• Golub Capital Acts as Administrative Agent and Joint Lead Arranger on $1 Billion Multi-Currency Financing to Support the Merger of 2020 Technologies and Compusoft
    Dec 2, 2021
    Golub Capital acted as Administrative Agent and Joint Lead Arranger on a $1 billion GOLD facility to finance the merger of 2020 Technologies ("2020") and Compusoft by Genstar Capital and TA Associates. GOLD financings are Golub Capital One-Loan Debt facilities. The GOLD facility was funded using a combination of U.S. dollars, Canadian dollars, British pounds sterling and eurodollars.
  • Hubert-Candice Interview with Candice Hubert, Member of SFNet’s Diversity, Equity & Inclusiveness Committee
    Dec 2, 2021
    Representing Republic Business Credit in the Texas market out of an expanding Houston office, Candice brings more than 18 years of banking and commercial finance experience. Candice joined Republic in 2012, after a long tenure with Chase Bank providing asset-based lending solutions to a multitude of industries. Candice has been able to assist clients in start-up, high-growth, and recoverable distressed situations and values the opportunity to work with industry partners across the United States.   She is a member of the Houston Chapter for the Secured Finance Network, Association for Corporate Growth, and a member of Turnaround Management Association.  In 2018, Candice was a proud recipient of the Secured Finance Network's 40 Under 40 Award and continues to serve as an advocate for SFNet programs by participating in business development panel discussions and has been featured in past SFNet informative articles.   
  • Accord Financial Provides $15M Growth Funding Solution for Oil and Gas Services Client
    Dec 2, 2021

    Accord Financial is pleased to announce that it closed a $15M facility for an oil and gas services company.  Our newest client provides transportation, environmental and related services to the Oil and Gas sector. With operations in Alberta and BC, this company, a leader in its field, needed a solid financing structure to return to pre-pandemic levels and have access to sufficient cash flow to support growth, confident that its financial partner would be able to accompany them along this path.

  • TTEC Increases its Credit Facility to $1.5 Billion
    Nov 30, 2021
    TTEC Holdings, Inc. (NASDAQ: TTEC), one of the largest, global CX (customer experience) technology and services innovators for end-to-end digital CX solutions, announced today that on November 23, 2021 it amended and extended its credit facility, increasing the total commitment amount by $300 million to $1.5 billion and extending the maturity to November 2026.

    Commitments were provided by a syndicate of banks arranged by Wells Fargo Securities, LLC serving as Left Lead Arranger and Left Bookrunner and BofA Securities, Inc., PNC Bank National Association, U.S. Bank, National Association, and Bank of the West, serving as Joint Lead Arrangers and Joint Bookrunners.
  • RonaldCSmith_photo SFNet Mourns the Passing of Past Chairman Ronald C. Smith
    Nov 29, 2021

    The staff and volunteer leaders of the Secured Finance Network are saddened to hear of Ron’s passing. We express our sincerest condolences to his family. 

    Ronald established a national reputation as a leader in the commercial finance industry. He was active in the National Commercial Finance Association, where he served for several years on its board, and as the organization’s President and Chairman. 

  • BertGoldberg International Factoring Association Mourns the Loss of Founder Bert Goldberg
    Nov 29, 2021
    The staff and volunteer leaders of the Secured Finance Network are saddened to hear of Bert’s passing. We express our sincerest condolences to his family and the entire IFA community. Bert was inducted into SFNet’s Hall of Fame earlier this month. His indelible contributions to the factoring industry will not be forgotten.

    The International Factoring Association (IFA) is saddened to announce that Founder and Executive Director Bert Goldberg has died after his battle with cancer. Mr. Goldberg was diagnosed in April, 2021, with stage four pancreatic cancer. He passed away at his home on November 27, 2021.


  • Juanita Schwartzkopf_150 Is Q4 2021 Activity Foreshadowing a Change?
    Nov 29, 2021

    As 2021 is drawing to a close, lenders and borrowers are asking what to expect in 2022. In March of 2020, when the first Covid-19 lockdowns began, there was a great deal of fear and uncertainty, both for individuals and for businesses. As the government pumped liquidity into the market, many businesses used those resources to survive through the period.

