- Deal Activity Slows for Asset-Based Lending, but Portfolio Performance Stays Strong
- Exploring the Future of Supply Chain Finance: Insights from SFNet's Inaugural Conference
- Navigating 2025: SFNet’s Asset-Based Capital Conference Returns to Las Vegas with Premier Insights and Networking
- Siena Lending Group Announces Leadership Transition Plan
- Celebrating the Achievements of SFNet Chapters
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Huntington Business Credit Provides $25 Million for Ames Copper Group, LLC
Dec 7, 2021
Huntington Business Credit announced it closed a new $25,000,000 credit facility with Ames Copper Group, LLC on November 19, 2021. Proceeds of the facility were used to finance start-up expenses and to provide ongoing working capital growth financing.
Ames Copper Group, LLC, located in Shelby, North Carolina, is a start-up copper smelter producing copper cathode primarily used in the production of copper wire and rod.
-
eCapital Provides a $6 Million Asset Based Lending Facility for Agriculture Supply Company
Dec 6, 2021eCapital Commercial Finance’s (“eCapital”) Asset Based Lending division, today announced the issuance of a $6 million asset based line to a Florida-based agriculture supply company servicing both retail and wholesale clients. The company selected eCapital for its competitive rate, flexible structure and ability to provide fast access to working capital.
-
SFNet Releases its Latest Market Pulse Report
Dec 6, 2021
SFNet is pleased to present the latest SFNet Market Pulse, a periodic report that informs lenders about emerging economic trends likely to affect secured lending and their borrowers’ industries over the next one to two quarters.
-
Golub Capital Acts as Administrative Agent and Joint Lead Arranger on $1 Billion Multi-Currency Financing to Support the Merger of 2020 Technologies and Compusoft
Dec 2, 2021Golub Capital acted as Administrative Agent and Joint Lead Arranger on a $1 billion GOLD facility to finance the merger of 2020 Technologies ("2020") and Compusoft by Genstar Capital and TA Associates. GOLD financings are Golub Capital One-Loan Debt facilities. The GOLD facility was funded using a combination of U.S. dollars, Canadian dollars, British pounds sterling and eurodollars.
-
Interview with Candice Hubert, Member of SFNet’s Diversity, Equity & Inclusiveness Committee
Dec 2, 2021Representing Republic Business Credit in the Texas market out of an expanding Houston office, Candice brings more than 18 years of banking and commercial finance experience. Candice joined Republic in 2012, after a long tenure with Chase Bank providing asset-based lending solutions to a multitude of industries. Candice has been able to assist clients in start-up, high-growth, and recoverable distressed situations and values the opportunity to work with industry partners across the United States. She is a member of the Houston Chapter for the Secured Finance Network, Association for Corporate Growth, and a member of Turnaround Management Association. In 2018, Candice was a proud recipient of the Secured Finance Network's 40 Under 40 Award and continues to serve as an advocate for SFNet programs by participating in business development panel discussions and has been featured in past SFNet informative articles.
-
Accord Financial Provides $15M Growth Funding Solution for Oil and Gas Services Client
Dec 2, 2021
Accord Financial is pleased to announce that it closed a $15M facility for an oil and gas services company. Its newest client provides transportation, environmental and related services to the oil and gas sector. With operations in Alberta and BC, this company, a leader in its field, needed a solid financing structure to return to pre-pandemic levels and have access to sufficient cash flow to support growth, confident that its financial partner would be able to accompany them along this path.
-
TTEC Increases its Credit Facility to $1.5 Billion
Nov 30, 2021TTEC Holdings, Inc. (NASDAQ: TTEC), one of the largest, global CX (customer experience) technology and services innovators for end-to-end digital CX solutions, announced today that on November 23, 2021 it amended and extended its credit facility, increasing the total commitment amount by $300 million to $1.5 billion and extending the maturity to November 2026.
Commitments were provided by a syndicate of banks arranged by Wells Fargo Securities, LLC serving as Left Lead Arranger and Left Bookrunner and BofA Securities, Inc., PNC Bank National Association, U.S. Bank, National Association, and Bank of the West, serving as Joint Lead Arrangers and Joint Bookrunners. -
SFNet Mourns the Passing of Past Chairman Ronald C. Smith
Nov 29, 2021
The staff and volunteer leaders of the Secured Finance Network are saddened to hear of Ron’s passing. We express our sincerest condolences to his family.
