- KeyBank Expands Commercial Banking Teams in Chicago and Southern California to Serve the Middle Market
- Provident Expands Commercial Lending Team as Part of Regional Growth Strategy for Eastern Pennsylvania
- Appraisers See a Mixed Picture for Valuations
- SLR Business Credit Adds Mark J. Simshauser as Senior Vice President Supporting Growth in Northeast US
- Bob Seidenberger Joins Franklin Capital as VP of Sales
-
SFFound and DEI Committee Launch Second Iteration of Spring Mentorship Program
May 9, 2023The program is designed to encourage diversity and foster inclusivity by enabling established veterans in the secured finance industry and those new to their careers to build relationships and learn from one another through a virtual mentoring initiative.
-
CIT Commercial Services Announces New Appointments
May 8, 2023Tom Fingleton, who has served as Northeast regional manager since March 2019, has been named chief strategy officer. Moving into the role as Northeast regional manager is Amna Mahmood, a managing director who has served as Commercial Services’ national underwriting manager since 2019. Succeeding Mahmood in the role of national underwriting manager is Daniel Goll.
-
SFNet Member Spotlight: Sound Point Capital Management, LP
May 8, 2023Sound Point Capital Management, LP
375 Park Avenue, 33rd Floor
New York, NY 10152
www.soundpointcap.com
Sound Point Capital Management, LP is an asset management firm founded in 2008 with particular expertise in credit strategies. -
US Capital Global Launches Global M&A Division for the Emerging Growth and Middle Market Arena
-
SVB Financial Must Wait in Line for Its $2 Billion, FDIC Says
May 8, 2023Before SVB Financial Group bondholders can collect the billions they are owed, the bankrupt company may have to file a claim with the Federal Deposit Insurance Corp. to recover $2 billion worth of deposits trapped by the receivership of Silicon Valley Bank.
-
Entrepreneur Growth Capital LLC Completes $8.0 Million Credit Facility for Wholesale Distributor Company
May 4, 2023The facility includes a $4 million revolver and a $4 million term loan that will repay existing debt, support current operations and permit management to pursue several growth strategies.
-
Nonbank Lenders Take Note of Venture Lending Opportunities
May 4, 2023
As VC markets cool, more cash-starved companies are turning to venture lending to tide them over until a new equity round is possible. Lenders are taking note—but it may not be the lenders one would expect.
In this Q&A with Jennifer Post, managing partner of Thompson Coburn LLP’s Los Angeles office, she discusses if recession fears are slowing down equity markets, if start-ups are depending more on risky “uncommon players” for venture capital and other critical challenges startups face.
-
Accord Financial Adds to U.S. Business Development Team with Ira Almond and Sahil Sharma
Each is responsible for developing partnerships across a broad range of industries providing creative equipment financing solutions to middle market businesses while expanding and deepening Accord’s relationships within the independent sponsor and intermediary communities.
-
SFNet Member Spotlight: Infinity ABL Services, LLC
Infinity ABL Services, LLC
1121 Mason Ave.
Drexel Hill, PA 19026-2509
https://www.infinityabl.comInfinity ABL provides field exam services for banks and other commercial finance institutions. Infinity ABL, created in February 2021, has three partners with extensive ABL knowledge.
-
Hitting Their Stride: Secured Finance Professionals Discuss Keys to Developing Confidence
What is it about some women that makes them seem fearless and unflappable? Here, we interview three women, Phyllis Young, partner, McGuireWoods LLP; Jan Bellah chief operating officer, Pay4Freight LLC; Jennifer Cann, senior vice president and head of the Retail Finance Group Portfolio, Bank of America, N.A. with very different careers in the financial industry who seem to have figured out the key to feeling and appearing confident and effective in the workplace.
-
Interview with Melissa Mok, Director of Asset-Based Lending Originations, Truist Securities
The Women in Secured Finance e-newsletter's feature interview for this issue is with Melissa Mok, director of asset-based lending for Truist Securities. Mok joined Truist Securities in 2014. Located in Texas, she is responsible for ABL originations of mid- and large-cap companies and is currently focused on the Financial Services, Energy and Industrial Services. TMT and TME industry verticals.
