- Spirit Airlines Gets $100 Million Lifeline Amid Restructuring
- nFusion Capital Provides $3M Factoring Facility for Commercial Maintenance Company
- Westwood Financial Expands Corporate Credit Facility By $145 Million To $470 Million Total
- Seth Friedman of Abacus Finance Group Appointed to SBIA Board of Governors as Northeast Regional Chair
- TSL Feature Articles
TSL Express Daily Articles & News
To submit company news and press releases toTSL Express, email tslexpress@sfnet.com.
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SFNet Mourns the Passing of Past Chairman Ronald C. Smith
The staff and volunteer leaders of the Secured Finance Network are saddened to hear of Ron’s passing. We express our sincerest condolences to his family.
Ronald established a national reputation as a leader in the commercial finance industry. He was active in the National Commercial Finance Association, where he served for several years on its board, and as the organization’s President and Chairman.
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TSL Express Daily Headlines & News
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BHI Announces Designated S&P Rating
September 1, 2021BHI, a full-service commercial bank, announced that it has received its own assigned S&P credit rating. BHI USA has been rated A/A-1 with a stable outlook, similar to the credit rating for Bank Hapoalim in Israel, one of the world’s largest financial institutions with $170 billion in assets.
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DLL Adds two Industry Experts to Their US Recreational Products Lineup
September 1, 2021DLL, global asset finance company for equipment and technology has appointed of two key members to the U.S. Commercial Finance sales team: Mike Mekus and Marjorie Roy. Both leaders will bring valuable tenure and experience to DLL’s expansion in the recreation product and leisure lifestyle market.
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Winston & Strawn Represents Empire Portfolio Group
September 1, 2021Winston & Strawn represented Empire Portfolio Group ("Empire"), a leading Area Developer and Franchisee of Orangetheory® Fitness, the heart-rate based interval training fitness franchise, in its acquisition of ten Orangetheory studios and the area development rights in Charlotte, including parts of North Carolina and South Carolina.
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Prestige Capital Supports the Growth of the largest Private Label, Baby Food Manufacturer in the United States with $2,500,000 in Funding
September 1, 2021A California-based private label organic baby food manufacturing and co-packer needed a working capital line to increase volume in order to add additional product lines to their offering. They previously secured a credit facility based on real estate and machinery from their bank but a prospective AR lender that they were hoping to receive funding from backed out at the 11th hour.
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Freeport Financial Expands Lower Middle Market Debt Team with New Appointment
September 1, 2021Freeport Financial Partners, LLC (“Freeport”), a U.S. lower middle market direct lending manager, today announced the appointment of Stephanie Hartnett as Assistant Vice President, responsible for sourcing, structuring, and managing debt investments for the Freeport loan funds. Ms. Hartnett is based in Chicago.
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VetCare Secures $175 Million Credit Facility Arranged by Northleaf
September 1, 2021VetCare Canada Inc. (“VetCare”) announced today that it has raised up to $175 million through a senior secured credit facility arranged by Northleaf Capital Partners (“Northleaf”). Northleaf acted as the sole lead arranger. This debt financing will support VetCare’s continued expansion across Canada to complement its existing network of practices in Alberta, British Columbia, Manitoba, Ontario and Quebec and to further strengthen its corporate and operational capabilities that support the Company’s practices and medical teams.
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Peduzzi to Become President & Chief Operating Officer of CNB Bank
September 1, 2021Mr. Peduzzi has over 34 years’ experience in banking and financial services, having most recently served as Senior Executive Vice President & Chief Financial Officer of a Pennsylvania community bank. During his five-year tenure, the bank grew from less than $1 billion in assets to over $3 billion, with 36 office locations throughout Pennsylvania. During this time, he has also served on the Board of Directors of the Pennsylvania Association of Community Bankers.
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Sequential Brands Group Commences Voluntary Chapter 11 Proceedings
August 31, 2021Sequential Brands Group, Inc. (“Sequential” or the “Company”) (NASDAQ:SQBG) today announced that it, together with its wholly-owned subsidiaries, has commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware (the “Court”). Gibson, Dunn & Crutcher LLP and Pachulski Stang Ziehl & Jones LLP are serving as Sequential’s legal counsel. Stifel and its affiliate Miller Buckfire & Co. are serving as Sequential’s investment banker.
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SilverCrest Completes Second Tranche Drawdown of its Credit Facility for US$30 million
August 31, 2021SilverCrest Metals Inc. ("SilverCrest" or the "Company") is pleased to announce that the Company's Canadian subsidiary has completed the second scheduled drawdown of US$30 million on its previously announced US$120 million Project Financing Facility ("Credit Facility") with an affiliate of RK Mine Finance (see news release dated January 4, 2021).
