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TSL Express Daily Articles & News
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Today's Top Story
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eCapital Acquires Leading UK Specialty Lender Advantedge
eCapital Corp. ("eCapital" or "the Company), a leading alternative finance provider in North America, today announced it has acquired UK-based specialty lender and factoring company Advantedge Commercial Finance. The acquisition will allow eCapital to continue building out its full suite of specialty lending solutions and geographically diversify its book of business.
Advantedge is a leading privately-owned invoice financing company providing cash flow solutions to small and medium-sized businesses in the UK. Founded in 2001, the Company currently provides funding to UK businesses seeking alternative financing. Since November 2016, revenues for Advantedge have grown almost threefold and EBITDA has increased by 2.5 times over that period.
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TSL Express Daily Headlines & News
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Worthy Lending, LLC Takes Majority Syndicate Position in a $2MM Inventory Finance Facility for A Southeastern Home Furnishings Company
October 21, 2019Worthy Lending LLC (WL) provided $1MM as the majority participant in a finance facility designed to help a well-established home furnishings company with over sixteen years of servicing the consumer. This regionally known and respected retailer lost its bank financing and required a finance facility to consolidate some of its locations and build inventory for their upcoming busy season.
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Capital One Closes $108.9 Million Loan to Meridian Senior Living
October 21, 2019The borrower will use a portion of the proceeds to acquire two senior housing communities in Florida, the 106-unit Symphony at the Waterways in Ft. Lauderdale and the 132-unit Symphony of Boca Raton.
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U.S. Bank Hires Peter Gordon as Head of Emerging Payments Product and Strategy
October 21, 2019U.S. Bank has hired real-time payments industry veteran Peter Gordon to lead emerging payments efforts across the company. In this new role, Gordon will oversee the strategy and product development of emerging payments products and services at U.S. Bank.
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CIT's Supply Chain Finance Unit Expands Capabilities
October 21, 2019Buyers and suppliers can now optimize their working capital by leveraging Supply Chain Finance's enhanced technical capabilities and product expertise to structure, implement and manage programs.
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Austin Financial Services Provides a $5MM Revolving Credit Facility to a Private Equity owned Full-Service Courier Company
October 21, 2019Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $5MM ABL credit facility to a Midwest-based Full-Service Courier Company that provides parcel delivery throughout the country.
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McDermott International Enters into Agreement for up to $1.7 Billion of New Financing
October 21, 2019Under the terms of the Agreement, McDermott will have immediate access to $650 million of financing comprised of $550 million under a term loan facility and $100 million under a letter of credit facility, before reduction for related transaction fees and expenses
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Equity Partners HG Closes Asheboro Elastics Corp Refinancing
October 21, 2019Equity Partners HG announced it acted as the exclusive investment banker to Asheboro Elastics Corp in the placement of its new senior secured debt. Asheboro Elastics Corp (“Asheboro” or the “Company”) is a privately-held, leading producer of knitted and woven narrow fabrics for the apparel and bedding industries.
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Golden Star Reports Previously Announced Secured Credit Facility Closed
October 21, 2019Golden Star Resources Ltd. (NYSE American: GSS; TSX: GSC; GSE: GSR) ("Golden Star" or the "Company") is pleased to report that it has closed the $60 million senior secured credit facility with Macquarie Bank Limited (the "Credit Facility") previously announced in its July 31, 2019 news release.
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U.S. Fintech West Creek Secures $150 Million Credit Facility From Pollen Street Capital to Expand Point-of-Sale Financing
October 21, 2019West Creek, a U.S.-based fintech company that provides point-of-sale financing, announced on Thursday it secured a $150 million credit facility from Pollen Street Capital, bringing the company’s total credit facility capacity to $250 million.
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Stonebriar Commercial Finance Welcomes Michael J. Renck, CFA as Senior Financial Analyst
October 21, 2019Stonebriar Commercial Finance (“SCF”) is pleased to announce that Michael J. Renck, CFA joined the company as Senior Financial Analyst effective October 15, 2019. Michael joins SCF from its equity sponsor, Eldridge Industries, where he was instrumental in the development and application of financial models for SCF and other Eldridge portfolio companies.
