- Leading Restructuring Lawyer Joins Latham & Watkins in New York
- Update: Texas Court Halts the FTC’s Rule Banning Non-Compete Clauses
- Olympic Athletics and Lending, Private Equity and Investing Success – Not as Different as You Might Think!
- SFNet Announces IMPACT Award Winners and 2024 Hall of Fame Inductees
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Henry Schein Enhances Liquidity Position With New $750 Million Credit Facility
Jul 13, 2023Henry Schein, Inc. (Nasdaq: HSIC), the world’s largest provider of health care solutions to office-based dental and medical professionals, today announced that it has closed on a new $750 million credit facility with a maturity date of July 2026. JP Morgan Securities LLC and U.S. Bank NA acted as Joint Lead Arrangers with respect to the new credit facility.
-
Shields Up: How Secured Lenders in Canada Can Protect Against Undervaluation in Insolvency Driven Sales Processes
Jul 11, 2023The present economic cycle distinguishes itself from previous credit crises due to the influence of unforeseeable elements that are driving inflationary pressures. Consequently, lenders find themselves navigating an extended period of ambiguity. Instead of encountering a swift surge of defaults, we anticipate a turbulent environment that demands the collective willingness of all involved parties to adapt terms and effectively address distress. -
Secured Finance Foundation Releases Latest SFNet Market Pulse Report
Jul 11, 2023“The secured finance industry is far-reaching with intertwined sectors and an abundance of opportunity," said Jennifer Palmer, SFNet President and CEO and founder of JPalmer Collective. "In the last year, we’ve focused on building alliances with industry organizations and educating them about the financing options available. As a result, we’re seeing an increase in awareness – which we expect to translate to utilization – of secured finance and opportunities for many of our members.”
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Houlihan Lokey to Acquire 7 Mile Advisors
Jul 10, 2023Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, has agreed to acquire 7 Mile Advisors (7MA), an independent advisory firm that provides a range of investment banking services to clients across the IT services sector. The transaction, signed July 7, further enhances Houlihan Lokey’s deep industry expertise in IT services and expands the firm’s geographic footprint.
-
First Citizens Bank Names Joe Kernan to Healthcare Finance Position
Jul 5, 2023First Citizens Bank today announced that its Healthcare Finance business, part of the bank’s CIT division, has named Joe Kernan as its new relationship manager. Kernan is based in Pasadena, CA (Los Angeles Metro) supporting healthcare clients in the Western U.S.
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Monroe Capital Completes Acquisition of Horizon Technology Finance Management and Expands into Venture Debt
Jul 5, 2023Monroe Capital LLC (“Monroe”) today announced it has completed the acquisition of Horizon Technology Finance Management LLC (“Horizon”), a market leader in venture debt lending. Horizon is the investment adviser to Horizon Technology Finance Corporation (NASDAQ: HRZN).
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Interview with Rosenthal’s Chief Lending Officer Paul Schuldiner and Director of Recourse Factoring Leigh Lones
Jul 5, 2023
Rosenthal & Rosenthal’s recourse factoring division, launched earlier this year, allows the company to look beyond the traditional industries served by non-recourse factoring. Here, Rosenthal’s chief lending officer, Paul Schuldiner, and director of Recourse Factoring, Leigh Lones, discuss the recourse factoring division and what they’re seeing in the industry.
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SWK Holdings Corporation Announces New Credit Facility with $45 Million Committed at Close
Jun 29, 2023SWK Holdings Corporation (Nasdaq: SWKH) ("SWK" or the "Company"), a life science focused specialty finance company catering to small- and mid-sized commercial-stage companies, announced the signing of a new four-year credit facility with First Horizon Bank ("First Horizon").
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U.S. Bank Names Jimmy Whang Head of Commercial Products
Jun 28, 2023U.S. Bank today announced that Jimmy Whang has been named the head of its Commercial Products group, effective June 30. In this role, Whang will lead Fixed Income and Capital Markets (Capital Markets and Sponsor Finance; Credit Fixed Income; Structured Credit; Derivatives; Foreign Exchange; Municipal Products; and ESG strategies) and Working Capital Finance (Asset Based Finance; Global Trade and Supply Chain Finance).
