- Republic Business Credit Supports Growth of Emerging Footwear Manufacturer with a $750,000 Factoring Facility
- SouthStar Capital Funds $250,000 Accounts Receivable Facility for Growing Telecommunications Company
- Eagle Point Closes $30 Million Financing with Circular Services
- i80 Group and Brim Partner to Offer Funding-as-a-Service With $300 Million Credit Facility
- J.S. Held Welcomes Asset-backed Securities Pioneer James H. Aronoff
TSL Express Daily Articles & News
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Rosenthal Announces Executive Leadership Changes
Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending and purchase order financing firm in the U.S., today announced a series of executive leadership changes as part of the firm’s focus on long-term strategic growth and exceptional client service. Family-owned and independent for 83 years, Rosenthal is promoting several individuals from various divisions throughout the company who will assume new roles and responsibilities, effective January 1, 2022.
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White Oak Healthcare Finance Closes $25 Million Financing For Aspen Skilled Healthcare
May 10, 2021White Oak Healthcare Finance, LLC (“White Oak”), today announced that it acted as sole lender and administrative agent on the funding of a $25 million asset-based senior credit facility for Aspen Skilled Healthcare, Inc. (“Aspen”). The funds will primarily be used to finance ongoing working capital. Aspen’s independent affiliates operate skilled nursing facilities (“SNF”) primarily located in the Los Angeles and San Francisco metro areas.
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AFC Gamma Provides Justice Cannabis Co. With $22 Million Senior Secured Credit Facility to Fund its New Jersey Expansion
May 10, 2021AFC Gamma, Inc. (NASDAQ:AFCG) (“AFC”) today announced it has provided a credit facility of $22 million to Justice Cannabis Co., a Chicago-based multi-state operator with licenses in eight states. The credit facility is designed to provide Justice Cannabis Co. with the capital necessary to purchase and complete the build out of its 72,000 square foot cultivation and processing facility, along with the buildout of a dispensary, both in Ewing, New Jersey.
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CIT Serves as Sole Lead Arranger on $22 Million Financing for Container Ships
May 10, 2021CIT Group Inc. (NYSE: CIT) today announced that its Maritime Finance business served as sole lead arranger on a $22 million financing for a portfolio of five container ships. The financing was arranged on behalf of Madison Marine Corp., which is partially refinancing debt on five 4,000-TEU container ships. All five vessels are covered by existing charter agreements with a leading container liner company.
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CIBC Innovation Banking Provides Financing Solutions to Maverix Private Equity
May 10, 2021CIBC Innovation Banking is pleased to announce it has provided financing solutions, including a Capital Call Line of Credit, to Maverix Private Equity (“Maverix”). The capital call facility provides Maverix with the flexibility to make investments in portfolio companies prior to calling capital from the fund’s limited partners.
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Crown Capital Announces New Corporate Credit Facility
May 10, 2021Crown Capital Partners Inc. ("Crown" or the "Corporation") (TSX: CRWN), a capital partner to entrepreneurs and growth businesses, today announced that it has entered into a new senior secured corporate credit facility ("Credit Facility") of up to $41.5 million with ATB Financial ("ATB"). This facility replaces Crown's previous $35.0 million credit facility, which had a maturity date of May 31, 2021. Crown will use the Credit Facility to fund investments, potential acquisitions and share repurchases and for general corporate purposes.
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Eyenovia Announces New $25 Million Credit Facility with Silicon Valley Bank
May 10, 2021Eyenovia, Inc. (NASDAQ: EYEN), a clinical stage ophthalmic biopharmaceutical company developing a pipeline of microdose array print (MAP™) therapeutics, today announced that the company has entered into a new $25 million credit financing facility with Silicon Valley Bank (SVB).
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Small Business Hiring Trends Gain Momentum in April
May 10, 2021The CBIZ Small Business Employment Index (“SBEI”) reported a seasonally adjusted gain of 3.57% for April. The remarkable gain in the reading highlights the quickened pace of hiring efforts as small businesses engage in increased economic activity. The CBIZ SBEI tracks payroll and hiring trends for over 3,500 companies that have 300 or fewer employees, providing broad insight into small business trends.
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Medical Staffing Company in Kentucky Chooses TAB Bank for a $500,000 Revolving Credit Facility
May 10, 2021A medical staffing company in Kentucky has chosen TAB Bank for a $500 thousand revolving credit facility. The new facility is extended through a multi-year agreement and will provide the means to fund growth for the company. The company provides staffing services for all nursing specialties, advanced practice, physicians, therapy, and more.
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LSQ Delivers $11MM Credit Facility for TX-Based Manufacturer
May 10, 2021LSQ, a leading provider of technology-driven working capital solutions, announced the origination of an $11 million credit facility for an award-winning manufacturing company located in the Lone Star State. The manufacturer is scaling and requires a reliable source of working capital via accounts receivable and inventory financing to fulfill contracts with Fortune 500 retailers.
