Articles
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Trade Finance Insights: Financing Trade Receivables Beyond ABL or Factoring
A Demica senior director explains how trade receivable securitization programs can be used as a valuable alternative to other funding solutions, especially in cross-border or challenging credit environments.
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SG Credit Partners Extends Credit Platform and Launches New Website
SG Credit Partners today announced the extension of its comprehensive credit platform exclusively serving lower middle market entrepreneurs and new website illustrating its expanded capabilities. The broad platform was developed to provide tailored lending solutions ranging from $1 to $10+ million for entrepreneurs seeking a customized structure spanning both business and personal assets. The platform delivers a complete range of credit solutions including: cash flow, collateral-based, hybrid structures, high net worth, technology & recurring revenue and special situations lending.
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Women Leaders Talk About Advancing in the Ranks
Secured Finance executives and an executive recruiter discuss how the industry can attract and retain more women.
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Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act: PPP Loans Round 2
The Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act was signed into law. While the implementing regulations are not required to be issued by the SBA until January 6, 2021, the Act does provide insight into the new and revised programs.
The purpose of this article is to provide an overview of the Act to allow borrowers and lenders to take advantage of potential liquidity enhancements. -
Andrew Cerussi Joins Tiger Financial as Managing Director
Andrew (Andy) Cerussi has joined Tiger Financial, LLC as a Managing Director. Tiger Financial is an affiliate of Tiger Capital Group, the asset valuation and financial services firm.
From his base in Tiger's Boston office, the 20-year veteran of the asset-based lending and financial services industries will focus on identifying both secured debt financing and equity capital opportunities.
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UK Law: What should Secured Lenders be Doing now to Prepare for the New Moratorium?
Richard Hawkins, Georgia Quenby and John Alderton provide an overview of the potential impacts of the New Moratorium and consider actions that Secured Lenders may wish to consider in preparation.
(Editor’s Note: SFNet will be hosting a Webinar on UK Insolvency Reform: What Secured Lenders Need to Know, which will include the authors and other experts on June 10 at 11 AM ET.)
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Anatomy of a Deal: Participations
At Haversine Funding, we take pride in offering unique and flexible alternatives to our clients. The adaptability built into our DNA allows us to provide senior and junior lines of credit - exclusively to factors and lenders - ensuring we don’t compete with our clients.
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Citizens Leads $125 Million Credit Facility for Franchise Group, Inc.
Citizens announced today that it is lead left arranger of a $125 million asset-based loan for Virginia Beach, VA-based Franchise Group, Inc. (Nasdaq: FRG).
Franchise Group is an operator of franchised and franchisable businesses that continually looks to grow its portfolio of brands while utilizing its operating and capital allocation philosophy to generate strong cash flow for its shareholders. This transaction refinances an existing ABL for two of its businesses – American Freight and Buddy’s Home Furnishings.
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IDB Bank Leads $100MM Revolving Credit Facility For Dwight Funding
IDB Bank (IDB), a New York-based private and commercial bank, has closed up to a $100 million asset-based revolving credit facility for Dwight Funding, a New York-based lender to modern brands and platforms. Dwight Funding was one of the first capital providers to focus on high growth, digitally native brands.
IDB was the sole lead arranger and administrative agent for Dwight's facility, signaling the Bank's growing position in the Lender Finance industry. -
Software as a Service (“SaaS”) Lending is Going to Become Mainstream
It’s only a matter of time before SaaS lending enters mainstream ABL. Lending to SaaS, which stands for Software as a Service, differs from traditional software in that it is deployed and made accessible to users over the internet (or in the “Cloud”), and is going to be the next ABL battleground. Today it remains a niche lending vertical conducted mostly by tech-focused banks and nonbank credit funds. However, this is going to change meaningfully as the SaaS industry continues to mature. There are an estimated 10,000 private SaaS companies, the vast majority of which are early stage, generating less than $3 million in annual revenue. To put this in perspective, companies such as the wildly popular Zoom and workforce tool Slack utilize SaaS models. The U.S. economy is well into a transformational period where many business tools are moving to the cloud. -
Castlelake Partners with Aequum Capital to Establish Specialty Lending Platform
Castlelake, L.P. ("Castlelake"), a global alternative investment manager with approximately 17 years of experience investing in asset-rich opportunities, and Aequum Capital Founder, LLC ("Aequum"), a tech-enabled specialty finance lender, today announced a partnership establishing a new commercial lending platform for the origination and servicing of efficient senior asset-backed loans to small and medium-sized businesses in the U.S.
