With restaurant dining areas shuttered throughout most of the country, consumers had no choice but to allocate their food spending elsewhere in recent weeks. While takeout and delivery options offered many restaurants a bit of a lifeline, it by no means made up for the mandated elimination of on-premises traffic.

EQ Riskfactor launches its first cloud-hosted SaaS product in the U.S. The new SaaS model enables lenders to implement the software seamlessly with no need for costly IT infrastructure, leading to rapid deployment and return on investment. The SaaS model is an extension of EQ Riskfactor and is specifically designed to meet the growing demand from the large U.S. factoring and receivables finance market.

Prestige Capital Funding, LLC is pleased to announce the closing of a $2,500,000 factoring arrangement for a Florida – based designer and distributor of vascular tubing, catheters and pediatric intravenous kits for sale to institutional medical concerns.

Three days after it filed for bankruptcy court protection, J. C. Penney is looking at operating with a slimmed-down network of 604 stores, down from 846, according to a business plan filed Monday with the Securities and Exchange Commission. And while the department store company expects its e-commerce business to fiscal 2019’s trajectory until the second quarter of fiscal 2021, store sales are unlikely to stabilize before holiday that year, it said.

The global pandemic and resulting widespread store closures and stay-at-home orders has the textile and apparel industry squeezed between challenges in supply and demand.

Accor announces today that it has signed an agreement with a consortium of 5 banks for a new €560m Revolving Credit Facility (RCF). The new fully committed facility has a 12 months tenor, with two six-months extension options in the hands of Accor and has neither covenant nor restriction. It has been underwritten by the following 5 banks: BNP Paribas, Crédit Agricole CIB, Crédit Industriel et Commercial, Natixis and Société Générale.

Regis Corporation (NYSE: RGS), a leader in the haircare industry, whose primary business is franchising, owning, and operating technology enabled hair salons, announced today that it successfully amended its $295 million revolving credit facility that expires in March 2023. The amendment, among other things, removes all prior financial covenants, including the net leverage ratio and fixed charge coverage ratio, and adds a minimum liquidity covenant.

Colony Bankcorp, Inc. (Nasdaq: CBAN) (“Colony” or the “Company”), the bank holding company for Colony Bank (the “Bank”), today announced that Leonard H. (“Lenny”) Bateman, Jr. has been named Executive Vice President and Chief Credit Officer of the Company, effective June 1, 2020. Bateman replaces J. Stan Cook, who will be reducing his workload and responsibilities for medical reasons.

Stellus Capital Investment Corporation announced that it has increased commitments under its revolving credit facility to $230 million, extended the commitment termination date of the Facility to March 10, 2021, and amended certain covenants and conditions of the Facility. The Facility was led by Zions Bancorporation, N.A. dba Amegy Bank, and includes a total of 10 bank participants. Pricing and advance rates remain unchanged on the facility.

J D Factors announced it provided the following factoring facilities: $100,000 to a transportation company in British Columbia; $200,000 to a transportation company in Arizona; $75,000 to a transportation company in Tennessee; $300,000 to a transportation company in Quebec and $100,000 to a transportation company in Texas. ​

The chain’s move came after J. Crew and the Neiman Marcus Group filed, and represented the biggest casualty amid retail closures tied to the coronavirus pandemic.

Centric Brands Inc. (the “Company”) (NASDAQ: CTRC), a leading lifestyle brands collective, announced today that it has entered into a Restructuring Support Agreement (“RSA” or the “agreement”) with substantially all of the Company’s secured lenders, led by certain funds managed by Blackstone (“Blackstone”), Ares Management Corporation (“Ares”), and HPS Investment Partners (“HPS”), to recapitalize the Company, provide $435 million in debtor-in-possession financing and allow the Company to operate without interruption throughout the restructuring process.

1st Commercial Credit has contracted seasoned bankruptcy attorneys to expedite DIP Financing request with an average funding time frame under 2 weeks.

SFNet’s vision of being an essential community for those who provide such solutions has never felt more relevant or rewarding. On the relief effort front, our Advocacy Committee has been communicating with legislators and meeting directly with Treasury and Fed officials to amend and refine the Main Street Lending Programs.

BNP Paribas, a premier global bank, continues to develop its presence in Latin America with the appointment of Florence Pourchet as Head of CIB Latin America, effective immediately. In this new role, Florence will help drive BNP Paribas’ Latin America strategy, as well as provide oversight and support to the various countries in the region where the bank has a presence.

In addition, B. Riley Financial, Inc. (“B. Riley”) has provided $30 million of new Tranche A last-out term loans and has committed to provide $35 million of additional incremental last-out term loans through the maturity date. These incremental last-out term loans will amortize the revolving credit facility through reductions in revolving credit facility commitments over time.

Yukon Partners (“Yukon”), a provider of mezzanine capital for middle market private equity transactions, is pleased to announce its support of ECM Industries (“ECM” or the “Company”), a portfolio company of Sentinel Capital Partners, in its acquisition of ILSCO.

GoTrade, a trading arm of Drip Capital, Inc., today announced that it has sealed a deal worth US$4 million with a leading seafood importer based out of New Jersey. Access to working capital has been a problem among SMBs for a while now. In most of the cases, importers must pay the suppliers once their shipment is cleared by the Food and Drug Administration (FDA). This process could take from a week to a couple of months, locking the working capital for the buyer for that period.

Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership of dry bulk vessels, today announced that on May 7, 2020, it signed a term loan facility with Nordea Bank Abp, filial i Norge (the “Lender”), through eight wholly-owned subsidiaries (the “Borrowers”), in the amount of US$55.848 million, to refinance its existing loan with the Lender of the same balance, so as to extend the repayment of the loan by two more years until March 2022.

CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced the formation of its Transactions & Turnaround Advisory practice, integrating the firm’s transactional, restructuring and dispute resolution, valuation, and project finance advisory services under one umbrella. Claudine Cohen, a seasoned transaction advisor, will lead the new group as Managing Principal.