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Andy McGhee is vice chairman of White Oak Commercial Finance (White Oak), an affiliate of White Oak Global Advisors, LLC, and leads the firm’s lender finance business. He has over 30 years of experience in the lending business, most recently managing a multi-billion-dollar loan portfolio as the CEO of AloStar Capital Finance. In 2011, McGhee co-founded AloStar Capital Finance by acquiring a failed bank in Birmingham, AL.
At the time of its sale in 2017, AloStar had committed more than $3 billion to middle-market companies. McGhee has also served in various leadership roles covering asset-based lending (ABL) at SunTrust, Citicorp, Bank South and Bank of America. McGhee sits on the board of directors for Piedmont Hospital in Atlanta and is an Elder at Peachtree Presbyterian Church. He holds a B.A. in economics from the University of Georgia.
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Leading Industry Veterans and Innovators in Alternative Credit Investing Announce the Launch of Sycamore Tree Capital Partners
November 23, 2020Mark Okada, Jack Yang and Trey Parker, industry veterans and innovators in alternative credit investing, today announced the launch of Sycamore Tree Capital Partners (Sycamore Tree) – an asset manager specializing in private and alternative credit. Mark Okada will serve as Chief Executive Officer, Jack Yang will serve as President and Head of Business Development, and Trey Parker will serve as Chief Investment Officer. John Muse and Ken Hersh are strategic investors in the firm’s initial fund launches and will also serve on the management company advisory board to help shape long-term strategy.
Teresa C. Kohl, Managing Director of SSG Capital Advisors, to be Inducted as a Fellow in the American College of Bankruptcy
November 23, 2020SSG Capital Advisors is pleased to announce that Teresa C. Kohl will be inducted as a Fellow in the 32nd Class of the American College of Bankruptcy. Kohl is one of 37 new Fellows, insolvency professionals who are being honored and recognized for their professional excellence and their exceptional contributions to the bankruptcy and insolvency practice. The Induction Ceremony will be held on Friday, March 19, 2021, in Washington, D.C.
Houlihan Lokey Adds Experienced Tax Advisor to Its Financial and Valuation Advisory Business
November 23, 2020Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, today announced that Tom Goldrick has joined the firm’s Transaction Advisory Services practice as a Managing Director and Head of M&A Tax Services. He is based in Chicago.
Canadian Mall Owners Could Buy Key Tenants in the Months Ahead, Says Tiger Group Executive
November 23, 2020Landlords need to keep the doors open at important stores—and avoid triggering escape clauses in other retailers’ leases, advises Bradley W. Snyder in webinar from Insolvency Insider.
Rosenthal’s West Coast Office Closes $6 Million Asset-Based Loan Facility for California-based Pawn Business
November 23, 2020Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending and purchase order financing firm in the U.S., today announced the completion of a $6 million asset based lending deal for a family-owned pawn business and jewelry, metal and accessories retailer.
Gibraltar Provides Quick Path to $5.5MM Working Capital Financing
November 23, 2020Timeliness was vital for Spokane Industries, an international manufacturer with a nearly 60-year history. As a second-generation, family-owned and operated company, Spokane Industries sought a financing partner that understood their distinct growth needs, could move fast, and offer greater liquidity.
J D Factors Announces Factoring Facilities
November 23, 2020J D Factors announced it provided the following factoring facilities: $150,000 to a transportation company in Illinois; $250,000 to a transportation company in Alberta; $400,000 to a transportation company in Illinois; $200,000 to a transportation company in Texas...
Mnuchin Letter to Powell on Facilities
November 19, 2020In the attached letter to the Federal Reserve, Treasury Secretary Steven Mnuchin declined to extend programs established under the CARES Act, including the Main Street Lending Program. Mnuchin also asks Chairman Jerome Powell for the return $455 billion in unused funds to the Treasury. The programs are set to expire on December 31, 2020.
FTS International Completes Financial Restructuring, Enters Into a new $40 Million Asset-based Revolving Credit Facility with Wells Fargo Bank, N.A.
November 19, 2020FTS International, Inc. (NYSE American: FTSI) (“FTSI” or the “Company”) today announced that it has successfully completed its fully consensual financial restructuring and has emerged from Chapter 11. Upon emergence, FTSI expects to have approximately $90 million cash on hand and has entered into a new $40 million asset-based revolving credit facility with Wells Fargo Bank, N.A., as administrative agent and lender, to support working capital needs.
