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Hilco Global announced today that long time Bank of America executive Betsy Ratto will join the Hilco Global team as Senior Vice President of Capital Solutions with responsibility to drive business for ReStore Capital and Hilco Corporate Finance.
In this new role, Ms. Ratto will be responsible for originating and executing corporate finance and capital markets transactions, with focus on the retail industry and other financing transactions. Ms. Ratto will be based in Hilco’s Boston office and will work on identifying and originating lending/investment opportunities through Hilco Global’s and her own existing network of professional contacts and relationships, including investment banks, private equity firms and hedge funds.
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Mountainside LLC Announces its Newly Formed Real Estate Lending Division and Closes Its First Deal
September 13, 2021Mountainside LLC is pleased to announce their first deal, a $1.5 million bridge loan to a well-known real estate developer in Houston, TX. Mountainside recently formed a real estate bridge loan division that will provide short-term financing for commercial and residential properties. Loan durations will be between six months to three years and will be in the $250,000 to $2 million range.
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Stonebriar Commercial Finance Closes a $64.5 Million Construction-to-Permanent Real Estate Financing
September 13, 2021Stonebriar Commercial Finance (“Stonebriar” or “the Company”) today announced the closing of a $64.5 million construction-to-permanent real estate financing with a premier real estate developer. This 85% loan-to-cost mortgage will finance the development of a triple-net, build-to-suit property for a tenant that the developer has successfully partnered with on prior projects.
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Maynards Industries’ Michael R. Ostrom Earns ARM Accredited Professional Designation
September 13, 2021Maynards Industries - Valuation Division is pleased to announce Michael R. Ostrom, ASA, CEA, ARM-MTS has earned the accredited professional designation of Appraisal Review & Management (ARM) within the Machinery & Technical Specialties discipline of the American Society of Appraisers.
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Gateway Trade Funding Provides a Purchase Order Facility to a Company Looking to Diversify into PPE
September 13, 2021Gateway Trade Funding, a PO and Trade Financing company, is happy to announce that we recently funded a $300,000 purchase order facility for PPE that was referred by a hedge fund. A hedge fund had a fish and tackle company client that needed additional financing. The company wanted to diversify and had created a new division to sell PPE. They secured orders from Canadian universities and hospitals but needed additional funding to fulfill the orders. The hedge fund turned to Gateway Trade Funding to see if their PO financing could help.
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MidFirst Business Credit Announces New Lending Relationship with Bison Metal Technologies, LLC.
September 13, 2021MidFirst Business Credit (MFBC) announced it has provided a $10 million working capital and term loan facility to Bison Metal Technologies, LLC. (“Bison”). Located in Shawnee, OK, Bison is a manufacturer of seamless copper commercial tube in a broad range of lengths and diameter sizes, including wound coils and straight lengths for air conditioning, refrigeration and heating applications.
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RF Capital Announces Revolving Credit Facility of up to $200 Million to Pursue Aggressive Growth Strategy
September 13, 2021RF Capital Group Inc. (the Company) (TSX: RCG) announced today it has secured a $200 million revolving credit facility (the Facility) with a syndicate of lenders (the Lenders). The initial authorized principal of the Facility is $125 million. The Facility also includes an accordion provision that will enable the Company to request increases in the total commitment, under the same terms, by an aggregate amount of up to $75 million, subject to the Lenders' approval.
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J D Factors Announces Factoring Facilities
September 13, 2021J D Factors announced it provided the following factoring facilities: $75,000 to a manufacturing company in Quebec; $75,000 to a transportation company in Georgia; $250,000 to a transportation company in Nevada and $75,000 to a transportation company in Alberta. $400,000 to a transportation company in Ontario.
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White Oak Commercial Finance Provides $17 Million ABL Facility to Desserts Manufacturer
September 13, 2021White Oak Commercial Finance, LLC (“White Oak”), an affiliate of White Oak Global Advisors, LLC, announced it provided a $17 million ABL credit facility to one of the nation’s largest manufacturers of baked desserts. The transaction was structured against the company’s working capital and fixed assets and the proceeds will be used to refinance existing debt, recapitalize the business, and provide working capital to support its continued growth.
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C. John Mostofi Joins Hilco Global Holding Company Management Team as Executive Vice President – Capital Solutions
September 13, 2021Hilco Global, the privately held diversified financial services company, announced today that it has hired the long time Bank of America senior executive C. John Mostofi as Executive Vice President – Capital Solutions. The announcement comes at a time of rapid growth at the global financial services firm based in Northbrook, Illinois.