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Ongoing Pandemic Brings an Unprecedented Drop in Health Care Filings for Q2
August 31, 2021The economic impact of the global pandemic has yet to be seen in the health care industry, at least not in bankruptcy filings, as seen in the newest Polsinelli-TrBK Distress Indices Report. For the first time in more than 13 quarters, the Health Care Services Distress Research Index dipped below 100 points – an unprecedented drop in Chapter 11 filings for the commonly distressed industry.
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Sabina Gold & Silver Announces Completion of US$20 million Debt Facility for the Proposed Goose Mine at the Back River Gold District
August 31, 2021Sabina Gold & Silver Corp (SBB.T/SGSVF.OTCQX), (“Sabina” or the “Company”) is pleased to announce an initial debt agreement for project financing for its Goose Mine on its 100%-owned Back River Gold Project (“Back River” or the “Project”) in Nunavut, Canada
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Premier Health Secures C$27M Senior Secured Credit Facilities by RBC
August 31, 2021Premier Health of America Inc. (TSXV: PHA) (the “Corporation” or “Premier Health”), a leading Canadian Healthtech company, announces it has negotiated the provision of two senior secured credit facilities by Royal Bank of Canada (“RBC”) for a total amount of up to C$27,00,000 (each a “Credit Facility”).
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MamaMancini’s Secures Expanded $10.5 Million Credit Facility from M&T Bank for Acquisition Financing
August 31, 2021MamaMancini's Holdings, Inc. (NASDAQ: MMMB), a marketer of specialty pre-prepared, frozen and refrigerated food products, today announced that it has secured an expanded credit facility with M&T bank in the amount of $10.5 million for the purpose of acquisition financing at an interest rate of 3.5% above one-day LIBOR.
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Old Point National Bank Grows Richmond Commercial Team
August 31, 2021Old Point National Bank (Old Point) has expanded its Richmond, Virginia team with the addition of three new Commercial Relationship Managers. Robert Campbell has been appointed Senior Vice President and Senior Relationship Manager with Old Point's Richmond Commercial Lending Team. Katherine Wagner has been appointed Senior Vice President and Senior Relationship Manager with Old Point's Richmond Commercial Lending Team. Ian Splisgardt has been appointed Assistant Vice President and Relationship Manager with Old Point's Richmond Commercial Lending Team.
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Focus Lenders Services Group, LLC Adds Three new Field Examiners
August 31, 2021Focus Lenders Services Group, LLC® has added three new field examiners to its already robust team in the US and Canada. These new examiners are based in California, New York and Toronto. All these seasoned professionals have a minimum of over ten years’ experience in asset-based lending and factoring field examinations.
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Celtic Capital Corporation Announces New Client Relationship
August 31, 2021Celtic Capital Corporation today announced its most recent new client relationship – a Washington-based distributor of solar equipment and hardware. With no current bank financing, this Company was looking for a loan facility to offset current cash constraints that were hampering its growth potential. One of our valued bank referral partners suggested that Company management speak with us as the Company’s financials didn’t meet the bank’s lending criteria.
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Citizens Advises Invisors on its Recapitalization by WestView Capital Partners
August 31, 2021Citizens M&A Advisory announced today that it served as the exclusive financial advisor to Invisors, a leading Workday consulting firm based in Atlanta, GA, on its recapitalization by WestView Capital Partners, a Boston-based private equity firm focused on middle-market growth companies. WestView’s investment represents the first institutional capital raised by the company and will help fuel its continued rapid growth in the Workday ecosystem.
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Assembled Brands Announces an Increased Facility to $2.5MM with its Partners at RAEN Optics, LLC
August 31, 2021Assembled Brands is celebrating its increased facility with RAEN Optics, LLC, an eyewear brand that specializes in handcrafted, ultra-light and UV protection eyeglasses and sunglasses.
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Iron Horse Credit Provides a $4 Million Inventory Line of Credit to a Leading Manufacturer and Developer of Copper Alloys and Beryllium Castings
August 31, 2021Iron Horse Credit (“IHC”), a leading stand-alone inventory lender, is pleased to announce the closing of a $4,000,000 stand-alone inventory revolving line of credit to a leading manufacturer and developer of advanced alloys for the global market with a focus on specialty copper alloys and high-performance beryllium aluminum castings.
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Rosenthal Provides $500,000 Production Finance Facility for Massachusetts-Based Housewares Company
August 31, 2021Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending and purchase order financing firm in the U.S., today announced the completion of a recent $500,000 purchase order finance facility to support the production financing requirements of a Massachusetts-based importer and distributor of environmental sustainable housewares.
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