Garrington was established in January 2019 as part of a greater blueprint to develop a leading North American loan origination, underwriting and operations platform; handling asset-based lending, factoring, and specialty finance loans ranging from $1 million to $30 million. Garrington’s creation comes from its acquisition of Liquid Capital at the start of the year.

Wells Fargo Equipment Finance (WFEF), a division of Wells Fargo Commercial Capital (WFCC), announced the appointment of three key leaders in its Specialty Industries business unit, led by Executive Vice President Byron Payne.   

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.

A recent Supreme Court case and related law changes in many states have resulted in significant new state sales tax obligations on many SaaS providers. It’s important to understand that these changes could result in new tax collection responsibilities on your business even in states where you have operated without them in the past.

Executives need to act quickly to make sure that their existing operations are in compliance with the new rules and that their systems can adapt as sales growth and law changes trigger additional obligations.  

Forever 21 said it received $275 million in financing from its existing lenders with JPMorgan Chase Bank, N.A. as agent, and $75 million in new capital from TPG Sixth Street Partners, and certain of its affiliated funds.

Mr. Levy will be responsible for expanding the acquisition team and strategy, with a focus on continuing to source and complete industrial redevelopment transactions throughout North America within Hilco’s real estate redevelopment operating company. Mr. Levy brings an impressive 28-year track record of having delivered and managed over 40 Million Square Feet of acquired real estate totaling $2.5 Billion in assets under management spanning over 5,000 Acres.

White Oak Commercial Finance (“White Oak”), an affiliate of White Oak Global Advisors, announced today it has purchased a portfolio of asset-based loans from Veritas Financial Partners, a Boca Raton, FL based specialty finance company.

Second Avenue Capital Partners, LLC (“SACP”) (www.secondavecp.com), announced today it has provided a $12,500,000 senior secured credit facility to Carlisle Etcetera, LLC (the “Company”), a direct-to-consumer women’s luxury apparel brand. 

People's United Bank, N.A. a subsidiary of People's United Financial, Inc. (NASDAQ: PBCT), has expanded its Commercial Specialty Business with the formation of a dedicated Lender Finance team. The team will be led by Patrick Lee, Managing Director, Head of Lender Finance, Asset-Based Lending, and be an extension of the Bank’s existing Asset-Based Lending group.

PNC Bank, National Association, announced today the closing of a $42.38 million senior secured credit facility for Madison-Kipp Corporation (MKC), a portfolio company of Dallas, TX-based Trive Capital. PNC Bank, N.A., served as administrative agent.

Gail K. Bernstein was executive vice president, national investment manager for PNC Business Credit, located in Los Angeles, CA. Prior to September 2013, she was the marketing manager of PNC Business Credit-Western Region, a de novo office that she opened in 1998. Besides her extensive experience in ABL, her career encompasses a specialization in international lending and investment management. She has traveled extensively in Latin America and is bilingual in English and Spanish.

After 20 years with PNC, Bernstein retired on August 30, 2019. 

Heritage Global Inc. (OTCQB: HGBL, CSE: HGP) (“Heritage Global,” “HGI” or “the Company”), a diversified financial services company providing asset-based acquisition, disposition, valuation, and lending services, today announced the launch of Heritage Global Capital, a new platform to provide specialty financing solutions to small- and medium-sized investors in charged-off and nonperforming asset portfolios and other asset-based classes.

We tend to believe that most people who go to an interview will automatically take the job if it is offered, but many times that is not the case. It is important to remember that while you are interviewing the candidate, the candidate is also interviewing both you and the company. Just as the company has a checklist of what it is looking for, so does the candidate. Here is a guide to some of the most tried and true ways for an interviewer to ensure a ‘Yes!’ from a candidate after only one interview.

SFNet has been working with the CA Department of Business Oversight as well as with other associations to obtain the best outcome for our members. SFNet submitted a comment letter to the DBO concerning the first draft.