- Dwight Funding Announces Select Credit Facilities for Growth-Stage Consumer Brands-$2M Functional Wellness
- JLL Income Property Trust Closes New $1 Billion Credit Facility
- Gateway Completes a Record 39 Stretch Deals in 45 Days Totaling $15 Million
- Dwight Funding Announces Select Credit Facilities for Growth-Stage Consumer Brands-$10M
- Dwight Funding Announces Select Credit Facilities for Growth-Stage Consumer Brands-$1M
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SFNet Presents "The Data You Need to Plan Ahead" Webinar
SFNet will host a webinar this Friday, May 14, from 12:00 p.m. – 1:00 p.m., titled "The Data You Need to Plan Ahead." This webinar is open to employees of SFNet member organizations and SFNet Chapter members only and will provide analysis behind the numbers for the Secured Finance Foundation (SFFound) Market Pulse Report, the Foundation’s Annual ABL and Factoring Surveys as well as Refinitiv’s Capital Markets League Table for Q1.
Panelists will include Barry Bobrow, managing director, Wells Fargo Securities; Miin Chen, COO, Siena Lending Group; Lawrence Chua, managing director, Ares Management LLC; Maria Dikeos, global head of Loans Contributions, Refinitiv; Terry Keating, president of Accord Financial’s US Asset Based Finance unit and Robert Wescott, president, Keybridge Research.
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TSL Express Daily Headlines & News
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Tradewind Finance Provides $2 Million Export Factoring Facility to Manufacturer of East Mediterranean Food based in Lebanon
September 30, 2020Tradewind Finance has announced the completion of a $2 million post-shipment finance facility for a manufacturer and exporter of East Mediterranean food based in Lebanon. The company sells beans, vegetarian dips, jams, and olive oil, among other items, and exports to the USA, Canada, the UK, Europe, and the Middle East. The funding is being used to support the company’s growth and expand their production plant.
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Wingspire Capital Supplies $30 Million Senior Secured Financing to Leading After-Market Auto Parts Distributor
September 30, 2020Wingspire Capital Holdings (“Wingspire”) is pleased to announce the funding of a $30 million senior secured working capital revolver to a leading distributor in after-market auto parts, consumer electronics and personal protective equipment. The borrower will use the funding to accelerate a turnaround plan that includes reducing expenses, eliminating slow-moving excess inventory and pursuing new customers with sought-after PPE products such as masks and thermometers.
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Celtic Capital Corporation Announces New Client Relationship
September 30, 2020Celtic Capital Corporation today announced its most recent new client relationship – a Kentucky-based wholesaler of industrial supplies, steel, fasteners and bearings. This 100+ year-old company has been family-owned and operated for many years and had recently fallen out of covenant with its bank line.
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Stonebriar Commercial Finance Promotes Bell and Fate
September 30, 2020Stonebriar Commercial Finance is pleased to announce the promotion of Travis Bell to Managing Director of Originations. Mr. Bell joined Stonebriar in 2017 as part of SCF’ Real Estate platform acquisition. Travis has a demonstrable track record of success growing Stonebriar’s Real Estate platform and developing relationships across the industry. With his promotion, Travis will expand his focus to include Stonebriar’s General Equipment platform.
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Bouchard Transportation Co., Inc. To Restructure Through Chapter 11 Proceeding
September 29, 2020Bouchard Transportation Co., Inc. (privately held) ("Bouchard" or the "Company"), the nation's largest independently-owned ocean-going petroleum barge company, today announced that it and certain of its subsidiaries have filed voluntary petitions to restructure under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas (the "Bankruptcy Court").
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Crestmark Welcomes Mark Collins as Business Development Officer
September 29, 2020Crestmark is pleased to announce the appointment of Mark Collins as business development officer for Crestmark’s Business Credit group. Based in South Carolina, he will report to Senior Vice President, Business Credit Sales Manager James Farrell, and will provide asset-based lending, factoring, and other Crestmark products to businesses nationwide.
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CIT Launches New Commercial Online Banking Platform for Community Association Banking Customers Features a Full Suite of Digital Solutions for Greater Efficiency and Agility
September 29, 2020CIT Group Inc. (NYSE: CIT) today announced the launch of a new commercial online banking platform, designed to maximize efficiency and agility for Community Association Banking customers. With new and enhanced features, the platform offers a robust suite of digital tools.
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Crystal Agents $45.0MM Senior Credit Facility for Roadrunner Freight
September 29, 2020Roadrunner Freight is a leading less-than-truckload (“LTL”) transportation provider. The Company services a diverse customer base across many industries including retail, industrial, food & beverage and health care with its differentiated point-to-point LTL model. The Crystal financing facilitated the final step of a multi-year corporate transformation to simplify Roadrunner’s business operations. The revolver, term loan and delayed draw term loan will be used for working capital and growth.
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Tiger Selling Surplus Professional Gear from Keslow Camera
September 29, 2020Tiger Group is now selling a selective offering of professional gear surplus to the continuing operations of Keslow Camera, a leading motion picture film and digital cinema camera rental company. Gear available for sale includes digital cameras from Red, Panasonic, Sony, and Canon; and lenses from Angenieux, Cooke, Baltar, Canon, and Nikkor; as well as heads, monitors, wireless units, magazines, tripods and other accessories from leading manufacturers.
