- Alpine Ridge Funding Closes $2 Million Working Capital Facility for a Made in the USA Fire Protection Equipment Manufacturer
- TSL Feature Articles
- Empire Asset Finance, LLC Secures Senior Warehouse Credit Facility with Bank OZK to Expand Equipment Financing Platform
- Crown Partners Arranges $130 Million Senior Financing for Global Automotive Manufacturer
- Safely Store Receives $160M Credit Facility
TSL Express Daily Articles & News
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Randy Lederman Joins CIT Northbridge Credit
CIT, a division of First Citizens Bank, has named Randy Lederman as a managing director for business development activities across the Northeast for CIT Northbridge Credit LLC, a joint venture advised by CIT Asset Management LLC.
Based in New York, Lederman will be responsible for sourcing new asset-based loan opportunities from $15 million to $150 million with business borrowers across a range of credit profiles. His appointment represents CIT Northbridge’s continued dedication to serving client and referral sources in the northeast.
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Transformational Change and Crisis Costs Weigh Heavily on Both Sides in Stressed and Distressed Retail/Supplier Relationships
Ben Nortman and Ian Fredericks of ReStore Capital examine the financial burden that consumer mandated transformation and the current crisis are imposing on both retailers and their suppliers, and how innovative financial solutions can be leveraged by both to help ensure successful outcomes in stressed and distressed environments.
TSL Express Daily Headlines & News
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Approved Oil Co. Enters Updated Credit Facility
November 7, 2022The bank syndicate supporting the credit facility is comprised of four participants acting in various capacities, with JPMorgan Chase Bank, N.A. as Administrative Agent, Manufacturers and Traders Trust Company, Bank United, N.A., and Atlantic Union Bank.
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Solifi ABL Passes $1B in Loans Outstanding on SaaS Platform
November 7, 2022Solifi™, a global fintech software partner for secured finance, announced its Solifi Asset-Based Lending (ABL) software-as-a-service (SaaS) solution on its open finance platform now supports more than $1B in loans outstanding for lenders globally. Additionally, Solifi’s ABL borrower portal user traffic increased by 4x in less than a year as lenders and borrowers recognize the benefits of Solifi’s easy-to-use, self-service tool that’s available 24/7.
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Cerebro Capital Facilitates $60MM in Financings
November 7, 2022Cerebro Capital, a technology-enabled debt sourcing marketplace for companies in the middle market, recently facilitated the closing of $60MM in debt financings to several companies including $15 million asset-based line of credit for a supplier of sustainably sourced, high quality wood pellets to support their significant growth and $14.5 million USDA loan to an owner operator of a large portfolio of gas stations and convenience stores .
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GenSight Biologics Secures a €35 Million Credit Facility From the European Investment Bank to Support the Launch of LUMEVOQ® in Europe
November 4, 2022GenSight Biologics (Euronext: SIGHT, ISIN: FR0013183985, PEA-PME eligible) (the "Company"), a biopharma company focused on developing and commercializing innovative gene therapies for retinal neurodegenerative diseases and central nervous system disorders, today announced that it has entered into a €35 million credit facility agreement with the European Investment Bank (“EIB”), supported by the European Fund for Strategic Investment (EFSI).
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Kura Oncology Announces Financing Transactions with Bristol Myers Squibb and Hercules Capital, Providing Access to up to $150 Million
November 4, 2022Kura Oncology, Inc. (Nasdaq: KURA), a clinical-stage biopharmaceutical company committed to realizing the promise of precision medicines for the treatment of cancer, today announced a $25 million equity investment from Bristol Myers Squibb (NYSE: BMY) and a term loan facility with access to up to $125 million from Hercules Capital, Inc. (NYSE: HTGC).
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Experienced SBA Business Development Officer Joins First Internet Bank
November 4, 2022First Internet Bank announced today that Ben Rosensweet has joined the organization as Vice President, Senior Business Development Officer. The newest member of the Small Business Administration (SBA) team brings a wealth of experience in finance and new business development, as well as equipment and commercial finance.
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Monroe Capital Closes $502.5 Million Collateralized Loan Obligation XIV
November 4, 2022Monroe Capital LLC (“Monroe”) today announced the closing of a $502.5 million term debt securitization known as Monroe Capital MML CLO XIV, LTD. The term financing was Monroe's second new CLO completed in 2022 and is secured by a portfolio of middle market senior secured loans.
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Lindsay & Brownell Combines with EisnerAmper
November 4, 2022Global business advisory firm EisnerAmper announced that the partners and colleagues of La Jolla, California-based accounting and advisory firm Lindsay & Brownell CPAs & Advisors ("LB Advisors") are to join EisnerAmper in a transaction expected to close in December of 2022.
