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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Transformational Change and Crisis Costs Weigh Heavily on Both Sides in Stressed and Distressed Retail/Supplier Relationships
Ben Nortman and Ian Fredericks of ReStore Capital examine the financial burden that consumer mandated transformation and the current crisis are imposing on both retailers and their suppliers, and how innovative financial solutions can be leveraged by both to help ensure successful outcomes in stressed and distressed environments.
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Wingspire Capital Provides $40.0 Million Senior Secured Loan to Save-A-Lot
Wingspire Capital Holdings (“Wingspire”) today announced that it has provided a $40.0 million senior secured loan to Moran Foods, LLC d/b/a Save-A-Lot. (“Sav-A-Lot”). Wingspire’s loan was part of a $150.0 million revolving line of credit among a group of three lenders. Loan proceeds were used to repay existing debt and support Save-A-Lot’s operations and acceleration of its transformation plan.
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New UK Insolvency Legislation and its Potential Impact on the Asset-Based Lending Industry: The New Moratorium
Richard Hawkins, CEO of Atlantic RMS, considers the implications of the UK government's latest announcement and its impact on asset-based lending to UK business.
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CARES Act Frequently Asked Questions
On March 27, 2020, Congress approved the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”). The CARES Act includes extensive provisions to address the current public health crisis, including, among other things, $349 billion of commitments for general business loans under Section 7(a) of the Small Business Act (15 U.S.C. 636(a)) through June 30, 2020 under Title I of the CARES Act, titled “Keeping American Workers Paid and Employed Act,” which sets out the terms for the “Paycheck Protection Program.”
The Paycheck Protection Program has been of particular interest to members of Secured Finance Network because it provides potential interim financing for small businesses that are typical borrowers from many member lenders.
Following up on the description in the articles above here are answers to some frequently asked questions from members of the Secured Finance Network.
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SFNet’s Annual & Q4 Asset-Based Lending Surveys Reflect Continuing Growth
In perhaps the last snapshot of the secured finance industry before the onset of the COVID-19 pandemic, the fourth quarter and annual SFNet Asset-Based Lending Surveys reflect that banks and independent lenders reported that asset-based lending to U.S. businesses increased steadily and credit quality remained strong. However, the unfolding COVID-19 pandemic that began in the first quarter of 2020 is having an unprecedented impact on financial markets worldwide.
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CARES Act Paycheck Protection Loan Program: From the Secured Lender Perspective
Editor's Note: SFNet’s Advocacy Committee is prioritizing initiatives to support our bank, non-bank and service provider constituents. A key component of this is analyzing the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which was enacted on March 27, for specific opportunities to address the needs of our members and borrowers across asset classes and industries, as the focus now turns to implementation.
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Success By Lenders Working Together
Forrest Gump said, “Life is like a box of chocolates; you never know what you are going to get.” Partnering with other lenders can be similar. You don’t know what you are going to get if you jump into partnerships without doing your due diligence and establishing alliances with the best partners.
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Interagency Guidance for Financial Institutions on Coronavirus Disease-Related Loan Modifications
On Sunday night, March 22, 2020, the federal banking agencies (OCC, FDIC, NCUA, Federal Reserve), the Consumer Financial Protection Bureau and the State Conference of Bank Supervisors issued an Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus.
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Top 5 Invoice Finance Frauds
Aaron Hughes looks at some of the ways directors might misuse their invoice finance facilities and how lenders can stem any potential losses.
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Exploring Forbearance Issues in the Context of COVID-19
The lightning-fast spread of COVID-19 around the world has quickly transformed our commercial and financial outlook, ending one of the longest economic expansions in U.S. history and throwing future prosperity into doubt. As conditions deteriorate from here, the likelihood that lenders will need to consider a forbearance is high, and as such, now is a good time to identify at-risk credit facilities and perform any necessary due diligence.
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