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The Secured Lender
SFNet's The 81st Annual Convention Issue
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Top 5 Apps for Organizing
Mar 7, 2019If you’re like most of us, we try to stay organized in business and life, but it gets increasingly complicated…
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The Importance of Stretching
Mar 7, 2019Every personal trainer and athletic coach I have ever worked with has stressed the importance of stretching. When working out…
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SFNet's 40 Under 40 Award Winners Panel Recap
Mar 6, 2019Moderator: Samantha Alexander, regional underwriting manager, Wells Fargo Capital Finance’s Corporate Asset Based Lending group and 2016 CFA 40 Under…
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SFNet's Inaugural YoPro Leadership Summit
Mar 6, 2019The Secured Finance Network brought together the next generation of commercial finance leaders for a full day of learning and…
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It’s a Marathon, Not a Sprint
Aug 22, 2018I was recently invited to participate in an executive panel to answer questions from a credit training class comprised of...
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It’s Not Too Late – Five Member Benefits to Cash In On Now
Aug 1, 2018As we hit the half way mark on calendar year 2018, it is a good time to take stock and…
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It’s Time To Break Up With Your Phone
Jul 18, 2018Do I have your attention? Let’s be honest here: do you have the attention span to read this article? Compared…
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Lien Management – What You Need to Know
Jun 6, 2018UCC filing is the cornerstone of all loans and every lien portfolio...
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Potential Impacts of Blockchain on Commercial Lending
Jan 15, 2018By Raja Sengupta, Executive Vice President and General Manager, Wolters Kluwer’s Lien Solutions When it comes to the rising importance…
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How to be a Good Leader
Dec 5, 2017I know what you’re thinking…another article about how to be a good leader? The short answer is yes…but this time,…
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Fintech and Due Diligence – Disruptors and Established Firms Evolve
Oct 30, 2017The fintech sector has gone through a number of manifestations in the past two decades.
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A Commercial Banker’s Tickler Transition Plan
Oct 18, 2017Just do a keyword search for “bank tickler,” and you’ll quickly realize that banks are still heavily reliant on manual…
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Understanding and Developing Your Personal Brand: Four Steps to a More Intentional Career Progression
Sep 5, 2017It is imperative for individuals to have a general idea about their future career aspirations, just as companies should have clearly defined strategies.
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Selecting a Technology Vendor: 3 Questions to Ask
Jul 5, 2017As with anything else at your bank, selecting a technology vendor can be a challenging decision. Users from across different…
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Why Back-Office Lending Automation Enhances Customer Satisfaction
Apr 25, 2017Every bank strives to keep its customers happy. Of course, some institutions are better at achieving this goal than…
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The Lost Art of the Loan Purchase
Mar 2, 2017Purchasing a loan directly from a bank whether at par or discount is a not-often-used technique that is easily…
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Audit Prep: Why a Paperless Approach Makes Sense
Feb 15, 2017How much time does your financial institution spend preparing for audits? We recently surveyed 187 community banks, and the results…
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Back Office Support Services: Helping you approve more clients
Feb 7, 2017How many times have you come across a potential client who’s financials are either not up to date, not accurate,…
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“All Assets” is the Key When Drafting UCC-1 Financing Statement Collateral Descriptions
Jan 30, 2017Even when prepared by outside or in-house counsel, many lenders pay close attention to draft UCC financing statements before they…
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Paper Loan Files: Does Your Bank Know the True Cost?
Jan 12, 2017Sure, there’s a tangible cost associated with deploying an electronic loan imaging system. Software, support, and scanning hardware are just…
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July 26, 2023
Source: PR Newswire
Revolving Asset Backed Facility Supports Future Portfolio Growth
STAMFORD, Conn., July 25, 2023 /PRNewswire/ -- Bastion Management ("Bastion"), a private investment firm focused on asset-based lending in the specialty finance sector, announced today that it agented a senior debt investment of $40 million with accordions up to $100 million in Okinus Inc. ("Okinus") to refinance the existing senior lender and fund future growth of their lease-to-own portfolio.
Okinus provides financing solutions for a wide range of products, including furniture, appliances, electronics, jewelry, and HVAC equipment. They work closely with their extensive network of approximately 1,000 third-party retailers, enabling customers to access financing options through both in-store and online transactions.
"We are thrilled to have secured this line of credit, which not only validates our vision and potential but also provides us with a strong foundation to execute our growth strategies," said Gary Allen, CEO of Okinus. "This investment will enable us to accelerate our expansion plans, reach new markets, and provide even more flexible and accessible options for our valued customers."
Jay Braden, CEO of Bastion, added, "We are excited about our partnership with Gary and the Okinus management team as they continue their mission of delivering innovative financial solutions that meet the diverse needs of consumers. This Facility will enable Okinus to further expand its reach, enhance its product offerings, and enable it to serve a wider customer base."
About Bastion Management
Bastion is a private investment firm that provides creative financing solutions to small and midsized businesses operating in the alternative finance space throughout North America and in the UK. A decade since its inception, Bastion now has closed over 40 transactions and over $1.1bn in total commitments to traditional consumer lending platforms and emerging companies in the financial technology industry. Bastion has a successful track record partnering with companies that have strong management teams and committed equity backing in support of the initial growth stage through to public listing.
About Okinus
Based in Pelham, GA, Okinus offers point-of-sale financing for a wide range of retail consumer products via installment lease-to-own ("LTO") agreements.
STAMFORD, Conn., July 25, 2023 /PRNewswire/ -- Bastion Management ("Bastion"), a private investment firm focused on asset-based lending in the specialty finance sector, announced today that it agented a senior debt investment of $40 million with accordions up to $100 million in Okinus Inc. ("Okinus") to refinance the existing senior lender and fund future growth of their lease-to-own portfolio.
Okinus provides financing solutions for a wide range of products, including furniture, appliances, electronics, jewelry, and HVAC equipment. They work closely with their extensive network of approximately 1,000 third-party retailers, enabling customers to access financing options through both in-store and online transactions.
"We are thrilled to have secured this line of credit, which not only validates our vision and potential but also provides us with a strong foundation to execute our growth strategies," said Gary Allen, CEO of Okinus. "This investment will enable us to accelerate our expansion plans, reach new markets, and provide even more flexible and accessible options for our valued customers."
Jay Braden, CEO of Bastion, added, "We are excited about our partnership with Gary and the Okinus management team as they continue their mission of delivering innovative financial solutions that meet the diverse needs of consumers. This Facility will enable Okinus to further expand its reach, enhance its product offerings, and enable it to serve a wider customer base."
About Bastion Management
Bastion is a private investment firm that provides creative financing solutions to small and midsized businesses operating in the alternative finance space throughout North America and in the UK. A decade since its inception, Bastion now has closed over 40 transactions and over $1.1bn in total commitments to traditional consumer lending platforms and emerging companies in the financial technology industry. Bastion has a successful track record partnering with companies that have strong management teams and committed equity backing in support of the initial growth stage through to public listing.
About Okinus
Based in Pelham, GA, Okinus offers point-of-sale financing for a wide range of retail consumer products via installment lease-to-own ("LTO") agreements.
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