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Rosenthal Names Andrew O’Day VP Business Development Officer
Jun 27, 2023Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending (ABL), purchase order financing, d2c and e-commerce inventory financing firm in the United States, today announced that Andrew O’Day has joined Rosenthal as a VP Business Development Officer for the Midwest region.
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Overall Lender Confidence Still Positive in First Quarter, But Down from the End of 2022
Jun 27, 2023
Non-banks more bullish, banks more bearish about new business demand, hiring and client utilization for asset-based lending
-
SFNet Member Spotlight: nFusion Capital
Jun 26, 2023
Fusion Capital Finance
6444 Burnet Rd., Ste 100
Austin, TX 78757
nFusioncapital.com
nFusion Capital is a private working capital finance company, headquartered in Austin, TX, providing customized financing solutions to small- and medium-sized businesses nationwide. Led by a team of entrepreneurs, all of who were business owners before lenders, we have a unique approach to the world of business finance. We are optimists, starting from a position of “yes we can” and aggressively work on behalf of our customers to ensure their success.
-
SFNet Wins Safe Harbor Fight in California
Jun 26, 2023
Last Tuesday, the California Assembly Judiciary Committee voted in favor of a measure that will amend the CA SB 1235 disclosure law to provide an explicit safe harbor protecting asset-based lenders and factors who provide a good faith estimate of APR in compliance with the regulations from any liability should that estimate differ from the actual APR. The measure now moves to a vote in the Assembly and is expected to be signed by the governor by mid-July. This was a critically important concession given the fundamental challenges SFNet has contended exist in using APR as a basis of comparison for secured finance products.
-
Slide Insurance Raises Additional $35 Million of Capital
Jun 22, 2023Slide Insurance, a full-stack insurtech focused on homeowners insurance, announced today the closing of a $35 million senior credit facility with Regions Bank.
-
Cybersecurity: What Lenders Need to Know
Jun 21, 2023Business disaster is only a click away. Cyberattacks are becoming an epidemic affecting all businesses. A single mishap can critically impair business operations or even shut down operations entirely resulting in catastrophic financial and reputational damage. -
Holland & Knight Strengthens Finance Practice in Los Angeles with Additions of Hamid Namazie, Yoojin Lee and Mark Spitzer
Jun 21, 2023Hamid Namazie, Yoojin Lee and Mark Spitzer, three highly regarded finance attorneys in Los Angeles, have joined Holland & Knight's Financial Services Team as partners. They will also be members of the firm's Asset-Based Lending Team. Mr. Namazie, Ms. Lee and Mr. Spitzer join the firm from McGuireWoods LLP, where Mr. Namazie served as managing partner of the firm's downtown Los Angeles office.
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The Rockport Company Looks to Sell Assets and Pursue Financial Reorganization
Jun 16, 2023The Rockport Company, LLC (“Rockport” or “the Company”), a leading global footwear brand known for its superior comfort, announced that it, CB Marathon Midco, LLC, Rockport IP Holdings, LLC, Rockport UK Holdings Ltd. and CB Footwear Services, LLC have commenced voluntary proceedings under Chapter 11 of the United States Bankruptcy Code in the District of Delaware in order to review and restructure its assets for the benefit of all stakeholders and to better position the brand for future growth opportunities.
-
Where Are They Now? Catching up with prior SFNet 40 Under 40 Award winners
Jun 13, 2023From promotions to new jobs, award winners share their career advice for the class of 2023 winners and what they have learned.
-
Corcentric Secures $315 Million Senior Credit Facility
Jun 13, 2023Corcentric, a leading global provider of best-in-class procurement and finance solutions, announced today it secured a new $315 million senior credit facility. The capital raise consists of a $250 million senior secured asset-based loan revolver from Bank of America and JPMorgan Chase & Co. and a $65 million term loan from TCW Private Credit Group.
-
Legacy Corporate Lending Bolsters Leadership Team with Addition of Neal Mulford as Executive Vice President, Portfolio & Underwriting
Jun 12, 2023Legacy Corporate Lending, LLC (“Legacy”), an independent asset-based lending (ABL) company focused on serving the needs of middle market companies across North America, today announced Neil Mulford has joined the firm as Executive Vice President, Portfolio & Underwriting. Mr. Mulford will work closely with Legacy’s originations team and will be responsible for conducting the underwriting process and structuring and closing new transactions.
