- Gateway Completes a Record 39 Stretch Deals in 45 Days Totaling $15 Million
- Regions Bank Names Jay Darnell as Head of Commercial Card and Fintech Enablement
- Gateway Completes a Record 39 Stretch Deals in 45 Days Totaling $15 Million
- Gateway Completes a Record 39 Stretch Deals in 45 Days Totaling $15 Million
- NXT Capital Closes Senior Credit Facility in Support of Align Capital Partners’ Refinancing of ISPN Network Services
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Saratoga Investment Corp. Closes New $50 Million Senior Secured Revolving Credit Facility with Encina Lender Finance
Saratoga Investment Corp. (Investment” or “the Company”), a business development company, today announced that its wholly-owned subsidiary, Saratoga Investment Funding II LLC (“SIF II”), an entity formed for purposes of entering into this financing arrangement, closed a new $50.0 million senior secured credit facility (the “Facility”) with Encina Lender Finance, LLC (“Encina”). The Facility will be supported by loans held by SIF II and pledged to Encina under the terms of the credit agreement.
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Stonebriar Closes New $200 million Senior Unsecured Revolving Credit Facility
June 23, 2021The RCF will supplement the Company’s existing $1 billion non-recourse warehouse and be used to fund continued origination growth. RBC Capital Markets will serve as Administrative Agent, Joint Lead Arranger and Joint Bookrunning Manager. Fifth Third Bank will serve as Joint Lead Arranger and Joint Bookrunning Manager. Other lenders include Bank of America, BNP Paribas, Citizens Bank and MUFG Union Bank.
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Runway Growth Capital LLC Announces New Senior Hires, Augmenting its Finance and Accounting Team and Technology Origination Team
June 23, 2021Runway Growth Capital LLC ("Runway" or the "Company"), a leading provider of growth loans to both venture and non-venture backed companies seeking an alternative to raising equity, announced today that it has hired Carmela Thomson to be the firm's first Vice President of Finance and Accounting, and Andy Weyer to the post of Managing Director, Technology for Runway's Origination team.
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Sallyport Provides $5MM in Financing for a Construction Business
June 23, 2021Sallyport has just finalized an agreement to provide $5.0 million in finance for a construction business. The client had limited options given that they needed funding quickly and didn't want to rely on an expensive MCA lender to meet their needs. They required $1.5 million immediately with an uplift to a total facility of $5 million following a field exam.
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Amerisource Closes $1,500,000 Credit Facility for Transportation Firm
June 23, 2021Amerisource Business Capital announced the closing and funding of a $1,500,000 senior credit facility for a Texas-based transportation services which serves the construction industry. The proceeds were used to facilitate the purchase of additional vehicles and support their ongoing working capital needs.
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DLL to Provide Dealer Floor-plan Financing for Forest River, Inc.
June 22, 2021DLL, global asset finance company for equipment and technology partnered with Forest River, Inc., manufacturer of a wide variety of quality recreational vehicles, cargo trailers, pontoon boats and specialty vehicles. Dealers of Forest River product will now have the benefit and option of financing floorplan and inventory purchases with a DLL line of credit, anywhere in North America.
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Siena Closes $58 Million Credit Facility for Textile Manufacturer
June 22, 2021Siena Lending Group LLC ("Siena") announces the completion of a three-year asset based revolving credit facility for a family‐owned and operated Textile Manufacturer (“Company”). The facility consists of a $50MM Revolver and a $8.1MM Term Loan. As one of the oldest textile businesses in the United States with a deep and rich history dating back to the mid-1800’s, the company and its 1,000 plus dedicated employees have consistently demonstrated their ability to provide high-quality fabrics and products to the industrial, workwear, retail, sportswear and protective markets.
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Rosenthal Completes $25 Million Factoring Deal for a New York-Based Apparel and Home Goods Company
June 22, 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 $25 million factoring facility to support future growth opportunities for a major supplier of apparel and home goods.
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Winston & Strawn Represents One Homecare Solutions
June 22, 2021Winston & Strawn represented One Homecare Solutions (“onehome”) in its sale to leading health and well-being company Humana Inc. (NYSE: HUM), from WayPoint Capital Partners (WayPoint), the private equity affiliate of a New York-based family investment office.
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FocalPoint Advises SDI Presence on a Minority Investment from Abry Partners
June 22, 2021SDI Presence LLC (“SDI” or the “Company”), an IT consultancy and managed services provider (“MSP”), has secured a minority investment from Abry Partners, LLC (“Abry”), a Boston-based sector-focused private equity firm. FocalPoint served as exclusive financial advisor to the Company.