Ronald established a national reputation as a leader in the commercial finance industry. He was active in the National Commercial Finance Association, where he served for several years on its board, and as the organization’s President and Chairman.
-
International Factoring Association Mourns the Loss of Founder Bert Goldberg
Nov 29, 2021The staff and volunteer leaders of the Secured Finance Network are saddened to hear of Bert’s passing. We express our sincerest condolences to his family and the entire IFA community. Bert was inducted into SFNet’s Hall of Fame earlier this month. His indelible contributions to the factoring industry will not be forgotten.
The International Factoring Association (IFA) is saddened to announce that Founder and Executive Director Bert Goldberg has died after his battle with cancer. Mr. Goldberg was diagnosed in April, 2021, with stage four pancreatic cancer. He passed away at his home on November 27, 2021.
-
Is Q4 2021 Activity Foreshadowing a Change?
Nov 29, 2021
As 2021 is drawing to a close, lenders and borrowers are asking what to expect in 2022. In March of 2020, when the first Covid-19 lockdowns began, there was a great deal of fear and uncertainty, both for individuals and for businesses. As the government pumped liquidity into the market, many businesses used those resources to survive through the period.
Now in late 2021, as the liquidity sources have expired, and businesses must generate cash flow based on their performance, the level of performance stress is increasing. Not only has the “free money” been used, but now businesses are dealing with inflation, commodity price changes, labor issues and supply chain disruption as stresses to their financial performance.
-
Tupperware Brands Reduces Borrowing Costs and Increases Financial Flexibility with New $880M Credit Facility
Nov 23, 2021Wells Fargo Securities, BMO Capital Markets, Fifth Third Bank, and Truist Securities acted as Joint Lead Arrangers and Joint Bookrunners on the New Facility. Wells Fargo Bank is the Administrative Agent, Swingline Lender, and Issuing Bank on the New Facility, with BMO Harris Bank, Fifth Third Bank, and Truist Bank as Syndication Agents
-
eCapital Corp. Names Brian Gagel as Managing Director of General Factoring
Nov 22, 2021
eCapital Corp. (“eCapital”), a leading alternative finance provider in North America, has named Brian Gagel as Managing Director of General Factoring in its Commercial Finance division. He will report to Dave Ciccolo, the CEO of the division, and will lead a team of account management and operations professionals to support the continued growth of the general factoring business.
-
No Crystal Ball, but Plenty of Futurist Thinking at SFNet’s 77th Annual Convention in Phoenix
Nov 22, 2021
A key theme that emerged from sessions and keynotes at SFNet’s 77th Annual Conference in Phoenix, AZ, was the need to fortify and build resilience to prepare for challenges and increasing turbulence due to economic, regulatory, social and technological disruptions. And while the speakers said they appreciate more data, many recommended a greater focus on human connection that fosters trust. One independent said bluntly, “You want to look your borrower in the eye.”
“Everyone wants a crystal ball,” said another presenter, “but no one has one.”
-
John J. Lim Joins Bank of America Business Capital Metro NYC Team
Nov 22, 2021Bank of America Business Capital announced that John J. Lim has joined the Metro NYC team as a senior business development officer. Based in New York City, he will provide asset-based lending solutions and banking products to large corporate and middle market companies, intermediaries, and financial sponsors in New York City, Westchester and Connecticut.
-
Great Rock Capital Closes Credit Facility with WinCup
Nov 18, 2021Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced the closing of a senior secured credit facility with WinCup, Inc., a leading manufacturer of traditional and sustainable disposable foodservice to-go ware, including phade® PHA straws. The new capital refinanced the company’s existing senior debt and provides WinCup with additional liquidity to support their growing platform. The bespoke facility includes a revolver, a term loan, and a delayed draw term loan.
