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Wintrust Receivables Finance (WRF) announced the closing of a new $4.5 million accounts receivable line of credit for a growing paper bag manufacturer.

The company’s proprietary technology allows production of paper bags in a greener, more sustainable, and more efficient method. This, coupled with the decline in use of plastic bags due to environmental concerns, had led the company to land a number of new clients in 2020. The line of credit provided by WRF will fund the company’s growing working capital financing needs as it expects exponential growth over the next three years.

Jones Day partners provide details on a cross-border restructuring case over many foreign and U.S. jurisdictions.

Denise Albanese of Cost Reduction Solutions discusses the origin of her firm that was started by her husband, Michael F. Albanese, CPA, as a sole practitioner field examiner. 

Denise also discusses the new procedures implemented when the Covid-19 crisis began, what field exams in the future may look like and what makes a business successful. 

During the Secured Finance Network’s webinar on the healthcare finance sector, streamed May 15, Allen Wilen of EisnerAmper, described a future scenario affected by human longevity, geographic location and how COVID-19 affected you. New trends relevant to finance executives are accelerating out of necessity because of the sudden impact of the coronavirus pandemic and the weaknesses it illuminated.

SC&H Capital announced it is expanding its capabilities to service distressed mergers and acquisitions (M&A) by adding seven members of the boutique investment banking firm, Equity Partners, to its investment banking advisory team.

Equity Partners is recognized nationally for its work in distressed M&A and has led and managed more than 600 transactions nationally since its founding in 1988. The Easton, Maryland -based firm will cease operations as members of its team take on key roles at SC&H Capital.

SFNet values its members’ input and feedback as it helps shape priorities and drills down to focus on what matters most. Results from SFNet’s Annual Membership Survey, completed earlier this year, were very positive, with 90% of SFNet members reporting they’d recommend SFNet to friends and colleagues and two thirds reporting SFNet’s response to the pandemic has been better than any other association to which they belong.

In fact, our association has seen our Net Promoter Score (a key measure of loyalty) steadily increase over the past three years, up 37 points since 2018 and well above trade association averages. Results also gave us ideas for areas of improvement, and SFNet is taking on several new initiatives in response to this. This article will break down the membership survey results and what the Association has planned for the remainder of 2021.

Gordon Brothers, the global advisory, restructuring and investment firm, and Nations Capital Inc. (NCI) have joined forces to expand the firms’ commercial and industrial market presence and serve a broader range of clients with holistic solutions.

Gordon Brothers’ majority investment in NCI will bolster both firms’ existing commercial and industrial capabilities in North America, which include asset-focused solutions across valuations, dispositions, financing and investment.

Growing firm expands capabilities with a division focused on large deals

Gerber+ provides funding for its first client, Molded Acoustical Products

Gerber Finance, a leading finance partner for companies experiencing accelerated growth, is expanding its portfolio and client offerings with the launch of Gerber+. This new division will service businesses seeking a higher level of funding ranging from $10 to $25 million. Gerber Finance currently focuses on facilities up to $10 million. Gerber is also announcing its first Gerber+ client, Molded Acoustical Products (MAP) of Easton, a full-service insulation manufacturing solutions company.

As of March 31, 2020,  the US Treasury Department has issued the application form and other guidance in connection with the Paycheck Protection Program which can be found on its website:  https://home.treasury.gov/cares

The materials on the website include:

●  Paycheck Protection Program Overview
●  Paycheck Protection Program (PPP) Information Sheet: Lenders
●  Paycheck Protection Program (PPP) Information Sheet: Borrowers
●  Paycheck Protection Loan Program application
●  Paycheck Protection Program – Interim Final Rule

What’s it like to be a woman executive in a historically male-dominated industry?  What do you wish you knew when you were 30?  Young professionals had the chance to listen to top women executives in the ABL industry offer advice on career moves, leadership, diversity, and more at the SFNet’s YoPro Leadership Summit held in Chicago, IL on August 28^th.

The third quarter saw continued confidence in the asset-based lending market, according to data released by the Secured Finance Network, and that was welcome news as the country wrestles with inflation, rising interest rates and a slowed economy.

SFNet surveyed bank and non-bank asset-based lenders (ABLs) on key indicators for its quarterly Asset-Based Lending Index and SFNet Confidence Index.  

“Despite the challenges, the asset-based lending industry remains on solid footing,” said SFNet CEO Richard D. Gumbrecht. “Portfolio performance is strong by historical standards, commitments are up, and lenders anticipate strong demand. Overall, the industry is decently-positioned to weather worsening business conditions and a potential recession.”

Bank of America, Goldman Sachs and Credit Suisse acted as Joint Bookrunners and Joint Lead Arrangers on the New Term Loan. Bank of America is the Administrative Agent. Additional details on the New Term Loan may be found in the Form 8-K to be filed with the Securities and Exchange Commission.

eCapital Corp. (“eCapital” or “the Company”), a leading capital solutions provider for small and medium-sized businesses in North America and the UK, today announced it achieved substantial growth in 2020 and consolidated a total of eight acquired entities into a simplified corporate structure.    

In its 2020 growth surge eCapital provided its clientele access to over $4 billion in financing across 80 industries in the US and Canada, and also achieved an ~66.5% YoY increase in gross revenues and an ~56% YoY increase in portfolio size. 

BHI, a full-service commercial bank led by CEO Gil Karni, announced a restructuring of the bank’s business team to accommodate its current growth, fulfill the execution of BHI’s strategic plan, position the bank for further expansion and reinforce its industry expertise in specific sectors.

John Yoler, Executive Vice President and Division Executive, has been appointed Head of BHI Commercial & Industrial, overseeing BHI’s C&I teams in New York, New Jersey, Florida and California.