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Secured Finance Network (SFNet) Announces New 2021 Leadership Committees
September 29, 2020Elected by SFNet Board of Directors, Executive and Management Committees provide direction, advocacy and thought leadership for secured finance industry.
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White Oak Healthcare Finance Provides Financing for National Partners in Healthcare
September 29, 2020White Oak Healthcare Finance, LLC (“White Oak”) today announced it acted as sole lender and administrative agent on the funding of a senior credit facility to finance growth for National Partners in Healthcare, LLC (“NPH”). “NPH is a market leading anesthesia business with an impressive track record of growth,” said Ross Eldridge, White Oak’s EVP and Chief Originations Officer. “We are excited to partner with a company that provides such a high level of care and focus on the patient experience.”
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Concord Financial Advisors Serves As Exclusive Financial Advisor For The O’Gara Group
September 29, 2020Concord Financial Advisors announced it has served as the exclusive financial advisor for The O’Gara Group based in Fairfield, OH and arranges $21 million in senior debt. The senior secured revolving line of credit financing was provided By UMB Capital Finance and will be used to refinance existing debt & support working capital.
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Stifel Expands Capital Solutions Group In Europe
September 28, 2020Stifel Financial Corp. (NYSE: SF) today announced it has materially enhanced the depth and quality of its London-based Capital Solutions Group through the addition of a team of bankers with experience across credit markets. This further develops the firm’s ability to offer full-service advisory and debt funding solutions to clients. Based in London, Jan-Erik Back, Duncan Sherriffs, and Alex Boyce have all joined Stifel, bringing with them the advisory business of Galiant Partners. Together, they have more than 50 years of combined experience as investors, advisors, and lenders.
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Amid Pandemic, Small Business Owners Respond With Meaningful Transformation; Remain Resilient, PNC Survey Shows
September 28, 2020- Substantial number of business owners make transformations to workforce, business processes, procedures and technology - While 97% of applicants call PPP essential to their business, more than half of all businesses say more government stimulus funding is needed - Despite dip since spring, optimism about the economy remains higher than during the Great Recession
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BGL Establishes Debt Capital Markets Group, Expands Product Offerings
September 28, 2020Brown Gibbons Lang & Company (BGL), a leading independent investment bank and financial advisory firm, has established a Debt Capital Markets Group with the addition of Jason Sutherland, Olivier Lopez, and Collin Supple. Sutherland and Lopez have joined as Managing Directors, and Supple has joined as a Vice President; all three bankers will be based in BGL's Chicago office.
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Vista Outdoor Named Successful Bidder in Bankruptcy Auction To Acquire Remington Ammunition and Accessories Assets
September 28, 2020Vista Outdoor Inc. (NYSE: VSTO), a global designer, manufacturer and marketer of products in the outdoor sports and recreation markets, today announced that it has been named a successful bidder in the auction process conducted in connection with Remington Outdoor Company, Inc.'s ("ROC's") Chapter 11 bankruptcy cases pending in the United States Bankruptcy Court for the Northern District of Alabama. As a result, Vista Outdoor will acquire certain assets related to ROC's ammunition and accessories businesses, including ROC's ammunition manufacturing facility in Lonoke, Arkansas and related intellectual property, including the Remington brand and trademarks.
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Ares Management Names Former Credit Suisse Exec as Australian Head
September 28, 2020Private equity firm Ares Management Corp. ARES.N on Monday named John Knox, the former head of Credit Suisse CSGN.S in Australia, as Chairman of its operations in the antipodean country and in New Zealand, the firm said in a statement.
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Fast AR Funding Provides a $200k Selective Factoring Facility for Healthcare Staffing Company
September 28, 2020When a UK-headquartered temporary healthcare staffing provider decided to open operations in the US, they tasked Fast AR Funding to keep up with demand. Shortly after setting up in the US, the domestic growth quickly outpaced expectations and the company found themselves with a cashflow gap to keep up with their growing payroll. The UK parent turned to Fast AR Funding to enable its US operations to become self-sufficient as they planned to expand in other countries as well. Fast AR Funding provided a $200,000 spot factoring solution with a high advance rate to support their growing payroll needs in 2020 and beyond.
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Enservco Closes Agreement with Lender to Amend its Senior Revolving Credit Facility, Substantially Reduce Debt and Strengthen its Balance Sheet
September 28, 2020Enservco Corporation (NYSE American: ENSV), a diversified national provider of specialized well-site services to the domestic onshore conventional and unconventional oil and gas industries, today announced it has closed its refinancing agreement with East West Bank (“EWB”). The refinancing significantly strengthens Enservco’s balance sheet by cutting its bank debt nearly in half and increasing shareholders’ equity by approximately $17.5 million.
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Medalist Partners Provides $40 Million Credit Facility to Ironwood Funding
September 28, 2020Ironwood Funding, a leading operator in underwriting and financing the purchase of non-performing consumer loans, today announced it has secured an additional $40 million credit facility from funds and co-investment vehicles managed by Medalist Partners, a private credit and special opportunities investment manager based in New York.
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