Articles

Axiom Bank, N.A., a Maitland-based, leading community bank, recently appointed Dan Karas as EVP of Allied Affiliated Funding, the Bank’s factoring and asset-based lending division.  In this role, Karas will be responsible for guiding the division and driving its initiatives toward continuing growth.

Karas’ commercial lending expertise spans nearly four decades with national and regional banks. In his most recent role at a Dallas-based community bank, Karas helped create its commercial finance businesses and expand its commercial lending platforms and grew profitability.

MIDCAP FINANCIAL today announced that it has successfully closed the acquisition of substantially all of PNC Bank's Franchise Finance loan portfolio. In conjunction with the acquisition, six members of the Franchise Finance business have joined MidCap Financial including Bernard Lajeunesse, former Senior Vice President and General Manager of PNC Franchise Finance, who will be leading the new initiative.

At a meeting of its Executive Committee in June, SFNet put forward a plan to establish two new standing committees. The first would seek to understand and address issues of diversity, equality and inclusion as they affect the SFNet Community. The second would focus on the proliferation of international secured finance. The formation of the new committees, which would hold seats on SFNet’s Executive Committee, will be presented for approval to SFNet Member Directors along with the overall recommended slate of 2021 Fiscal Year Executive and Management Committee candidates later this month.

Nneoma Maduike, member of SFNet’s Diversity, Equity & Inclusiveness Committee interviews Anthony C. Hood, PhD, executive vice president and chief diversity, equity and inclusion officer of First Horizon National Corp. Dr. Hood is responsible for cultivating and expanding First Horizon’s strategic leadership in developing and implementing programs and initiatives that advance the Company’s Diversity, Equity and Inclusion (DEI) efforts.

Richard Hawkins, CEO of Atlantic RMS, considers the implications of the UK government's latest announcement and its impact on asset-based lending to UK business.

Screen shots of the various First Place Teams from the Go Game festivities held on October 27. Attendees had a great time competing in trivia and lip syncing competitions.

New Fortress Energy LLC (NASDAQ: NFE) ("New Fortress" or the "Company") announced today that it has executed a fully committed $800 million term loan facility (the "Term Loan Facility") provided by certain funds and accounts managed by affiliates of Apollo Global Management, Inc. (together with its consolidated subsidiaries, "Apollo") (NYSE: APO).

The credit facility has an accordion feature, which allows the Company to increase the size of the credit facility to up to $500 million. On the closing date, the Company drew down $215 million of notes from the credit facility.

XL Funding provides floorplan loans to auto dealers in more than a dozen markets, and will use the funding to refinance a previous bank loan and extend capital to more small and medium-sized dealers in populous states including California, Texas and Florida.

Wingspire was attracted to XL Funding’s position of strength as consumers pursue affordable pre-owned automobiles amid the uncertain economy and a desire for “private” transportation during the coronavirus pandemic.

More than a week after Congress approved the largest fiscal stimulus in U.S. history, many companies still don't know if it will provide the financial lifeline they need to stay afloat.

Since the legislation passed on March 27, industry groups have been pressing policymakers to ensure a large chunk of their firms can actually benefit from a major lending program at the heart of the new law. Under the CARES Act, the Treasury is getting $454 billion in funds to provide credit protection for the Fed's emergency lending operations, a backstop expected to lead to about $4.5 trillion in Fed lending.

The Innovation Finance Group will focus on providing a full suite of lending and banking products to growing technology companies across all stages of development, including asset-based solutions, recurring revenue-based revolving lines of credit, treasury management, foreign exchange and other solutions.

People's United Bank, N.A., a subsidiary of People's United Financial, Inc. (NASDAQ: PBCT), announced its Healthcare Finance and Capital Markets Divisions provided a $57.5 million Credit Facility to ReNew REIT, a privately held healthcare real estate investment trust (REIT) formed in 2018 that focuses on independent living, assisted living and memory care communities.

The facility provides ReNew and its joint venture partner, Heritage Senior Living, with capital to acquire a senior living campus in Douglassville, PA.  

Fifth Third Bancorp (Nasdaq: FITB) announced today that Peter Gruebele has joined Fifth Third as senior vice president and San Francisco market executive. In this role, he will report to Joseph Yurosek, California market president for Fifth Third Bank.

Ryan Jaskiewicz is CEO of 12five Capital, LLC. He started 12five Capital in early 2006 at the age of 23. Jaskiewicz attended University of Illinois at Chicago where he received a bachelor of arts in political science.

Hilco Global (www.hilcoglobal.com), the privately held diversified financial services company delivering valuation, monetization, advisory and capital solutions to businesses around the world, announced today that it has entered into a definitive agreement to acquire the New York based firm - Getzler Henrich & Associates LLC ("Getzler Henrich”) (https://getzlerhenrich.com).

Getzler Henrich is a 53-year-old nationally recognized turnaround and restructuring advisory firm that focuses on providing operational and financial solutions to middle-market businesses and their stakeholders.