-
Wingspire Capital Provides $30 Million Revolver to GTT Communications
May 2, 2023Wingspire Capital LLC (“Wingspire”) was pleased to provide a $30 million senior secured credit facility to GTT Communications (“GTT”), a global provider of managed secure networking services for large enterprise and carrier clients.
-
Citizens Leads $750 Million Credit Facility for Hexcel Corporation
May 1, 2023
Citizens is leading a $750 million senior credit facility for Stamford, CT-based Hexcel Corporation.
Founded in 1948, Hexcel is a leading advanced composites company specializing in the development, manufacturing, and marketing of lightweight, high-performance materials, including carbon fibers, reinforcements, prepregs, honeycomb, matrix systems, adhesives, and composite structures for use in commercial aerospace, space and defense, and industrial applications.
-
SFNet’s Emerging Leaders Summit, Mid-Year Roundtables to Offer More Networking Opportunities
May 1, 2023SFNet’s Emerging Leaders Summit (formerly YoPro Leadership Summit) will be held in Florida for the first time since its inception in 2018. This year, SFNet is adding Mid-Year Member Roundtables, a CEO Roundtable (invitation only), and a Chapter Presidents meeting held in conjunction with the Summit, May 22-23, 2023 at the Innisbrook Resort in Palm Harbor, FL.
“Our younger members have told us they want to build relationships with cohorts at all levels of experience and influence as well as with their peers,” said Rich Gumbrecht, CEO, SFNet. “So, we tried something new this year by coupling our Mid-Year Member Roundtables and Chapter Presidents meeting with the Emerging Leader Summit. We programmed lots of interconnectivity through social events and shared programming to create a contact-rich environment.” -
JPMorgan Chase Acquires Substantial Majority of Assets and Assumes Certain Liabilities of First Republic Bank
May 1, 2023JPMorgan Chase (NYSE: JPM) today announced it has acquired the substantial majority of assets and assumed the deposits and certain other liabilities of First Republic Bank from the Federal Deposit Insurance Corporation (FDIC). In carrying out this transaction, JPMorgan Chase is supporting the U.S. financial system through its significant strength and execution capabilities. As part of the purchase, JPMorgan Chase is assuming all deposits – insured and uninsured.
-
First Citizens Bank Provides $16 Million in Financing to FitLife Brands, Inc.
Apr 27, 2023First Citizens Bank today announced that its Middle Market Banking business provided $16 million in financing to FitLife Brands, Inc., a provider of innovative and proprietary nutritional supplements headquartered in Omaha, Nebraska.
-
Steven Bellah Joins KCP Advisory Group
Apr 26, 2023KCP Advisory Group is excited to announce the merger of the Remuda Advisors consulting group into KCP and the appointment of Steven Bellah as Senior Managing Director. In this role, Mr. Bellah will head the Dallas office and will also serve as the practice leader for the Lender Services Group. He will be a key contributor to helping KCP maintain its accomplished Turnaround and Restructuring practice and will be a senior presence developing and supporting the business, working across the practice groups.
-
SFNet Asset-Based Lending and Factoring Annual Survey Results Show Strong Performance
Apr 26, 2023
SFNet surveyed bank and non-bank lenders on 2022 performance and 2023 outlook
NEW YORK, NY,April 26, 2023 ─ There was solid growth in commitments and outstandings in the asset-based lending market last year and portfolio performance was strong, according to data released by the Secured Finance Network. The factoring industry proved similarly resilient in a challenging economy and began 2023 on a positive note.
Lender confidence held steady, as well, with banks and non-bank lenders maintaining a positive outlook despite inflation and higher interest rates. In the most recent Confidence Index, they pointed to the industry’s resiliency and had high expectations in the demand for new business, hiring and client utilization.
-
MidCap Financial Closes Senior Revolving Credit Facility to Shimmick
Apr 24, 2023MidCap Financial, a leading commercial finance company focused on middle market transactions, today announced it has provided a senior revolving credit facility to SCCI National Holdings, Inc. (“Shimmick” or “Company”). Proceeds from the MidCap credit facility will provide for the business’ ongoing working capital needs.
