Crestmark secured a total of $29,152,900 in ABL financial solutions for seven new clients; Crestmark Equipment Finance provided $7,765,608 in five new lease transactions; the Joint Ventures Division provided $4,104,958 in financing to two new clients; and the Government Guaranteed Lending group provided $45,341,886 in financing for nine new clients in the second half of July.

Yieldstreet Private Business Credit (“PBC”)–PBC (www.yieldstreet.com/private-business-credit-investment), a provider of single and multi-tranche term loans and participations to finance companies, banks, credit funds and private equity-backed companies has closed a $16.7M Supply Chain Financing and a $1.5M Custom Model Home Loan after just recently announcing the launch of the new PBC vertical on June 23, 2020.

Stellex Capital Management (“Stellex”), a middle market private equity firm with offices in New York and London, announced today that it has opened an office in Ann Arbor, Michigan. The Company also announced the appointment of Shankar Kiru as Managing Director and Andrew P. Arton as Director. They will be based in the Ann Arbor office. The office officially opened on August 1st.

Hertz Global Holdings Inc. is seeking debtor-in-possession financing for its Chapter 11 bankruptcy after its unusual attempt to raise money by selling potentially worthless shares fell through. The rental-car company said in a regulatory filing Monday it is looking for new sources of cash with the travel business in a deep slump and proceeds from the sale of its cars going to pay off creditors. Hertz raised just $29 million from selling its stock before questioning by Securities and Exchange Commission officials led the company to terminate plans to offer as much as $500 million of equity.

Retail spaces at struggling malls, formerly occupied by closed or bankrupt department stores, may not be empty or unprofitable for long: Amazon may move in. The company is in talks with the largest mall owner in the United States, Simon Property Group, to convert former or current JCPenney and Sears stores into distribution hubs to deliver packages, according to The Wall Street Journal.

White Oak Global Advisors-backed company Atlantic Carbon Group Atlantic Carbon Group, Inc, (ACG) a leading producer of anthracite headquartered in Hazleton, PA, announced that its Board of Directors has appointed Jeff Strobel as President and CEO, effective August 1, 2020. In addition, Seth Schwartz, interim CEO, will transition to Chairman of the Board of Directors of ACG.

The initiative is designed to help Chicago Public School students build culturally relevant personal libraries and to keep them reading and learning during the summer and remote learning.

nCino, Inc. (NASDAQ: NCNO) today announced that $18.2 billion-asset Seattle-based WaFd Bank has deployed the nCino Bank Operating System to increase and digitize its commercial lending efficiency and improve the client experience. WaFd was also able to utilize nCino for SBA loan processing to assist small businesses through the coronavirus pandemic as a result of the platform’s agility. The bank worked with management and technology consulting firm West Monroe to implement nCino’s cloud-based digital platform.

TCF National Bank announced the successful completion of its integration with Chemical Bank on Monday, creating a strong foundation to strengthen individuals, businesses and the community. TCF retired the Chemical brand and unveiled its new brand platform and ad campaign to encapsulate how when one business or individual succeeds, the positive impacts are felt throughout the entire community. The company’s new tagline, “What’s in it for We,” follows TCF’s announcement of a $1 billion loan commitment to minority communities and minority-owned and women-owned small businesses.

Following its stress tests earlier this year, the Federal Reserve Board on Monday announced individual large bank capital requirements, which will be effective on October 1. Under its framework for large banks—those with more than $100 billion in total assets—capital requirements are in part determined by stress test results, which provide a risk-sensitive and forward-looking assessment of capital needs.

The new coronavirus has stalled the growth of commercial real estate in North America in the first half of 2020, according to a report by Preqin. According to the report, private real estate equity fundraising reached a peak in 2019 with approximately $83 billion in 2019. The report shows that number was on track to match in 2020, however by June only $23 billion has been raised in the sector. The report also shows that deal-making has been on the decline compared to 2019. There were 3,639 deals made in 2019. However, there have only been 968 deals made in the first half of 2020.

Fitch Ratings' new interactive country-by-country map of bank rating trends shows that the balance of Outlooks globally has turned sharply negative since the onset of the coronavirus pandemic. The proportion of bank ratings on Negative Outlook or Rating Watch Negative (RWN) shot up to over 60% at end-1H20 from 13% at end-2019. The proportion on RWN was 10%, the highest in recent years, reflecting near-term risks to many banks' ratings. There were virtually no ratings on Positive Outlook or Rating Watch Positive.

AVEO Oncology (Nasdaq: AVEO) today announced the closing of a tranched, $35 million debt facility with Hercules Capital, Inc. (NYSE: HTGC) and its affiliates. The new facility has a maturity of 36 months, extendable up to 48 months, and an interest-only period of 12 months, extendable up to 30 months upon the achievement of performance milestones related to the approval and commercialization of tivozanib.

Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending and purchase order financing firm in the U.S., today announced the completion of two separate multi-million dollar factoring deals with California-based apparel companies. A women’s apparel brand of high-quality sustainable fashion was in need of a new factoring arrangement when its current factor was no longer able to support the company and its growth plans.

San Francisco-based private financial group’s global fund of funds is now actively allocating to private investment funds and other capital providers offering secured loans to qualifying SMBs.

Cooley acted as legal advisor to Biohaven on the transaction. Latham & Watkins LLP and Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. acted as legal advisors to Sixth Street.

As an important milestone in its financial strategy, Oryx Stainless Group has refinanced 80 million Euro out of a previous 100 million Euro syndicated credit facility. In this transaction, HSBC acted as sole bookrunner, supported by Commerzbank, DZ Bank and Rabobank as Mandated Lead Arrangers. NRW Bank and Sparkasse Düsseldorf acted as Lead Arrangers.

Amerisource Business Capital announced the closing and funding of a $1,500,000 real estate loan to a flow meter manufacturer based in Texas. Doug Forbes, Regional Market Manager for Amerisource, stated: “We were able to quickly provide the funds needed to refinance the customer’s current bank debt through our real-estate product. The proceeds will increase the Company’s working capital which will be used to support future growth.”

BNP Paribas, a premier global bank, today announced that it has closed a $100 million syndicated Revolving Credit Facility (“RCF”) structured as a sustainability-linked loan (“SLL”) with Empresas CMPC S.A. (“CMPC” or the “Company”), a Chilean pulp and paper company. BNP Paribas, as Joint Lead Arranger and Sole Sustainability Coordinator, led the group of banks involved in the transaction, and will be the Administrative Agent of the facility.

Alternative credit specialist CIFC has launched a long/short high yield UCITS fund managed by industry veteran Jason Horowitz, who has been running similar strategies successfully for over 10 years. Mr. Horowitz joined the New York-based manager in January as Head of U.S. High Yield Bond Investments. He has been managing the strategy for CIFC since February 1, 2020, delivering a 12.69% net gain to the end of July, compared with a 0.18% loss for the wider U.S. high yield market.1 The strategy made positive returns during March at the height of market anxiety around Covid-19.