    Now in late 2021, as the liquidity sources have expired, and businesses must generate cash flow based on their performance, the level of performance stress is increasing. Not only has the “free money” been used, but now businesses are dealing with inflation, commodity price changes, labor issues and supply chain disruption as stresses to their financial performance.

  • Tupperware Brands Reduces Borrowing Costs and Increases Financial Flexibility with New $880M Credit Facility
    Nov 23, 2021
    Wells Fargo Securities, BMO Capital Markets, Fifth Third Bank, and Truist Securities acted as Joint Lead Arrangers and Joint Bookrunners on the New Facility. Wells Fargo Bank is the Administrative Agent, Swingline Lender, and Issuing Bank on the New Facility, with BMO Harris Bank, Fifth Third Bank, and Truist Bank as Syndication Agents
  • BrianGagel_ecapital_150 eCapital Corp. Names Brian Gagel as Managing Director of General Factoring
    Nov 22, 2021

    eCapital Corp. (“eCapital”), a leading alternative finance provider in North America, has named Brian Gagel as Managing Director of General Factoring in its Commercial Finance division. He will report to Dave Ciccolo, the CEO of the division, and will lead a team of account management and operations professionals to support the continued growth of the general factoring business.

  • SusanCarol_150x150 No Crystal Ball, but Plenty of Futurist Thinking at SFNet’s 77th Annual Convention in Phoenix
    Nov 22, 2021

    A key theme that emerged from sessions and keynotes at SFNet’s 77th Annual Conference in Phoenix, AZ, was the need to fortify and build resilience to prepare for challenges and increasing turbulence due to economic, regulatory, social and technological disruptions. And while the speakers said they appreciate more data, many recommended a greater focus on human connection that fosters trust. One independent said bluntly, “You want to look your borrower in the eye.”

    “Everyone wants a crystal ball,” said another presenter, “but no one has one.”

  • John J. Lim Joins Bank of America Business Capital Metro NYC Team
    Nov 22, 2021
    Bank of America Business Capital announced that John J. Lim has joined the Metro NYC team as a senior business development officer. Based in New York City, he will provide asset-based lending solutions and banking products to large corporate and middle market companies, intermediaries, and financial sponsors in New York City, Westchester and Connecticut.
  • Great Rock Capital Closes Credit Facility with WinCup
    Nov 18, 2021
    Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced the closing of a senior secured credit facility with WinCup, Inc., a leading manufacturer of traditional and sustainable disposable foodservice to-go ware, including phade® PHA straws.  The new capital refinanced the company’s existing senior debt and provides WinCup with additional liquidity to support their growing platform. The bespoke facility includes a revolver, a term loan, and a delayed draw term loan.
  • BetsyRatto_HilcoGlobal_150 Commercial Banking Leader Betsy Ratto Joins Hilco Global Team as Senior Vice President of Capital Solutions with responsibility to drive business for Restore Capital and Hilco Corporate Finance
    Nov 17, 2021

    Hilco Global announced today that long time Bank of America executive Betsy Ratto will join the Hilco Global team as Senior Vice President of Capital Solutions with responsibility to drive business for ReStore Capital and Hilco Corporate Finance.

    In this new role, Ms. Ratto will be responsible for originating and executing corporate finance and capital markets transactions, with focus on the retail industry and other financing transactions. Ms. Ratto will be based in Hilco’s Boston office and will work on identifying and originating lending/investment opportunities through Hilco Global’s and her own existing network of professional contacts and relationships, including investment banks, private equity firms and hedge funds.

