Articles

Is there a British coup occurring? Well, not really. As one demonstrator from the Shires pointed out on prime time TV, “I don’t see any tanks.”  Of course there are no tanks; this is England and in times of crisis we are more likely to be found handing out tea and sympathy than storming the Bastille.

What has happened though, is that we have all learned some new phrases and words and even the historic context of them:

This article analyzes the conflict between federal and state marijuana laws, and its impact on the inability of state-legal marijuana businesses to obtain traditional and fundamental types of banking services from federally insured banks. This article is divided into three parts: (i) an explanation of the conflict of state and federal marijuana laws; (ii) the effect of the conflicting laws on the decision of banking institutions to provide services to state-licensed marijuana businesses; and (iii) congressional and judicial attempts to resolve the conflict between state and federal marijuana laws.

This is the second article in a three-part installment about the banking dilemma for state-licensed marijuana businesses in the United States.

John DePledge, head of Asset Based Lending at Bank Leumi USA, discusses his tenure as SFNet president and COVID’s impact on plans.

Citizens announced today that it has provided a new $30 million asset-based revolving line of credit to Cranston, R.I. based Ross-Simons, a leader in direct-to-consumer sales, specializing in offering unique and proprietary fine jewelry designs alongside a deep selection of classics such as diamond tennis bracelets and gold necklaces. Citizens is the Administrative Agent, Sole Lead Arranger and Sole Bookrunner.

Ross-Simons reaches consumers through a company-operated website, catalog, and its flagship retail store in Warwick, R.I.  The company offers a wide selection of fine jewelry across a range of price points and is known for mixing materials and colors in unexpected combinations. The company was acquired earlier this month by Nonantum Capital Partners.

From the third quarter Phoenix Management “Lending Climate in America” survey results reveal COVID-19 will continue to have a major effect on U.S. performance throughout 2020.

While lenders seem to believe COVID-19 will have a major effect on the U.S. performance until a vaccine is widely available, the outlook for the U.S. economy in the near and long-term is more favorable in Q3 2020 than in the previous quarter predictions. The near-term grade point average (GPA) increased 54 percentage points to 1.72 from the Q2 2020 GPA of 1.18. The projected outlook for the U.S. economy in the long-term increased slightly (by 36 percentage points) to 2.60 from the previous quarter’s results of 2.24.

Succession planning is not a contingency plan. It is a core human resources function that builds and sustains shareholder value.

Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, announced the close of a $100 million leverage facility with KeyBank National Association, one of the nation’s largest bank-based financial services companies headquartered in Cleveland, Ohio.

The new facility will provide Great Rock Capital with further flexibility to offer creative financial solutions that maximize liquidity to middle market borrowers and will position the firm for continued growth.

Significant disruptions in credit quality have facilitated the need for field examiners to be on alert for situations that are generally not prevalent in a more stable environment. 

Doug Motl joins UMB Capital Finance as Senior Vice President, Director of Originations to manage its rapidly expanding business development department initiatives. Doug will be responsible for leading the Asset Based Lending’s originations team as UMB continues to broaden its marketing efforts nationally across the Company’s platform.