TSL Express Daily Articles & News

SPECTRUM Commercial Services opens new sales office in Phoenix, AZ and adds new Vice President, Pamela McConlogue. Pam joins SPECTRUM Commercial Services Company (spectrumcommercial.com), bringing over 20 years of experience in commercial banking, factoring and asset based lending. Her track record of success working with commercial lenders, consultants and business owners make her an excellent fit as SPECTRUM expands into Phoenix and surrounding markets.

eCapital Corp. (“eCapital”), a leading alternative finance provider in North America and the U.K., has showcased its commitment to providing faster and more flexible payroll funding solutions to staffing companies by issuing over $53MM in new and increased facilities as of June 2022.

TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) (the “Company,” "TPVG," “we,” “us,” or “our”), the leading financing provider to venture growth stage companies backed by a select group of venture capital firms in technology and other high growth industries, today announced it has entered into an amendment to its revolving credit facility.

Envision Healthcare, a leading national medical group, today announced that it closed the first phase of a refinancing transaction with a majority of its first lien term loan lenders and, separately, consummated a refinancing transaction with its revolving lenders.

NowVertical Group Inc., a big data, analytics and vertical intelligence (“VI”) software and services company, today announced that it has completed its previously announced acquisition of 100% of the issued and outstanding securities of Resonant Analytics, LLC, a USA-based guided solutions analytics firm. Concurrent with the closing of the Acquisition, NOW secured a credit facility with US-based MVB Bank.

Commercial Finance Partners is pleased to announce the expansion of the Employee Retention Funding Program that started in late 2021. Commercial Finance has facilitated financing for over $30,000,000 of credits to date and is now expanding the program to improve upon previously constrained size limitations and underwriting timelines.

The RCF is with Canadian Imperial Bank of Commerce (Co-Lead Arranger, Joint Bookrunner and Administrative Agent), The Bank of Nova Scotia (Co-Lead Arranger and Joint Bookrunner and Syndication Agent), ING Capital LLC (Co-Lead Arranger and Joint Bookrunner), National Bank of Canada (Joint Documentation Agent), Wells Fargo Bank, N.A., Canadian Branch (Joint Documentation Agent), Citibank N.A., Bank of Montreal and Royal Bank of Canada.

Amerisource Business Capital announced the closing and funding of a $10,000,000 ABL revolver on A/R and inventory and a real estate term loan facility for a Wisconsin-based automotive, truck, and aerospace component part designer and manufacturer.

When a portfolio company of a California-based private equity firm sought to refinance and upsize its existing asset-based lending facility, the company partnered with Republic Business Credit. Republic provided a scalable, flexible and growth-orientated $5 million credit facility with full availability on retail inventory, wholesale inventory, merchant accounts and direct to consumer proceeds.

Today, The Bancorp Bank, the wholly-owned banking subsidiary of The Bancorp, Inc. (NASDAQ: TBBK), announced that the Company has hired Timothy Green as Managing Director, Head of Fintech Lending. In this new role within The Bancorp Fintech Solutions division, Green will play an instrumental part in the development and execution of the Bank’s fintech lending strategy.

CIT, a division of First Citizens Bank, is pleased to announce that Tony Cheng will now be serving as vice president, client service officer in its Commercial Services business. Cheng is based in Los Angeles and will be the primary contact for several clients in the Western Region.

SLR Equipment Finance is pleased to announce Gianna Priolo has joined as a vice president of Business Development. In her role, Gianna will help grow SLR Equipment Finance’s leasing and lending activities with equipment dealers along the east coast of the U.S where she established relationships with manufacturers and major dealers across the country. Gianna was most recently with DLL Finance.

PNC Bank has announced Brian Bucher will retire as regional president for North Florida effective Oct.7 following a distinguished 40-year career in financial services. Succeeding him will be PNC Senior Vice President of Corporate Banking and former BBVA USA executive Chris Kalin.

Squire Patton Boggs has won the ‘Turnaround of the Year Award (large)’ for its innovative work on the Ferrellgas Partners pre-packaged chapter 11 restructuring. The Turnaround Atlas Awards, presented by Global M&A Network, recognize the best value-creating transactions, outstanding firms, professionals and leaders from the global restructuring, insolvency, and distressed investing communities.

Gritstone bio, Inc. (Nasdaq: GRTS), a clinical-stage biotechnology company that aims to develop the world’s most potent vaccines, today announced it has entered into an $80 million credit facility with Hercules Capital, Inc. (NYSE: HTGC) and Silicon Valley Bank.

Comvest Credit Partners (“Comvest”), a leading provider of flexible financing solutions to middle-market companies, has acted as Administrative Agent in providing a $105 million senior secured credit facility (the “Financing”) to Fat Tuesday (or the “Company”), one of the nation’s largest off-premise specialty beverage providers. The Financing will be used to fund the Company’s strategic acquisitions and business growth.

B. Riley Financial, Inc. (NASDAQ: RILY), a diversified provider of business advisory and financial services, today announced it earned multiple awards at the 14th Annual Turnaround Atlas Awards. Presented by Global M&A Network, the Turnaround Atlas Awards recognize the best value-creating transactions, outstanding firms, professionals and leaders for their significant achievements in restructuring, insolvency, and distressed investing.

TAB Bank is pleased to announce it has provided an electric bike company in Utah with a $10 million asset-based credit facility. The new facility is extended through a multi-year agreement and will provide for the company’s ongoing working capital needs.

VoltaGrid LLC ("VoltaGrid" or the "Company") today announced that the Company has entered into a senior secured revolving credit facility (the "Facility"). The Facility provides the Company immediate access to USD 60 million, and up to USD 150 million under certain conditions. BMO Capital Markets is acting as administrative agent for the Facility.

J D Factors announced it has provided the following factoring facilities: $120,000 to a transportation company in California; $300,000 to a transportation company in Manitoba; $100,000 to a transportation company in Ontario; $350,000 to a transportation company in Illinois...