  • iPower Enters Into $25 Million Credit Facility with JPMorgan Chase
    Nov 16, 2021
    iPower Inc. (Nasdaq:IPW) (“iPower” or the “Company”), one of the leading online hydroponic equipment suppliers and retailers in the United States, has entered into a three-year $25 million secured revolving credit facility with JPMorgan Chase Bank, N.A. The credit facility also provides an accordion feature to borrow an additional $25 million for a total of up to $50 million.
  • Andrea PetroOct17_150x150 An Interview with Andrea Petro, Board Member of Ready Capital Corporation and Consultant to Waterfall Asset Management
    Nov 15, 2021

    In this installment of our series of executive interviews, Charlie Perer sits with Andrea Petro to talk about her new role as Board Member at Ready Capital, and to share her advice to ABL managers about consolidation, competition and the current state of the market.

  • Citizens Leads $125 Million Asset-Based Revolving Credit Facility for Destination XL Group
    Nov 15, 2021
    Citizens announced today that it has led a new $125 million asset-based revolving credit facility for Destination XL Group, an omni-channel specialty retailer of big and tall men's apparel. Citizens is sole lead arranger, sole bookrunner and administrative agent.
  • Revolution Capital Acquires Grand Financial New York

    Revolution Capital, the leading provider of factoring & cashflow financing in Canada and the United States, has acquired Grand Financial New York., a factoring company specializing in staffing and transportation.

    The move expands Revolution Capital’s reach in the US market, solidifies its presence on the East Coast, and allows clients of Grand Financial New York to access faster funding, personalized service, and transparent online reporting.  

  • TSL1121_Wave_Anderson Is a Corporate Default Wave Ahead In 2022?
    Nov 11, 2021

    Some turnaround and M&A leaders are predicting the second quarter of 2022 could be when the “default boom” hits. Asset-based lenders, factors, and other secured lenders will need to be at the ready to handle turnaround deals.

  • Citizens Leads $75 Million Credit Facilities to Support Macquarie Capital’s Investment in Procentrix, Inc.
    Nov 11, 2021

    Citizens announced today that it has led $75 million in new credit facilities for Procentrix, a professional and technology services company serving U.S. federal government customers in civilian, homeland security and defense sectors. Citizens is the Left Lead Arranger and Administrative Agent.

    The new credit facilities supported an investment in Procentrix by Macquarie Capital, the corporate advisory, capital markets and principal investment arm of Macquarie Group. This investment will be used to bring more capacity and service offerings to address additional customer requests and to diversify Procentrix’s customer base.

  • Wingspire Capital Provides $40 Million Senior Secured Credit Facility to Theragenics Corporation
    Nov 10, 2021

    Wingspire Capital LLC (“Wingspire”) is pleased to announce a $40 million senior secured credit facility provided to Theragenics Corporation, a developer and manufacturer of innovative medical devices.

    The transaction included a $20 million revolving line of credit and a $20 million term loan, with the proceeds used to refinance existing debt and fund ongoing working capital and general corporate needs.

  • Golub Capital Acts as Administrative Agent and Joint Lead Arranger on $1 Billion Multi-Currency Financing to Support the Merger of 2020 Technologies and Compusoft
    Dec 2, 2021
    Golub Capital acted as Administrative Agent and Joint Lead Arranger on a $1 billion GOLD facility to finance the merger of 2020 Technologies ("2020") and Compusoft by Genstar Capital and TA Associates. GOLD financings are Golub Capital One-Loan Debt facilities. The GOLD facility was funded using a combination of U.S. dollars, Canadian dollars, British pounds sterling and eurodollars.
  • Hubert-Candice Interview with Candice Hubert, Member of SFNet’s Diversity, Equity & Inclusiveness Committee
    Dec 2, 2021
    Representing Republic Business Credit in the Texas market out of an expanding Houston office, Candice brings more than 18 years of banking and commercial finance experience. Candice joined Republic in 2012, after a long tenure with Chase Bank providing asset-based lending solutions to a multitude of industries. Candice has been able to assist clients in start-up, high-growth, and recoverable distressed situations and values the opportunity to work with industry partners across the United States.   She is a member of the Houston Chapter for the Secured Finance Network, Association for Corporate Growth, and a member of Turnaround Management Association.  In 2018, Candice was a proud recipient of the Secured Finance Network's 40 Under 40 Award and continues to serve as an advocate for SFNet programs by participating in business development panel discussions and has been featured in past SFNet informative articles.   
  • Accord Financial Provides $15M Growth Funding Solution for Oil and Gas Services Client
    Dec 2, 2021

    Accord Financial is pleased to announce that it closed a $15M facility for an oil and gas services company.  Our newest client provides transportation, environmental and related services to the Oil and Gas sector. With operations in Alberta and BC, this company, a leader in its field, needed a solid financing structure to return to pre-pandemic levels and have access to sufficient cash flow to support growth, confident that its financial partner would be able to accompany them along this path.

