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Encina Business Credit Provides $115 Million Revolving Credit Facility to Retailer
Encina Business Credit, LLC announced today that it is the Revolving Agent on a $115 million senior secured credit facility used to support the acquisition of a mid-sized discount retailer of home décor.
The revolving line of credit, which is collateralized by accounts receivable and inventory was used to support the purchase price and ongoing working capital needs of the borrower.
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TSL Express Daily Headlines & News
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Jim Peko to Lead Grant Thornton’s National Advisory Services Practice
August 12, 2019Grant Thornton LLP has named Jim Peko as the national managing principal of its Advisory Services practice. In this role, he will oversee the strategic direction and operations of the firm’s advisory-services offerings.
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First Business Capital Corp. Announces Closed Deal
August 12, 2019Peter Lowney, President of First Business Capital Corp., announced a recently closed and funded $6,100,000 credit facility including a revolving line of credit, equipment term loan, and a real estate term loan for a commercial door manufacturer company located in Wisconsin.
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Amerisource Closes $5,000,000 Credit Facility for Specialty Manufacturing Company
August 12, 2019Amerisource Business Capital announced the closing and funding of a $5,000,000 credit facility for a manufacturing company based in Texas which supports the LNG industry. Proceeds of the facility were used to refinance the Company’s existing bank revolver and term facility and for additional growth capital.
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Sallyport Commercial Finance Arranges a Credit Facility to an Industrial Machining Company in the Pacific Northwest
August 8, 2019Sallyport Commercial Finance extends a $1,000,000 Accounts Receivable facility to an industrial machining company targeting the aerospace and commercial sectors in the Pacific Northwest.
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Access Capital Provides $1.5 Million Credit Facility to JCW Search, Inc.
August 8, 2019JCW Search, Inc. (“JCW”) was originally formed in 2007 by CEO Jamie Woods in London, launching an operation in NYC in 2012 as its first foray into the USA market. The company has been substantially investing in its growth in Europe and the US as well with additional locations in Frankfurt, Austin, TX and Los Angeles, CA.
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SB360 and Hilco to Conduct Going Out of Business Sales at All 54 A’Gaci Stores
August 8, 2019A’GACI, an innovator in the fast fashion apparel industry since 1971, is closing all 54 stores in the US and Puerto Rico. A’GACI filed for Chapter 11 Bankruptcy protection this morning and retained a joint venture of SB360 Capital Partners (www.sb360.com) and Hilco Merchant Resources (www.hilcomerchantresources.com) to liquidate the stores. “Going Out of Business” Sales begin today in all A’GACI locations.
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Northwest Names Reitzes Executive Vice President, Head of Commercial Banking
August 8, 2019Mark T. Reitzes has been named Executive Vice President and Head of Commercial Banking for Northwest Bank, according to Ronald J. Seiffert, Northwest Chairman, President and CEO.
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Trakopolis Provides Update on Credit Facility Amendment with ESW Holdings
August 8, 2019Trakopolis IoT Corp. (TSXV: TRAK) ("Trakopolis" or the "Company") wishes to provide an update on certain provisions contained in the agreement with ESW Holdings, Inc. ("ESW") amending its US$3.0 million senior secured credit facility (the "Amending Agreement"), as previously announced on August 2, 2019.
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Pacific Western Bank Enhances and Expands Venture Banking Group
August 8, 2019Pacific Western Bank is pleased to announce the addition of seven experienced venture banking team members to broaden its coverage of the venture capital community.
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Business Capital Delivers Financing for Leading Eco-Friendly Packaging Company
August 7, 2019Business Capital (BizCap) structured and delivered a multi-tranche credit facility, inclusive of an equipment term loan, for Everett Graphics, Inc. (EGI) and a revolving line of credit for its subsidiary, Tahoe Paperboard, which supplies EGI and other packing companies with custom sheeted paperboard.
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Continental Business Credit Provides $750,000 Asset-based Lending Facility to a Fast-growing Manufacturer and Distributor of Nutritional and Supplement Powders and Beverages
August 7, 2019The accounts receivable and inventory facility will be used to provide additional working capital to support its sales and marketing plan.
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US Capital Global Provides $8 Million Financing for Pioneering MedTech Company Medical Testing
August 7, 2019Headquartered in San Francisco, US Capital Global provides sophisticated debt, equity, and investment products to lower middle market companies and investors.
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Magnolia Financial Announces Recent Funding for two Southeast-based Companies
August 7, 2019The funding consisted of a $750,000 revolving line of credit to company that serves property managers in making vacant rental housing ready for new tenants and a $1,500,000 line of credit to an emerging manufacturer of medical devices.
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Barneys New York Secures Approximately $218 Million in New Financing from Brigade Capital Management and B. Riley Financial Following a Competition to Provide Fresh Capital
August 7, 2019This new agreement, which materialized earlier in the day, replaces the previously announced $75 million agreement with affiliates of Hilco Global and the Gordon Brothers Group and will refinance all of Barneys New York's existing secured indebtedness.
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OneWest Bank Names Rolland Mattoon as Director of Small Business
August 7, 2019In this position, Mattoon will oversee small business banking services and offerings across the OneWest branch network spanning from San Diego to Ventura County. He will report to OneWest's Head of Retail Branch Banking, Heather Ellison.
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King Trade Capital Provides $2 Million Financing To NY-based Fragrance Business
August 7, 2019King Trade Capital (“KTC”) is pleased to announce the completion of a $2MM purchase order facility for a fragrance company based in New York (the “Client”).
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PNC Bank Provides Financing to Commercial Fitness Equipment Manufacturer
August 7, 2019PNC Bank, National Association, announced today the closing of a $235 million senior secured credit facility to support New York-based KPS Capital Partners’ (KPS) acquisition of Life Fitness (the company).
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Gateway Trade Funding Announces the Completion of 15 Transactions For US Importers and Suppliers
August 7, 2019Gateway Trade Funding, a PO and Trade Financing company, is happy to announce that it recently completed purchase order transactions.
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Pure Gold Secures US$90 Million Construction Finance Package and Announces Construction Decision for Madsen Red Lake Mine
August 7, 2019Pure Gold Mining Inc. (TSX-V: PGM, LSE: PUR) (“Pure Gold” or the “Company”) is pleased to announce closing of a US$90 million project financing package (the “Financing”) with Sprott Resource Lending Corp. (“Sprott”).
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Halcón Resources Files for Court Approval of Prepackaged Plan of Reorganization
August 7, 2019Halcón Resources Corporation (OTC PINK: HKRS) (“Halcón” or the “Company”) and its subsidiaries today announced that they filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas.
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