-
Henry Schein Enhances Liquidity Position With New $750 Million Credit Facility
Jul 13, 2023Henry Schein, Inc. (Nasdaq: HSIC), the world’s largest provider of health care solutions to office-based dental and medical professionals, today announced that it has closed on a new $750 million credit facility with a maturity date of July 2026. JP Morgan Securities LLC and U.S. Bank NA acted as Joint Lead Arrangers with respect to the new credit facility.
-
Shields Up: How Secured Lenders in Canada Can Protect Against Undervaluation in Insolvency Driven Sales Processes
Jul 11, 2023The present economic cycle distinguishes itself from previous credit crises due to the influence of unforeseeable elements that are driving inflationary pressures. Consequently, lenders find themselves navigating an extended period of ambiguity. Instead of encountering a swift surge of defaults, we anticipate a turbulent environment that demands the collective willingness of all involved parties to adapt terms and effectively address distress.
-
Secured Finance Foundation Releases Latest SFNet Market Pulse Report
Jul 11, 2023“The secured finance industry is far-reaching with intertwined sectors and an abundance of opportunity," said Jennifer Palmer, SFNet President and CEO and founder of JPalmer Collective. "In the last year, we’ve focused on building alliances with industry organizations and educating them about the financing options available. As a result, we’re seeing an increase in awareness – which we expect to translate to utilization – of secured finance and opportunities for many of our members.”
-
Houlihan Lokey to Acquire 7 Mile Advisors
Jul 10, 2023Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, has agreed to acquire 7 Mile Advisors (7MA), an independent advisory firm that provides a range of investment banking services to clients across the IT services sector. The transaction, signed July 7, further enhances Houlihan Lokey’s deep industry expertise in IT services and expands the firm’s geographic footprint.
-
First Citizens Bank Names Joe Kernan to Healthcare Finance Position
Jul 5, 2023First Citizens Bank today announced that its Healthcare Finance business, part of the bank’s CIT division, has named Joe Kernan as its new relationship manager. Kernan is based in Pasadena, CA (Los Angeles Metro) supporting healthcare clients in the Western U.S.
-
Monroe Capital Completes Acquisition of Horizon Technology Finance Management and Expands into Venture Debt
Jul 5, 2023Monroe Capital LLC (“Monroe”) today announced it has completed the acquisition of Horizon Technology Finance Management LLC (“Horizon”), a market leader in venture debt lending. Horizon is the investment adviser to Horizon Technology Finance Corporation (NASDAQ: HRZN).
-
Interview with Rosenthal’s Chief Lending Officer Paul Schuldiner and Director of Recourse Factoring Leigh Lones
Jul 5, 2023
Rosenthal & Rosenthal’s recourse factoring division, launched earlier this year, allows the company to look beyond the traditional industries served by non-recourse factoring. Here, Rosenthal’s chief lending officer, Paul Schuldiner, and director of Recourse Factoring, Leigh Lones, discuss the recourse factoring division and what they’re seeing in the industry.
-
SWK Holdings Corporation Announces New Credit Facility with $45 Million Committed at Close
Jun 29, 2023SWK Holdings Corporation (Nasdaq: SWKH) ("SWK" or the "Company"), a life science focused specialty finance company catering to small- and mid-sized commercial-stage companies, announced the signing of a new four-year credit facility with First Horizon Bank ("First Horizon").
-
U.S. Bank Names Jimmy Whang Head of Commercial Products
Jun 28, 2023U.S. Bank today announced that Jimmy Whang has been named the head of its Commercial Products group, effective June 30. In this role, Whang will lead Fixed Income and Capital Markets (Capital Markets and Sponsor Finance; Credit Fixed Income; Structured Credit; Derivatives; Foreign Exchange; Municipal Products; and ESG strategies) and Working Capital Finance (Asset Based Finance; Global Trade and Supply Chain Finance).