  • TTEC Increases its Credit Facility to $1.5 Billion
    Nov 30, 2021
    TTEC Holdings, Inc. (NASDAQ: TTEC), one of the largest, global CX (customer experience) technology and services innovators for end-to-end digital CX solutions, announced today that on November 23, 2021 it amended and extended its credit facility, increasing the total commitment amount by $300 million to $1.5 billion and extending the maturity to November 2026.

    Commitments were provided by a syndicate of banks arranged by Wells Fargo Securities, LLC serving as Left Lead Arranger and Left Bookrunner and BofA Securities, Inc., PNC Bank National Association, U.S. Bank, National Association, and Bank of the West, serving as Joint Lead Arrangers and Joint Bookrunners.
  • RonaldCSmith_photo SFNet Mourns the Passing of Past Chairman Ronald C. Smith
    Nov 29, 2021

    The staff and volunteer leaders of the Secured Finance Network are saddened to hear of Ron’s passing. We express our sincerest condolences to his family. 

    Ronald established a national reputation as a leader in the commercial finance industry. He was active in the National Commercial Finance Association, where he served for several years on its board, and as the organization’s President and Chairman. 

  • BertGoldberg International Factoring Association Mourns the Loss of Founder Bert Goldberg
    Nov 29, 2021
    The staff and volunteer leaders of the Secured Finance Network are saddened to hear of Bert’s passing. We express our sincerest condolences to his family and the entire IFA community. Bert was inducted into SFNet’s Hall of Fame earlier this month. His indelible contributions to the factoring industry will not be forgotten.

    The International Factoring Association (IFA) is saddened to announce that Founder and Executive Director Bert Goldberg has died after his battle with cancer. Mr. Goldberg was diagnosed in April, 2021, with stage four pancreatic cancer. He passed away at his home on November 27, 2021.


  • Juanita Schwartzkopf_150 Is Q4 2021 Activity Foreshadowing a Change?
    Nov 29, 2021

    As 2021 is drawing to a close, lenders and borrowers are asking what to expect in 2022. In March of 2020, when the first Covid-19 lockdowns began, there was a great deal of fear and uncertainty, both for individuals and for businesses. As the government pumped liquidity into the market, many businesses used those resources to survive through the period.

    Now in late 2021, as the liquidity sources have expired, and businesses must generate cash flow based on their performance, the level of performance stress is increasing. Not only has the “free money” been used, but now businesses are dealing with inflation, commodity price changes, labor issues and supply chain disruption as stresses to their financial performance.

  • Tupperware Brands Reduces Borrowing Costs and Increases Financial Flexibility with New $880M Credit Facility
    Nov 23, 2021
    Wells Fargo Securities, BMO Capital Markets, Fifth Third Bank, and Truist Securities acted as Joint Lead Arrangers and Joint Bookrunners on the New Facility. Wells Fargo Bank is the Administrative Agent, Swingline Lender, and Issuing Bank on the New Facility, with BMO Harris Bank, Fifth Third Bank, and Truist Bank as Syndication Agents
  • BrianGagel_ecapital_150 eCapital Corp. Names Brian Gagel as Managing Director of General Factoring
    Nov 22, 2021

    eCapital Corp. (“eCapital”), a leading alternative finance provider in North America, has named Brian Gagel as Managing Director of General Factoring in its Commercial Finance division. He will report to Dave Ciccolo, the CEO of the division, and will lead a team of account management and operations professionals to support the continued growth of the general factoring business.