Liberty Commercial Finance Announces New Senior Lending Facility with Texas Capital Bank
November 19, 2020Liberty Commercial Finance, a leading independent equipment lease and finance company, announced today that it has closed a new senior lending facility with Texas Capital Bank to further expand its direct funding capabilities. This new facility comes shortly after Copley Equity Partners’ previously announced equity investment in Liberty. The size of the facility was not disclosed.
Oakworth Capital Bank Adds Glenn Shorey to Middle Tennessee Team
November 19, 2020Oakworth Capital Bank recently added Glenn Shorey as Managing Director, Commercial Banking for the Middle Tennessee market. "Glenn's extensive commercial banking experience and client focused approach is perfectly in line with Oakworth's strategy to serve the Middle Tennessee market with quality associates who are dedicated to our clients." said Greer Redden, Market Leader.
Encina Business Credit Provides $80 Million Revolving Credit Facility to Provider of Business Process Services
November 19, 2020Encina Business Credit, LLC announced today that it has provided an $80 million senior secured revolving credit facility to a leading global provider of Business Process Services. The senior secured revolving line of credit, which is collateralized by accounts receivable, was used to finance ongoing working capital financing.
Tech Capital, LLC Provides $10 Million Asset-Based Line of Credit to Taronis Fuels, Inc.
November 19, 2020Tech Capital, LLC, the asset-based finance company and wholly owned subsidiary of Tech CU, announced today it has provided a $10 million asset-based revolving line of credit to Taronis Fuels, Inc., a publicly traded company based in Peoria, Arizona and a global producer of renewable and socially responsible fuels. The loan will support Taronis Fuels’ expansion and development. The loan represents Tech Capital’s continued focus on providing innovative, customer-centered solutions to growing companies across the United States and is one of Tech Capital’s largest loans to date.
Middle Market Stays Confident About Recovery Ahead
November 19, 2020U.S. middle market business sentiment remained rock solid in October. The proprietary RSM US Middle Market Business Index eased modestly to 127.5 from 127.8 in September. For the most part, readings on the economy, revenues, net earnings and hiring remained essentially unchanged as the economy continued to emerge from the early-year recession. While it is clear that business leaders do not expect a V-shaped recovery, they do see an improvement in business conditions through the early part of 2021.
Loeb Leverages Over $12M in Equipment to Finance 7 Seven New Clients' Businesses Run the Gamut from Mining to Gear Manufacturing, Transportation to an Ethnic Food Company
November 19, 2020These winning solutions are all covenant-free for businesses in the following industries: $5M to a gear manufacturer; $4M to a construction company in Canada; $1M line of credit to a mining operation; $1M to a chemical packager; $500,000 transportation firm in the Midwest; $500,000 to an ethnic food Co and $500,000 to a foundry in Canada
SFNet Requests Feedback on CFPB 1071
November 19, 2020
Crestmark Provides More Than $23.1 Million in Commercial Financing to 11 Businesses in the First Half of November
November 18, 2020Crestmark secured a total of $6,050,000 in ABL financial solutions for five new clients; Crestmark Equipment Finance provided $4,371,057 in three new lease transactions; the Government Guaranteed Lending group provided $12,722,000 in financing for three new clients in the first half of November.
Republic Provides a $3.75m Line of Credit Facility for a Plastics Manufacturing Company
November 18, 2020Republic Business Credit provided a $3,750,000 ledgered line of credit facility secured by accounts receivables and inventory that injected significant acquisition and growth working capital into its war chest. Republic was introduced to the opportunity from an investment bank that was advising the company on a strategic basis to raise debt and potentially equity in the future.
EPSG Extends and Expands Revolving Credit Facility with People’s United Bank
November 18, 2020EPSG, a leading integrator of payment technology solutions, announced today that it has extended and significantly expanded its existing revolving credit facility (“The Credit Facility”) with People’s United Bank (“People’s United”), N.A., a subsidiary of People’s United Financial, Inc. (NASDAQ: PBCT).
Cerebro Capital: New Survey Examines $1 Trillion Non-Bank Commercial Lending Market
November 18, 2020Cerebro Capital, a commercial loan platform, today released its new quarterly survey on non-bank lending for middle-market commercial and industrial (C&I) loans. The results illustrate the perspectives of private credit lenders, also known as alternative lenders, or non-bank lending institutions.
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The Secured Lender
The SFNet 76th Annual Convention Issue