-
Rosenthal Names Andrew O’Day VP Business Development Officer
Jun 27, 2023Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending (ABL), purchase order financing, d2c and e-commerce inventory financing firm in the United States, today announced that Andrew O’Day has joined Rosenthal as a VP Business Development Officer for the Midwest region.
-
Overall Lender Confidence Still Positive in First Quarter, But Down from the End of 2022
Jun 27, 2023
Non-banks more bullish, banks more bearish about new business demand, hiring and client utilization for asset-based lending
-
SFNet Member Spotlight: nFusion Capital
Jun 26, 2023
Fusion Capital Finance
6444 Burnet Rd., Ste 100
Austin, TX 78757
nFusioncapital.com
nFusion Capital is a private working capital finance company, headquartered in Austin, TX, providing customized financing solutions to small- and medium-sized businesses nationwide. Led by a team of entrepreneurs, all of who were business owners before lenders, we have a unique approach to the world of business finance. We are optimists, starting from a position of “yes we can” and aggressively work on behalf of our customers to ensure their success.
-
SFNet Wins Safe Harbor Fight in California
Jun 26, 2023
Last Tuesday, the California Assembly Judiciary Committee voted in favor of a measure that will amend the CA SB 1235 disclosure law to provide an explicit safe harbor protecting asset-based lenders and factors who provide a good faith estimate of APR in compliance with the regulations from any liability should that estimate differ from the actual APR. The measure now moves to a vote in the Assembly and is expected to be signed by the governor by mid-July. This was a critically important concession given the fundamental challenges SFNet has contended exist in using APR as a basis of comparison for secured finance products.
-
Slide Insurance Raises Additional $35 Million of Capital
Jun 22, 2023Slide Insurance, a full-stack insurtech focused on homeowners insurance, announced today the closing of a $35 million senior credit facility with Regions Bank.
-
Cybersecurity: What Lenders Need to Know
Jun 21, 2023Business disaster is only a click away. Cyberattacks are becoming an epidemic affecting all businesses. A single mishap can critically impair business operations or even shut down operations entirely resulting in catastrophic financial and reputational damage.
-
Holland & Knight Strengthens Finance Practice in Los Angeles with Additions of Hamid Namazie, Yoojin Lee and Mark Spitzer
Jun 21, 2023Hamid Namazie, Yoojin Lee and Mark Spitzer, three highly regarded finance attorneys in Los Angeles, have joined Holland & Knight's Financial Services Team as partners. They will also be members of the firm's Asset-Based Lending Team. Mr. Namazie, Ms. Lee and Mr. Spitzer join the firm from McGuireWoods LLP, where Mr. Namazie served as managing partner of the firm's downtown Los Angeles office.
-
The Rockport Company Looks to Sell Assets and Pursue Financial Reorganization
Jun 16, 2023The Rockport Company, LLC (“Rockport” or “the Company”), a leading global footwear brand known for its superior comfort, announced that it, CB Marathon Midco, LLC, Rockport IP Holdings, LLC, Rockport UK Holdings Ltd. and CB Footwear Services, LLC have commenced voluntary proceedings under Chapter 11 of the United States Bankruptcy Code in the District of Delaware in order to review and restructure its assets for the benefit of all stakeholders and to better position the brand for future growth opportunities.
-
Where Are They Now? Catching up with prior SFNet 40 Under 40 Award winners
Jun 13, 2023From promotions to new jobs, award winners share their career advice for the class of 2023 winners and what they have learned.
-
Corcentric Secures $315 Million Senior Credit Facility
Jun 13, 2023Corcentric, a leading global provider of best-in-class procurement and finance solutions, announced today it secured a new $315 million senior credit facility. The capital raise consists of a $250 million senior secured asset-based loan revolver from Bank of America and JPMorgan Chase & Co. and a $65 million term loan from TCW Private Credit Group.
-
Legacy Corporate Lending Bolsters Leadership Team with Addition of Neal Mulford as Executive Vice President, Portfolio & Underwriting
Jun 12, 2023Legacy Corporate Lending, LLC (“Legacy”), an independent asset-based lending (ABL) company focused on serving the needs of middle market companies across North America, today announced Neil Mulford has joined the firm as Executive Vice President, Portfolio & Underwriting. Mr. Mulford will work closely with Legacy’s originations team and will be responsible for conducting the underwriting process and structuring and closing new transactions.