-
Commercial Banking Leader Betsy Ratto Joins Hilco Global Team as Senior Vice President of Capital Solutions with responsibility to drive business for Restore Capital and Hilco Corporate Finance
Nov 17, 2021
Hilco Global announced today that long time Bank of America executive Betsy Ratto will join the Hilco Global team as Senior Vice President of Capital Solutions with responsibility to drive business for ReStore Capital and Hilco Corporate Finance.
In this new role, Ms. Ratto will be responsible for originating and executing corporate finance and capital markets transactions, with focus on the retail industry and other financing transactions. Ms. Ratto will be based in Hilco’s Boston office and will work on identifying and originating lending/investment opportunities through Hilco Global’s and her own existing network of professional contacts and relationships, including investment banks, private equity firms and hedge funds.
-
iPower Enters Into $25 Million Credit Facility with JPMorgan Chase
Nov 16, 2021iPower Inc. (Nasdaq:IPW) (“iPower” or the “Company”), one of the leading online hydroponic equipment suppliers and retailers in the United States, has entered into a three-year $25 million secured revolving credit facility with JPMorgan Chase Bank, N.A. The credit facility also provides an accordion feature to borrow an additional $25 million for a total of up to $50 million.
-
An Interview with Andrea Petro, Board Member of Ready Capital Corporation and Consultant to Waterfall Asset Management
Nov 15, 2021
In this installment of our series of executive interviews, Charlie Perer sits with Andrea Petro to talk about her new role as Board Member at Ready Capital, and to share her advice to ABL managers about consolidation, competition and the current state of the market.
-
Citizens Leads $125 Million Asset-Based Revolving Credit Facility for Destination XL Group
Nov 15, 2021Citizens announced today that it has led a new $125 million asset-based revolving credit facility for Destination XL Group, an omni-channel specialty retailer of big and tall men's apparel. Citizens is sole lead arranger, sole bookrunner and administrative agent.
-
Revolution Capital Acquires Grand Financial New York
Revolution Capital, the leading provider of factoring & cashflow financing in Canada and the United States, has acquired Grand Financial New York., a factoring company specializing in staffing and transportation.
The move expands Revolution Capital’s reach in the US market, solidifies its presence on the East Coast, and allows clients of Grand Financial New York to access faster funding, personalized service, and transparent online reporting.
-
Huntington Business Credit Provides $25 Million for Ames Copper Group, LLC
Dec 7, 2021
Huntington Business Credit announced it closed a new $25,000,000 credit facility with Ames Copper Group, LLC on November 19, 2021. Proceeds of the facility were used to finance start-up expenses and to provide ongoing working capital growth financing.
Ames Copper Group, LLC, located in Shelby, North Carolina, is a start-up copper smelter producing copper cathode primarily used in the production of copper wire and rod.
-
eCapital Provides a $6 Million Asset Based Lending Facility for Agriculture Supply Company
Dec 6, 2021eCapital Commercial Finance’s (“eCapital”) Asset Based Lending division, today announced the issuance of a $6 million asset based line to a Florida-based agriculture supply company servicing both retail and wholesale clients. The company selected eCapital for its competitive rate, flexible structure and ability to provide fast access to working capital.
-
SFNet Releases its Latest Market Pulse Report
Dec 6, 2021
SFNet is pleased to present the latest SFNet Market Pulse, a periodic report that informs lenders about emerging economic trends likely to affect secured lending and their borrowers’ industries over the next one to two quarters.
-
Golub Capital Acts as Administrative Agent and Joint Lead Arranger on $1 Billion Multi-Currency Financing to Support the Merger of 2020 Technologies and Compusoft
Dec 2, 2021Golub Capital acted as Administrative Agent and Joint Lead Arranger on a $1 billion GOLD facility to finance the merger of 2020 Technologies ("2020") and Compusoft by Genstar Capital and TA Associates. GOLD financings are Golub Capital One-Loan Debt facilities. The GOLD facility was funded using a combination of U.S. dollars, Canadian dollars, British pounds sterling and eurodollars.