  • SusanCarol_150x150 No Crystal Ball, but Plenty of Futurist Thinking at SFNet’s 77th Annual Convention in Phoenix
    Nov 22, 2021

    A key theme that emerged from sessions and keynotes at SFNet’s 77th Annual Conference in Phoenix, AZ, was the need to fortify and build resilience to prepare for challenges and increasing turbulence due to economic, regulatory, social and technological disruptions. And while the speakers said they appreciate more data, many recommended a greater focus on human connection that fosters trust. One independent said bluntly, “You want to look your borrower in the eye.”

    “Everyone wants a crystal ball,” said another presenter, “but no one has one.”

  • John J. Lim Joins Bank of America Business Capital Metro NYC Team
    Nov 22, 2021
    Bank of America Business Capital announced that John J. Lim has joined the Metro NYC team as a senior business development officer. Based in New York City, he will provide asset-based lending solutions and banking products to large corporate and middle market companies, intermediaries, and financial sponsors in New York City, Westchester and Connecticut.
  • Great Rock Capital Closes Credit Facility with WinCup
    Nov 18, 2021
    Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced the closing of a senior secured credit facility with WinCup, Inc., a leading manufacturer of traditional and sustainable disposable foodservice to-go ware, including phade® PHA straws.  The new capital refinanced the company’s existing senior debt and provides WinCup with additional liquidity to support their growing platform. The bespoke facility includes a revolver, a term loan, and a delayed draw term loan.
  • BetsyRatto_HilcoGlobal_150 Commercial Banking Leader Betsy Ratto Joins Hilco Global Team as Senior Vice President of Capital Solutions with responsibility to drive business for Restore Capital and Hilco Corporate Finance
    Nov 17, 2021

    Hilco Global announced today that long time Bank of America executive Betsy Ratto will join the Hilco Global team as Senior Vice President of Capital Solutions with responsibility to drive business for ReStore Capital and Hilco Corporate Finance.

    In this new role, Ms. Ratto will be responsible for originating and executing corporate finance and capital markets transactions, with focus on the retail industry and other financing transactions. Ms. Ratto will be based in Hilco’s Boston office and will work on identifying and originating lending/investment opportunities through Hilco Global’s and her own existing network of professional contacts and relationships, including investment banks, private equity firms and hedge funds.

  • iPower Enters Into $25 Million Credit Facility with JPMorgan Chase
    Nov 16, 2021
    iPower Inc. (Nasdaq:IPW) (“iPower” or the “Company”), one of the leading online hydroponic equipment suppliers and retailers in the United States, has entered into a three-year $25 million secured revolving credit facility with JPMorgan Chase Bank, N.A. The credit facility also provides an accordion feature to borrow an additional $25 million for a total of up to $50 million.
  • Andrea PetroOct17_150x150 An Interview with Andrea Petro, Board Member of Ready Capital Corporation and Consultant to Waterfall Asset Management
    Nov 15, 2021

    In this installment of our series of executive interviews, Charlie Perer sits with Andrea Petro to talk about her new role as Board Member at Ready Capital, and to share her advice to ABL managers about consolidation, competition and the current state of the market.

  • Citizens Leads $125 Million Asset-Based Revolving Credit Facility for Destination XL Group
    Nov 15, 2021
    Citizens announced today that it has led a new $125 million asset-based revolving credit facility for Destination XL Group, an omni-channel specialty retailer of big and tall men's apparel. Citizens is sole lead arranger, sole bookrunner and administrative agent.
  • Revolution Capital Acquires Grand Financial New York

    Revolution Capital, the leading provider of factoring & cashflow financing in Canada and the United States, has acquired Grand Financial New York., a factoring company specializing in staffing and transportation.

    The move expands Revolution Capital’s reach in the US market, solidifies its presence on the East Coast, and allows clients of Grand Financial New York to access faster funding, personalized service, and transparent online reporting.  