-
ABLs, Bitcoin Miners and Monetizing Stranded Energy
Apr 24, 2023This article discusses the bitcoin mining industry’s role in providing demand support to energy producers by monetizing otherwise stranded energy produced from oil drilling and solar and wind facilities. Consumption of stranded energy by bitcoin miners should help secured lenders underwrite loans, because it can reduce air pollution resulting from natural gas flaring and improve life cycle economics of renewable energy sources.
-
SFFound and DEI Committee Launch Second Iteration of Spring Mentorship Program
May 9, 2023The program is designed to encourage diversity and foster inclusivity by enabling established veterans in the secured finance industry and those new to their careers to build relationships and learn from one another through a virtual mentoring initiative.
-
CIT Commercial Services Announces New Appointments
May 8, 2023Tom Fingleton, who has served as Northeast regional manager since March 2019, has been named chief strategy officer. Moving into the role as Northeast regional manager is Amna Mahmood, a managing director who has served as Commercial Services’ national underwriting manager since 2019. Succeeding Mahmood in the role of national underwriting manager is Daniel Goll.
-
SFNet Member Spotlight: Sound Point Capital Management, LP
May 8, 2023Sound Point Capital Management, LP
375 Park Avenue, 33rd Floor
New York, NY 10152
www.soundpointcap.com
Sound Point Capital Management, LP is an asset management firm founded in 2008 with particular expertise in credit strategies. -
US Capital Global Launches Global M&A Division for the Emerging Growth and Middle Market Arena
-
SVB Financial Must Wait in Line for Its $2 Billion, FDIC Says
May 8, 2023Before SVB Financial Group bondholders can collect the billions they are owed, the bankrupt company may have to file a claim with the Federal Deposit Insurance Corp. to recover $2 billion worth of deposits trapped by the receivership of Silicon Valley Bank.
-
Entrepreneur Growth Capital LLC Completes $8.0 Million Credit Facility for Wholesale Distributor Company
May 4, 2023The facility includes a $4 million revolver and a $4 million term loan that will repay existing debt, support current operations and permit management to pursue several growth strategies.
-
Nonbank Lenders Take Note of Venture Lending Opportunities
May 4, 2023
As VC markets cool, more cash-starved companies are turning to venture lending to tide them over until a new equity round is possible. Lenders are taking note—but it may not be the lenders one would expect.
In this Q&A with Jennifer Post, managing partner of Thompson Coburn LLP’s Los Angeles office, she discusses if recession fears are slowing down equity markets, if start-ups are depending more on risky “uncommon players” for venture capital and other critical challenges startups face.
-
Accord Financial Adds to U.S. Business Development Team with Ira Almond and Sahil Sharma
Each is responsible for developing partnerships across a broad range of industries providing creative equipment financing solutions to middle market businesses while expanding and deepening Accord’s relationships within the independent sponsor and intermediary communities.
-
SFNet Member Spotlight: Infinity ABL Services, LLC
Infinity ABL Services, LLC
1121 Mason Ave.
Drexel Hill, PA 19026-2509
https://www.infinityabl.comInfinity ABL provides field exam services for banks and other commercial finance institutions. Infinity ABL, created in February 2021, has three partners with extensive ABL knowledge.
-
Hitting Their Stride: Secured Finance Professionals Discuss Keys to Developing Confidence
What is it about some women that makes them seem fearless and unflappable? Here, we interview three women, Phyllis Young, partner, McGuireWoods LLP; Jan Bellah chief operating officer, Pay4Freight LLC; Jennifer Cann, senior vice president and head of the Retail Finance Group Portfolio, Bank of America, N.A. with very different careers in the financial industry who seem to have figured out the key to feeling and appearing confident and effective in the workplace.
-
Interview with Melissa Mok, Director of Asset-Based Lending Originations, Truist Securities
The Women in Secured Finance e-newsletter's feature interview for this issue is with Melissa Mok, director of asset-based lending for Truist Securities. Mok joined Truist Securities in 2014. Located in Texas, she is responsible for ABL originations of mid- and large-cap companies and is currently focused on the Financial Services, Energy and Industrial Services. TMT and TME industry verticals.
-
Wingspire Capital Provides $30 Million Revolver to GTT Communications
May 2, 2023Wingspire Capital LLC (“Wingspire”) was pleased to provide a $30 million senior secured credit facility to GTT Communications (“GTT”), a global provider of managed secure networking services for large enterprise and carrier clients.
