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Merchant Opportunities Fund Closes $27.5 Million BMO Credit Facility
The Merchant Opportunities Fund, a Vancouver-based diversified credit opportunities fund focused on prudently compounding capital over the long-term, today announced that it has closed a revolving debt facility with the Bank of Montreal ("BMO"). The facility consists of a $15 million funding commitment with a two-year term along with a $12.5 million accordion.
The Merchant Opportunities Fund invests in well-selected proprietary specialty finance portfolios, that in many cases consist of loans or advances that are originated, underwritten, and serviced by their primary originator, Merchant Growth. The BMO debt facility specifically provides funding for the Merchant Growth portfolio.
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IDB Bank Provides Three-Year Loan to American Customer Care
September 4, 2019IDB Bank®, a New York-based private and commercial bank, today announced it has provided American Customer Care with a three-year $9.3 million loan.
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OxyContin maker prepares 'free-fall' bankruptcy as settlement talks stall - sources
September 4, 2019OxyContin maker Purdue Pharma LP is preparing to seek bankruptcy protection before the end of the month if it does not reach a settlement with U.S. communities over widespread opioid litigation, three people familiar with the matter said, after some states balked at the company’s $10 billion to $12 billion offer in August to end their lawsuits as part of a negotiated Chapter 11 case.
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Chembio Diagnostics Announces $20 Million Term Loan with Perceptive Advisors
September 4, 2019Chembio Diagnostics, Inc. (Nasdaq: CEMI), a leading point-of-care diagnostics company focused on infectious diseases, today announced the closing of a $20 million term loan with an affiliate of Perceptive Advisors, one of the world’s leading healthcare-focused investment firms.
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BizCap Delivers Financing for Multinational Technology Services Company
September 4, 2019Business Capital (BizCap) structured and delivered a credit facility to Innominds Software, Inc., (Innominds) a provider of convergent design, technology and engineering solutions that accelerate digital transformation and growth for its enterprise clients, which include large blue chip technology companies.
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Gibraltar Continues Business Development Expansion with New Northeast SVP, Tony Vassallo
September 3, 2019Gibraltar welcomes Tony Vassallo as the newest veteran specialty-finance expert to join its experienced and dynamic Northeast regional business development team.
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Breaking News: LeClairRyan files for bankruptcy
September 3, 2019LeClairRyan, the battered Richmond law firm that in recent weeks announced it would shut down in the face of mass defections, has filed for bankruptcy.
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US mid-market lenders expect solid September pipeline
September 3, 2019US middle market lenders are optimistic that post-Labor Day dealflow will be steady and could likely accelerate heading into the fourth quarter.
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Neiman Marcus scores $27M loan for Galleria store in Fort Lauderdale
September 3, 2019Neiman Marcus closed on a nearly $27 million loan for its Fort Lauderdale location, marking the second loan the struggling retailer has secured in recent months in South Florida.
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Capital One Welcomes Jeff Goldsmith to Commercial Underwriting and Portfolio Management Team
September 3, 2019Capital One announced that it recently appointed Jeff Goldsmith to its Underwriting and Portfolio Management team.
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B. Riley Serves as Exclusive Sell-Side Advisor to PCM on its $581 Million Sale to Insight Enterprises
September 3, 2019B. Riley Financial, Inc. (NASDAQ: RILY) ("B. Riley") today announced its investment banking subsidiary, B. Riley FBR, Inc., served as exclusive financial advisor to PCM, Inc. (NASDAQ: PCMI) ("PCM") in connection with its completed sale to Insight Enterprises (NASDAQ: NSIT) ("Insight").
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Worthy Lending, LLC Finishes the Summer With $1.5MM in New Financing Facilities
September 3, 2019In order to complete numerous purchase orders and to prepare for a very busy year end, this midwestern manufacturer and servicer of 21st century state-of-the-art printing presses looked for a flexible lender able to finance its inventory.
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Byron Stafford Adds Direct Private Equity to Alternatives Enterprise
September 3, 2019Byron Stafford, a professional Asset Manager who provides institutional and individual investors with a broad array of equity and fixed income products designed to meet long-term goals, today announced that it has added private equity to its growing stable of alternative offerings for clients.
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J.C. Penny’s Debt Rating Downgraded by S&P
September 3, 2019Standard & Poors Corp. lowering its debt ratings on J.C. Penney Corp. Inc. due to continued revenue declines and the increasing likelihood that they’ll have to pursue a distressed debt exchange.
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Gina Thoma Peterson Joins Avidbank as Executive Vice President & Chief Operating Officer
September 3, 2019Avidbank Holdings, Inc., (OTC Pink: AVBH), a bank holding company and the parent company of Avidbank, announced today that Gina Thoma Peterson will join the Bank as Executive Vice President and Chief Operating Officer.
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Ultimate Finance to shift investments to asset-based lending
September 3, 2019Ultimate Finance is to withdraw from the unsecured loan market to concentrate on further investment in asset-based solutions.
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Celtic Capital Corporation today announced its most recent new client relationship
September 3, 2019Celtic Capital Corporation today announced its most recent new client relationship – a California-based Company that conducts telephone and mail solicitation for 501-C3 charitable organizations or political organizations.
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Byline Sponsor Finance supports Kian Capital in its recapitalization of The Eastwood Company
August 29, 2019Byline Bank Sponsor Finance ("BSF") announced that it has provided revolver and term credit facilities to finance Kian Capital’s recapitalization of The Eastwood Company (“Eastwood”). BSF was represented by Duane Morris, LLP.
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Bibby ups healthcare wholesaler's funding package to £10m for product expansion
August 29, 2019Bibby Financial Services (BFS) has increased Veenak International’s asset funding package to £10m, which will allow the healthcare wholesaler to expand its product offering.
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Trade Association Chief Warns US Days Away From 'Retail Armageddon'
August 29, 2019With the latest round of tariffs on a wide swath of goods from China set to hit Sunday, the head of a major trade association representing the apparel and footwear industry is warning the United States is fast approaching “retail Armageddon.”
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Tradewind Announces Export Factoring Facility for Electronics Company in Hong Kong
August 29, 2019Tradewind has closed a $2 million export factoring facility for an electronics company based in Hong Kong that sells items such as smart watches, smart bands, and tablets to traders and retailers globally.
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