TSL Express Daily Articles & News

Commercial Finance Partners is pleased to announce the closing of 6 new SBA 7a facilities in 2021. With additional benefits being presented by the SBA, Commercial Finance Partners has seen an uptick in volume for business looking to refinance debt, engage in an acquisition or buyout, purchase real estate, and other capital expenditures.

New York State has extended the effective date of its new financial disclosure legislation to January 22, 2022 and increased the transaction cap to include lenders making annual advances to borrowers of $2,500,000 or less.

Freeport Financial Partners, LLC (“Freeport”), a U.S. lower middle market direct lending manager, today announced the appointments of James Colletti and Ryan VanDagens as Associates, responsible for sourcing, structuring, and managing middle-market debt investments for the Freeport loan funds. Both Mr. Colletti and Mr. VanDagens are based in Chicago.

First Trust Advisors L.P. (“First Trust”), a leading exchange-traded fund (“ETF”) provider and asset manager, announced today that it has launched a new actively managed ETF, the First Trust TCW Emerging Market Debt ETF (NYSE Arca: EFIX) (the “fund”). The fund seeks to provide high total return from current income and capital appreciation by investing in emerging market debt. The portfolio is sub-advised and managed by TCW Investment Management Company LLC (“TCW”).

BIZCAP® (Business Capital since 2002) secured a $15MM multi-tranche credit facility for the largest trader, processor and distributor of high quality garbanzo bean (chickpea) products in the U.S. Capitalizing on the surging hummus market, the company was able to quickly grow from a small family owned operation to the leader in this market processing over 98 million pounds of product at its three production plants. The beans are bagged and shipped to all 50 states and 6 continents, to small family owned companies and international food suppliers.

TCF’s Middle Market team has been named a winner of the 2020 Greenwich Excellence Award for U.S. Middle Market Banking in two regional categories: Cash Management - Overall Satisfaction (Midwest) and Likelihood to Recommend (Midwest)

Arlington Capital Partners (“Arlington”), a leading middle market private equity firm, today announced a passive, non-voting, minority equity investment by Goldman Sachs Asset Management’s (“GSAM”) Petershill program, creating a strategic relationship with one of the world’s leading investment managers and accelerating Arlington’s growth and success.

Scoggin previously served as Vice President of Business Development at Goodman Capital Finance. Her role entailed negotiating favorable financing proposals for new business prospects, offering lending options to achieve profitability objectives for the company and maintaining client relations.

Stifel Financial (NYSE: SF) today announced an agreement to acquire the future business of North Atlantic Capital Corporation, based in Portland, Maine. The acquisition further positions Stifel as an active manager of small business investment corporations (“SBIC”) and of venture capital (“VC”) funds. In addition to the acquisition, Stifel has made a financial commitment to invest in the next North Atlantic SBIC. North Atlantic has been re-branded North Atlantic Capital – a Stifel Company.

Topaz Energy Corp. (TSX: TPZ) ("Topaz" or the "Company") is pleased to announce that it has entered into an amended and restated credit agreement with a syndicate of Canadian banks providing for a $300 million combined operating and syndicated credit facility due February 19, 2024 ("Amended Credit Facility").

New York State has extended the effective date of its new financial disclosure legislation to January 1, 2022 and increased the transaction cap to include lenders making annual advances to borrowers of $2,500,000 or less.

North Mill Equipment Finance LLC (“North Mill”), a leading independent commercial equipment lessor located in Norwalk, Connecticut, announced today the promotion of Mark Bonanno to President, Chief Operating Officer effective immediately. Bonanno, a CPA, joined the company as the firm’s Chief Financial Officer in September 2016 and was promoted to Chief Operating Officer in August 2018.

Israel Discount Bank of New York (IDB Bank) has selected Wolters Kluwer Compliance Solutions’ Deposit E-Forms Module (DEMx) Expansion Pack to help streamline and enhance the management of its document disclosure practices. Providing disclosures is a required and critical function of U.S. banks and credit unions as part of the account opening and servicing process. The Wolters Kluwer DEMx offering allows financial organizations to streamline their documentation processes, help ensure compliance with all regulatory requirements, maximize internal resources, and reduce turnaround times.

M&T Bank Corp. is buying People’s United Financial Inc. in an all-stock deal valued at about $7.6 billion. Branches of the two regional banks are sprinkled throughout the Northeast and mid-Atlantic.

Even though capital markets are opening up, U.S. retailers will continue to file for bankruptcy and close stores this year, due in part to their need to repay deferred rent from 2020, warned Andy Graiser, Co-President of A&G Real Estate Partners (A&G), in a conference call hosted by Jefferies, the investment bank and financial services company. Declining foot traffic only adds to that pressure, added the veteran real estate executive, and it is unclear whether mall traffic will bounce back anytime soon.

Citizens today announced that Peter Ulmer will join the bank’s Transitional Finance team as a Managing Director. He will report to Brent Hazzard, head of the Transitional Finance and ABL Group. A 20-year Wells Fargo veteran, Ulmer has extensive experience serving as a trusted strategic and financial partner to corporate clients throughout their business life cycle.

Capital Group, home of American Funds and one of the world’s largest investment management firms, announced today that Reggie Hedgebeth has joined as Chief Legal Officer. Hedgebeth replaces Jim Ryan, who is retiring after 27 years with the firm. Hedgebeth most recently served as executive vice president, general counsel and chief administrative officer for Marathon Oil Corporation. Hedgebeth previously served as general counsel, corporate secretary and chief compliance officer for Spectra Energy Corporation and general counsel for Spectra Energy Partners.

LBC Credit Partners (“LBC”), one of the leading providers of financing solutions to middle market companies, provided a senior secured credit facility to support the acquisitions of Diversified Air Systems (“DAS”) and Swanson Flo, Co. (“Swanson Flo”), by Motion & Control Enterprises (“MCE”), a portfolio company of Frontenac. LBC served as Agent for the senior secured credit facility.

LQD Business Finance, a leading tech-enabled alternative lender, launches the development of the world’s first Bitcoin business lending platform. This cutting-edge platform will make LQD Business Finance the first company to use Bitcoin as currency for commercial loans.

Tiger Group’s Commercial & Industrial (C&I) Division posted record sales of pro-grade audiovisual equipment in 2020, due in part to the need for live-event production companies to liquidate excess and underutilized gear as a result of business challenges created by Covid-19.