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Canada’s Anthem Entertainment Ups Spending Power by $550 Million with New Credit Facility
The acquisitive Canadian music rights and services company – formerly known as Olé Entertainment – has announced that it has secured a new revolving credit facility of USD $400 million, plus a USD $150 million accordion.
Truist Securities served as Left Lead Arranger of Anthem Entertainment’s new $400 million credit facility. Fifth Third Bank acted as Joint Lead Arranger, Union Bank acted as Syndication Agent and Regions Bank acted as Documentation Agent.
Other banks in the facility include Bank of America, Bank Hapoalim, CIT Bank, First Horizon Bank, HSBC Bank, Pacific Premier Bank, Pinnacle Bank and Scotiabank.
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Santander Names Scott Baldinelli as Head of New England Middle Market Banking
Santander Bank, N.A. (“Santander Bank” or “Santander”) today announced the appointment of Scott Baldinelli as Head of New England Middle Market Banking. Baldinelli will report to Joe Abruzzo, Head of Commercial Banking for Santander Bank.
Baldinelli will lead business development, market growth and relationship management for Commercial Banking’s middle market segment in New England, encompassing the company’s Boston-based location. The industry veteran will assume the role from Robert Cerminaro, who was recently promoted to Head of Mid-Corporate Banking in Santander’s Commercial Banking division.
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FGI Appoints Ronnie Bloom to Expand its Canadian Presence
FGI Worldwide LLC (www.FGIWW.com) has announced the hiring of Ronnie Bloom as the newest Managing Director. Based in Toronto, Mr. Bloom will be responsible for growing and nurturing FGI’s strategic partnerships within numerus Canadian markets by embracing a committed, boots to the ground approach.
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Secured Finance Foundation – Where We Were and Where We’re Going
The Secured Finance Foundation, a 501c3 organization, has been busy this past year rolling out new programs that benefit our industry. Some of the important initiatives from 2019 include commissioning and delivering a groundbreaking Market Sizing & Impact Study, with assistance from Ernst and Young, LLP, which is free to our members and donors..
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Heritage Bank of Commerce Builds Out National Specialty Finance Group
Heritage Bank of Commerce (the “Bank”), a subsidiary of Heritage Commerce Corp (Nasdaq: HTBK), today announced that the Bank continues to expand its Specialty Finance Group. The Specialty Finance Group consists of Bay View Funding’s national factoring business and the Bank’s national Asset-Based Lending (“ABL”)/Corporate Finance team and regional Small Business Administration (“SBA”) lending team in the San Francisco Bay Area.
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Ares Commercial Finance Provides an $11 Million Credit Facility to NHI Mechanical Motion, LLC
Ares Commercial Finance announced that it has provided an $11.2 million senior secured credit facility to NHI Mechanical Motion, LLC comprised of a revolving line of credit, a real estate term loan and a term loan secured by machinery and equipment. Proceeds from the financing were used to support the acquisition of the business and for ongoing working capital support.
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Interview with Heather Sonnenberg, Partner, Blank Rome
WISF Committee member Heather Sonnenberg concentrates her practice in commercial finance, with a particular focus on asset-based and cash-flow financing for various industry sectors, including manufacturing, healthcare, and other service industries. She serves a wide range of clients, including banks, commercial finance companies, mezzanine lenders, and other institutional lenders, along with private equity firms, hedge funds, and publicly and privately held corporations. -
Lending to Manufacturers and Sellers Operating as Licensees (not Owners) of Famous Marks
SFNet President John DePledge, Head of ABL at Leumi Business Credit, and Riemer & Braunstein finance partner, Lon Singer, address the special business and legal considerations involved in lending to a company that operates as a licensee of a famous brand.
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Interview with Jennifer Palmer
In January, Gerber Finance announced the completion of its CEO succession strategy, naming longtime president Jennifer Palmer as CEO with Founder Gerald Joseph transitioning to his new role as strategic advisor and chairman of the board.
The Secured Lender
SFNet's The Year Ahead Issue
