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eCapital Strengthens Alternative Finance Footprint with Portfolio Purchase of UMB Bank’s Accounts Receivable Financing Division
eCapital Corp. ("eCapital" or "the Company"), a leading alternative finance provider for small and medium-sized businesses across North America and the United Kingdom, today announced the acquisition of UMB Bank’s Accounts Receivable Financing division portfolio.
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Evolus Enters Into $125 Million Credit Facility with Pharmakon Advisors
December 15, 2021Evolus, Inc. (NASDAQ: EOLS), a performance beauty company with a customer-centric approach focused on delivering breakthrough products, today announced that it has entered into a $125 million term loan financing facility with funds managed by Pharmakon Advisors, L.P.
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Winston & Strawn Represents LAACO, Ltd.
December 15, 2021Winston & Strawn represented LAACO, Ltd. (LAACO), the owner of the Storage West brand of 59 self-storage facilities, in its sale to CubeSmart (NYSE: CUBE) for approximately $1.69 billion, which includes approximately $40.9 million of LAACO debt that will be repaid at, or shortly after, the closing. Storage West is the owner and operator of 59 self-storage assets in the highly desired western markets of Southern California (22), Phoenix (17), Las Vegas (13), and Houston (7).
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White Oak Commercial Finance Provides $15 Million Factoring Facility to Automotive Aftermarket Parts Supplier
December 15, 2021White Oak Commercial Finance, LLC (“White Oak”), an affiliate of White Oak Global Advisors, LLC, announced it provided a $15 million factoring facility to a supplier of parts for the automotive aftermarket. The transaction was structured against the company’s accounts receivable, and the proceeds will be used to support its rapid growth and working capital.
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CREtelligent Secures $10 Million Credit Facility From Espresso Capital
December 15, 2021Espresso Capital announced today that it has provided CREtelligent, a one-stop commercial real estate (CRE) due diligence platform, with a $10 million credit facility. The company will use the capital to extend its runway and make strategic investments in its ongoing growth.
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CIT Provides $6.3 Million Financing to Diamond Communications LLC
December 15, 2021CIT Group Inc. (NYSE: CIT) today announced that its Middle Market Banking business provided $6.3 million to refinance corporate office properties for Diamond Communications LLC.
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Public Finance Attorney Shaney B. Lokken Joins Hunton Andrews Kurth in Continued Expansion of Firm’s Atlanta Presence
December 15, 2021Shaney B. Lokken, a public finance attorney with two decades of experience representing issuers, borrowers, underwriters and purchasers in a wide range of transactions, has joined Hunton Andrews Kurth LLP as a counsel in Atlanta.
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Glass House Brands Secures US$100 Million Senior Secured Term Loan
December 15, 2021Glass House Brands Inc., one of the fastest-growing, vertically-integrated cannabis companies in the U.S., today announced that it has entered into a senior secured term loan agreement with a U.S.-based private credit investment fund for up to US$100 million with an initial draw of US$50 million.
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J.P. Morgan Global Alternatives Builds Out Private Credit Team, Doubles Commercial Mortgage Loan Assets
December 15, 2021J.P. Morgan Global Alternatives today announced the appointment of Raphael Gonzalez as a Managing Director and Senior Investment Specialist across commercial mortgage loans, infrastructure debt and direct lending.
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Umpqua Bank 2022 Outlook Report: Strong M&A Activity to Continue as Businesses Capture Innovation, Bolster Pricing Power
December 15, 2021Umpqua Bank today released its 2022 economic outlook report for small and middle market companies, "Headwinds & Opportunities: Economic Trends & Predictions for Businesses in 2022." The bank tapped prominent West Coast economists and Umpqua Bank thought leaders to examine key issues that will shape the 2022 economic landscape, their impact on decision-making, and what businesses can do to meet both challenges and opportunities with confidence.
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Magnolia Financial Hires Larry Artman as Senior Vice President and Expands Into Atlanta with a Regional Sales Office
December 14, 2021Magnolia Financial has announced the opening of a regional sales office in Atlanta, GA to expand its presence in the southeast. The Spartanburg-based company also announced that industry veteran Larry Artman has returned to Magnolia to head its new office. With over 30 years’ experience in Commercial Finance, Artman will serve as Senior Vice President and lead Magnolia’s Originations and Business Development efforts throughout Georgia, Alabama, and Tennessee.
