J D Factors announced it provided the following factoring facilities: $100,000 to a transportation company in Alberta; $250,000 to a transportation company in Maryland; $75,000 to a transportation company in Pennsylvania; $250,000 to a transportation company in Illinois and $100,000 to a transportation company in Ontario. ​

Zinobe, a leading online financial services company in the Colombian market, announced the closing of its USD $10 million secured line of credit, expandable up to USD $30 million, provided by Monachil Capital Partners, a global investment management firm founded by former Goldman Sachs partner Ali Meli.

Gap Inc. (NYSE: GPS) today announced it has closed its previously announced offering of $2.250 billion of senior secured notes and that it has entered into an asset-based revolving credit facility with an initial aggregate principal amount of $1.868 billion. The company also announced it has repaid the outstanding $500 million borrowed under its prior revolving credit facility, and no amounts were borrowed at close under the asset-based revolving credit facility.

Plug Power Inc. (NASDAQ: PLUG), a leading provider of hydrogen engines and fueling solutions enabling e-mobility, and Generate Capital have agreed to increase its term loan facility and reduce the interest rate. The term facility will be increased by $100M and the interest rate will be reduced to 9.5% from 12% for the entire facility. Plug Power has drawn an incremental $50M, and an additional $50M of borrowing capacity is available to be drawn based on mutual agreement. The maturity of the loan has been extended to October 2025 from October 2022. The proceeds will be used to help fund the Company’s hydrogen expansion strategies as well as overall working capital given the growing pipeline of opportunities.

With More Than 100 Years of Combined Experience in Crisis, Bankruptcy and Litigation Communications, Bob Gold & Associates Can Expertly Support Business Restructuring

On Monday J. Crew made it official and filed for Chapter 11 Bankruptcy protection. Under a debtor-in-possession agreement, it will restructure $1.65 million of debt by converting it into equity, while securing $400 million in financing through its existing lenders including Anchorage Capital, GSO Capital Partners, Davidson Kempner Capital Management, and others.

The COVID-19 outbreak has upended the fashion supply chain in many ways, largely through interruptions across factories, distribution centers and stores, but one of the biggest disruptions it has brought highlights a rift between retailers and manufacturers amid rampant order cancellations. This “seesaw effect”—which began with low supply from the sourcing locales first hit by the pandemic before an immediate shift to sagging demand from the most recently affected countries—illustrates the difficulty in maintaining a healthy balance of supply and demand during unpredictable global circumstances.

Blue Bird Corporation (Nasdaq: BLBD), the leading independent designer and manufacturer of school buses, reported that on May 7, 2020, it had secured an additional $41.9 million of capacity on its revolving credit facility. This brings the total revolving commitments to $141.9 million. The additional revolving commitments will be used for working capital and to fund general corporate purposes.

Shoe and accessory retail chain Aldo has succumb to the fate of a series of retailers this week and filed for Chapter 15 bankruptcy protection on Thursday. The retailer has an initial order in Canada under the Companies’ Creditors Arrangement Act and is seeking bankruptcy protection in the U.S. and Switzerland.

Stage Stores, Inc. (NYSE: SSI) (“Stage” or the “Company”) today announced that the Company has filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division. The Company will simultaneously solicit bids for a going concern sale of the business or any of its assets and initiate an orderly wind-down of operations. The Company will terminate the wind-down of operations at certain locations if it receives a viable going-concern bid.

Reflex Group is a market leading packaging company with operations across the UK. The business helps its broad customer-base to create unique ‘shelf presence’ for their consumer products, ranging from brand conception design through to labeling and packaging. The provision of this funding solution will enable Reflex to focus on further integration of recent acquisitions, drive organic growth and be at the forefront of innovation as they continue to invest in technology and people.

Stenn International, a data and financial technology company that delivers innovative online solutions for buyers and sellers in the global supply chains, announced today that it has closed a new $200 million financing facility from Crayhill Capital Management LP (“Crayhill”), a New York-based private credit manager and asset-based lender. The facility complements Stenn’s existing award-winning accounts receivable securitisation programme, which provides financing to companies engaged in international trade.

Even in today’s challenging environment, Gibraltar moved rapidly to help a new sponsor-backed client, Bentek, refinance a working capital loan. With a more flexible advance rate structure, we were able to provide Bentek with the funding support it required to efficiently manage a project backlog.

Huntington Business Credit announced it closed new $21,815,000 credit facilities with Advance Electrical Supply Company LLC on April 13, 2020. Proceeds of the facilities were used to refinance existing debt, finance the acquisition of real estate, and provide ongoing working capital growth financing.

Extensive industry experience and product knowledge of the management team led to an exclusive agreement with a global building materials distributor to design and manufacture private label safety gear products. Initial load-in orders for the items from existing dealer, wholesale and retail channels overlapped, resulting in large upfront capital requirements to produce goods. Given timing of the load-ins and the volume of purchases, goods needed to be put into production immediately to meet delivery dates.

High Road Capital Partners announced that its portfolio company General Tools & Instruments has acquired Garden Weasel, a provider of specialized lawn and garden tools, from Faultless Brands. The transaction marks General Tools’ second acquisition under High Road’s ownership, having acquired PacTool International in November 2017.

Crestmark is pleased to announce they have funded more than $215 million for small businesses through the Paycheck Protection Program (PPP), part of the SBA CARES stimulus package. More than 670 small businesses were funded by Crestmark as part of program in 38 states. More than half of the businesses were not existing clients of Crestmark and over 56% of the total loan sizes were for less than $100,000.

Today, Assembled Brands announced the closing of a $1.35 million senior secured credit facility with Violet Grey, the go-to source for luxury beauty products. Assembled Brands partnered with Agility Capital, a leading venture debt fund, on this financing round to propel the Hollywood-based beauty brand to greater heights.

BNP Paribas Securities Corp ("BNPPSC"), MUFG Bank, Ltd. ("MUFG") and Natixis, New York Branch ("NATIXIS") are Joint Lead Arrangers and Bookrunners for the Facility. Freepoint is also pleased to welcome as new Joint Lead Arrangers, ABN AMRO Capital USA LLC, Coöperatieve Rabobank U.A., New York Branch, and Société Générale. BNP Paribas remains as the Administrative Agent. Co-Syndication and Co-Documentation Agents include: ABN AMRO Capital USA LLC, Coöperatieve Rabobank U.A.., New York Branch, ING Bank N.V., and Société Générale.