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Xeris Pharmaceuticals Announces Extension of the Interest-Only Period of Its Debt Facility With Oxford Finance and Silicon Valley Bank
May 10, 2021Xeris Pharmaceuticals, Inc. (Nasdaq: XERS), a specialty pharmaceutical company leveraging its novel formulation technology platforms to develop and commercialize ready-to-use injectable and infusible drug formulations, today announced that it has entered into an amendment to its existing loan and security agreement with Oxford Finance LLC (Oxford) and Silicon Valley Bank (SVB).
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Boundary Street Final $330+ Million Fund Close
May 10, 2021Boundary Street Capital ("Boundary Street"), a private credit investment manager focused exclusively on the digital infrastructure, enterprise software and technology services sectors, announces the final close of BSCP SBIC I, LP (the "Fund"), securing more than $330 million in capital commitments.
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Versant Funding LLC Announces $900,000 Facility to Distributor of PPE Including, Face Coverings, Hand Sanitizer and Wipes
May 10, 2021Versant Funding LLC is pleased to announce it has funded a $900,000 non-recourse factoring facility to a distributor of PPE including, face coverings, hand sanitizer and wipes. This recently formed company was experiencing increasing demand for its product line and required access to working capital to continue to meet customer expectations.
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Accuray Announces New $120 Million Credit Facility
May 10, 2021Accuray Incorporated (NASDAQ: ARAY) today announced it has entered into a new five-year $80 million term loan and $40 million revolving credit facility with Silicon Valley Bank and a syndicate of banks (the "New Credit Facility"). Silicon Valley Bank acted as administrative agent and sole bookrunner for the New Credit Facility. The New Credit Facility is comprised of three total participants, including Silicon Valley Bank, HSBC Bank USA, N.A. and Comerica Bank.
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Marco Completes Funding for Texas-based Produce Distributor
May 10, 2021Marco Capital Inc. established a factoring facility for a processor and marketer of Persian limes, which are grown and processed on their farms located in Veracruz, Mexico facility and distributed from their facility in Pharr, Texas. The company sought factoring in order to continue their growth as they distribute their produce throughout the US and Canada.
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Axiom Bank, N.A. Hires New AVP, Marketing Manager
May 10, 2021Victoria Lowe was recently appointed AVP, Marketing Manager, at Axiom Bank, N.A., a Maitland-based, leading community bank. Lowe brings more than three decades of experience in branding, advertising and communications for banking and finance enterprises.
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Cynthia Caine Named as Head of Wells Fargo Commercial Auto Group
May 10, 2021Wells Fargo today named Cynthia Caine to head the Commercial Auto group. A 30-year financial services veteran, Caine most recently led the Diversified Industries group within Distribution Finance. In her new role, Caine will lead a team of seasoned professionals, providing finance solutions for more than 4,500 customers nationwide. The current Commercial Auto Leadership team will continue to lead their prospective markets, reporting to Caine.
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Concord Serves As Exclusive Financial Advisor and Arranges $15MM in Senior Debt
May 6, 2021Concord Financial Advisors announced that it has served as exclusive financial advisor in arranging a $15 million senior secured revolving line of credit for Summit Golf Brands., Inc. CIBC Bank USA provided financing to refinance existing debt & provide additional working capital.
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Great Elm Capital Corp. Announces $25 Million Revolving Credit Facility
May 6, 2021Great Elm Capital Corp. (the “Company” or “GECC”) (NASDAQ: GECC), a business development company, today announced the Company has entered into a Loan, Guarantee and Security Agreement (the “Loan Agreement”) with City National Bank (“CNB”).
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Neighbourhood Holdings Closes Market-Leading $200 Million Syndicated Credit Facility led by ATB Financial and Expands Available Credit by $50 Million
May 6, 2021Neighbourhood Holdings Limited Partnership (“Neighbourhood”) is pleased to announce the closing of the amendment and extension of its $200 million committed, revolving credit facility led by ATB Financial. This extends the term of Neighbourhood’s existing market-leading facility, expands available credit by $50 million, and deepens Neighbourhood’s already strong relationships with its five-bank syndicate. This amendment provides certainty of financing, underpinning a solid platform for growth to allow Neighbourhood to continue to finance Canadian home buyers and home owners.
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Tiger Group Online Auction on May 20 Features Machining Centers, Industrial Robots and Other High-Utility Assets
May 6, 2021Tiger Group will begin accepting bids on May 13 for the May 20 online auction of the remaining assets from Eagle Manufacturing’s engine block-machining facility in Florence, Kentucky. The 300,000-square-foot metro Cincinnati plant was shuttered by parent company Linamar Corp. on April 19, 2021.
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