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Amerisource Closes $1,000,000 Credit Facility for Distribution Company
October 17, 2019Amerisource Business Capital announced the closing and funding of a $1,000,000 credit facility for a growing distribution and warehousing company based in California and Georgia. Proceeds of the facility were used to refinance existing bank debt and to support increased working capital needs.
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Avidbank Holdings, Inc. Announces Net Income of $3,452,000 for the Third Quarter of 2019
October 17, 2019Avidbank Holdings, Inc. ("the Company") (OTC Pink: AVBH), a bank holding company and the parent company of Avidbank ("the Bank"), an independent full-service commercial bank serving businesses and individuals primarily in Northern California, announced unaudited consolidated net income of $3,452,000 for the third quarter of 2019 compared to $2,865,000 for the same period in 2018.
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SSG Advises True Health Diagnostics in the Sale of Select Assets to Cleveland HeartLab
October 17, 2019SSG Capital Advisors, LLC ("SSG") acted as the investment banker to THG Holdings LLC ("True Health" or the "Company") in the sale of select assets to Cleveland HeartLab, a wholly-owned subsidiary of Quest Diagnostics ("Quest"). The sale was effectuated through a Chapter 11 Section 363 process in the U.S. Bankruptcy Court for the District of Delaware.
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Lender Spat Could Push Barbecue Fuel Retailer into Debt Restructuring
October 17, 2019Nearly a year after it began looking to ease its hefty debt load, Ferrellgas Partners LP is mired in a dispute with its most important lender and running out of time to turn things around.
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Santander Bank Appoints Patrick Dunphy Head of Mid Corporate Banking and Verticals
October 17, 2019Santander Bank today announced that Patrick Dunphy has been appointed Head of its Mid Corporate Banking and Verticals businesses within the Commercial Bank. In his new role, Pat will be responsible for leading the growth of Santander's mid corporate banking platform throughout North America, including managing teams based in Boston, Miami, Dallas and Chicago as well as the bank's Foreign Corporate Banking, Healthcare and Technology, Media and Telecommunications verticals. He will continue to report to David Swoyer, Head of Commercial Banking.
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Utica Equipment Finance, LLC Completes Two Transactions
October 17, 2019Utica Equipment Finance completed the funding of a CAD $2,300,000 term loan secured by machinery and equipment to a logging-based contractor located in Alberta, Canada and a $456,000 term loan secured by aircraft to a private aviation company.
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Winter Harbor Welcomes New Senior Director, Rick Malagodi
October 17, 2019Rick Malagodi joins Winter Harbor as a senior director, bringing over 30-years of restructuring, turnaround, and interim executive management experience to their team. Rick is a seasoned professional, having directed transactional processes including the raising of capital, guiding entities in out-of-court and court-supervised restructurings, and overseeing secured and unsecured debtor-side advising, liquidations, and M&A negotiations.
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Spencer Savings Bank Expands Commercial Banking Group
October 17, 2019Spencer Savings Bank recently expanded its Retail Bank Business Development Group. Daniel Murphy and Anthony Axtmann will expand commercial deposit and lending relationships for the Elmwood Park-based community bank as business development officers, Spencer Savings said.
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TD Bank Provides $2.4 Million SBA Loan to Support Purchase of The Kubert School
October 17, 2019TD Bank, America's Most Convenient Bank®, announced today that its U.S. Small Business Administration (SBA) Lending Group closed $2.4 million combined in 7(a) term and 7(a) Express loans for The Kubert School in Dover, New Jersey, which offers a fully accredited three-year course for cartoon and graphic arts.
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Lighthouse Provides $4,000,000 Credit Facility
October 17, 2019Lighthouse Financial Corp. is pleased to announce the completion of a $4,000,000 credit facility for a North Carolina-based manufacturer and distributor of narrow fabrics. The transaction included a $3,650,000 revolving line of credit along with a $350,000 term loan.
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