In this new feature series, “The Story of,” Charlie Perer sits with the key entrepreneurs and executives who have built leading commercial finance companies to talk about the origins of their respective firms. The purpose of this series is to tell the story behind many of the most famous and dynamic firms of past, present and future. The first feature is about Foothill Capital, which, of course was acquired by Norwest in 1998 and later by Wells Fargo. The core team at Foothill went on to be leaders at Wells Fargo Capital Finance and throughout the entire commercial finance industry.

DataBank, a leading provider of enterprise-class edge colocation, interconnection, and managed cloud services, announced today that it has secured another $350M in financing to fund the ongoing expansion of its edge data center footprint. Led by TD Securities, the $350 million credit facility includes a $175 million, 5-year Term Loan, a $125 million Delayed Draw Term Loan ("DDTL") which is undrawn at close, and a $50 million revolving credit line. 

RelPro, the fast-growing business development and relationship management solution for Financial & Professional Services, today announced that Raaj Rajmangal has been appointed as President of RelPro. Rajmangal, who previously served as the company’s Chief Technology Officer, will now be responsible for RelPro’s strategic development and execution. RelPro CEO and Founder Martin Wise will continue as CEO to drive the corporate vision, working closely with RelPro’s clients and partners.

SFNet's Independent Finance Roundtable (IFR) will be held April 18-20, 2023, at The Gwen in Chicago, IL. SFNet’s in-person Independent Finance Roundtable brings together senior-level executives from non-bank, independent SFNet member companies in a small setting. Attendees gather to discuss key industry topics that affect their business while enjoying time to network.

Encina Private Credit, LLC (“EPC”) is pleased to announce that it has served as joint lead arranger and joint bookrunner for a $155 million senior secured credit facility supporting a global technology focused private equity firm for the acquisition of a leading provider of cloud-based enterprise software solutions.

40-year ABL executive Mike Knuckles to lead metro Atlanta office serving U.S. South

GULFPORT, Miss. (April 3, 2023)—Hancock Whitney has established a new companywide asset based lending (ABL) division primarily serving 12 states across the southern United States. Mike Knuckles, an asset based lending executive with decades of industry experience, will lead the line of business based in suburban Atlanta, Georgia, and direct all recruiting and hiring.

Wharton finance professor Itamar Drechsler discusses what led to the collapse of SVB and the questions it raises for banks, depositors, and regulators going forward.

It’s no secret that, despite great progress in the last couple of decades, secured finance remains a male-dominated field. Here, we shine the spotlight on three unique SFNet members whose teams are made up of more women than men.

First Citizens Bank today announced that its Healthcare Finance group, part of the CIT division, has provided $44.2 million to affiliates of Kayne Anderson Real Estate and Remedy Medical Properties to finance a portfolio of medical office building properties.

Zions Bancorporation, N.A., through its Texas Division, Amegy Bank, closed and funded a $45,000,000 credit facility for an importer and distributor of iron castings for the water and waste water industries.

Crédit Agricole CIB has closed a new $100MM 3-year Senior Secured Revolving Credit Facility with Allegiant Travel Company, acting as Sole Arranger and Bookrunner.

Allegiant is a longstanding client of the Bank, with this Senior Secured Revolving Credit Facility being the foundation of its relationship with the Company since 2015. With this latest refinancing, the transaction will continue to further enhance Allegiant’s liquidity position and will support the Company’s order book and introduction of new technology assets.

Assembled Brands is pleased to announce that Genevieve Forsman and Juliana Clark have joined its team as Portfolio Analysts in Los Angeles, CA. In this role, Forsman and Clark are responsible for account management, operational and collateral compliance, and portfolio monitoring.

There are few individuals more genuinely positive and upbeat than SFNet’s own Michele Ocejo. On her 30th anniversary of joining SFNet, I took the opportunity to sit down with our heralded but unassuming director of communications and discussed the importance of relationships, making an impact, and the joy she gets from sharing people’s stories.

First-Citizens Bank & Trust Company ("First Citizens Bank"), a subsidiary of Raleigh-headquartered First Citizens BancShares, Inc. ("First Citizens") (Nasdaq: FCNCA), announced today that it has entered into an agreement with the Federal Deposit Insurance Corporation (FDIC) to purchase out of FDIC receivership substantially all loans and certain other assets, and assume all customer deposits and certain other liabilities of Silicon Valley Bridge Bank, N.A. 

BofA Securities, Inc. is serving as exclusive financial advisor to First Citizens and Smith, Anderson, Blount, Dorsett, Mitchell & Jernigan, LLP acted as legal advisor.

Secured finance, much like the rest of financial services, is often a high-pressure industry, requiring long hours to resolve client concerns, handle due diligence, and scout for new prospects. Professionals in the field are commonly answering emails in the wee hours of the morning and late into the night. But the greying of the industry and attrition are causing secured finance executives to take a long, hard look at employee concerns, as well as DEI, recruitment, and retention initiatives.

Beam Global, (Nasdaq: BEEM, BEEMW), the leading provider of innovative sustainable products and technologies for electric vehicle (EV) charging, energy storage, energy security and outdoor media, announced the execution of a line of credit with supply chain solutions specialist, OCI Group, based in London, UK. OCI is highly experienced in accelerating business performance for high-growth-potential organizations. 

Cadence Business Finance, a subsidiary of Cadence Bank (NYSE: CADE), today announced the addition of Steven Janson and Mark Buren as managing directors, expanding the company’s footprint for asset-based lending solutions to middle-market companies.

 In the wake of the recent collapse of Silicon Valley Bank (SVB) and Signature Bank—and subsequent banking industry developments  in the U.S. and elsewhere—markets and the public should be reassured by the  response of federal regulators to cover depositors and to help maintain confidence and stability in the resilient U.S. banking system amid challenging economic times. That’s according to a senior regulatory compliance expert at Wolters Kluwer Compliance Solutions.