TSL Express Daily News
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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November 16, 2023
Source: Gibraltar Business Capital
Gibraltar Business Capital (“Gibraltar”) is proud to announce the closing of a $27.5MM senior secured revolving credit facility with Whitmor, Inc. (“Whitmor”), a successful fourth-generation family-owned-and-operated business founded in 1946.
Memphis-area-based Whitmor is a designer, importer, and distributor of home storage and organizational products with a global reach. The company has built a reputation as a leading brand in its industry. The company recently felt the impacts of the pandemic and complexities in the supply chain, causing ownership to seek a non-bank financing solution for greater flexibility during a transitional period. To support Whitmor’s business goals, the Gibraltar team worked with company management to develop a creative structure to maximize liquidity with a borrowing base that includes advances against accounts receivable, inventory, and inventory in transit.
“Early on in our discussions, the Gibraltar team invested the time to truly understand our business, including all the complexities, challenges, and opportunities within our industry,” said Scott Felsenthal, CEO of Whitmor. “We have always been a business that prioritizes surrounding ourselves with good people, and Gibraltar is no exception. Their dedication during this process gave us confidence that they will be a strong financial partner for the company going forward.”
“Whitmor is a great company with a storied history. We are proud to be a trusted partner to them by providing the flexible liquidity they need to continue successfully operating their business,” said Scott Winicour, CEO of Gibraltar Business Capital.
About Gibraltar Business Capital:
Chicago-based Gibraltar Business Capital is a well-capitalized, specialty finance company delivering working capital in the form of asset-based loans from $5 to $100 million. Gibraltar is an expert financial partner providing mid-market companies nationwide access to capital when needed most to solve challenges or fuel growth at any stage of the business lifecycle. With more than 70 years of experience, Gibraltar's team is trained to listen, think differently, and take unique circumstances into account. Gibraltar Business Capital is a portfolio company of multi-billion dollar specialty finance company Hercules Capital, Inc. (NYSE: HTGC). For more information, visit www.gibraltarbc.com.