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eCapital Provides $15MM Asset Based Lending Credit Facility to Dallas-Based Frozen Foods Manufacturer
December 14, 2021eCapital Commercial Finance’s (“eCapital”) Asset Based Lending division today announced the issuance of a $15,000,000 asset based lending credit facility to a Dallas-based frozen foods manufacturer.
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Gateway Trade Funding Partners with a Factoring Company to Provide a $750,000 Purchase Order Facility to a Consumer Goods Company
December 14, 2021A relatively new consumer goods company focusing on personal mobility products was working with a factoring company. They received a large order from a big-box retailer with challenging terms. Due to recent supply chain delays, the customer refused to issue a firm purchase order until the goods arrived in the US. Their factoring company recommended working with Gateway Trade Funding to find a way to accept the order.
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Fifth Third Business Capital Provides $9.8 Million Senior Credit Facility to Promise to Perform Industries
December 14, 2021Fifth Third Business Capital announced it provided $9.8 million senior credit facility to Promise to Perform Industries, Inc. to support management buyout in October 2021.
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Mitsubishi HC Capital America Welcomes John Nocita as Underwriter for Syndicated Credit and ABL
December 14, 2021Mitsubishi HC Capital America, a leading specialty finance company, is pleased to announce that John Nocita has joined the company as Underwriter for Syndicated Credit and ABL transactions.
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Concord Serves as Exclusive Financial Advisor and Arranges $8MM in Senior Debt for Henry F. Teichmann, Inc.
December 14, 2021Concord Financial Services announced it served as an exclusive financial advisor an arranged $8 million in senior debt within 45 days for Henry F. Teichmann, Inc., based in Canonsburg, PA. The financing arranged was an $8 million senior secured revolving line of credit to refinance existing debt and provide additional working capital.
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MidCap Business Credit Announces Asset-Based Credit Facility
December 14, 2021MidCap Business Credit announced today they have closed on a $9,000,000 asset-based credit facility for a Titan Production Equipment, LLC, headquartered in The Woodlands, TX. Titan Production Equipment designs, engineers, and manufactures surface production equipment, focused on filtration and dehydration units, serving the oil and gas industry.
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Ocean Bank Finances HGreg Nissan Dealership
December 14, 2021Ocean Bank announced that it provided financing of $26.7 million to HGreg Nissan Kendall, LLC, a subsidiary of HGreg USA Holdings, Inc.
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Winston & Strawn Represents Aries I Acquisition Corporation
December 14, 2021Winston & Strawn is representing Aries I Acquisition Corporation (Nasdaq: RAM) (“Aries”), a special purpose acquisition company, in connection with its business combination with Infinite Assets, Inc. (“InfiniteWorld”), a leading Metaverse infrastructure platform that enables brands to create, monetize and drive consumer engagement with digital content, that upon consummation is expected to result in InfiniteWorld becoming a publicly traded company with a pro forma equity value of approximately $700 million, assuming no redemptions by Aries’s public shareholders.
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Gridiron-Backed Colibri Group Announces Strategic Acquisition of TeachNow, Inc.
December 14, 2021Gridiron Capital, LLC (“Gridiron Capital”), an investment firm focused on partnering with founders, entrepreneurs, and management teams, is pleased to announce that its portfolio company, Colibri Group (“Colibri”), a professional education company with leading brands that provide learning solutions to licensed professionals, has acquired TeachNow, Inc., one of the nation’s largest technology-centric teacher certification institutions, providing professionals the opportunity to transition into teaching.
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UrgentMED Secures Growth Investment from Quilvest Capital
December 14, 2021Anaheim Urgent Care, LLC and affiliates (“UrgentMED” or the “Company”), a leading independent operator of urgent care clinics in Southern California, has received a substantial growth investment from Quilvest Capital Partners (“Quilvest”). Quilvest is partnering with UrgentMED’s co-founders, Dr. Jacob Rastegar, Dr. Morris Kokhab, and Dr. Pejman Bolourian, who will each remain significant shareholders and will continue to lead the business going forward. FocalPoint Partners (“FocalPoint”) served as exclusive financial advisor to the Company.
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