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Alterna Capital Solutions Adds $30 Million to LOC, Bringing Total Credit Facility to $110 Million
Alterna Capital Solutions, a specialty and alternative financing lender to small businesses experiencing growth, today announced a $30-million increase to its asset-based credit facility with Wells Fargo Capital Finance. The line increase brings the firm’s total credit facility to $110 million, positioning Alterna Capital Solutions to meet growing demand in the small-business sector for customized options, with a financing partner capable of long-term guidance and flexible funding complementary to established bank relationships.

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TSL Express Daily Headlines & News

  • Fifth Third Business Capital Provides $15.8 Million Senior Credit Facility for Comfort Research
    April 15, 2020
    Fifth Third Business Capital, a division of Fifth Third Bank, National Association, announced it acted as sole lender and administrative agent on the closing of a new $15,828,000 Senior Credit Facility for Comfort Research, LLC. Based in Grand Rapids, Michigan, Comfort Research is the manufacturer of the Big Joe brand, which consists of casual furniture, pool products, and outdoor furniture. Fifth Third’s credit facility was used to refinance existing debt and working capital funding.
  • Michael Holland Joins TCI Business Capital
    April 15, 2020
    Michael joins from Pivotal Advisors, a national sales improvement firm dedicated to helping companies drive sales performance through implementation and reinforcement of systems, processes tools, and effective management where he had been a Sr. Consultant since 2017.
  • Sallyport Commercial Finance Delivers a Working Capital Solution to a Traffic Control Company
    April 15, 2020
    Sallyport Commercial Finance provides a $2,000,000 accounts receivable facility, including a $500,000 Cash Flow Loan to a company that provides a complete range of traffic control services for their customers.
  • FCA Successfully Completes Syndication of the €3.5 Billion Credit Facility
    April 15, 2020
    Fiat Chrysler Automobiles N.V. (NYSE: FCAU / MTA: FCA) (“FCA”) announced today that it has successfully completed the syndication to a group of thirteen banks (inclusive of the two original underwriting banks) of the credit facility entered into on March 25, 2020 (“Credit Facility”).
  • XFL Files for Chapter 11 Bankruptcy Due to Coronavirus
    April 14, 2020
    The XFL, a reboot of the 2001 league of the same name, filed for Chapter 11 bankruptcy protection on Monday a month after it had to cancel the remainder of its inaugural season because of the coronavirus outbreak.
  • JCPenney Hires AlixPartners as Debt Issues Grow
    April 14, 2020
    JCPenney has hired turnaround and restructuring firm AlixPartners LLP as the company looks for ways to survive its growing debt brought on by COVID-19 related business issues. According to Bloomberg, AlixPartners joins a growing list of advisers, including legal firm Kirkland & Ellis LLP and Lazard Ltd., the latter an investment bank that is also working with Macy’s.
  • Michigan Women Forward Launches Small-business Relief Program
    April 14, 2020
    Loan deferrals and grants geared toward Michigan's women entrepreneurs working in collaboration with SBA, Huntington Bank and others entrepreneurs are feeling community support, says MWF CEO. The new relief program, done in financial partnership with Detroit-based New Economy Initiative's Small Business COVID-19 Loan Relief Program, the Small Business Administration (SBA) and Huntington Bank, officially launched April 1 for the organization's existing companies and will run through September.
  • Walt Disney Enters New $5 Billion Credit Agreement For Coronavirus Cushion, Follows $6 Billion Debt Sale Last Month
    April 14, 2020
    Walt Disney said Monday it’s entered into a new $5 billion, one-year credit agreement. That follows $6 billion the company raised last month with a sale of debt securities. The current agreement matures in April of 2021 and could be extended for a year. It provides for advances to be made for a year to be used for general corporate purposes, the company said in a SEC filling.
  • Siena Lending Group Announces First Quarter Results
    April 14, 2020
    Siena Lending Group closed five deals totaling $51 million for an accessories manufacturer and food container manufacturer and companies provided software development, logistics and transportation. Siena Healthcare Finance closed two deals totaling $12 million for a skilled nursing facility chain and medical and government staffing.
  • Santander US Announces Leadership Appointments
    April 14, 2020
    Brian Yoshida named Chief Legal Officer for Santander US; Joe Abruzzo named Head of Commercial Banking for Santander Bank
