- Market Sizing Study
- First Business Bank's Asset-Based Lending Team Funds $5.1 Million Credit Facility To Support Manufacturer Acquisition
- Mattr Announces Closing of Credit Facility Extension
- Flatbay Capital Structures $2MM Owner-Occupied CRE Bridge Loan for Houston-Area Construction Contractor
- Alignment Credit Provides Senior Secured Term Loan Commitment to GOAT Foods
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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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Cadence Business Finance Agents $73.5 Million Revolving Credit Facility for NuBridge Commercial Lending
August 30, 2021NuBridge Commercial Lending, a national commercial real estate bridge lender, entered a $73.5 million 36-month revolving credit facility with a syndicate of banks, with Cadence Business Finance serving as agent. The bank group also includes Sunflower Bank, Congressional Bank and Dominion Bank.
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Santander Holdings USA, Inc. Names Ashwani Aggarwal as Chief Risk Officer
August 30, 2021Santander Holdings USA (“SHUSA” and “Santander”) today announced that Ashwani Aggarwal has been named Chief Risk Officer, effective today, August 24, 2021. Aggarwal will report to Santander US CEO Tim Wennes. Ashwani joined Santander in 2019, and most recently served as Head of Risk Analytics & Chief Model Risk Officer.
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Nick Disimile Joins B. Riley Advisory Services as Director, Business Development for Southwest Region
August 30, 2021B. Riley Financial (NASDAQ: RILY) (“B. Riley”), a diversified provider of business advisory and financial services, today announced that Nick Disimile has joined B. Riley Advisory Services as Director of Business Development supporting the Southwest region.
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Ballard Spahr Represents Visible Supply Chain Management in $838 Million Acquisition
August 30, 2021Ballard Spahr represented Visible Supply Chain Management in its acquisition by integrated container logistics company A.P Moller-Maersk, the world’s largest container shipping and vessel operator.
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Southwire Enters into Sustainability-Linked Asset Based Loan Facility to Bolster Growth Strategy and Accelerate Greenhouse gas Emission Reduction
August 30, 2021Supporting the company’s growth strategy and strengthening its commitment to be a leader in sustainability, Southwire has completed collaborations with its bank lenders to integrate a sustainability-linked pricing mechanism into the renewal of its five-year, $1 billion Asset Based Loan (ABL).
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RSM US Middle Market Business Index Reaches All-Time High
August 30, 2021The RSM US Middle Market Business Index (MMBI), presented by RSM US LLP ("RSM") in partnership with the U.S. Chamber of Commerce, increased from 133.6 in the second quarter to 145.5 in the third quarter of 2021. The data revealed that business conditions point to continued robust economic growth, rising revenues and net earnings during the third quarter and going forward over the next six months despite pricing pressures. This is the best reading for the index since its inception in 2015.
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MONTICELLOAM, LLC Provides $58.13 Million in Financing for a 607 Bed Skilled Nursing Facility Portfolio in Florida
August 30, 2021MONTICELLOAM, LLC and its affiliates (“Monticello”), a specialized private healthcare and asset-based lender, asset manager and servicer, announced it has provided $58.13 million in first lien debt financing for the refinance of five skilled nursing facilities consisting of 607 beds in Florida.
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Bank of America Announces Retirement of Anne Finucane, Vice Chairman and Thomas Montag, Chief Operating Officer and president of Global Banking and Markets
August 30, 2021Bank of America today announced the retirement of Anne Finucane, Vice Chairman, and Thomas Montag, Chief Operating Officer and president of Global Banking and Markets, after many years of distinguished service. Both executives are members of the company’s executive management team and report to Chairman and Chief Executive Officer Brian Moynihan. Finucane and Montag will remain in their roles until the end of 2021.
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Sallyport Commercial Finance Provides $250,000 Invoice Factoring Facility for Fledgling Contracting Business
August 30, 2021Funding the dreams of ordinary people in becoming successful business owners is part of the Sallyport heritage and there's little more rewarding. Sallyport is delighted to be able to provide a $250,000 invoice factoring facility which lays the foundation for a skillful employee to realize his dreams of business ownership.