-
Interview with Candice Hubert, Member of SFNet’s Diversity, Equity & Inclusiveness Committee
Dec 2, 2021Representing Republic Business Credit in the Texas market out of an expanding Houston office, Candice brings more than 18 years of banking and commercial finance experience. Candice joined Republic in 2012, after a long tenure with Chase Bank providing asset-based lending solutions to a multitude of industries. Candice has been able to assist clients in start-up, high-growth, and recoverable distressed situations and values the opportunity to work with industry partners across the United States. She is a member of the Houston Chapter for the Secured Finance Network, Association for Corporate Growth, and a member of Turnaround Management Association. In 2018, Candice was a proud recipient of the Secured Finance Network's 40 Under 40 Award and continues to serve as an advocate for SFNet programs by participating in business development panel discussions and has been featured in past SFNet informative articles.
-
Accord Financial Provides $15M Growth Funding Solution for Oil and Gas Services Client
Dec 2, 2021
Accord Financial is pleased to announce that it closed a $15M facility for an oil and gas services company. Its newest client provides transportation, environmental and related services to the oil and gas sector. With operations in Alberta and BC, this company, a leader in its field, needed a solid financing structure to return to pre-pandemic levels and have access to sufficient cash flow to support growth, confident that its financial partner would be able to accompany them along this path.
-
TTEC Increases its Credit Facility to $1.5 Billion
Nov 30, 2021TTEC Holdings, Inc. (NASDAQ: TTEC), one of the largest, global CX (customer experience) technology and services innovators for end-to-end digital CX solutions, announced today that on November 23, 2021 it amended and extended its credit facility, increasing the total commitment amount by $300 million to $1.5 billion and extending the maturity to November 2026.
Commitments were provided by a syndicate of banks arranged by Wells Fargo Securities, LLC serving as Left Lead Arranger and Left Bookrunner and BofA Securities, Inc., PNC Bank National Association, U.S. Bank, National Association, and Bank of the West, serving as Joint Lead Arrangers and Joint Bookrunners. -
SFNet Mourns the Passing of Past Chairman Ronald C. Smith
Nov 29, 2021
The staff and volunteer leaders of the Secured Finance Network are saddened to hear of Ron’s passing. We express our sincerest condolences to his family.
Ronald established a national reputation as a leader in the commercial finance industry. He was active in the National Commercial Finance Association, where he served for several years on its board, and as the organization’s President and Chairman.
-
International Factoring Association Mourns the Loss of Founder Bert Goldberg
Nov 29, 2021The staff and volunteer leaders of the Secured Finance Network are saddened to hear of Bert’s passing. We express our sincerest condolences to his family and the entire IFA community. Bert was inducted into SFNet’s Hall of Fame earlier this month. His indelible contributions to the factoring industry will not be forgotten.
The International Factoring Association (IFA) is saddened to announce that Founder and Executive Director Bert Goldberg has died after his battle with cancer. Mr. Goldberg was diagnosed in April, 2021, with stage four pancreatic cancer. He passed away at his home on November 27, 2021.
-
Is Q4 2021 Activity Foreshadowing a Change?
Nov 29, 2021
As 2021 is drawing to a close, lenders and borrowers are asking what to expect in 2022. In March of 2020, when the first Covid-19 lockdowns began, there was a great deal of fear and uncertainty, both for individuals and for businesses. As the government pumped liquidity into the market, many businesses used those resources to survive through the period.
Now in late 2021, as the liquidity sources have expired, and businesses must generate cash flow based on their performance, the level of performance stress is increasing. Not only has the “free money” been used, but now businesses are dealing with inflation, commodity price changes, labor issues and supply chain disruption as stresses to their financial performance.
-
Tupperware Brands Reduces Borrowing Costs and Increases Financial Flexibility with New $880M Credit Facility
Nov 23, 2021Wells Fargo Securities, BMO Capital Markets, Fifth Third Bank, and Truist Securities acted as Joint Lead Arrangers and Joint Bookrunners on the New Facility. Wells Fargo Bank is the Administrative Agent, Swingline Lender, and Issuing Bank on the New Facility, with BMO Harris Bank, Fifth Third Bank, and Truist Bank as Syndication Agents
-
eCapital Corp. Names Brian Gagel as Managing Director of General Factoring
Nov 22, 2021
eCapital Corp. (“eCapital”), a leading alternative finance provider in North America, has named Brian Gagel as Managing Director of General Factoring in its Commercial Finance division. He will report to Dave Ciccolo, the CEO of the division, and will lead a team of account management and operations professionals to support the continued growth of the general factoring business.
