Articles

Commercial loan growth reaccelerated across much of the U.S. banking industry as lenders began to fund federally backed small business loans and prepared to start processing a second round of applications under the coronavirus relief program.

Excluding the 25 largest institutions by assets, commercial and industrial loans increased 6.3% during the week ended April 15, according to seasonally adjusted data in the Federal Reserve's most recent H.8 report on commercial banks. That represents a huge jump from growth rates of 0.6% to 0.8% in the preceding two weeks, and leapfrogs growth of 2.1% to 2.3% during two weeks in March when corporate draws against bank credit lines were particularly heavy.

Encina Business Credit, LLC announced today that it has provided a $75 million senior secured revolving credit facility to a leading global provider of risk management and operational support services to government and commercial clients.

The senior secured revolving line of credit, which is collateralized by accounts receivable, was used to refinance existing debt and provide ongoing working capital financing.

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.

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.

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.

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.

36th Street Capital Partners LLC (“36th Street Capital”), an independent provider of alternative funding solutions for the equipment financing industry, announced the appointment of Wayne Tentler as Executive Vice President of Sales.

The addition of Mr. Tentler provides 36th Street Capital an opportunity to develop new client relationships while expanding the company’s position in the marketplace. Based in the Sarasota, FL, Wayne brings over 15 years of experience in corporate finance, including most recently serving as Commercial Leader for one of GE Capital’s Industrial Financing units.

Wingspire Capital Holdings is pleased to announce the completion of a $30 million senior secured loan to home furnishings retailer Arhaus, LLC to support the company’s daily operations and continued growth.

Wingspire Capital leadership was already familiar with Arhaus and its executive team, and welcomed the opportunity to support a growing and innovative retailer that has been redefining the home furnishing space for more than three decades.

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.

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.

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.

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.