TSL Express Daily Articles & News

SG Credit Partners ("SGCP") now offers an interest only bridge loan product designed to provide a liquidity solution for asset rich, liquidity constrained entrepreneurs when speed and certainty to close are required. We call it the "Personal Financial Statement (PFS) Loan."

Scott brings to his role extensive bankruptcy, reorganization, and commercial litigation experience, representing financial institutions, financial services companies, and secured and unsecured creditors. He will provide counsel and representation to Change Capital in these areas as well all legal matters.

Top U.S. milk processor Dean Foods Co. filed for Chapter 11 bankruptcy and is in advanced talks with Dairy Farmers of America Inc. about a potential sale. Dean listed assets and liabilities of as much as $10 billion each in court papers filed in Houston, and said in a statement it has commitments for $850 million in bankruptcy financing from existing lenders led by Rabobank.

Ferrellgas, L.P., the operating partnership of Ferrellgas Partners, L.P. (NYSE:FGP) (“Ferrellgas”) announced today that it reached an agreement with TPG Specialty Lending, Inc., the administrative agent (“TPG”) under its senior secured credit facility regarding alleged events of default that occurred under the credit facility.

Austin Financial Services, Inc. (AFS) is pleased to announce the closing of a $3MM ABL credit facility to a telecommunications company who specializes in the design, component procurement, installation, and training for specialized IT electronics systems servicing end-user markets in the western U.S.

Big Shoulders Capital and Iroquois Industrial Group have formed a joint venture to purchase the assets of Savannah All American Millwork and Fabrication in Savannah, Tennessee. The purchase will save approximately 100 jobs which may have otherwise have been eliminated.

Fifth Third Business Capital, a division of Fifth Third Bank, announced it acted as sole lender and administrative agent on the funding of an $8,000,000 senior credit facility to Troy Lee Designs, LLC. Based in Corona, California, Troy Lee Designs is a designer and distributor of high-quality helmets, apparel, safety gear and accessories used in the off-road motorcycling and mountain biking industries.

Encina Business Credit, LLC (EBC) announced today that it has provided a $15 million commitment as part of a $135 million senior secured credit facility to a coal mining company. The company operates transloading and mining equipment facilities. The loan consists of a revolving line of credit secured by trade accounts receivable and inventory.

Southwest Corporation (“Capital Southwest”) (CSWC), an internally managed business development company focused on providing flexible financing solutions to support the acquisition and growth of middle market businesses, announced today that it supported the recent recapitalization of GrammaTech, Inc. (“GrammaTech”) by Five Points Capital, Pleasant Bay Capital, Crescendo Capital, new CEO Mike Dager, and existing management.

MedShift today announced the execution of a new $13.5 million credit facility with First National Bank (FNB). The investment will refinance all existing company loans and provide device acquisition capital to support MedShift's projected growth.

City National Bank, America’s Premier Private and Business Bank®, today announced that Rick Hariman will join the company as executive vice president and chief information officer. Hariman will succeed John Beale, the current chief information officer, who has decided to retire in January after 23 years with City National.

KeyBanc Capital Markets Inc., BMO Capital Markets, and Capital One, National Association served as joint-lead arrangers for the Facility with KeyBank National Association as administrative agent and BMO Capital Markets and Capital One, National Association as syndication agents. Branch Banking and Trust Company served as documentation agent.

UMB Capital Finance, through Marquette Business Credit, LLC, continues to fund millions in senior debt capital needs with the recent closings of two asset-based credit facilities. These new, secured lines provide further financing resources for Midwest Quality Gloves, Inc. and TJ Hale Company, LLC.

Monroe Capital Corporation (Nasdaq: MRCC) (“Monroe”) today announced its financial results for the third quarter ended September 30, 2019.

Electrovaya Inc. ("Electrovaya" or the "Company") (EFL.TO) (EFLVF) today announced that it has closed an agreement with a Canadian financial institution for a secured Cdn $5.5 million credit facility. The facility will support fulfilment of Electrovaya's recently announced purchase orders.

The Brownstein Corporation is pleased to announce that its CEO, Howard Brod Brownstein, has been named a Fellow of the American Bar Foundation. The Fellows of the American Bar Foundation (ABF) comprise a global honorary society of lawyers, judges, law faculty, and legal scholars who have demonstrated outstanding leadership in the profession and service to society.

Stonebriar Commercial Finance (“Stonebriar”), a leading independent large-ticket commercial finance company, announced that it has closed its sixth commercial equipment asset-backed securitization (“ABS”), SCFET 2019-2, a $685 million ABS issuance with top tranches rated triple A.

Lake City Bank is pleased to announce that it has promoted Stephanie R. Leniski to Senior Vice President, Retail Banking Manager, a position in which she leads the Retail division for Lake City Bank, and joins the bank’s Management Committee. Leniski succeeds Kevin L. Deardorff, Executive Vice President, who has led the Retail Banking business since 1990.