TSL Feature Articles
Click on the link below to meet some of the “difference makers” in the secured finance community. This issue of The Secured Lender celebrates those who are having a profound impact on both their communities and their organizations.
Previous TSL Articles
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Companies Pinched By Virus Approach Banks For New Credit
Some of the companies hit hardest by the Covid-19 coronavirus are starting to talk to banks about short-term loans that would provide a safety net during the outbreak, according to people familiar with the matter. Discussions are preliminary and have occurred mostly with airlines, said the people, who asked not to be named discussing private information. Companies in industries such as energy and travel and leisure with investment-grade or high-yield ratings could also consider backup financings, they added.
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Will the Coronavirus impact your borrowers?
Do not underestimate the impact of the Coronavirus on a company’s Q1 and Q2 2020 financial results. The supply chain issues are unknown, the potential economic slowdown is unknown, and the length of time the impact will be felt is unknown.
This will certainly be a standard excuse for performance weakness that will be heard over the next year. Be prepared!
As a lender, which borrowers do you consider for impact, and what do you do to stay ahead of the problem?
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Secured Finance Executives Discuss the Impact of Coronavirus
Jennifer Palmer, CEO, Gerber Finance, Paul Schuldiner, executive vice president and purchase order finance division manager, Rosenthal & Rosenthal and Ken Wengrod, co-founder/president, FTC Commercial Corp. discuss the impact of Coronavirus.
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Lender Alert: Commercial Finance Disclosure Legislation In New York State Merits Watching
If passed, proposed New York State Senate Bill S5470 (“the Bill”) would impose a disclosure requirement upon certain New York commercial lenders. This proposal follows a trend exemplified most notably in California, which amended the California Financing Law to require licensed commercial lenders and brokers to issue new disclosures to commercial borrowers in that state, including loans made via an internet platform.
The required disclosures of the Bill approximate those in the loan estimate form issued to home buyers by residential mortgage lenders under the federal Truth in Lending Act. The Bill has several exceptions, leaving much of the commercial lending community unaffected and placing substantial regulatory burdens on a narrow remaining segment
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Receivership Strategy When Risk is Long and Time is Short
Lenders are faced with difficult circumstances when a borrower’s business and the bank’s collateral is deteriorating. The downward spiral often includes declining or negative earnings, insufficient cash flow, declining enterprise value, escalating trade debt and “tripped” financial covenants. Further, management has not been able to reverse these negative trends and worse, have likely not been able to forecast these problems before they were reported. This will certainly erode trust between a borrower and their banker. When a lender is primarily concerned with protecting its collateral in a deteriorating situation, measuring alternative options can be considered relative to control, time, exposure and cost. -
It All Started With Key Lime Pie
Rob Meyers discusses the growth of Republic Business Credit. Republic is expanding its national platform through a dual strategy of organic growth and complementary acquisitions that add new products, talent and geographic expansion. Republic represents one of the largest entrepreneurial finance companies in the United States. -
Interview with North Mill Capital's Jeff Goldrich
TSL Express caught up with Jeff Goldrich, president and CEO of North Mill Capital (NMC), on the lender’s recent acquisitions. North Mill Capital acquired two factoring companies in 2019: Sage Business Credit, a Minneapolis, MN-based factoring company and Salt Lake City, UT-based Summit Financial Resources, in June 2019. Goldrich discusses what the acquisitions mean for North Mill. -
Interview with Ikhwan A. Rafeek of Otterbourg P.C.
In January, Otterbourg P.C. announced that Ikhwan A. Rafeek had been promoted to Member of the Firm in the Banking and Finance Group. Rafeek represents institutional lenders, banks, commercial finance companies, and factors in connection with the documentation of domestic and international secured lending arrangements, including asset-based, factoring, term loan, healthcare, real estate, middle market, leveraged, and first and second lien loan transactions. -
Middle Market CFOs Making Bold Moves Despite Volatility – BDO Survey of 700 CFOs
Middle market chief financial officers are facing widespread shifts—from trade wars to digital disruption—but they aren’t backing down from the challenge. According to BDO’s 2020 Middle Market CFO Outlook Survey, 56% of middle market CFOs expect a recession by 2021, but they are forecasting positive performance and forging ahead with growth plans.
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Founded for Entrepreneurs By an Entrepreneur
FTC Commercial Corporation was launched in 2002 with a strong focus on small and medium-size enterprise. Co-founder Ken Wengrod tapped into his experience, having worked in factoring and retail to create a company that understands the entire trade cycle of manufacturing and importing.
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