-
Henry Schein Enhances Liquidity Position With New $750 Million Credit Facility
Jul 13, 2023Henry Schein, Inc. (Nasdaq: HSIC), the world’s largest provider of health care solutions to office-based dental and medical professionals, today announced that it has closed on a new $750 million credit facility with a maturity date of July 2026. JP Morgan Securities LLC and U.S. Bank NA acted as Joint Lead Arrangers with respect to the new credit facility.
-
Shields Up: How Secured Lenders in Canada Can Protect Against Undervaluation in Insolvency Driven Sales Processes
Jul 11, 2023The present economic cycle distinguishes itself from previous credit crises due to the influence of unforeseeable elements that are driving inflationary pressures. Consequently, lenders find themselves navigating an extended period of ambiguity. Instead of encountering a swift surge of defaults, we anticipate a turbulent environment that demands the collective willingness of all involved parties to adapt terms and effectively address distress.
-
Secured Finance Foundation Releases Latest SFNet Market Pulse Report
Jul 11, 2023“The secured finance industry is far-reaching with intertwined sectors and an abundance of opportunity," said Jennifer Palmer, SFNet President and CEO and founder of JPalmer Collective. "In the last year, we’ve focused on building alliances with industry organizations and educating them about the financing options available. As a result, we’re seeing an increase in awareness – which we expect to translate to utilization – of secured finance and opportunities for many of our members.”
-
Houlihan Lokey to Acquire 7 Mile Advisors
Jul 10, 2023Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, has agreed to acquire 7 Mile Advisors (7MA), an independent advisory firm that provides a range of investment banking services to clients across the IT services sector. The transaction, signed July 7, further enhances Houlihan Lokey’s deep industry expertise in IT services and expands the firm’s geographic footprint.
-
First Citizens Bank Names Joe Kernan to Healthcare Finance Position
Jul 5, 2023First Citizens Bank today announced that its Healthcare Finance business, part of the bank’s CIT division, has named Joe Kernan as its new relationship manager. Kernan is based in Pasadena, CA (Los Angeles Metro) supporting healthcare clients in the Western U.S.
-
Monroe Capital Completes Acquisition of Horizon Technology Finance Management and Expands into Venture Debt
Jul 5, 2023Monroe Capital LLC (“Monroe”) today announced it has completed the acquisition of Horizon Technology Finance Management LLC (“Horizon”), a market leader in venture debt lending. Horizon is the investment adviser to Horizon Technology Finance Corporation (NASDAQ: HRZN).
-
Interview with Rosenthal’s Chief Lending Officer Paul Schuldiner and Director of Recourse Factoring Leigh Lones
Jul 5, 2023
Rosenthal & Rosenthal’s recourse factoring division, launched earlier this year, allows the company to look beyond the traditional industries served by non-recourse factoring. Here, Rosenthal’s chief lending officer, Paul Schuldiner, and director of Recourse Factoring, Leigh Lones, discuss the recourse factoring division and what they’re seeing in the industry.
-
SWK Holdings Corporation Announces New Credit Facility with $45 Million Committed at Close
Jun 29, 2023SWK Holdings Corporation (Nasdaq: SWKH) ("SWK" or the "Company"), a life science focused specialty finance company catering to small- and mid-sized commercial-stage companies, announced the signing of a new four-year credit facility with First Horizon Bank ("First Horizon").
-
U.S. Bank Names Jimmy Whang Head of Commercial Products
Jun 28, 2023U.S. Bank today announced that Jimmy Whang has been named the head of its Commercial Products group, effective June 30. In this role, Whang will lead Fixed Income and Capital Markets (Capital Markets and Sponsor Finance; Credit Fixed Income; Structured Credit; Derivatives; Foreign Exchange; Municipal Products; and ESG strategies) and Working Capital Finance (Asset Based Finance; Global Trade and Supply Chain Finance).
-
Rosenthal Names Andrew O’Day VP Business Development Officer
Jun 27, 2023Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending (ABL), purchase order financing, d2c and e-commerce inventory financing firm in the United States, today announced that Andrew O’Day has joined Rosenthal as a VP Business Development Officer for the Midwest region.