  • OnDeck Capital Starts Applications Process for SBA's Paycheck Protection Program
    April 14, 2020
    On Deck Capital Inc., in partnership with Celtic Bank, will be serving small business owners seeking funding under the Small Business Administration's Paycheck Protection Program loan applications, a part of the Coronavirus Aid, Relief and Economic Security Act, known as the CARES Act.
  • Boskalis Refinances its Revolving Credit Facility With a new EUR 500 Million Facility
    April 14, 2020
    Royal Boskalis Westminster N.V. (Boskalis) has refinanced its revolving credit facility (RCF) providing the company with EUR 500 million committed bank financing until April 2025. The new facility was coordinated by ING Bank and is provided by a syndicate of seven banks (ABN AMRO Bank, BNP Paribas, HSBC, ING Bank, MUFG, Rabobank and NatWest).
  • Darden Restaurants Provides Business Update Related to COVID-19 And Announces New Term Loan
    April 14, 2020
    Bank of America, N.A., served as administrative agent for the new term loan credit agreement. Additionally, BofA Securities, Inc. and U.S. Bank National Association served as joint lead arrangers and joint bookrunners, U.S. Bank National Association served as syndication agent and Truist Bank served as documentation agent.
  • Blackstone and Alnylam Enter Into $2 Billion Strategic Financing Collaboration to Accelerate the Advancement of RNAi Therapeutics
    April 14, 2020
    Blackstone (NYSE: BX) and Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY), the leading RNAi therapeutics company, today announced the companies have entered into a broad strategic collaboration under which Blackstone will provide up to $2 billion to support Alnylam’s advancement of innovative RNA interference (RNAi) medicines that have the potential to transform the lives of patients suffering from a range of debilitating diseases.
  • Hitachi Capital America Welcomes David Williamson as Vice President of Sales, Technology Finance
    April 14, 2020
    Hitachi Capital America Corp. (HCA) today announced that David Williamson has joined the company as vice president of Sales, Technology Finance. David is responsible for originating, structuring, and closing working capital and supply chain financing relationships with new clients in the technology sector. He is based in southern California and reports to Paul Stemler, president of the Technology Finance business.
  • Maxim Commercial Capital Funded 250 Businesses in 1Q 2020
    April 14, 2020
    Maxim Commercial Capital is pleased to announce it funded hard asset-secured financings for 250 small and mid-sized businesses (SMBs) during the first quarter of 2020. With the onset of the COVID-19 pandemic, Maxim adapted quickly to safer-at-home working conditions for its 30+ team members. Maxim lends $10,000 to $3,000,000 to SMBs nationwide secured by heavy equipment and real estate to facilitate asset purchases, working capital and to refinance expensive short term debt.
  • Gordon Brothers Announces Launch of COVID-19 Industry Brief
    April 13, 2020
    Gordon Brothers, the global advisory, restructuring, and investment firm, announced today the launch of its Industry Brief, which can be found on the COVID-19 Resource Hub at www.gordonbrothers.com/covid-19. Gordon Brothers’ Industry Brief gives an up-to-the-minute assessment of what the firm’s inventory, machinery and equipment, and intangibles experts see happening in multiple markets. The Industry Brief also comments on how values may be affected based on the most recent trends and events in the near, medium, and long term.
  • KeyBank Names Greg Jones as Chief Diversity, Equity, and Inclusion Officer
    April 13, 2020
    KeyCorp (NYSE: KEY) today announced that Greg Jones has been named Chief Diversity, Equity, and Inclusion Officer for the company. In this role, Greg will be accountable for leading the strategy and tactics to improve the acquisition, movement, development and retention of diverse talent and suppliers.
  • SierraConstellation Partners Hires Bill Partridge as Managing Director in Bay Area, Adds Staff Nationwide
    April 13, 2020
    Merv Merzoug Joins as Director in New York City; Elizabeth Knapp Joins as Executive Assistant to Boston Office Leader Tom Lynch.
  • Allied Affiliated Funding Announces Recently Closed Transactions
    April 13, 2020
    Allied Affiliated Funding, a division of Axiom Bank, N.A. is pleased to announce the following recently closed transactions: $600,000 in receivables financing to a Texas-based company specializing in the recycle, repair, and resale of previously used electronics to wholesale and e-commerce customers and $1,500,000 in receivables financing to a Texas-based company providing inspection services for pipeline/rigs and consulting and training services to the oil and gas industry. .

 

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