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Northpoint Commercial Finance Hires David Zimmerman as Business Development Officer for their Asset Based Lending Division
June 22, 2021Northpoint Commercial Finance is pleased to announce the addition of David Zimmerman to their team as Business Development Officer for their asset-based lending division supporting North America-based middle and lower middle-market companies. He will report to Robert Wagner, General Manager and Head of Asset Based Lending.
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Sallyport Commercial Finance Provides $2 Million in Purchase Order Finance for Apparel Business Expansion
June 22, 2021Sallyport is thrilled to announce $2.0 million in accounts receivable and purchase order finance for an expanding apparel business. Sallyport already had a valued relationship with the client and had previously supported them with tailored financial services, so they had no doubts about returning to us when they found themselves in need of funding and a letter of credit in order for their suppliers to release their goods for shipping to the US.
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Wintrust Receivables Finance Partners with Elite Transit Solutions in Support of the 3PL's National Expansion and Explosive Growth
June 22, 2021Wintrust Receivables Finance announces its partnership with Pittsburgh-based, leading 3PL company Elite Transit Solutions (ELITE). The financing will support ELITE's rapid transformation from a regional transportation logistics company to a national brand fueled by its proprietary Chameleon TMS software.
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Prospect Capital Funds $55 Million First Lien Senior Secured Floating Rate Term Loan to Enseo
June 22, 2021Prospect Capital Corporation (NASDAQ: PSEC) (“Prospect”) announced today that Prospect has funded a $55 million first lien senior secured floating rate term loan to support the acquisition of Enseo Holdings, Inc. (“Enseo”) by an affiliate of H.I.G. Capital, LLC (“H.I.G.”).
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Kyle Myers, Regional President & Head of Corporate Banking, PNC Bank, Kansas City
June 22, 2021PNC Bank, N.A. today announced the appointment of Kyle Myers as the regional president and head of Corporate Banking for Kansas City, effective immediately. In this role, Myers will lead the efforts to provide customers and clients in the market with access to a full range of products and capabilities through PNC’s differentiated Main Street Bank model.
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Kredivo Closes an Additional US$100M Warehouse Financing Facility with Victory Park Capital, Expanding the Total Facility to US$200M
June 22, 2021Kredivo, the leading digital credit platform for retail borrowers across Indonesia, and Victory Park Capital Advisors, LLC ("VPC"), a global alternative investment firm headquartered in Chicago, today announced the expansion of the initial US$100 million debt facility closed in July 2020 to a new total of US$200 million. The capital will be used to fund consumer loans for Kredivo's borrowers in Indonesia.
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Pacific Western Bank Appoints Steven Schwimmer to a Newly Created Role as Chief Innovation Officer
June 22, 2021Pacific Western Bank announced today that they have hired Steven Schwimmer to a newly created position as their new EVP, Chief Innovation Officer. Steve will be responsible for the Bank's systems and applications environment, as well as various Bank Operations Groups. He comes to the Bank with over 27 years of experience in the technology and process area of banking and financial services.
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Raymond James Adds Senior Banker
June 22, 2021Raymond James has expanded recapitalization and restructuring investment banking group with the addition of senior banker Richard Klein. During his career, Klein has advised boards of directors, official and ad hoc creditors committees, private equity sponsors, and various creditor constituencies on transactions involving restructured liabilities. Klein’s transaction expertise includes in-court and out-of-court restructurings, M&A transactions, section 363 asset sales, rescue financing, and exchange offers.
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CIT Northbridge Provides $30 Million Credit Facility to Online Luxury Accessories Retailer
June 22, 2021CIT Group Inc. (NYSE: CIT) today announced that CIT Northbridge Credit, as advised by CIT Asset Management LLC, served as sole lead arranger on a $30 million credit facility to an online retailer of luxury accessories.
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Castleton Commodities International LLC Closes on $1.7 Billion Credit Facility
June 22, 2021Credit Suisse (Switzerland) Ltd., ING Capital LLC and Wells Fargo Bank N.A. acted as senior managing agents in the facility. BNP Paribas served as global coordinator and administrative agent for the facility. Cadwalader, Wickersham & Taft LLP served as counsel to the lenders. Stroock & Stroock & Lavan LLP served as counsel to the borrower.
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Schulte Roth & Zabel Announces Addition of Leading Finance Lawyer Gregory Ruback
June 22, 2021Schulte Roth & Zabel (SRZ) announces the addition of Gregory Ruback as a partner in the Finance & Derivatives Group, resident in the firm’s New York office. He joins SRZ from DLA Piper, where he was a partner in the Finance Group.
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