturity to 2031
TSL Express Daily Articles & News
To submit company news and press releases toTSL Express, email tslexpress@sfnet.com.
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Atlantic Union Bank Continues to Expand Its Commercial Product Line with Asset-Based Lending
Atlantic Union Bank is expanding its asset-based lending team to help working capital intensive companies meet their financing needs. The team will now operate as a new specialty finance division, branded Atlantic Union Business Credit, and offer a full range of asset-based lending solutions specializing in loan commitments from $5 million to $30 million.
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Where Will You Be Lending in Post Pandemic Healthcare Markets?
During the Secured Finance Network’s webinar on the healthcare finance sector, streamed May 15, Allen Wilen of EisnerAmper, described a future scenario affected by human longevity, geographic location and how COVID-19 affected you. New trends relevant to finance executives are accelerating out of necessity because of the sudden impact of the coronavirus pandemic and the weaknesses it illuminated.
TSL Express Daily Headlines & News
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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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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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Leading Food Processing Equipment Provider Added to Sweet Leaf Madison Capital's Preferred Vendor Program
December 8, 2022Sweet Leaf Madison Capital (SLMC), a nationwide provider of tailored debt financing solutions for the middle-market compliant cannabis industry, has just added Baker Perkins to its Preferred Vendor Program. Baker Perkins is a leading food processing equipment supplier providing technology integral to food manufacturers across the bakery, confectionery, food extrusion, breakfast cereal, pet food and biscuit, cookie, and cracker sectors.
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Curve Defies the Market and Secures $1 Billion Deal from Credit Suisse
December 8, 2022Curve, the fast-growing financial super app, today announced that the company has closed a deal to fund its first $1 billion in loans with a facility provided by Credit Suisse, enabling Curve to scale its lending business, Curve Flex, across the UK, the EU and the United States.
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J D Factors Announces Factoring Facilities
December 7, 2022J D Factors announced it has provided the following factoring facilities: $75,000 to an electrical distribution company in Quebec; $300,000 to a transportation company in New York; $250,000 to a transportation company in Ohio; $250,000 to a transportation company in Ontario; $250,000 to a transportation company in Nebraska.
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Cambridge Savings Bank Supports the Redevelopment and Expansion of the Innes Apartments as Lead Bank in $93 Million Construction Loan
December 7, 2022Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and $6 billion in assets, today announced it is the lead bank in a $93 million construction loan to support the Innes Redevelopment Project, with the development of two new multi-purpose buildings in Chelsea, MA. The project is being led by co-developers John M. Corcoran & Company and Joseph J. Corcoran Company, in partnership with real estate private equity firm Marcus Partners.
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