  • TSL1121_Wave_Anderson Is a Corporate Default Wave Ahead In 2022?
    Nov 11, 2021

    Some turnaround and M&A leaders are predicting the second quarter of 2022 could be when the “default boom” hits. Asset-based lenders, factors, and other secured lenders will need to be at the ready to handle turnaround deals.

  • Citizens Leads $75 Million Credit Facilities to Support Macquarie Capital’s Investment in Procentrix, Inc.
    Nov 11, 2021

    Citizens announced today that it has led $75 million in new credit facilities for Procentrix, a professional and technology services company serving U.S. federal government customers in civilian, homeland security and defense sectors. Citizens is the Left Lead Arranger and Administrative Agent.

    The new credit facilities supported an investment in Procentrix by Macquarie Capital, the corporate advisory, capital markets and principal investment arm of Macquarie Group. This investment will be used to bring more capacity and service offerings to address additional customer requests and to diversify Procentrix’s customer base.

  • Wingspire Capital Provides $40 Million Senior Secured Credit Facility to Theragenics Corporation
    Nov 10, 2021

    Wingspire Capital LLC (“Wingspire”) is pleased to announce a $40 million senior secured credit facility provided to Theragenics Corporation, a developer and manufacturer of innovative medical devices.

    The transaction included a $20 million revolving line of credit and a $20 million term loan, with the proceeds used to refinance existing debt and fund ongoing working capital and general corporate needs.

300x250_GenComm_Static_2
 
 
  • Golub Capital Acts as Administrative Agent and Joint Lead Arranger on $1 Billion Multi-Currency Financing to Support the Merger of 2020 Technologies and Compusoft
    Dec 2, 2021
    Golub Capital acted as Administrative Agent and Joint Lead Arranger on a $1 billion GOLD facility to finance the merger of 2020 Technologies ("2020") and Compusoft by Genstar Capital and TA Associates. GOLD financings are Golub Capital One-Loan Debt facilities. The GOLD facility was funded using a combination of U.S. dollars, Canadian dollars, British pounds sterling and eurodollars.
  • Hubert-Candice Interview with Candice Hubert, Member of SFNet’s Diversity, Equity & Inclusiveness Committee
    Dec 2, 2021
    Representing Republic Business Credit in the Texas market out of an expanding Houston office, Candice brings more than 18 years of banking and commercial finance experience. Candice joined Republic in 2012, after a long tenure with Chase Bank providing asset-based lending solutions to a multitude of industries. Candice has been able to assist clients in start-up, high-growth, and recoverable distressed situations and values the opportunity to work with industry partners across the United States.   She is a member of the Houston Chapter for the Secured Finance Network, Association for Corporate Growth, and a member of Turnaround Management Association.  In 2018, Candice was a proud recipient of the Secured Finance Network's 40 Under 40 Award and continues to serve as an advocate for SFNet programs by participating in business development panel discussions and has been featured in past SFNet informative articles.   
  • Accord Financial Provides $15M Growth Funding Solution for Oil and Gas Services Client
    Dec 2, 2021

    Accord Financial is pleased to announce that it closed a $15M facility for an oil and gas services company.  Our newest client provides transportation, environmental and related services to the Oil and Gas sector. With operations in Alberta and BC, this company, a leader in its field, needed a solid financing structure to return to pre-pandemic levels and have access to sufficient cash flow to support growth, confident that its financial partner would be able to accompany them along this path.

  • TTEC Increases its Credit Facility to $1.5 Billion
    Nov 30, 2021
    TTEC Holdings, Inc. (NASDAQ: TTEC), one of the largest, global CX (customer experience) technology and services innovators for end-to-end digital CX solutions, announced today that on November 23, 2021 it amended and extended its credit facility, increasing the total commitment amount by $300 million to $1.5 billion and extending the maturity to November 2026.

    Commitments were provided by a syndicate of banks arranged by Wells Fargo Securities, LLC serving as Left Lead Arranger and Left Bookrunner and BofA Securities, Inc., PNC Bank National Association, U.S. Bank, National Association, and Bank of the West, serving as Joint Lead Arrangers and Joint Bookrunners.
  • RonaldCSmith_photo SFNet Mourns the Passing of Past Chairman Ronald C. Smith
    Nov 29, 2021

    The staff and volunteer leaders of the Secured Finance Network are saddened to hear of Ron’s passing. We express our sincerest condolences to his family. 

