TSL Express Daily Articles & News

Central Florida-based bank, Axiom Bank, N.A., has named Tony Lee and TC Wilde to their asset-based lending (ABL) division headquartered in Dallas. Both Lee and Wilde will hold the title of Senior Vice President, Senior Portfolio Manager/Senior Account Manager.

B. Riley Securities, Inc., a leading full-service investment bank, is pleased to announce it served as financial advisor in the successful recapitalization of Florida Retina Institute ("FRI"), the largest independent vitreoretinal services provider in Florida, by Retina Consultants of America ("RCA"), a comprehensive physician management services organization.

Sallyport Commercial Finance, LLC is thrilled to announce the promotion of Olivia Hudson to senior account executive. As account executive over the last four years, Olivia has been an integral part of Sallyport’s growth and success by developing and managing relationships with her US & Canadian clients.

Geneva-based energy trader Gunvor Group on Wednesday said it has closed a 570 million euro ($597.65 million) loan facility for natural gas storage in Europe. The credit arrangement has been supported by eight banks, enabling the arrangement to expand to cover eight eligible natural gas storage locations, up from three, the company said.

ommercial Chapter 11 filings increased 74 percent to 345 in November 2022 from the 198 filings recorded in November 2021, according to data provided by Epiq's Bankruptcy Analytics platform. The November 2022 commercial Chapter 11 filing total was lifted by the more than 100 cases related to the Chapter 11 filing on November 11 by crypto exchange FTX Trading, Ltd. Total commercial filings increased 17 percent to 1,848 in November over 1,586 total filings in November 2021. Subchapter V small business filings increased 38 percent to 117 in November 2022 from 85 filings in November 2021.

Guanajuato Silver Company Ltd. (the "Company" or "GSilver") (TSXV:GSVR)(AQUIS:GSVR)(OTCQX:GSVRF) is pleased to announce that it has signed a new concentrate and pre-payment credit facility with Ocean Partners (UK) Limited ("Ocean Partners"), a UK based metals offtake and trading firm, to provide a US$5.0M revolving credit facility (the "New Facility") for operating and working capital purposes.

Evolus, Inc. (NASDAQ: EOLS), a performance beauty company with a customer-centric approach focused on delivering breakthrough products, today announced it has extended the expiration date of the second undrawn tranche under its existing term loan financing facility with investment funds managed by Pharmakon Advisors, LP to December 31, 2023.

Trinity Capital Inc. (NASDAQ: TRIN, TRINL) ("Trinity" or the "Company"), a leading provider of diversified financial solutions to growth-stage companies, today announced that it entered into an agreement (the "JV Agreement") to co-manage a newly formed joint venture, i40, LLC (the "JV"), with certain funds and accounts managed by a specialist credit manager with over $5 billion of assets under management. The JV will invest in loans and equipment financings to growth-stage companies that have been originated by Trinity.

Regions Bank on Wednesday announced the creation of a Franchise Lending team led by industry veteran Peter Salas. A key part of Regions’ services designed to support small-business growth, Salas and his team are focused on helping drive business sustainability and expansion through their specialization in franchise concepts.

Avant, LLC, a credit-first financial technology company* that provides access to innovative financial solutions to underserved non-prime consumers (“Avant”), today announced it secured $250 million of corporate debt and redeemable preferred equity from Ares Management Alternative Credit funds (“Ares”).

Sweet Leaf Madison Capital (SLMC), a nationwide provider of tailored debt financing solutions for the middle-market compliant cannabis industry, has just added Baker Perkins to its Preferred Vendor Program. Baker Perkins is a leading food processing equipment supplier providing technology integral to food manufacturers across the bakery, confectionery, food extrusion, breakfast cereal, pet food and biscuit, cookie, and cracker sectors.

Curve, the fast-growing financial super app, today announced that the company has closed a deal to fund its first $1 billion in loans with a facility provided by Credit Suisse, enabling Curve to scale its lending business, Curve Flex, across the UK, the EU and the United States.

J D Factors announced it has provided the following factoring facilities: $75,000 to an electrical distribution company in Quebec; $300,000 to a transportation company in New York; $250,000 to a transportation company in Ohio; $250,000 to a transportation company in Ontario; $250,000 to a transportation company in Nebraska.

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and $6 billion in assets, today announced it is the lead bank in a $93 million construction loan to support the Innes Redevelopment Project, with the development of two new multi-purpose buildings in Chelsea, MA. The project is being led by co-developers John M. Corcoran & Company and Joseph J. Corcoran Company, in partnership with real estate private equity firm Marcus Partners.

SLR Business Credit is pleased to announce the addition of Gene Hays as vice president, field examiner. Hays has 20 years of Asset Based Lending experience as an account executive and field examiner, most recently with Celtic Capital. Hayes will be based out of the Sherman Oaks, CA office.

Kuber Mortgage Investment Corporation ("Kuber" or the "Company") is pleased to announce an increase to its revolving credit facility (the "Credit Facility") from $40 million to $80 million, effective November 23, 2022. The term of the facility has also been extended for an additional 2 years. This new credit facility now includes an additional Schedule I bank. Kuber is excited to welcome a 2nd Schedule I partner to its lending syndicate.

EisnerAmper was named an “Outstanding Turnaround Firm” by Turnarounds & Workouts, a monthly newsletter that tracks distressed business news throughout the country and has been serving corporate restructuring professionals since 1987.

400 Capital Management, an alternative credit asset manager specializing in structured credit with over $5.7 billion of capital under management, announced the final close of its Asset Based Term Fund III (“ABTF III”). The fund, launched in July 2021, drew $580 million of committed capital from institutional investors attracted to the firm’s demonstrated expertise in maximizing value through innovative asset-based private debt strategies, in particular as broad market volatility has upended more traditional strategies.

Newtek Business Services Corp. (NASDAQ: NEWT) today announced that its new joint venture, Newtek-TSO II Conventional Credit Partners, LP, has closed a $150 million leverage facility from a well-known investment bank to be used to fund the acquisition of non-conforming conventional loans made to middle-market companies as well as small businesses. In addition, Newtek’s portfolio company Newtek Business Lending, LLC, has entered into amendments and extensions of two credit lines with two financing providers for $110 million in total, to fund, among other things, SBA 504 loans.

CIT, a division of First Citizens Bank, today announced that its Power and Energy business served as co-coordinating lead arranger on an $85 million construction-to-term debt financing for NineDot Energy LLC (“NineDot Energy”), a leading developer of distributed community energy projects in the New York City metro region.