-
Citizens Leads $750 Million Credit Facility for Hexcel Corporation
May 1, 2023
Citizens is leading a $750 million senior credit facility for Stamford, CT-based Hexcel Corporation.
Founded in 1948, Hexcel is a leading advanced composites company specializing in the development, manufacturing, and marketing of lightweight, high-performance materials, including carbon fibers, reinforcements, prepregs, honeycomb, matrix systems, adhesives, and composite structures for use in commercial aerospace, space and defense, and industrial applications.
-
SFNet’s Emerging Leaders Summit, Mid-Year Roundtables to Offer More Networking Opportunities
May 1, 2023SFNet’s Emerging Leaders Summit (formerly YoPro Leadership Summit) will be held in Florida for the first time since its inception in 2018. This year, SFNet is adding Mid-Year Member Roundtables, a CEO Roundtable (invitation only), and a Chapter Presidents meeting held in conjunction with the Summit, May 22-23, 2023 at the Innisbrook Resort in Palm Harbor, FL.
“Our younger members have told us they want to build relationships with cohorts at all levels of experience and influence as well as with their peers,” said Rich Gumbrecht, CEO, SFNet. “So, we tried something new this year by coupling our Mid-Year Member Roundtables and Chapter Presidents meeting with the Emerging Leader Summit. We programmed lots of interconnectivity through social events and shared programming to create a contact-rich environment.” -
JPMorgan Chase Acquires Substantial Majority of Assets and Assumes Certain Liabilities of First Republic Bank
May 1, 2023JPMorgan Chase (NYSE: JPM) today announced it has acquired the substantial majority of assets and assumed the deposits and certain other liabilities of First Republic Bank from the Federal Deposit Insurance Corporation (FDIC). In carrying out this transaction, JPMorgan Chase is supporting the U.S. financial system through its significant strength and execution capabilities. As part of the purchase, JPMorgan Chase is assuming all deposits – insured and uninsured.
-
First Citizens Bank Provides $16 Million in Financing to FitLife Brands, Inc.
Apr 27, 2023First Citizens Bank today announced that its Middle Market Banking business provided $16 million in financing to FitLife Brands, Inc., a provider of innovative and proprietary nutritional supplements headquartered in Omaha, Nebraska.
-
Steven Bellah Joins KCP Advisory Group
Apr 26, 2023KCP Advisory Group is excited to announce the merger of the Remuda Advisors consulting group into KCP and the appointment of Steven Bellah as Senior Managing Director. In this role, Mr. Bellah will head the Dallas office and will also serve as the practice leader for the Lender Services Group. He will be a key contributor to helping KCP maintain its accomplished Turnaround and Restructuring practice and will be a senior presence developing and supporting the business, working across the practice groups.
-
SFNet Asset-Based Lending and Factoring Annual Survey Results Show Strong Performance
Apr 26, 2023
SFNet surveyed bank and non-bank lenders on 2022 performance and 2023 outlook
NEW YORK, NY,April 26, 2023 ─ There was solid growth in commitments and outstandings in the asset-based lending market last year and portfolio performance was strong, according to data released by the Secured Finance Network. The factoring industry proved similarly resilient in a challenging economy and began 2023 on a positive note.
Lender confidence held steady, as well, with banks and non-bank lenders maintaining a positive outlook despite inflation and higher interest rates. In the most recent Confidence Index, they pointed to the industry’s resiliency and had high expectations in the demand for new business, hiring and client utilization.
-
MidCap Financial Closes Senior Revolving Credit Facility to Shimmick
Apr 24, 2023MidCap Financial, a leading commercial finance company focused on middle market transactions, today announced it has provided a senior revolving credit facility to SCCI National Holdings, Inc. (“Shimmick” or “Company”). Proceeds from the MidCap credit facility will provide for the business’ ongoing working capital needs.
-
ABLs, Bitcoin Miners and Monetizing Stranded Energy
Apr 24, 2023This article discusses the bitcoin mining industry’s role in providing demand support to energy producers by monetizing otherwise stranded energy produced from oil drilling and solar and wind facilities. Consumption of stranded energy by bitcoin miners should help secured lenders underwrite loans, because it can reduce air pollution resulting from natural gas flaring and improve life cycle economics of renewable energy sources.
