- Jupiter Receives Additional Extension to Credit Facility
- Omni-Lite Industries Announces Successful Refinancing of Its Senior Bank Credit Facility
- Wintrust Receivables Finance Announces Closing of a New $1.5 Million Line of Credit to Support Growing Trucking Company
- Santander Bank Expands Suite of U.S. Commercial Banking Solutions with Santander Cash Nexus Platform
- Dennis Bolton Joins Gordon Brothers’ Commercial & Industrial Division as Managing Director
White Oak Commercial Finance, LLC (“White Oak”), an affiliate of White Oak Global Advisors, LLC, announced it provided a $10 million factoring – inventory finance facility to a consumer electronics wholesaler and distributor serving public and private retailers in the US and international markets.
The funding was provided against the New Jersey-based company’s accounts receivable and inventory, which the firm will use to fund large-volume purchases to grow its business and provide competitive prices for top name-brand products.
TSL Express Trending Story
The secured finance industry, just like so many others, has demanded that remote work become the “norm.” Will this change better enable the industry to attract and retain top talent?
TSL Express Daily Headlines & News
Asset-based Borrowers Mostly Shut out of Fed's Main Street Program
September 8, 2020The Federal Reserve's Main Street Lending Program is shutting out a significant chunk of U.S. mid-sized companies, excluding some whose pre-coronavirus business models make them appear too indebted. The program's restrictions have largely excluded companies that rely on asset-based borrowing, a financing method prominent in real estate but also used in a variety of other industries, including retail and manufacturing.
Vena Solutions Inc. Accelerates Growth with US$25 Million Financing from CIBC Innovation Banking
September 8, 2020CIBC Innovation Banking is pleased to announce a growth capital financing for Toronto-based Vena Solutions Inc. (“Vena”), a provider of cloud-based financial planning and analysis software. The funding enables Vena to accelerate growth by further expanding product content and market reach.
BCT-The Community's Bank Continues Strategic Appointments, Welcomes Terry Elliott as Senior Vice President
September 8, 2020BCT-Bank of Charles Town, also known as The Community's Bank, announced the appointment of Terry L. Elliott to the position of Senior Vice President, Commercial Lender, serving Loudoun County, Prince William County, and Northern Virginia. Ms. Elliott brings a record of success to BCT. Most notably, she was recognized as Financial Services Champion of the Year by the United States Small Business Administration for the Richmond District.
Main Street Announces New Portfolio Investment Invests $26.0 Million in Superior Rigging & Erecting Co.
September 8, 2020Main Street partnered with the Company's management team to facilitate the transaction, with Main Street funding $26.0 million in a combination of first-lien, senior secured term debt and a direct equity investment. In addition, Main Street is providing Superior with access to additional term debt to facilitate its future growth needs.
Gerber Finance Announces the Hiring of Three New Full-time Employees
September 8, 2020Graham Nelson joins the California office as a Collateral Analyst with previous experience in the banking, payments, and healthcare industries. Hailey Williams is a recent graduate from Drew University with a Bachelor of Arts degree in Business. Kelly South came on board as a Marketing intern in January and after assisting with the Gerber Finance Foundation, social media efforts, and marketing campaigns she has officially been hired as Marketing & Communications Coordinator.
Unit Corporation Successfully Completes Financial Restructuring, Emerges from Chapter 11 and Appoints New Board of Directors
September 8, 2020Vinson & Elkins L.L.P. served as legal advisor, Evercore Group L.L.C. served as investment banker, and Opportune LLP served as restructuring advisor to the Company. Weil, Gotshal & Manges LLP served as legal advisor and Greenhill & Co., LLC served as financial advisor to an ad hoc group of holders of Subordinated Notes.
King Trade Capital Provides $5 Million PO Finance Solution for a Texas-based Distributor
September 8, 2020King Trade Capital is pleased to announce the financing of a PO finance facility of $5 million to help a Texas-based distributor purchase and sell hand sanitizing wipes to 7-11, Walgreens and other national retailers.
Business Executives See Improved Prospects for Their Own Companies but Report Little Confidence in U.S. Economy Overall, AICPA Survey Finds
September 8, 2020Hiring plans are expected to be flat over the next 12 months; Only 24 percent of executives say they are optimistic about the U.S. economy and profit and revenue expectations stabilize from last quarter’s steep drop.
