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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.
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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.
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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.
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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.
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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.
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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.
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Navigating Economic, Professional and Personal Change at SFNet's 2023 Women in Secured Finance Conference
Jun 12, 2023“We have a great agenda planned for this year,” said WISF Committee Chair Laura Kemper Glass, and SVP, East Region Senior Portfolio Manager, Bank of America, N.A. “We’re bringing back, by popular demand, the small group Roundtable discussions on personal and professional change, which provide a great opportunity for intimate networking with others in the industry.” -
Merit Medical Announces New Five-Year Senior Secured Credit Agreement
Jun 8, 2023The credit agreement includes a revolving credit facility in an aggregate principal amount of up to $700 million and a term loan facility in an aggregate principal amount of up to $150 million. Wells Fargo Bank, National Association is acting as administrative agent for a group of financial institutions providing the new credit facilities.
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SLR Digital Finance Closes $10 Million Line of Credit for a Minority-owned Media Business
Jun 6, 2023
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SFNet 2023 Market Sizing Study Documents a Mammoth-Sized $4.866-Trillion U.S. Secured Finance Market
Jun 6, 2023The Secured Finance Network’s (SFNet) new Secured Finance Market Sizing and Impact Study reports that the total secured financing volume of transaction flows to U.S. commercial businesses in 2022 was nearly $4.9 trillion. In other words, the scope of this market, which comprises seven major financing categories, “underpins, either directly or indirectly, over one-fifth of…the transaction volumes that make up the $23 trillion in U.S. Gross Domestic Product (GDP),” according to the study.
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SFNet Member Spotlight: Legacy Corporate Lending, LLC
Jun 5, 2023Legacy Corporate Lending is an independent asset-based lending company within the middle market. Legacy provides revolving lines of credit and term loan commitments from $10 to $40 million in transaction size. -
Gordon Brothers Appoints Peter B. York as Senior Advisor to the Executive Team
Jun 5, 2023Gordon Brothers, the global advisory and investment firm, has appointed Peter B. York as Senior Advisor to support the executive team with the firm’s growth and expansion plans.
York will leverage his experience in asset-based lending (ABL), capital markets and secured lending to provide advice and counsel to the business, assist with evaluating capital deployment for Gordon Brothers’ global lending practice, and give strategic and tactical advice on the structuring of loan products. -
Heritage Global Announces New Upsized $17 Million Credit Facility with C3bank
Jun 1, 2023Heritage Global Inc. (NASDAQ: HGBL) (“Heritage Global,” “HG” or “the Company”), an asset services company specializing in financial and industrial asset transactions, today announced an upsized $17 million credit facility with C3bank which includes the renewal of its existing $10 million line of credit as well as a new $7 million term loan.
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SLR Credit Solutions Agents Term Loan and Wells Fargo Provides Line of Credit For Skullcandy®
Jun 1, 2023
Massachusetts – SLR Credit Solutions (“SLR CS”) announced the closing of a secured first lien term loan in concert with a new revolving line of credit from Wells Fargo for Skullcandy, Inc.® (“Skullcandy”) or the (“Company”).
Proceeds from the financing were used to refinance existing debt and provide enhanced flexibility.
-
Interview with Sarah House, Senior Economist for Wells Fargo’s Corporate and Investment Bank
Jun 1, 2023Sarah House is a managing director and senior economist for Wells Fargo’s Corporate and Investment Bank. Based in Charlotte, NC, she covers the U.S. macro economy, including the labor market, inflation trends, and monetary policy. Sarah frequently speaks about the economy to the national media, including The Wall Street Journal, Bloomberg News, CNBC and National Public Radio. She will be speaking at the SFNet’s Women in Secured Finance Conference on June 15. -
MidCap Financial Closes $44mm Senior Secured Credit Facility to AleraCare
May 30, 2023MidCap Financial, a leading commercial finance company focused on middle market transactions, today announced it has provided a $44mm senior secured credit facility to AleraCare Intermediate, LLC (“AleraCare” or “Company”).
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Sparks Announced the Closing of a One-Year Extension of its $43 Million Revolving Credit Facility with Renzo Capital Corp.
May 30, 2023Renzo Capital Corp. Sparks announced the closing of a one-year extension of its $43 million revolving credit facility with Renzo Capital Corp.
-
The Use of Covenants in a Discretionary Factoring Facility
May 30, 2023SFNet’s Crucial Conversations webinar, “The Value and Effective Use of Covenants in a Factoring Transaction,”
focused on why covenants are needed in a discretionary factoring facility; covenant types and reporting frequency; the art of picking the right covenant(s) and more. Here, panelist Hugh Larratt-Smith provides a recap of the webinar.
