- nFusion Capital Promotes Melanie Guzman, CAEF, to Executive Vice President of Factoring
- Brett Long joins CohnReznick as Assurance Partner
- Hercules Capital Enters Next Phase of Growth with Expanded Leadership Team
- Sound Point Capital Leads $575 Million Financing to Support Greenbelt Capital Partners’ Acquisition of Peak Utility Services Group
- Finance Veteran Amity Mercado Launches Countify Capital to Bridge Liquidity Gaps for Underserved Businesses
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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SellersFunding Launches Two Financing Solutions to Further Advance Growth for Small Businesses
SellersFunding, a leading fintech provider for ecommerce sellers, announces the addition of two new products to its robust lineup of working capital products, Invoice Factoring and Purchase Order (PO) Financing.
Invoice Factoring and PO Financing support SellersFunding clients to help grow their wholesale footprint. The flexibility of the products will allow SellersFunding to expand their offering to businesses outside of the ecommerce space.
TSL Express Trending Story
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Lending to Manufacturers and Sellers Operating as Licensees (not Owners) of Famous Marks
SFNet President John DePledge, Head of ABL at Leumi Business Credit, and Riemer & Braunstein finance partner, Lon Singer, address the special business and legal considerations involved in lending to a company that operates as a licensee of a famous brand.
TSL Express Daily Headlines & News
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Amrita Patel to Lead Wells Fargo Equipment Finance
August 3, 2022Bill Mayer to retire after 34 years in the financial industry. Wells Fargo & Company (NYSE: WFC) announced Amrita Patel will lead Wells Fargo Equipment Finance (WFEF), which offers specialized financing for purchase, acquisition or leasing of assets pertaining to equipment, transportation and rental fleets, as well as comprehensive vendor and dealer programs. Patel will report to Mary Katherine DuBose, head of the bank’s secured lending and leasing businesses within Wells Fargo Commercial Banking.
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CareTrust REIT Provides Secured Loan on California Skilled Nursing Facilities
August 3, 2022CareTrust REIT, Inc. (NYSE:CTRE) announced today that it has extended a $22,250,000 "B" piece secured loan in connection with the acquisition of a 5-asset skilled nursing portfolio in California. The portfolio includes approximately 600 skilled nursing beds.
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Wesbank Appoints New CEO of Asset Based Finance
August 3, 2022FNB and WesBank have combined their asset based finance capabilities and are pleased to announce the appointment of Khantse Radebe as chief executive officer of this business.
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NewLake Capital Partners Expands Revolving Credit Facility To $90M
August 3, 2022NewLake Capital Partners, Inc. NLCP, a provider of real estate capital to state-licensed cannabis operators, has added two lenders to its existing five-year revolving credit facility and upsized the aggregate commitment under the facility from $30 million to $90 million. The credit facility matures in May 2027 and has a fixed interest rate of 5.65% for the first three years and a floating rate thereafter. The credit facility allows for further expansion as additional lenders are added, or the commitments of existing lenders are increased.
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Alterna Capital Solutions Welcomes Greg L’Herault to Meet Demand in Mountain Region
August 3, 2022Alterna Capital Solutions (Alterna), a specialty and alternative financing lender to small businesses experiencing growth, announced today the addition of Greg L’Herault as SVP, Sales and Originations to meet demand in the Mountain and Desert region, including the states of Arizona, Colorado, Idaho, Nebraska, and Utah. Based in Colorado, L’Herault is responsible for business development across the region working with referral partners in commercial banking, private equity, investment banking, accounting, financial consulting, turnaround management, and legal counsel.
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Ares Commercial Finance Provides $15 Million Senior Secured Credit Facility to PS Energy Group, Inc.
August 2, 2022August 2, 2022 – Ares Commercial Finance announced today that it has provided a $15 million senior secured credit facility to PS Energy Group, Inc. PS Energy is a privately-owned, certified diverse and women-owned enterprise that provides transportation fuels, emergency fueling and fleet management technology and services to utilities, government and enterprise clients. The credit facility consists of an asset based revolving line of credit. Proceeds of the credit facility will be used to refinance existing indebtedness and for ongoing working capital.
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Cambridge Savings Bank Extends Financing Package to Support the Next Evolution of Growth for Fulfillment America
August 2, 2022Cambridge, MA, —August 3rd, 2022— Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, today announced that its Corporate Banking team provided new client, Fulfillment America, Inc, with a $6.5 million financing package to support its next phase of growth. Headquartered in Billerica, Mass., Fulfillment America is a national six sigma fulfillment organization that provides B2C and B2B fulfillment services, including warehousing, printing, kit assembly, logistics, and more.
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Quotient Industrial Capital (www.FundingTeam.us) Provides a $1.5 Million Receivables Credit Facility in the Construction Arena
August 2, 2022Quotient Industrial Capital (QIC) has provided a $1.5 million accounts receivable credit facility to a construction company specializing in floor and wall preparation for a chain of health and fitness centers. This QIC facility is enhancing the client's cash flow, enabling them to keep up with their customer's expansion plans for aggressive club openings. The QIC client will use the funding proceeds of the facility to support their continued growth across its core business, mostly focusing on enhancing their supply chain as well as aggressive hiring.