-
Overall Lender Confidence Still Positive in First Quarter, But Down from the End of 2022
Jun 27, 2023
Non-banks more bullish, banks more bearish about new business demand, hiring and client utilization for asset-based lending
-
SFNet Member Spotlight: nFusion Capital
Jun 26, 2023
Fusion Capital Finance
6444 Burnet Rd., Ste 100
Austin, TX 78757
nFusioncapital.com
nFusion Capital is a private working capital finance company, headquartered in Austin, TX, providing customized financing solutions to small- and medium-sized businesses nationwide. Led by a team of entrepreneurs, all of who were business owners before lenders, we have a unique approach to the world of business finance. We are optimists, starting from a position of “yes we can” and aggressively work on behalf of our customers to ensure their success.
-
SFNet Wins Safe Harbor Fight in California
Jun 26, 2023
Last Tuesday, the California Assembly Judiciary Committee voted in favor of a measure that will amend the CA SB 1235 disclosure law to provide an explicit safe harbor protecting asset-based lenders and factors who provide a good faith estimate of APR in compliance with the regulations from any liability should that estimate differ from the actual APR. The measure now moves to a vote in the Assembly and is expected to be signed by the governor by mid-July. This was a critically important concession given the fundamental challenges SFNet has contended exist in using APR as a basis of comparison for secured finance products.
-
Slide Insurance Raises Additional $35 Million of Capital
Jun 22, 2023Slide Insurance, a full-stack insurtech focused on homeowners insurance, announced today the closing of a $35 million senior credit facility with Regions Bank.
-
Cybersecurity: What Lenders Need to Know
Jun 21, 2023Business disaster is only a click away. Cyberattacks are becoming an epidemic affecting all businesses. A single mishap can critically impair business operations or even shut down operations entirely resulting in catastrophic financial and reputational damage.
-
Holland & Knight Strengthens Finance Practice in Los Angeles with Additions of Hamid Namazie, Yoojin Lee and Mark Spitzer
Jun 21, 2023Hamid Namazie, Yoojin Lee and Mark Spitzer, three highly regarded finance attorneys in Los Angeles, have joined Holland & Knight's Financial Services Team as partners. They will also be members of the firm's Asset-Based Lending Team. Mr. Namazie, Ms. Lee and Mr. Spitzer join the firm from McGuireWoods LLP, where Mr. Namazie served as managing partner of the firm's downtown Los Angeles office.
-
The Rockport Company Looks to Sell Assets and Pursue Financial Reorganization
Jun 16, 2023The Rockport Company, LLC (“Rockport” or “the Company”), a leading global footwear brand known for its superior comfort, announced that it, CB Marathon Midco, LLC, Rockport IP Holdings, LLC, Rockport UK Holdings Ltd. and CB Footwear Services, LLC have commenced voluntary proceedings under Chapter 11 of the United States Bankruptcy Code in the District of Delaware in order to review and restructure its assets for the benefit of all stakeholders and to better position the brand for future growth opportunities.
-
Where Are They Now? Catching up with prior SFNet 40 Under 40 Award winners
Jun 13, 2023From promotions to new jobs, award winners share their career advice for the class of 2023 winners and what they have learned.
-
Corcentric Secures $315 Million Senior Credit Facility
Jun 13, 2023Corcentric, a leading global provider of best-in-class procurement and finance solutions, announced today it secured a new $315 million senior credit facility. The capital raise consists of a $250 million senior secured asset-based loan revolver from Bank of America and JPMorgan Chase & Co. and a $65 million term loan from TCW Private Credit Group.
-
Legacy Corporate Lending Bolsters Leadership Team with Addition of Neal Mulford as Executive Vice President, Portfolio & Underwriting
Jun 12, 2023Legacy Corporate Lending, LLC (“Legacy”), an independent asset-based lending (ABL) company focused on serving the needs of middle market companies across North America, today announced Neil Mulford has joined the firm as Executive Vice President, Portfolio & Underwriting. Mr. Mulford will work closely with Legacy’s originations team and will be responsible for conducting the underwriting process and structuring and closing new transactions.