Purple Innovation, Inc. Announces New Five-Year, $100 Million Senior Secured Credit Facility
September 8, 2020Purple Innovation, Inc. (NASDAQ: PRPL) ("Purple"), a comfort innovation company known for creating the "World's First No Pressure™ Mattress," today announced that it has executed a new five-year $100 million senior secured credit facility with a group of financial institutions led by KeyBanc Capital Markets. KeyBanc Capital Markets acted as the joint lead arranger and will be the administrative agent for the financing. Funding will be provided through a syndicate of banks including Keybank, Bank of Montreal, Fifth Third Bank, Silicon Valley Bank, Truist, Wells Fargo, Raymond James, and Arvest Bank.
Houlihan Lokey Hires Industry Veteran to Lead New Practice in Healthcare
September 8, 2020Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, today announced that Keith Barry has joined the firm as a Managing Director and Head of Medical Technology, a new practice within the Healthcare Group. He is based in San Francisco. Also joining the Healthcare Group as a Vice President in San Francisco is Allan Burton, who will cover medical technology.
Fifth Third Business Capital Arranges New Senior Credit Facility for Acquisition of Donnelly Custom Manufacturing
September 3, 2020Fifth Third’s credit facility was used to facilitate the acquisition of Donnelly Custom Manufacturing by Akoya Capital Partners, LLC and will assist the company with capital expansion, growth, and working capital funding.
Bridge Bank Extends $2MM Credit Facility to Miva, Inc
September 3, 2020Bridge Bank today announced it has extended a credit facility to Miva, Inc., a San Diego-based e-commerce software and service provider for mid-size and enterprise merchants, offering flexible, agile solutions that drive online sales.
Sterling National Bank Provides $3,000,000 of Secured Credit Facilities to Right Sized Solutions, Inc.
September 3, 2020Sterling National Bank's Commercial Services Group provided senior secured credit facilities totaling $3,000,000 to Right Sized Solutions, Inc. (“RSSi” or the “Company”). The credit facilities will provide working capital to further expand and support the Company’s future projected payroll and growth.
Lands' End Announces Second Quarter Fiscal 2020 Results
September 3, 2020Lands' End, Inc. (NASDAQ: LE) today announced financial results for the second quarter ended July 31, 2020.
WAYSIDE TECHNOLOGY GROUP, INC. : Entry into a Material Definitive Agreement, Financial Statements and Exhibits (form 8-K)
September 3, 2020On August 31, 2020, Wayside Technology Group, Inc. and certain of its wholly owned subsidiaries (collectively, the "Company"), entered into an amendment to the Company's existing $20,000,000 revolving credit facility (the "Amended Credit Facility") with Citibank N.A. ("Citibank")...
Neiman Marcus Adds More Stores to Its Closures List
September 3, 2020Neiman Marcus is set to close two more outposts. The high-end chain has confirmed that it will permanently shut down its full-line stores in Natick, Mass., and Walnut Creek, Calif. The company said that the locations are expected to continue operations into 2021, with exact closing dates yet to be announced.
Armstrong Teasdale Adds 20, Welcomes Martin Leigh Attorneys and Staff
September 3, 2020Armstrong Teasdale proudly announces that seven attorneys and 13 staff members from Martin Leigh have joined the firm’s Kansas City and St. Louis offices.
Alterna Capital Solutions Adds Three Experts to Meet Demand for SME Growth Capital
September 3, 2020Alterna Capital Solutions (Alterna) announced the recent addition of three members to its team of dedicated specialty and alternative financing experts.
MidFirst Business Credit Announces New Lending Relationship with Northern Brewer, LLC
September 3, 2020MidFirst Business Credit (MFBC) announced it has provided a $3 million working capital facility to Northern Brewer, LLC (Northern).
Akorn Receives Court Approval of Sale to Lenders
September 2, 2020Akorn, Inc., a leading specialty pharmaceutical company, today announced that the United States Bankruptcy Court for the District of Delaware has approved its sale to the Company's existing lenders.
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