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CIBC Innovation Banking Announces Growth Capital Facility for SupportLogic
November 4, 2022CIBC Innovation Banking is pleased to announce a growth capital facility for San Jose-based SupportLogic, Inc. (“SupportLogic”), a support experience (SX) platform designed to proactively improve customer experience and revenue retention.
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Tradecycle Capital Delivers a New Accounts Payable Finance Facility for a Furniture Wholesaler
November 4, 2022Tradecycle Capital, an Indianapolis-based trade finance provider, announced it funded a new $4,000,000 revolving accounts payable funding facility for a private equity-owned wholesaler and distributor of home furnishings. Tradecycle was introduced to the company by a trusted advisor to assist with foreign sourcing of product.
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J D Factors Announces Factoring Facilities
November 4, 2022J D Factors announced it has provided the following factoring facilities: $300,000 to a staffing company in Quebec; $750,000 to a transportation company in California; $100,000 to a transportation company in Alberta; $500,000 to a transportation company in Illinois...
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Castlelake Closes Second Income Opportunities Fund with $782 Million
November 3, 2022Castlelake, L.P. ("Castlelake"), a global alternative investment manager with 17 years of experience investing in asset-rich opportunities, today announced that it completed the final closing of Castlelake Income Opportunities II, L.P. ("CIO II" or the "Fund"), with approximately $782 million in capital commitments. CIO II, an asset-based private credit product, is the successor to Castlelake's 2018 vintage fund, which raised $456 million and closed in 2020.
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Moritt Hock & Hamroff Ranked In 2023 Edition Of U.S. News & World Report –Best Lawyers® Best Law Firms
November 3, 2022Moritt Hock & Hamroff has received national recognition in the 2023 "Best Law Firms," rankings by U.S. News & World Report and Best Lawyers®. The firm has been ranked as a Tier 1 in the 2023 U.S. News & World Report - Best Lawyers® "Best Law Firms" list nationally in 1 practice area and regionally in 4 practice areas.
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nFusion Capital Provides $2.5 Million Factoring Line of Credit to Educational Staffing Company
November 3, 2022Based in New York, this client provides educational staffing services to disabled and special needs children throughout the public school district. They are a fast-growing startup, providing individual services to over 300 students in more than 25 schools with special needs every year.
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CIT Leads Construction Financing for Major New Texas Solar Project
November 3, 2022CIT, a division of First Citizens Bank, today announced that its Power and Energy business served as coordinating lead arranger of construction financing for a major new solar energy project in Texas. Avantus (formerly 8minute) is the developer of the147-megawatt (MWdc) solar power facility now under construction in Concho County, Texas. The project, known as Galloway 2, is adjacent to the successful Galloway 1 solar project, which was built in 2020 with CIT-led construction financing.
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National Funding Hires Rob Rosenblatt as President of New Digital Lending Division
November 3, 2022National Funding is pleased to announce the hiring of Rob Rosenblatt as President of Business Loan Center LLC, National Funding’s new digital lending division. As a leader in providing financing for small- to mid-sized businesses (SMBs), National Funding is making a significant commitment to developing new digital and mobile-focused lending solutions for the segment.
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Star Mountain Capital Adds T. J. Della Pietra, Former Global Head of Citi Holdings, as a Senior Advisor
November 3, 2022Star Mountain Capital, a rapidly growing, employee-owned specialized private investment firm focused on the lower middle-market with over $3 billion of AUM, announced that T. J. Della Pietra, former Global Head of Citi Holdings, a division of $2+ trillion global commercial and investment bank Citigroup, has joined as a Senior Advisor.
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Briar Capital Real Estate Fund Announces Closing of $7.9MM Commercial Real Estate Loan
November 3, 2022Briar Capital Real Estate Fund is pleased to announce the closing of a $7.9MM commercial real estate loan to a precast concrete products company located in Florida who had been dealing with supply chain issues and material shortages as a result of COVID.
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InterNex Provides $1.2 Million Credit Facility to Advertising Agency
November 3, 2022InterNex Capital provided a $1.2 million revolving line of credit to a six-year-old marketing agency based in New York. The company sought greater flexibility and availability of working capital from a lending partner with knowledge of their industry.
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SFNet Submits Comment Letter to the NY State Department of Financial Services in Response to Latest Disclosure Regulations
November 3, 2022SFNet has submitted a comment letter addressing the latest round of proposed regulations. SFNet’s Advocacy Committee has been working with DFS on scope of the disclosure law and the proposed regulation since early 2021 and has previously provided detailed comments and suggested revisions to the initial draft regulations.
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