TSL Express Daily Articles & News

B. Riley Real Estate, LLC ("B. Riley”) is acting as real estate advisor to United Furniture Industries, Inc. (the “Debtor”) in connection with its Chapter 11 liquidation and has commenced the sale process for the Lane Furniture real estate portfolio on behalf of the Debtor.

Heritage Global Valuations (“HGV”), a division of Heritage Global Inc. (Nasdaq: HGBL), specializing in the valuation of commercial & industrial assets including inventories and machinery & equipment (“M&E”), announced today that Rick Wiorek, ASA, CEA has joined HGV as a Director.

Gridiron Capital, LLC (“Gridiron Capital”), an investment firm focused on partnering with founders, entrepreneurs, and management teams, is thrilled to announce the promotions of Ryan Gardner to Vice President and Jason Atwell to Tax Director.

BizCap®, a commercial finance firm established in 2002, is pleased to announce that it has secured a multi-million dollar senior debt investment supporting the hyper growth of Oakwolf Group, a top provider of Healthcare IT (HCIT) services and solutions throughout the United States.

InterNex Capital provides $1,000,000 facility to a staffing company based in New York. The company sought a broader capital solution beyond factoring, greater flexibility, and a relationship with a lending partner who understood their business and needs.

SLR Equipment Finance is pleased to announce Matt Ross has joined our company as a Senior Vice President – Head of Sales. In his position, Matt will play a key role in leading the Direct Sales Team to drive growth for equipment lessors. Matt was last with Mitsubishi MHCC Inc. and brings years of experience in direct / vendor equipment financing.

Oxford Commercial Finance (OCF), a subsidiary of Oxford Bank ("the Company"), is announcing an expanded line of flexible working capital solutions for small to medium-sized businesses, increased customer base, and new website with helpful resources for business owners.

Accord Financial Corp., one of the U.S. and Canada’s leading independent finance companies ("Accord") (TSX: ACD), is pleased to announce the closing of a $2.5 million credit facility to help a marine services company move into the wind energy space. Accord’s Asset Based Lending Group structured the facility to include a traditional revolving credit package backed by accounts receivable.

Bastion Management ("Bastion"), a private investment firm focused on asset-based lending in the specialty finance sector, announced today that it has agented a $100 million senior debt facility for NexGen Financial Inc. ("NexGen") to support the continued growth of its portfolio. Bastion Management and Hudson Cove Capital Management have provided the funding.

Cornerstone Business Credit is pleased to announce the funding of a $600,000 line of credit to a commercial nursery. Traditional bank financing was not an option due to recent losses, so they contacted Cornerstone.

Ocorian, the specialist global provider of services to financial institutions, asset managers, corporates and high net worth individuals, has appointed Tania Mohacs as Chief Commercial Officer. Tania, who joined Ocorian in 2019, is based in London and was previously Head of Regulatory, Legal and Compliance at Ocorian.

Runway Growth Finance Corp. (Nasdaq: RWAY) (“Runway Growth” or the “Company”), a leading provider of flexible capital solutions to late- and growth-stage companies seeking an alternative to raising equity, today announced the expansion of its existing revolving credit facility with an increase in aggregate commitments to $500 million from KeyBank Specialty Finance, CIBC Bank USA and other lenders.

Siena Lending Group LLC ("Siena") announces the completion of a $35 million asset-based revolving line of credit for Grove Collaborative Holdings, Inc. (“Grove”), a publicly traded company headquartered in San Francisco, California. The facility was established to support the Company’s future growth initiatives. A leading sustainable consumer products company and a Certified B Corp™, Grove creates and curates over 150 sustainable, high-performing brands primarily in the home and personal care categories.

Sam Tork has been in the business finance world for over 25 years—accumulating decades of expertise in the commercial banking and asset-based lending industry. His emphasis on people is what sets him apart as a leader.

The U.S. Small Business Administration has finalized two rules to address persistent gaps in access to capital impacting small business owners in underserved communities as part of the Biden-Harris Administration’s effort to grow the economy from the middle out and bottom-up, not top-down. The final rules grant permanence to SBA’s program for nonprofit mission lenders, remove outdated limits on non-depository lender participation, increase opportunities for employee ownership, and modernize the credit criteria and underwriting standards to further incentivize a wider distribution network and small-dollar loans.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and over $6 billion in assets, today announced that its Asset-Based Lending team (ABL) provided a senior credit facility to BFC Solutions (BFC), a national provider of commercial HVAC and refrigeration filter replacement and related routine preventative maintenance services.

Maxim Commercial Capital (“Maxim”) reported exceptionally strong year-over-year growth during the first quarter of 2023. The private finance company closed nearly three times more truck financing transactions during the period than in 2022, and helped numerous business owners replace expensive MCA loans with creatively structured, lower cost term loans.

GBC has carved a name for itself as the preferred ABL partner of private equity by delivering fast and flexible asset-based lines of credit to sponsor-backed companies who need it most—helping portfolio companies grow.

Sallyport Commercial Finance is delighted to announce $1 million in accounts receivable finance for a business providing services to the renewable energy industry. The client has been operating a successful business in the UK and recently opened a US company to serve a larger market.

Global law firm Norton Rose Fulbright added six partners today to significantly strengthen its US offering in two of the firm’s key sectors: Financial Institutions (including Insurance) and Technology.