TSL Express Daily Articles & News

United Community Banks, Inc. and Three Shores Bancorporation, Inc., the Parent of Seaside National Bank & Trust, Announce Merger Agreement United Community Banks, Inc. (“UCBI”) acquires a strong commercial lender focused on relationship banking with a “branch lite” approach in key Florida metro areas. Seaside National Bank & Trust founded and led by an experienced and highly capable President and Chief Executive Officer, who will be joining the combined organization. Strategically compelling transaction, combining UCBI’s significant liquidity, low-cost funding and excess capital with Seaside’s extensive client network and growth potential.

Mr. Jacobs joined A&M Taxand from the IRS, where he served as a Senior Technician Reviewer with the IRS Office of Associate Chief Counsel (Corporate) for more than six years. In this role, Mr. Jacobs advised the office and the public on a range of complex tax matters, including share-holder issues in a corporate reorganization, liquidations and redemptions, transfers to corporations, bankruptcies, spin-offs and consolidated returns.

OnDeck® (NYSE: ONDK), the leader in online lending to small business, today announced the appointment of Mark Torossian as Senior Vice President, Finance, a newly created role that will oversee the organization's Accounting and Financial Planning & Analysis (FP&A) functions.

Horse Purchase Agreement for Going Concern Sale. Receives New $125 Million Debtor-in-Possession Loan Commitment to Support Continued Operations. Enters into “Stalking Horse” Purchase Agreement; Concurrently Company Will Commence Court-Supervised Sale Process. Business to Continue Delivering Outstanding Service to Millions of Customers Without Interruption

Equitable Bank, Canada's Challenger Bank™, is pleased to announce it acted as the sole lead arranger of a $60 million senior secured credit facility to support the recapitalization and growth of BridgePoint Financial Services Inc. (BridgePoint), Canada's leading provider of specialized loans for the legal services market with a focus on loans to individuals involved in personal injury claims and loans/credit facilities to law firms.

LITE ACCESS TECHNOLOGIES INC. (the "Company") (TSX VENTURE: LTE) (OTC PINK: LTCCF) is pleased to announce it has closed an expanded credit facility with the Royal Bank of Canada (RBC), in cooperation with Export Development Canada (EDC).

Funding Metrics, under the brands Lendini and Quickfix Capital is a merchant cash advance company that has developed a robust online platform with advances being approved with in 3 hours. Funding Metrics, LLC (the “Company”) announced today the closing of a new $100 million revolving credit facility with a multi-billion dollar institutional credit fund. The Company will use the funds to expand and accelerate the growth of its small business funding platform. Brean Capital served as exclusive financial advisor to the Company on the transaction.

The loan is secured by the company's two owner-occupied office/warehouse facilities. The company buys stock airplane part packages in bulk and sells off the individual parts or smaller packages to support the repair and maintenance of airline fleets.

Winter Harbor LLC, a national restructuring and turnaround firm, announced Rob Hubbard has joined their team as a managing director. Rob boasts more than 20 years of financial advisory, restructuring, and turnaround expertise to large and middle-market companies and their stakeholders. His experience has focused on assisting companies with stabilizing operations and determining strategic alternatives to improve business performance.

Crestmark secured a total of $10,450,000 in ABL financial solutions for five new clients; Crestmark Equipment Finance provided $15,950,106 in nine new lease transactions; Crestmark Vendor Finance provided $4,247,630 in 46 new lease transactions; and the Government Guaranteed Lending Division provided $1,680,000 in financing for one new client in the second half of February.

Ares Management Corporation (NYSE: ARES) (“Ares”) announced today that Adam Heltzer has joined as Managing Director and Head of Environmental, Social and Governance (“ESG”), effective April 1, 2020. Mr. Heltzer will be based in New York and will report to Michael Arougheti, Chief Executive Officer and President of Ares.

Ms. Salyers brings over 25 years of experience in all facets of secured lending, including field exam, underwriting, special assets management, and portfolio management. Mr. Whetstone, who is also based in Chicago, is a secured lending veteran, having over 25 years of experience across industries including consumer, factoring and asset-based lending.

MidFirst Business Credit (“MFBC”) announced it has provided $16 million in working capital and term facilities to Principal Manufacturing Corporation (“PMC”). Headquartered in Broadview, Illinois, PMC is a custom manufacturer of fine-blanking and precision stamping parts for OEMs, and Tier 1 and 2 automotive suppliers in the U.S., Mexico, Europe and Asia.

36th Street Capital announced today that it increased its expandable senior secured revolving credit facility to $170 million in addition to amending terms to a new five-year facility. San Francisco, CA-based Wells Fargo Bank has joined the syndicate with an additional $35 million participation. The credit facility includes four lenders and is led by Capital One Bank, N.A. as agent.

203 Trading LLC is a distributor of refurbished computers and electronics headquartered in Norwalk, Connecticut. The funds will be used to repay the previous lender and provide additional working capital to support the company's significant growth.

This new loan comes during a period of rapid growth for Aura in which the company has provided approximately $750MM in loans to nearly 344,000 borrowers at 1,050 partner locations since 2014. Aura uses technology that goes beyond credit scores to determine borrowers' ability to repay and enables local businesses to administer credit applications.

ABLE Equipment Rental, Inc. of NY (ABLE) a supplier of Construction Equipment Rentals, Sales, Service and Parts, announced the closing of a $150 million Asset Based Loan with M&T Bank as Lead Arranger and Administrative Agent. The facility is comprised of a $100 million revolving line of credit as well as a $15 million term loan facility.

GreatAmerica Financial Services Corporation announced today that it has submitted an application with the Federal Deposit Insurance Corporation (FDIC) and the Utah Department of Financial Institutions (UDFI) to establish GreatAmerica Bank, an industrial bank to be located in the Salt Lake City, Utah metropolitan area. The proposed GreatAmerica Bank will be a wholly-owned subsidiary of GreatAmerica, helping it expand its ability to help its customers be more successful.

Bear Creek Mining Corporation (TSXV: BCM) (BVL: BCM) ("Bear Creek" or the "Company") announces that it has engaged BNP Paribas and Société Générale as Joint Lead Arrangers (together, the "JLAs") to arrange a US$ 400 million senior secured credit facility (the "Facility"). The Facility, if concluded, will be used to develop the Company's wholly owned and fully permitted, world-class Corani silver-lead-zinc project located in the Puno region of Peru.

The bank syndication supporting the new facility is comprised of a diverse group of twelve banks led by Bank of America Merrill Lynch, Wells Fargo Securities, LLC, BNP Paribas, Capital One, Citizens Bank, HSBC Bank USA, JP Morgan Chase Bank, N.A., TD Bank, N.A., and Truist Bank, as Joint Lead Arrangers, Joint Book Runners and Co-Syndication Agents, Citibank, N.A as a Joint Lead Arranger and Documentation Agent, CoBank, ACB and People's United Bank, National Association. Bank of America, N.A. is serving as Administrative Agent.