    Ronald established a national reputation as a leader in the commercial finance industry. He was active in the National Commercial Finance Association, where he served for several years on its board, and as the organization’s President and Chairman. 

  • BertGoldberg International Factoring Association Mourns the Loss of Founder Bert Goldberg
    Nov 29, 2021
    The staff and volunteer leaders of the Secured Finance Network are saddened to hear of Bert’s passing. We express our sincerest condolences to his family and the entire IFA community. Bert was inducted into SFNet’s Hall of Fame earlier this month. His indelible contributions to the factoring industry will not be forgotten.

    The International Factoring Association (IFA) is saddened to announce that Founder and Executive Director Bert Goldberg has died after his battle with cancer. Mr. Goldberg was diagnosed in April, 2021, with stage four pancreatic cancer. He passed away at his home on November 27, 2021.


  • Juanita Schwartzkopf_150 Is Q4 2021 Activity Foreshadowing a Change?
    Nov 29, 2021

    As 2021 is drawing to a close, lenders and borrowers are asking what to expect in 2022. In March of 2020, when the first Covid-19 lockdowns began, there was a great deal of fear and uncertainty, both for individuals and for businesses. As the government pumped liquidity into the market, many businesses used those resources to survive through the period.

    Now in late 2021, as the liquidity sources have expired, and businesses must generate cash flow based on their performance, the level of performance stress is increasing. Not only has the “free money” been used, but now businesses are dealing with inflation, commodity price changes, labor issues and supply chain disruption as stresses to their financial performance.

  • Tupperware Brands Reduces Borrowing Costs and Increases Financial Flexibility with New $880M Credit Facility
    Nov 23, 2021
    Wells Fargo Securities, BMO Capital Markets, Fifth Third Bank, and Truist Securities acted as Joint Lead Arrangers and Joint Bookrunners on the New Facility. Wells Fargo Bank is the Administrative Agent, Swingline Lender, and Issuing Bank on the New Facility, with BMO Harris Bank, Fifth Third Bank, and Truist Bank as Syndication Agents
  • BrianGagel_ecapital_150 eCapital Corp. Names Brian Gagel as Managing Director of General Factoring
    Nov 22, 2021

    eCapital Corp. (“eCapital”), a leading alternative finance provider in North America, has named Brian Gagel as Managing Director of General Factoring in its Commercial Finance division. He will report to Dave Ciccolo, the CEO of the division, and will lead a team of account management and operations professionals to support the continued growth of the general factoring business.

  • SusanCarol_150x150 No Crystal Ball, but Plenty of Futurist Thinking at SFNet’s 77th Annual Convention in Phoenix
    Nov 22, 2021

    A key theme that emerged from sessions and keynotes at SFNet’s 77th Annual Conference in Phoenix, AZ, was the need to fortify and build resilience to prepare for challenges and increasing turbulence due to economic, regulatory, social and technological disruptions. And while the speakers said they appreciate more data, many recommended a greater focus on human connection that fosters trust. One independent said bluntly, “You want to look your borrower in the eye.”

    “Everyone wants a crystal ball,” said another presenter, “but no one has one.”

  • John J. Lim Joins Bank of America Business Capital Metro NYC Team
    Nov 22, 2021
    Bank of America Business Capital announced that John J. Lim has joined the Metro NYC team as a senior business development officer. Based in New York City, he will provide asset-based lending solutions and banking products to large corporate and middle market companies, intermediaries, and financial sponsors in New York City, Westchester and Connecticut.
  • Great Rock Capital Closes Credit Facility with WinCup
    Nov 18, 2021
    Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced the closing of a senior secured credit facility with WinCup, Inc., a leading manufacturer of traditional and sustainable disposable foodservice to-go ware, including phade® PHA straws.  The new capital refinanced the company’s existing senior debt and provides WinCup with additional liquidity to support their growing platform. The bespoke facility includes a revolver, a term loan, and a delayed draw term loan.
  • BetsyRatto_HilcoGlobal_150 Commercial Banking Leader Betsy Ratto Joins Hilco Global Team as Senior Vice President of Capital Solutions with responsibility to drive business for Restore Capital and Hilco Corporate Finance
    Nov 17, 2021

