TSL Express Daily Articles & News

MidCap Business Credit LLC announces today that it has formed a new entity MidCap Equipment Finance LLC and has retained a team of seasoned investment professionals to begin offering equipment loans and leases to middle market companies in the US and Canada. This new product offering will be complementary to MidCap’s existing business which has been providing working capital loans since 2004.

Pyxus International, Inc. (OTC Pink: PYYX) ("Pyxus" or the "Company"), a global value-added agricultural company, is pleased to announce it has entered into a $100 million asset-based lending (ABL) credit facility with PNC Bank effective February 8, 2022. The agreement with PNC replaces the Company's preexisting $75 million ABL credit facility, which was due to mature in February 2023.

Liquidity Services (Nasdaq: LQDT), a leading global commerce company powering the circular economy, today announced it entered into a new credit facility with Wells Fargo Bank that provides revolving loans up to a maximum aggregate principal amount of $25,000,000 with a $10,000,000 sublimit for standby letters of credit. The Credit Agreement will expire on March 31, 2024.

Loeb, an industry leader in the lifecycle management of industrial manufacturing equipment and machinery, continues to fortify its team to better assist its clients, customers, and referral partners with the hiring of Scot Lund (Senior Vice President), Chad Doucette (Asset Evaluator), and Barry Orlov (Loan Specialist).

Michael Doyle, Vice President – Asset-Based Lending at First Business Specialty Finance, LLC, a subsidiary of First Business Bank, announces a recently closed and funded $6 million revolving credit facility, equipment term loan, and Capex line for a beverage manufacturer seeking acquisition financing.

CIT, a division of First Citizens Bank, today announced that its Real Estate Finance business provided financing for the acquisition of the Morada Plano Apartments in Plano, Texas. Built in 2019 and 2020, the Morada Plano Apartments is a 183-unit multifamily residential development located in a high-growth market in close proximity to major employers, transportation corridors and services.

Beacon Pointe Advisors ("Beacon Pointe") announced its latest partnership with Altavista Wealth Management ("Altavista") with offices based in Asheville and Charlotte, North Carolina. With over $700M in assets under management, Altavista is Beacon Pointe's third partnership in the Carolinas in the past 14-months.

CNB Financial Corp. said its President and Chief Executive Joseph Bower would retire at the end of the year, and he would be succeeded by the chief operating officer of CNB Bank, Michael Peduzzi.

The Harbor Bank of Maryland today announced a partnership with Cerebro Capital, a commercial loan marketplace, to provide $50 million in loans to small businesses within the Baltimore Washington metro region. The program, which will offer loans as large as $2 million, is focused on increasing access to capital for minority-owned businesses, who traditionally have been underserved by the commercial credit market.

Runway Growth Capital LLC ("Runway" or the "Company"), a leading provider of growth loans to both venture and non-venture backed companies seeking an alternative to raising equity, today announced that it has hired Rachel Goldstein as Senior Vice President of Growth to improve the quantity and quality of deal flow. She will report to Mark Donnelly, Managing Director and Head of Origination at Runway.

Runway Growth Capital LLC ("Runway"), a leading provider of growth loans to both venture and non-venture backed companies seeking an alternative to raising equity, today announced the close of a senior secured term loan commitment of $30 million to EPIC IO Technologies, a global leader in solving Big Data challenges in multiple markets, by leveraging Artificial Intelligence, Internet of Things, and 4G/5G wireless connectivity through its open and vendor-agnostic platform, DeepInsights™.

Caprice Capital Partners is pleased to announce the addition of Robert Choi as Vice President. Robert joins Caprice to source, execute and assist in the management of investments. Robert was previously a Senior Associate at Breakwater Management and brings more than a decade of experience to Caprice.

Kapitus, one of the largest and most reliable providers of small business financing, today announced the closing of a $200 million asset-backed securitization (ABS). This new financing positions Kapitus for continued growth following a banner year in 2021, which saw the company’s highest funding volume in its 16-year history as the company continued to support and fund small businesses during the pandemic.

Harbor, a U.S. based fintech company that is reinventing international trade finance, recently announced an expansion of its operations to Mexico. Harbor Mexico is being launched in conjunction with KC2, a Kampala Capital Company based in Monterrey. Harbor provides its network partners with a tech-powered platform to offer trade finance products in their respective markets.

Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending and purchase order financing firm in the United States, today announced the completion of a recent $11.5 million purchase order finance facility to support the production financing requirements of a Florida-based branded apparel company.

LSQ, a leading provider of working capital financing and payments solutions, recently originated a $30 million credit facility for a security staffing and high-tech security technology company that serves clients across the United States.

SLR Business Credit announced it provided a $1 million accounts receivable credit facility to PowerSpike, Inc. The funds were used to provide additional working capital for the company.

A&G Real Estate Partners’ portfolio optimization of gift and stationery retailer Paper Source earned it a share of the “Distressed M&A Deal of the Year-Middle Markets” award at Global M&A Network’s 13th Annual Turnaround Atlas Awards Ceremony. The awards committee also recognized SSG Capital Advisors, investment banker on the Paper Source deal, and Carl Marks Advisors, financial advisor to the secured lender.

Quorum Information Technologies Inc. (QIS:TSXV) (“Quorum” or the “Company”), a SaaS software and services company that provides essential software that vehicle dealerships rely on for operations throughout North America, today announced a highly favourable restructuring of its credit with BDC Capital Inc. (“BDC Capital”).

GBank Financial Holdings Inc. ("GBank" or the "Company") (OTCQX: GBFH), the parent company for Bank of George (the "Bank"), today announced the addition of their new Senior Vice President/National Sales Manager for Bank of George, George D. Andreaus.