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TradeCap Partners Secures $600,000 Purchase Order Facility for Seasonal Christmas Goods Importer
August 2, 2022TradeCap Partners recently established a $600,000 Purchase Order Finance Facility for a Texas based seasonal Christmas goods importer. Continuous year over year growth combined with increased production and shipping lead times over the past 24 months had lengthened the company’s cash conversion cycle. In an effort to make sure products arrived well ahead of schedule for the holiday season, the company made the decision to bring forward production and shipping dates. While prudent, it required additional financing. Having spoken with TradeCap the prior season following an introduction from their banker, the company reconnected and outlined their seasonal needs.
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CIT Serves as Sole Lead Arranger of Financing for Swell Energy’s Commercial Behind-The-Meter Energy Storage Projects
August 2, 2022NEW YORK — Aug. 2, 2022 — CIT, a division of First Citizens Bank, today announced that its Power and Energy business served as sole lead arranger of financing for the development of Swell Energy’s pipeline of new behind-the-meter commercial energy storage projects in California. The borrower, a subsidiary of Swell Energy Inc., is developing over 100 behind-the-meter energy storage projects on commercial properties across California.
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Announcing Hilco Digital Assets
August 2, 2022Hilco is excited about our new company, Hilco Digital Assets (HDA). We formed HDA with Andrew Miller, who has expertise and long experience with digital assets, including premium domain names, Web 3 assets and NFT's. HDA recently invested in the Bored Ape Yacht Club and is immersed in Web 3. Our foundational belief is that every brand and company must strategically implement an NFT strategy. Our team is positioned to help you in all aspects of this process.
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Runway Growth Capital LLC Adds Venture Lending Industry Veteran to Technology Team
August 2, 2022Runway Growth Capital LLC ("Runway" or the "Company"), a leading provider of growth loans to both venture and non-venture backed companies seeking an alternative to raising equity, announced today that it has hired Brad Pritchard as Managing Director, Technology.
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Bear Creek Mining Enters into Loan Facility with Auramet International LLC
August 1, 2022Bear Creek Mining Corporation (TSXV: BCM) (OTCQX: BCEKF) (BVL: BCM) ("Bear Creek" or the "Company") is pleased to announce that it has entered into a promissory note (the "Note") with Auramet International LLC ("Auramet") in connection with a one-year USD $5.0 million loan facility (the "Facility").
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Performant Capital Creates Platform Delivering Managed Technology Services and Revenue Cycle Management to the Healthcare Industry
August 1, 2022Performant Capital announced today that it has formed Provider Technology, LLC (“Provider Technology”) through the acquisitions of DavLong Business Solutions LLC and its affiliate Administrative Advantage LLC (collectively, “DBS”) and On Demand Solutions Inc. (“ODS”).
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PNC Announces Retirement of Treasurer Randall King, Names David Kahn Successor
August 1, 2022The PNC Financial Services Group, Inc. (NYSE: PNC) announced today that its treasurer and longtime finance leader, Randall King, will retire from the company, effective Sept. 1. During his 39-year career with PNC, King has played key roles in helping manage PNC’s liquidity and capital strategies through periods of growth and transformation, including serving as treasurer through the acquisition of BBVA USA.
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Axonic Holds First Close on Inaugural Private Credit Offering
August 1, 2022Axonic Capital, New York-based structured credit, commercial real estate and systematic fixed income specialist with $4.8 billion in assets under management, announced the first closing of its inaugural Private Credit Offering in the middle of July. The strategy will hold subsequent closings throughout the remainder of the year.
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FinTech Leader DigniFi Announces Bridge Funding to Support Continued Growth
August 1, 2022This initial recapitalization empowers DigniFi to execute its three-year growth strategy centered on operational stability, product development and commercialization, and expansion into transportation-adjacent markets and ecosystems.
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CIT Provides Acquisition Financing for Apartment Complex in Florida
August 1, 2022CIT, a division of First Citizens Bank, today announced that its Real Estate Finance business provided a loan to TruAmerica Multifamily for the acquisition of The Park at Napoli Apartments in Winter Park, Florida. The Park at Napoli is a multifamily apartment complex comprising 238 units across 15 two-story buildings.
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H.I.G. Capital Completes Acquisition of Barton & Associates
August 1, 2022H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $50 billion of equity capital under management, is pleased to announce that one of its affiliates has completed the acquisition of Barton & Associates Inc. (“Barton” or the “Company”), a leading healthcare staffing company focused on locum tenens with additional capabilities in travel nursing, allied healthcare, and government-related physician staffing markets.
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Touchstone Bank Names Marketing Director
August 1, 2022Touchstone Bankshares, Inc. (the "Company") (OTC Pink: TSBA) and its wholly owned subsidiary Touchstone Bank (the "Bank"), today announced the appointment of Michelle H. Simon as Senior Vice President and Marketing Director at the Bank. Simon will be responsible for leading key priorities such as designing and implementing marketing strategies, directing sales initiatives, and improving brand awareness. Simon began her new role with Touchstone Bank in mid-July 2022.
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