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Think Research Corporation Announces New Debt Facility with ScotiaBank
September 13, 2021Think Research Corporation (TSXV: THNK) ("Think" or the "Company"), a company focused on transforming healthcare through digital health software solutions, today announced that it has entered into a new credit agreement (the "Credit Agreement") with BNS that will replace its existing credit arrangements with National Bank of Canada. The new Credit Agreement includes a $22 million revolving credit facility, a $6 million revolving acquisition facility, and a $10 million uncommitted accordion that can be allocated to either facility at the Company's discretion.
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Wingspire Capital Provides $200 Million Senior Secured Credit Facility To Maurices
September 13, 2021Wingspire Capital LLC (“Wingspire”) announced today that it has agented a $200 million senior secured credit facility to Maurices Incorporated (“Maurices”), a U.S.-based women’s clothing retail chain with 898 stores in the U.S., Canada and at www.maurices.com. The credit facility consists of a $100 million revolving line of credit and a $100 million term loan.
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SBA Lifts COVID EIDL cap from $500,000 to $2 Million
September 13, 2021SBA Administrator Isabella Casillas Guzman announced major enhancements to the COVID Economic Injury Disaster Loan (EIDL) program, including increasing the cap to $2 million.
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TradeCap Partners Closes $3mm Supply Chain Finance Facility for Colorado Lighting Distributor
September 13, 2021TradeCap Partners recently closed a $3mm supply chain finance facility for lighting distributor based in Colorado. Supply chain disruptions over the last eighteen months had placed strain on the Company’s relationship with suppliers. Facing increased production lead times and in some cases non-performance, the Company made the decision to seek new manufacturing partners to expand its supplier base and diversify risk.
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First Eagle Alternative Credit Appoints Edward Giordano as Chief Financial Officer
September 13, 2021First Eagle Alternative Credit, LLC (“FEAC” or “the firm”), a leading alternative credit manager, today announced the appointment of Edward Giordano as Chief Financial Officer overseeing FEAC’s finance, accounting and operations functions. He succeeds Terry Olson, who retired on June 30, 2021.
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Cambridge Savings Bank Appoints Michael Bonsey as Chief Credit Officer
September 13, 2021Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, is pleased to announce Michael Bonsey has joined the bank as Chief Credit Officer. Bonsey’s charge is to maintain the standing of the bank’s credit portfolio, continue the development of its credit policies and procedures and uphold the quality of its lending portfolio.
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Bank of America Announces Senior Leadership Changes
September 13, 2021The company is adding five new members, including three women, to the senior management team, further strengthening diversity at the most senior levels of the company. When all of the changes are complete, Bank of America’s senior management team will include individuals with an average of 21 years of service in the company and 31 years in the financial services industry, with increased global and international expertise; and more diversity of gender and race than ever before in the company’s history.
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Citizens Advises Aviacode on its Acquisition by GeBBS
September 13, 2021Citizens M&A Advisory announced today that it served as the exclusive financial advisor to Aviacode, a leading provider of outsourced medical coding services, to GeBBS, a ChrysCapital-backed technology enabled revenue cycle management (“RCM”) and risk adjustment solutions provider.
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Amerisource Closes $3,000,000 Credit Facility for Construction Trucking Firm
September 13, 2021Amerisource Business Capital announced the closing and funding of a $3,000,000 senior credit facility for a North Carolina based industrial construction and trucking firm. The proceeds were to support the company’s ongoing growth.
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Gemini Finance Corp. Provides $12.0 Million Purchase Order Financing Facility to a Healthy Snack Company
September 13, 2021Gemini Finance Corp. is pleased to announce that it has provided a $12.0 million purchase order financing facility to a healthy snack company. The California company needed approximately $5 million for its regular purchase orders and an additional $7 million for a national roll-out of its products by a multi-national retailer. The client required capital for raw materials, packaging, shipping, and co-packing expenses.
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Enterprise Group Announces New $30 Million Credit Facility with Waygar Capital and Ninepoint Partners
September 9, 2021Enterprise Group, Inc. (TSX: E) (the "Company" or "Enterprise"), a consolidator of services to the energy sector that is focused primarily on specialized equipment rental, is pleased to announce that is has entered into a senior secured credit facility (the "Facility") with Waygar Capital Inc., as agent for Ninepoint Canadian Senior Debt Master Fund L.P.
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