-
SFFound and DEI Committee Launch Second Iteration of Spring Mentorship Program
May 9, 2023The program is designed to encourage diversity and foster inclusivity by enabling established veterans in the secured finance industry and those new to their careers to build relationships and learn from one another through a virtual mentoring initiative.
-
CIT Commercial Services Announces New Appointments
May 8, 2023Tom Fingleton, who has served as Northeast regional manager since March 2019, has been named chief strategy officer. Moving into the role as Northeast regional manager is Amna Mahmood, a managing director who has served as Commercial Services’ national underwriting manager since 2019. Succeeding Mahmood in the role of national underwriting manager is Daniel Goll.
-
SFNet Member Spotlight: Sound Point Capital Management, LP
May 8, 2023Sound Point Capital Management, LP
375 Park Avenue, 33rd Floor
New York, NY 10152
www.soundpointcap.com
Sound Point Capital Management, LP is an asset management firm founded in 2008 with particular expertise in credit strategies. -
US Capital Global Launches Global M&A Division for the Emerging Growth and Middle Market Arena
-
SVB Financial Must Wait in Line for Its $2 Billion, FDIC Says
May 8, 2023Before SVB Financial Group bondholders can collect the billions they are owed, the bankrupt company may have to file a claim with the Federal Deposit Insurance Corp. to recover $2 billion worth of deposits trapped by the receivership of Silicon Valley Bank.
-
Entrepreneur Growth Capital LLC Completes $8.0 Million Credit Facility for Wholesale Distributor Company
May 4, 2023The facility includes a $4 million revolver and a $4 million term loan that will repay existing debt, support current operations and permit management to pursue several growth strategies.
-
Nonbank Lenders Take Note of Venture Lending Opportunities
May 4, 2023
As VC markets cool, more cash-starved companies are turning to venture lending to tide them over until a new equity round is possible. Lenders are taking note—but it may not be the lenders one would expect.
In this Q&A with Jennifer Post, managing partner of Thompson Coburn LLP’s Los Angeles office, she discusses if recession fears are slowing down equity markets, if start-ups are depending more on risky “uncommon players” for venture capital and other critical challenges startups face.
-
Accord Financial Adds to U.S. Business Development Team with Ira Almond and Sahil Sharma
Each is responsible for developing partnerships across a broad range of industries providing creative equipment financing solutions to middle market businesses while expanding and deepening Accord’s relationships within the independent sponsor and intermediary communities.
-
SFNet Member Spotlight: Infinity ABL Services, LLC
Infinity ABL Services, LLC
1121 Mason Ave.
Drexel Hill, PA 19026-2509
https://www.infinityabl.comInfinity ABL provides field exam services for banks and other commercial finance institutions. Infinity ABL, created in February 2021, has three partners with extensive ABL knowledge.
-
Hitting Their Stride: Secured Finance Professionals Discuss Keys to Developing Confidence
What is it about some women that makes them seem fearless and unflappable? Here, we interview three women, Phyllis Young, partner, McGuireWoods LLP; Jan Bellah chief operating officer, Pay4Freight LLC; Jennifer Cann, senior vice president and head of the Retail Finance Group Portfolio, Bank of America, N.A. with very different careers in the financial industry who seem to have figured out the key to feeling and appearing confident and effective in the workplace.
-
Interview with Melissa Mok, Director of Asset-Based Lending Originations, Truist Securities
The Women in Secured Finance e-newsletter's feature interview for this issue is with Melissa Mok, director of asset-based lending for Truist Securities. Mok joined Truist Securities in 2014. Located in Texas, she is responsible for ABL originations of mid- and large-cap companies and is currently focused on the Financial Services, Energy and Industrial Services. TMT and TME industry verticals.
-
Wingspire Capital Provides $30 Million Revolver to GTT Communications
May 2, 2023Wingspire Capital LLC (“Wingspire”) was pleased to provide a $30 million senior secured credit facility to GTT Communications (“GTT”), a global provider of managed secure networking services for large enterprise and carrier clients.
