Articles
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Bigger Is Better When It Comes To Banking – Part III
Aug 5, 2013Last week SFNet's blog featured Chairman & CEO Mark Sunshine of Veritas Financial Partners. Here is Part I of Sunshine’s…
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Bigger Is Better When It Comes To Banking – Part II
Jul 22, 2013Last week SFNet's blog featured Chairman & CEO Mark Sunshine of Veritas Financial Partners. Here is Part I of Sunshine’s…
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Bigger is Better When It Comes To Banking According to FDIC Data
Jul 16, 2013FDIC clearly shows that when it comes to bank financial performance, size matters, and it matters a lot. For twelve…
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Jennie Kim of Great American Group discusses how being a woman makes a difference when building relationships within the financial services industry.
Jul 1, 2013The financial services industry is an interesting one. There are many different layers and sectors that fall into this field.…
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Alternative Financing Solutions for Bank Special Assets Group Clients
Jun 11, 2013There have been some signs and indicators recently that the economy may finally be turning the corner.…
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Loan Broker Compensation – Ethical And Legal Considerations
May 31, 2013Broker compensation is a hot topic for those in the financial services industry. Over the past few months, I’ve personally…
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Factoring is not a Four Letter Word
May 23, 2013It has been widely reported that P&G has extended payment terms with its suppliers. Extending payment terms will free up…
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Joe Accardi and Tony Cortese of Sovereign/Santander discuss maximizing employee output.
May 13, 2013Many believe that with so many headcount reductions over the last few years, productivity per employee has now peaked. Generally,…
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It’s People that Make the Difference
Apr 29, 2013Keeping and retaining excellent personnel is hard to do, whether you are a professional services firm, a lender, retailer or manufacturer.
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Robyn Barrett, founder and managing member, FSW Funding, Discusses “The Profitability of a Lender”.
Apr 19, 2013In his book Good to Great Jim Collins states, “There aren’t actually all that many companies that make it to…
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Mike Sweeney of EverBank Commercial Finance Inc. discusses the Affordable Healthcare Act.
Apr 11, 2013
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PLAYSTUDIOS Announces New $75 Million Revolving Credit Facility
PLAYSTUDIOS, Inc. (Nasdaq: MYPS) (“PLAYSTUDIOS” or the “Company”), an award-winning developer of free-to-play casual mobile and social games that offer real-world rewards to loyal players, announced today that it has entered into a new $75 million, five-year secured revolving credit facility (“New Credit Facility”) to support its future growth initiatives. The New Credit Facility also provides the Company with an option to increase the credit facility for up to an additional $75 million.
JPMorgan Chase Bank, N.A., Silicon Valley Bank and Wells Fargo Securities, LLC, served as joint bookrunners and joint lead arrangers. JPMorgan Chase Bank, N.A., serves as the administrative agent. -
Tempur Sealy Closes Bank Financing with JPMorgan Chase Bank, N.A., as Administrative Agent
The Company entered into an incremental 364-day $200 million term loan (the "364-Day Loan") among several banks and other financial institutions, including JPMorgan Chase Bank, N.A., as administrative agent. The additional financing provided under the 364-Day Loan enhances the Company's liquidity during the unprecedented global impact of COVID-19.
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Lender Stayed From Proceeding With UCC Article 9 Sale
Moritt Hock & Hamroff recently reported on the impact of the COVID-19 pandemic on Uniform Commercial Code (“UCC”) Article 9 sales. Now, a second significant decision on this issue has been published. While our last alert concerned whether Article 9 sales may proceed in light of Governor Andrew Cuomo’s Executive Order precluding foreclosures (and reported a decision holding such Article 9 sales may proceed), this latest decision addresses the Article 9 “commercial reasonableness” standard in the present environment, holding that the sale terms established by the lender in question were not reasonable and staying the sale for at least thirty (30) days.
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Financial Analysis - Getting Behind The Numbers
Financial analysis is a cornerstone for any credit administration function. Each loan officer must know his or her borrowers and thorough financial analysis is the best way to start.
The goal of financial analysis is to link business events to changes in the balance sheet, income statement and cash flow to explain the company’s performance during the period under analysis. Without this linkage you end up with “elevator analysis” (sales are up, AR is up, EBITDA is down, etc.) and no meaningful understanding of the company’s performance.
Where do you start? EBITDA is often a starting point for many people. Why? It is a standard measure of performance in the banking and finance industry. EBITDA is a measure of the profitability generated by a business before interest expense, tax expense and depreciation and amortization expense. While this gives the analyst a place to start and some ability to compare to comparable companies, EBITDA should not be viewed as a proxy for cash generation ability.
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First Citizens Adds Linda Stanley to its Middle Market Banking Business
First Citizens Bank today announced that it has hired experienced banker Linda Stanley as a relationship manager in its Middle Market Banking business.
In this role, Stanley will be responsible for developing, maintaining and expanding client and prospect relationships in the middle market financing sector, where the bank is a leader.
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Cambridge Savings Bank Fuels The Ockers Company’s Growth With $8 Million Credit Facility
Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, announced that its Asset-Based Lending team has extended an $8 million credit facility to The Ockers Company, an information and communications technology reseller located in Brockton, Massachusetts.
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Paragon 28 Enters Into $70 Million Credit Facility With MidCap Financial
Paragon 28, Inc. a market leading orthopedic medical device company focused exclusively on the foot and ankle, today announced that the Company has entered into a credit facility with MidCap Financial ("MidCap") providing Paragon 28 access up to $70 million in total credit.
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Federal Reserve Board Announces it Will Extend its Paycheck Protection Program Liquidity Facility, or PPPLF, by Three Months to June 30, 2021
The Federal Reserve Board on Monday announced it will extend its Paycheck Protection Program Liquidity Facility, or PPPLF, by three months to June 30, 2021. The extension will provide continued support for the flow of credit to small businesses through the Paycheck Protection Program, or PPP.
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The Distressed Organization and its Viability
Editor's Note: This article is intended for newer entrants into the industry. Look for more content like this throughout the year.
Most organizations move along a continuum. Diametrical opposites, the end points of the continuum reflect a very different state of affairs. At one end of the continuum is the custodial environment, which is relatively stable and resource rich. The organization is profitable with growing revenues as reflected in both margins and market share. This provides access to additional capital if required. Information provided to management is timely, relevant and reliable. It is used by a competent and stable management team.
The Secured Lender
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