-
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.
-
Navigating Economic, Professional and Personal Change at SFNet's 2023 Women in Secured Finance Conference
Jun 12, 2023“We have a great agenda planned for this year,” said WISF Committee Chair Laura Kemper Glass, and SVP, East Region Senior Portfolio Manager, Bank of America, N.A. “We’re bringing back, by popular demand, the small group Roundtable discussions on personal and professional change, which provide a great opportunity for intimate networking with others in the industry.”
-
Merit Medical Announces New Five-Year Senior Secured Credit Agreement
Jun 8, 2023The credit agreement includes a revolving credit facility in an aggregate principal amount of up to $700 million and a term loan facility in an aggregate principal amount of up to $150 million. Wells Fargo Bank, National Association is acting as administrative agent for a group of financial institutions providing the new credit facilities.
-
SLR Digital Finance Closes $10 Million Line of Credit for a Minority-owned Media Business
Jun 6, 2023
-
SFNet 2023 Market Sizing Study Documents a Mammoth-Sized $4.866-Trillion U.S. Secured Finance Market
Jun 6, 2023The Secured Finance Network’s (SFNet) new Secured Finance Market Sizing and Impact Study reports that the total secured financing volume of transaction flows to U.S. commercial businesses in 2022 was nearly $4.9 trillion. In other words, the scope of this market, which comprises seven major financing categories, “underpins, either directly or indirectly, over one-fifth of…the transaction volumes that make up the $23 trillion in U.S. Gross Domestic Product (GDP),” according to the study.
-
SFNet Member Spotlight: Legacy Corporate Lending, LLC
Jun 5, 2023Legacy Corporate Lending is an independent asset-based lending company within the middle market. Legacy provides revolving lines of credit and term loan commitments from $10 to $40 million in transaction size.
-
Gordon Brothers Appoints Peter B. York as Senior Advisor to the Executive Team
Jun 5, 2023Gordon Brothers, the global advisory and investment firm, has appointed Peter B. York as Senior Advisor to support the executive team with the firm’s growth and expansion plans.
York will leverage his experience in asset-based lending (ABL), capital markets and secured lending to provide advice and counsel to the business, assist with evaluating capital deployment for Gordon Brothers’ global lending practice, and give strategic and tactical advice on the structuring of loan products. -
Heritage Global Announces New Upsized $17 Million Credit Facility with C3bank
Jun 1, 2023Heritage Global Inc. (NASDAQ: HGBL) (“Heritage Global,” “HG” or “the Company”), an asset services company specializing in financial and industrial asset transactions, today announced an upsized $17 million credit facility with C3bank which includes the renewal of its existing $10 million line of credit as well as a new $7 million term loan.
-
SLR Credit Solutions Agents Term Loan and Wells Fargo Provides Line of Credit For Skullcandy®
Jun 1, 2023
Massachusetts – SLR Credit Solutions (“SLR CS”) announced the closing of a secured first lien term loan in concert with a new revolving line of credit from Wells Fargo for Skullcandy, Inc.® (“Skullcandy”) or the (“Company”).
Proceeds from the financing were used to refinance existing debt and provide enhanced flexibility.
-
Interview with Sarah House, Senior Economist for Wells Fargo’s Corporate and Investment Bank
Jun 1, 2023Sarah House is a managing director and senior economist for Wells Fargo’s Corporate and Investment Bank. Based in Charlotte, NC, she covers the U.S. macro economy, including the labor market, inflation trends, and monetary policy. Sarah frequently speaks about the economy to the national media, including The Wall Street Journal, Bloomberg News, CNBC and National Public Radio. She will be speaking at the SFNet’s Women in Secured Finance Conference on June 15.
-
MidCap Financial Closes $44mm Senior Secured Credit Facility to AleraCare
May 30, 2023MidCap Financial, a leading commercial finance company focused on middle market transactions, today announced it has provided a $44mm senior secured credit facility to AleraCare Intermediate, LLC (“AleraCare” or “Company”).
-
Sparks Announced the Closing of a One-Year Extension of its $43 Million Revolving Credit Facility with Renzo Capital Corp.
May 30, 2023Renzo Capital Corp. Sparks announced the closing of a one-year extension of its $43 million revolving credit facility with Renzo Capital Corp.
-
The Use of Covenants in a Discretionary Factoring Facility
May 30, 2023
SFNet’s Crucial Conversations webinar, “The Value and Effective Use of Covenants in a Factoring Transaction,”
focused on why covenants are needed in a discretionary factoring facility; covenant types and reporting frequency; the art of picking the right covenant(s) and more. Here, panelist Hugh Larratt-Smith provides a recap of the webinar.