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J D Factors Announces Factoring Facilities
August 30, 2021J D Factors announced it provided the following factoring facilities: $100,000 to a transportation company in Alberta; $500,000 to a transportation company in Illinois; $100,000 to a transportation company in Alabama; $75,000 to a transportation company in New Brunswick...
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Crestmark, the Commercial Finance Division of MetaBank®, Provides More Than $102.5 Million in Commercial Financing to 55 Businesses in the First Half of August
August 30, 2021Crestmark, the Commercial Finance Division of MetaBank®, N.A., secured a total of $46,900,000 in ABL/factoring financial solutions for 16 new clients; Crestmark Equipment Finance provided $2,588,364 in four new transactions; Crestmark Vendor Finance provided $3,198,849 in 31 new transactions; the Government Guaranteed Lending group provided $35,816,000 in financing for three new clients; and the Joint Ventures group provided $14,050,000 in one new transaction in the first half of August.
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Monroe Capital Supports Monomoy Capital Partners’ Acquisition of Liberty Safe Holding Corporation
August 26, 2021Monroe Capital LLC (“Monroe”) today announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the acquisition of Liberty Safe Holding Corporation (“Liberty Safe”) by private equity sponsor Monomoy Capital Partners.
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Hilco Corporate Finance Announces Hiring of Evan Blum as Managing Director
August 26, 2021Hilco Corporate Finance (HCF) announced today that Evan Blum has joined the organization as Managing Director. In this role, Mr. Blum will leverage his deep understanding of special situation corporate finance (distressed M&A advisory, private financings, and financial restructuring) to grow the HCF investment banking business.
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Prestige Capital Uses the Power of Relationships to Provide $500,000 to Kansas City Healthcare Services Company
August 26, 2021Prestige Capital secured $500,000 for a Kansas City healthcare services company. The company needed working capital but knew that a bank wasn’t the best solution for this type of deal.
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SG Credit Provides $2.75 Million to Procurement SaaS Company
August 26, 2021SG Credit Profile: SaaS. The Company: Provider of procurement and spend management software to mid-market businesses.
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AFC Gamma Provides DMA Holdings With $19.75 Million Senior Secured Credit Facility
August 25, 2021AFC Gamma, Inc. (NASDAQ:AFCG) (“AFC”) today announced it has provided a credit facility of $19.75 million to DMA Holdings MA, LLC (“DMA”), a single-state Massachusetts operator. The credit facility is designed to provide DMA with the capital necessary to purchase and expand its Tier 6 cultivation license, as well as complete the buildout of its processing facility and dispensary in Dudley, Massachusetts.
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Capital One Leads $600 Million Revolver for Addus HomeCare
August 25, 2021Capital One announced today it served as lead arranger and administrative agent for a $600 million revolving line of credit for Addus HomeCare.
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Fifth Third Business Capital provides $16 Million in refinancing to support Orly International, Inc.
August 25, 2021Founded in 1975 by Mr. Jeff Pink, Orly International, Inc. is a manufacturer of branded professional nail salon and personal care products sold via nail salons, DTC and mass merchants throughout the world.
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Jon Patty Joins White Oak as Managing Director and Partner
August 25, 2021White Oak Global Advisors ("White Oak") is pleased to welcome Jon Patty as a Managing Director and a Partner based in the San Francisco office. Mr. Patty will lead White Oak’s ESG and impact investing business including developing new investment opportunities, working closely with partners and borrowers, and creating new sustainable investment strategies.
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Flexible Funding Announces the Opening of Their Fort Worth Office
August 25, 2021Today Flexible Funding, LLC, a leader in the factoring and asset-based lending industry, announced the move of its headquarters from San Francisco to Fort Worth, TX. Flexible Funding's Forth Worth office is located in the up-and-coming area of Clearfork, at 5600 Clearfork Main St, only 5 miles from downtown.
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