-
Citizens Leads $750 Million Credit Facility for Hexcel Corporation
May 1, 2023
Citizens is leading a $750 million senior credit facility for Stamford, CT-based Hexcel Corporation.
Founded in 1948, Hexcel is a leading advanced composites company specializing in the development, manufacturing, and marketing of lightweight, high-performance materials, including carbon fibers, reinforcements, prepregs, honeycomb, matrix systems, adhesives, and composite structures for use in commercial aerospace, space and defense, and industrial applications.
-
SFNet’s Emerging Leaders Summit, Mid-Year Roundtables to Offer More Networking Opportunities
May 1, 2023SFNet’s Emerging Leaders Summit (formerly YoPro Leadership Summit) will be held in Florida for the first time since its inception in 2018. This year, SFNet is adding Mid-Year Member Roundtables, a CEO Roundtable (invitation only), and a Chapter Presidents meeting held in conjunction with the Summit, May 22-23, 2023 at the Innisbrook Resort in Palm Harbor, FL.
“Our younger members have told us they want to build relationships with cohorts at all levels of experience and influence as well as with their peers,” said Rich Gumbrecht, CEO, SFNet. “So, we tried something new this year by coupling our Mid-Year Member Roundtables and Chapter Presidents meeting with the Emerging Leader Summit. We programmed lots of interconnectivity through social events and shared programming to create a contact-rich environment.” -
JPMorgan Chase Acquires Substantial Majority of Assets and Assumes Certain Liabilities of First Republic Bank
May 1, 2023JPMorgan Chase (NYSE: JPM) today announced it has acquired the substantial majority of assets and assumed the deposits and certain other liabilities of First Republic Bank from the Federal Deposit Insurance Corporation (FDIC). In carrying out this transaction, JPMorgan Chase is supporting the U.S. financial system through its significant strength and execution capabilities. As part of the purchase, JPMorgan Chase is assuming all deposits – insured and uninsured.
-
First Citizens Bank Provides $16 Million in Financing to FitLife Brands, Inc.
Apr 27, 2023First Citizens Bank today announced that its Middle Market Banking business provided $16 million in financing to FitLife Brands, Inc., a provider of innovative and proprietary nutritional supplements headquartered in Omaha, Nebraska.
-
Steven Bellah Joins KCP Advisory Group
Apr 26, 2023KCP Advisory Group is excited to announce the merger of the Remuda Advisors consulting group into KCP and the appointment of Steven Bellah as Senior Managing Director. In this role, Mr. Bellah will head the Dallas office and will also serve as the practice leader for the Lender Services Group. He will be a key contributor to helping KCP maintain its accomplished Turnaround and Restructuring practice and will be a senior presence developing and supporting the business, working across the practice groups.
-
SFNet Asset-Based Lending and Factoring Annual Survey Results Show Strong Performance
Apr 26, 2023
SFNet surveyed bank and non-bank lenders on 2022 performance and 2023 outlook
NEW YORK, NY,April 26, 2023 ─ There was solid growth in commitments and outstandings in the asset-based lending market last year and portfolio performance was strong, according to data released by the Secured Finance Network. The factoring industry proved similarly resilient in a challenging economy and began 2023 on a positive note.
Lender confidence held steady, as well, with banks and non-bank lenders maintaining a positive outlook despite inflation and higher interest rates. In the most recent Confidence Index, they pointed to the industry’s resiliency and had high expectations in the demand for new business, hiring and client utilization.
-
MidCap Financial Closes Senior Revolving Credit Facility to Shimmick
Apr 24, 2023MidCap Financial, a leading commercial finance company focused on middle market transactions, today announced it has provided a senior revolving credit facility to SCCI National Holdings, Inc. (“Shimmick” or “Company”). Proceeds from the MidCap credit facility will provide for the business’ ongoing working capital needs.
-
ABLs, Bitcoin Miners and Monetizing Stranded Energy
Apr 24, 2023This article discusses the bitcoin mining industry’s role in providing demand support to energy producers by monetizing otherwise stranded energy produced from oil drilling and solar and wind facilities. Consumption of stranded energy by bitcoin miners should help secured lenders underwrite loans, because it can reduce air pollution resulting from natural gas flaring and improve life cycle economics of renewable energy sources.