-
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.
-
Navigating Economic, Professional and Personal Change at SFNet's 2023 Women in Secured Finance Conference
Jun 12, 2023“We have a great agenda planned for this year,” said WISF Committee Chair Laura Kemper Glass, and SVP, East Region Senior Portfolio Manager, Bank of America, N.A. “We’re bringing back, by popular demand, the small group Roundtable discussions on personal and professional change, which provide a great opportunity for intimate networking with others in the industry.”
-
Merit Medical Announces New Five-Year Senior Secured Credit Agreement
Jun 8, 2023The credit agreement includes a revolving credit facility in an aggregate principal amount of up to $700 million and a term loan facility in an aggregate principal amount of up to $150 million. Wells Fargo Bank, National Association is acting as administrative agent for a group of financial institutions providing the new credit facilities.
-
SLR Digital Finance Closes $10 Million Line of Credit for a Minority-owned Media Business
Jun 6, 2023
-
SFNet 2023 Market Sizing Study Documents a Mammoth-Sized $4.866-Trillion U.S. Secured Finance Market
Jun 6, 2023The Secured Finance Network’s (SFNet) new Secured Finance Market Sizing and Impact Study reports that the total secured financing volume of transaction flows to U.S. commercial businesses in 2022 was nearly $4.9 trillion. In other words, the scope of this market, which comprises seven major financing categories, “underpins, either directly or indirectly, over one-fifth of…the transaction volumes that make up the $23 trillion in U.S. Gross Domestic Product (GDP),” according to the study.
-
SFNet Member Spotlight: Legacy Corporate Lending, LLC
Jun 5, 2023Legacy Corporate Lending is an independent asset-based lending company within the middle market. Legacy provides revolving lines of credit and term loan commitments from $10 to $40 million in transaction size.
-
Gordon Brothers Appoints Peter B. York as Senior Advisor to the Executive Team
Jun 5, 2023Gordon Brothers, the global advisory and investment firm, has appointed Peter B. York as Senior Advisor to support the executive team with the firm’s growth and expansion plans.
York will leverage his experience in asset-based lending (ABL), capital markets and secured lending to provide advice and counsel to the business, assist with evaluating capital deployment for Gordon Brothers’ global lending practice, and give strategic and tactical advice on the structuring of loan products. -
Heritage Global Announces New Upsized $17 Million Credit Facility with C3bank
Jun 1, 2023Heritage Global Inc. (NASDAQ: HGBL) (“Heritage Global,” “HG” or “the Company”), an asset services company specializing in financial and industrial asset transactions, today announced an upsized $17 million credit facility with C3bank which includes the renewal of its existing $10 million line of credit as well as a new $7 million term loan.
-
SLR Credit Solutions Agents Term Loan and Wells Fargo Provides Line of Credit For Skullcandy®
Jun 1, 2023
Massachusetts – SLR Credit Solutions (“SLR CS”) announced the closing of a secured first lien term loan in concert with a new revolving line of credit from Wells Fargo for Skullcandy, Inc.® (“Skullcandy”) or the (“Company”).
Proceeds from the financing were used to refinance existing debt and provide enhanced flexibility.
-
Interview with Sarah House, Senior Economist for Wells Fargo’s Corporate and Investment Bank
Jun 1, 2023Sarah House is a managing director and senior economist for Wells Fargo’s Corporate and Investment Bank. Based in Charlotte, NC, she covers the U.S. macro economy, including the labor market, inflation trends, and monetary policy. Sarah frequently speaks about the economy to the national media, including The Wall Street Journal, Bloomberg News, CNBC and National Public Radio. She will be speaking at the SFNet’s Women in Secured Finance Conference on June 15.
-
MidCap Financial Closes $44mm Senior Secured Credit Facility to AleraCare
May 30, 2023MidCap Financial, a leading commercial finance company focused on middle market transactions, today announced it has provided a $44mm senior secured credit facility to AleraCare Intermediate, LLC (“AleraCare” or “Company”).
-
Sparks Announced the Closing of a One-Year Extension of its $43 Million Revolving Credit Facility with Renzo Capital Corp.
May 30, 2023Renzo Capital Corp. Sparks announced the closing of a one-year extension of its $43 million revolving credit facility with Renzo Capital Corp.
-
The Use of Covenants in a Discretionary Factoring Facility
May 30, 2023
SFNet’s Crucial Conversations webinar, “The Value and Effective Use of Covenants in a Factoring Transaction,”
focused on why covenants are needed in a discretionary factoring facility; covenant types and reporting frequency; the art of picking the right covenant(s) and more. Here, panelist Hugh Larratt-Smith provides a recap of the webinar.