TSL Express Daily Articles & News

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"), 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.

5 Star Apparel, which styles and manufactures many of the best-known names in fashion, announced a new $125 million credit facility to support its existing operations and continued expansion. IDB Bank was the lead agent and one of three banks financing the credit facility.

Tiger Group is liquidating equipment from well-known movie chain Pacific Theatres, which operated theaters across the United States before filing for Chapter 7 bankruptcy in the wake of Covid-19 lockdowns. Bidding in the timed, online auction opens on Tuesday, February 15, at 10:30 a.m. and closes on Tuesday, February 22, at 10:30 a.m. (PT).

Wingspire Capital LLC (“Wingspire”) provided a senior secured credit facility to AvAir, LLC, (“AvAir”) a global supplier of aftermarket parts for commercial passenger and cargo aircraft. Since its inception in 2000, Arizona-based AvAir has developed a reputation as a nimble, knowledgeable and trusted provider of a broad variety of aircraft parts and components. The company used the proceeds to refinance an existing bank facility and for ongoing working capital needs.

KTC King Trade Capital (“KTC”) is pleased to announce the completion of a $3,000,000 purchase order finance facility for a Pennsylvania-based housewares and party supply company. The company contacted King Trade Capital after being introduced to them by their bank a few years ago. Over the past two years, the company expanded into other industries such as medical supplies and needed additional capital to support the growth of the company’s core business, housewares, and party supplies.

Northpoint Commercial Finance ("Northpoint"), a North American diversified financial services company, provided a $9.5 million senior secured revolving line of credit to support the acquisition of a food processor and distributor (the "Company") by a lower middle-market focused private equity firm.

Winston & Strawn represented Vistas Media Acquisition Company Inc. (NASDAQ: VMAC, VMACU and VMACW) ("VMAC"), a special purpose acquisition company, in connection with its business combination with Anghami Inc. ("Anghami"), the first legal music streaming platform and digital distribution company in the Arab world.

Gridiron Capital, LLC (“Gridiron Capital”), an investment firm focused on partnering with founders, entrepreneurs, and management teams is pleased to announce that its portfolio company, Foundation Wellness, manufacturer of aftermarket insoles, supplying footwear and foot care products to multiple companies and leading brands, has acquired Doctor Hoy’s Natural Pain Relief (“Doctor Hoy’s” or the “Company”).

The Company had recently secured a new license with exclusive distribution rights to the Canadian market. Shortly thereafter they landed a seasonal program with a major wholesaler for distribution in all doors throughout Canada. Despite their existing line of credit in place with a large Canadian bank, the size of the program required additional capital to support production with the licensors overseas supplier

SMART Global Holdings, Inc. ("SGH" or the "Company") (NASDAQ: SGH) today announced that it has completed refinancing transactions via a $275 million Term Loan A Facility and a $250 million undrawn Revolving Credit Facility (collectively, the “Credit Facilities”).