- SouthStar Capital Provides $5 Million Accounts Receivable Financing Facility for a Growing Commercial Construction Company
- Gordon Brothers Invests in Rachel Zoe
- LA Times Studios Recognizes CohnReznick’s Rodriguez as Commercial Real Estate Visionary
- Brean Capital to Acquire Depository & Insurance Investment Banking, Equity Research, and Institutional Equity Sales Businesses from Janney Montgomery Scott
- Polestar Secures New Term Loan Facility of Up To USD 600 Million
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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UPDATE: New York Court of Appeals Grants SFNet Opportunity to Weigh In on Important Article 9 Case
Of particular interest to SFNet Factoring Community
On August 30, 2021, SFNet reported that it had filed papers with New York’s highest state appellate court seeking to appear as amicus curiae and to file a brief supporting a secured lender’s request for review of a problematic set of rulings that threaten to impose unique and unfounded burdens with respect to loans secured by a borrower’s accounts.
On January 11, 2022, the Court granted SFNet’s motion to appear as amicus curiae and accepted SFNet’s brief into the record in the case in connection with granting the lender’s motion for leave to appeal.
TSL Express Trending Story
TSL Express Daily Headlines & News
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Drip Capital Raises $175M to Build a Tech-Enabled Global Trade Facilitation Platform
October 28, 2021Drip Capital, Inc. (Drip Capital), a leading digital cross-border trade finance platform for small and medium businesses (SMBs), announces that it has raised $175 million in fresh capital to power its next phase of growth. Funds raised include a $40 million Series C investment and $135 million in warehouse debt facilities. To date, with this fundraise, Drip Capital has raised about $525 million in equity and debt funding.
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$8MM Service Company Deal Funded - Porter Capital & Attract Capital
October 28, 2021After the pandemic left a $40 Million Service Company with a cash flow issue due to later paying customers, New York-based investment banker, Attract Capital, LLC was engaged to find a solution. With a conventional loan facility not in the cards for the company, Attract Capital's founder, David Barnitt, advised the company to secure a receivables financing facility that would infuse a significant cash position on the balance sheet on day one.
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Gordon Brothers to Lead Ranger Energy Services’ Liquidation of Former Basic Energy Services Assets
October 28, 2021Gordon Brothers, the global advisory, restructuring and investment firm, will serve as Ranger Energy Services Inc.’s agent in the disposition of excess oil field services equipment and operating assets the company purchased through the Basic Energy Services Inc. bankruptcy process.
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Wells Fargo Provides Credit Facility to Medsphere for Their Health Platform Strategy
October 28, 2021Medsphere Systems Corporation, the leading provider of affordable and interoperable healthcare IT platform solutions, today announced that Wells Fargo has extended a $50 million credit facility that will enable Medsphere to continue its current growth trajectory. Medsphere is continuing to develop a comprehensive health platform that incorporates existing technology platforms and service lines while also exploring additional software tools and services that meet the needs of the company’s core customer base.
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Bridge Bank Increases YES Leasing's Credit Facility
October 27, 2021Bridge Bank today announced it has increased the credit facility provided last year to YES Leasing, a Miami-based commercial equipment leasing company specializing in funding business owners with challenged credit. The increased credit facility will provide additional capacity to support the continued growth of YES Leasing's portfolio.
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Kuber Secures $40 Million Credit Facility from Schedule I Bank
October 27, 2021Kuber Mortgage Investment Corporation ("Kuber" or the "Company") is pleased to announce that it has secured a $40 million revolving credit facility (the "Credit Facility") from a top 5 Canadian Schedule 1 bank (the "Bank"). The credit facility is for a term of 12 months.
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David Estrakh Promoted to EVP at Express Trade Capital
October 27, 2021Express Trade Capital is pleased to announce that effective immediately, David Estrakh has been promoted to EVP. Over the last few years, David has already taken on and performed the duties of EVP and his new title is intended to convey a role commensurate with those responsibilities.
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Paul Melchiorre Joins FGI’s Board of Directors
October 27, 2021FGI Worldwide LLC, a global leader in commercial finance, today announced that Paul Melchiorre has been appointed to the Board of Directors of its parent company, FGI Worldwide Holdings LLC. Mr. Melchiorre brings over 30 years of business solutions leadership experience to FGI, specifically within the SaaS environment.
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Amerisource Closes $2,000,000 Credit Facility for Manufacturing Firm
October 27, 2021Amerisource Business Capital announced the closing and funding of a $2,000,000 senior credit facility for an Illinois based manufacturer of nickel and cobalt alloy.
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Companies Often Overlook Planning for Post-Bankruptcy Success, New FTI Consulting Study Finds
October 27, 2021Companies have unique opportunities to shift their focus beyond capital structure fixes during bankruptcy and identify plans and strategies for building a stronger foundation for scalable, sustainable growth upon emerging from Chapter 11, according to a new study released today by FTI Consulting, Inc. (NYSE: FCN) The report, Emerge to Grow: Market Insights and Playbook for Achieving Profitability and Sustainable Growth Post-Bankruptcy, surveyed 50 business leaders from large companies with recent experience going through Chapter 11 to gain quantifiable insights about the bankruptcy process.