    Hilco Global announced today that long time Bank of America executive Betsy Ratto will join the Hilco Global team as Senior Vice President of Capital Solutions with responsibility to drive business for ReStore Capital and Hilco Corporate Finance.

    In this new role, Ms. Ratto will be responsible for originating and executing corporate finance and capital markets transactions, with focus on the retail industry and other financing transactions. Ms. Ratto will be based in Hilco’s Boston office and will work on identifying and originating lending/investment opportunities through Hilco Global’s and her own existing network of professional contacts and relationships, including investment banks, private equity firms and hedge funds.

  • iPower Enters Into $25 Million Credit Facility with JPMorgan Chase
    Nov 16, 2021
    iPower Inc. (Nasdaq:IPW) (“iPower” or the “Company”), one of the leading online hydroponic equipment suppliers and retailers in the United States, has entered into a three-year $25 million secured revolving credit facility with JPMorgan Chase Bank, N.A. The credit facility also provides an accordion feature to borrow an additional $25 million for a total of up to $50 million.
  • Andrea PetroOct17_150x150 An Interview with Andrea Petro, Board Member of Ready Capital Corporation and Consultant to Waterfall Asset Management
    Nov 15, 2021

    In this installment of our series of executive interviews, Charlie Perer sits with Andrea Petro to talk about her new role as Board Member at Ready Capital, and to share her advice to ABL managers about consolidation, competition and the current state of the market.

  • Citizens Leads $125 Million Asset-Based Revolving Credit Facility for Destination XL Group
    Nov 15, 2021
    Citizens announced today that it has led a new $125 million asset-based revolving credit facility for Destination XL Group, an omni-channel specialty retailer of big and tall men's apparel. Citizens is sole lead arranger, sole bookrunner and administrative agent.
  • Revolution Capital Acquires Grand Financial New York

    Revolution Capital, the leading provider of factoring & cashflow financing in Canada and the United States, has acquired Grand Financial New York., a factoring company specializing in staffing and transportation.

    The move expands Revolution Capital’s reach in the US market, solidifies its presence on the East Coast, and allows clients of Grand Financial New York to access faster funding, personalized service, and transparent online reporting.  

  • TSL1121_Wave_Anderson Is a Corporate Default Wave Ahead In 2022?
    Nov 11, 2021

    Some turnaround and M&A leaders are predicting the second quarter of 2022 could be when the “default boom” hits. Asset-based lenders, factors, and other secured lenders will need to be at the ready to handle turnaround deals.

  • Citizens Leads $75 Million Credit Facilities to Support Macquarie Capital’s Investment in Procentrix, Inc.
    Nov 11, 2021

    Citizens announced today that it has led $75 million in new credit facilities for Procentrix, a professional and technology services company serving U.S. federal government customers in civilian, homeland security and defense sectors. Citizens is the Left Lead Arranger and Administrative Agent.

    The new credit facilities supported an investment in Procentrix by Macquarie Capital, the corporate advisory, capital markets and principal investment arm of Macquarie Group. This investment will be used to bring more capacity and service offerings to address additional customer requests and to diversify Procentrix’s customer base.

  • Wingspire Capital Provides $40 Million Senior Secured Credit Facility to Theragenics Corporation
    Nov 10, 2021

    Wingspire Capital LLC (“Wingspire”) is pleased to announce a $40 million senior secured credit facility provided to Theragenics Corporation, a developer and manufacturer of innovative medical devices.

    The transaction included a $20 million revolving line of credit and a $20 million term loan, with the proceeds used to refinance existing debt and fund ongoing working capital and general corporate needs.