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AppLovin Announces Pricing of New $1.5 Billion Term Loan
October 27, 2021JPMorgan Chase Bank, N.A (JPM), BofA Securities, Inc. (BAS), KKR Capital Markets LLC (KCM), Citigroup, N.A. (Citi), Credit Suisse Loan Funding LLC (CS), Goldman Sachs Bank USA (GS), Morgan Stanley Senior Funding, Inc. (MSSF), and UBS Securities LLC (UBSS) acted as joint lead arrangers (collectively, including any of the foregoing in their capacity as Joint Lead Bookrunners, each as a “Lead Arranger”).
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Stonebriar Commercial Finance Extends Contract with Solifi
October 27, 2021Solifi, formerly IDS, a global fintech software partner for secured finance, announced that Stonebriar Commercial Finance (Stonebriar) has extended their relationship with Solifi as we provide our software-as-a-service (SaaS) technology platform to support their back-office portfolio management and growth goals. Stonebriar, the largest private independent equipment financing firm in the U.S., has been a client of Solifi since Stonebriar’s inception in 2015 and since 2004 with the management’s former company.
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Crestmark, the Commercial Finance Division of MetaBank®, Provides More Than $22.7 Million in Commercial Financing to 76 Businesses in the First Half of October
October 27, 2021Crestmark, the Commercial Finance Division of MetaBank®, N.A., secured a total of $11,700,000 in ABL/factoring financial solutions for 13 new clients; Crestmark Equipment Finance provided $6,086,672 in 23 new transactions; Crestmark Vendor Finance provided $4,050,096 in 39 new transactions; and the Government Guaranteed Lending group provided $910,000 in financing for one new client in the first half of October.
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Winston & Strawn Represents Alkuri Global Acquisition Corp.
October 27, 2021Winston & Strawn represented Alkuri Global Acquisition Corp. (NASDAQ: KURI, KURIU and KURIW) ("Alkuri"), a special purpose acquisition company, in connection with its business combination with Babylon Holdings Limited ("Babylon"), one of the world's fastest-growing digital healthcare companies.
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Hedgeweek Names CohnReznick Best Audit Firm in 2021 Americas Awards
October 27, 2021CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that, for the second year in a row, Hedgeweek has recognized CohnReznick as Best Audit Firm in its 2021 Americas Awards program. Hedgeweek is a major global publication covering hedge fund industry news for investors and fund managers.
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BizCap Secures $8 Million in Debt Financing to Support AlterG’s Growth
October 26, 2021BizCap® (Business Capital since 2002), a national commercial finance and advisory firm, today announced it has successfully structured and secured $8 million in growth financing for its repeat client, AlterG, the creator of the Anti-Gravity Treadmill. This financing will be used to pay-off existing debt with the remaining proceeds available to accelerate growth initiatives and working capital purposes, including new product development and expansion into new markets, as well as broadened adoption in rehabilitation and elite athletics.
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Rosenthal Closes $2.75 Million Asset Based Lending Deal With Midwest-Based Coatings Provider
October 26, 2021Rosenthal & Rosenthal, Inc., a leading factoring, asset-based lending and purchase order financing firm in the U.S., today announced the completion of a recent $2 million revolving credit facility and $750,000 term loan to support the working capital needs of an Ohio-based finishing and coatings company serving the automotive, appliance and electrical industries.
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RH Announces Completion of $2 Billion Debt Financing
October 26, 2021RH (NYSE: RH) today announced the completion of a $2 billion debt financing (the “Term Loan”) by means of a Term Loan Credit Agreement through its subsidiary, Restoration Hardware, Inc. (“RHI”), as the borrower, Bank of America, N.A. as administrative agent and collateral agent, and the various lenders party thereto (the “Term Loan Credit Agreement”). The Term Loan has a maturity date of October 20, 2028 and a floating interest rate based on 2.5% spread over LIBOR subject to a 0.50% LIBOR floor.
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Gerber Finance Supports Fair Harbor’s Exponential Growth with $7MM Line of Credit
October 26, 2021Gerber Finance, an eCapital company and the leading finance partner for companies experiencing accelerated growth, today announced the closing of a $7MM line of credit to Fair Harbor, maker of sustainable swimwear, clothing, and accessories. The deal was completed under its Naturally Gerber division, which works with companies within the fast-growing natural products space, from clean label, organic and non-GMO products, to sustainable design and packaging.
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Hudson Avenue Partners Advises United Safety, a Dubin Clark Portfolio Company, on its Acquisition of Fireboy-Xintex
October 26, 2021Hudson Avenue Partners is pleased to announce that United Safety & Survivability Corporation, a Dubin Clark portfolio investment, has raised financing to support its acquisition of Fireboy-Xintex from W.S. Darley & Company. Hudson Avenue Partners acted as exclusive financial advisor to Dubin Clark and United Safety in arranging financing to support the acquisition and future growth capital needs of the company.
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