-
No Crystal Ball, but Plenty of Futurist Thinking at SFNet’s 77th Annual Convention in Phoenix
Nov 22, 2021
A key theme that emerged from sessions and keynotes at SFNet’s 77th Annual Conference in Phoenix, AZ, was the need to fortify and build resilience to prepare for challenges and increasing turbulence due to economic, regulatory, social and technological disruptions. And while the speakers said they appreciate more data, many recommended a greater focus on human connection that fosters trust. One independent said bluntly, “You want to look your borrower in the eye.”
“Everyone wants a crystal ball,” said another presenter, “but no one has one.”
-
John J. Lim Joins Bank of America Business Capital Metro NYC Team
Nov 22, 2021Bank of America Business Capital announced that John J. Lim has joined the Metro NYC team as a senior business development officer. Based in New York City, he will provide asset-based lending solutions and banking products to large corporate and middle market companies, intermediaries, and financial sponsors in New York City, Westchester and Connecticut.
-
Great Rock Capital Closes Credit Facility with WinCup
Nov 18, 2021Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced the closing of a senior secured credit facility with WinCup, Inc., a leading manufacturer of traditional and sustainable disposable foodservice to-go ware, including phade® PHA straws. The new capital refinanced the company’s existing senior debt and provides WinCup with additional liquidity to support their growing platform. The bespoke facility includes a revolver, a term loan, and a delayed draw term loan.
-
Commercial Banking Leader Betsy Ratto Joins Hilco Global Team as Senior Vice President of Capital Solutions with responsibility to drive business for Restore Capital and Hilco Corporate Finance
Nov 17, 2021
Hilco Global announced today that long time Bank of America executive Betsy Ratto will join the Hilco Global team as Senior Vice President of Capital Solutions with responsibility to drive business for ReStore Capital and Hilco Corporate Finance.
In this new role, Ms. Ratto will be responsible for originating and executing corporate finance and capital markets transactions, with focus on the retail industry and other financing transactions. Ms. Ratto will be based in Hilco’s Boston office and will work on identifying and originating lending/investment opportunities through Hilco Global’s and her own existing network of professional contacts and relationships, including investment banks, private equity firms and hedge funds.
-
iPower Enters Into $25 Million Credit Facility with JPMorgan Chase
Nov 16, 2021iPower Inc. (Nasdaq:IPW) (“iPower” or the “Company”), one of the leading online hydroponic equipment suppliers and retailers in the United States, has entered into a three-year $25 million secured revolving credit facility with JPMorgan Chase Bank, N.A. The credit facility also provides an accordion feature to borrow an additional $25 million for a total of up to $50 million.
-
An Interview with Andrea Petro, Board Member of Ready Capital Corporation and Consultant to Waterfall Asset Management
Nov 15, 2021
In this installment of our series of executive interviews, Charlie Perer sits with Andrea Petro to talk about her new role as Board Member at Ready Capital, and to share her advice to ABL managers about consolidation, competition and the current state of the market.
-
Citizens Leads $125 Million Asset-Based Revolving Credit Facility for Destination XL Group
Nov 15, 2021Citizens announced today that it has led a new $125 million asset-based revolving credit facility for Destination XL Group, an omni-channel specialty retailer of big and tall men's apparel. Citizens is sole lead arranger, sole bookrunner and administrative agent.
-
Revolution Capital Acquires Grand Financial New York
Revolution Capital, the leading provider of factoring & cashflow financing in Canada and the United States, has acquired Grand Financial New York., a factoring company specializing in staffing and transportation.
The move expands Revolution Capital’s reach in the US market, solidifies its presence on the East Coast, and allows clients of Grand Financial New York to access faster funding, personalized service, and transparent online reporting.
-
Huntington Business Credit Provides $25 Million for Ames Copper Group, LLC
Dec 7, 2021
Huntington Business Credit announced it closed a new $25,000,000 credit facility with Ames Copper Group, LLC on November 19, 2021. Proceeds of the facility were used to finance start-up expenses and to provide ongoing working capital growth financing.
Ames Copper Group, LLC, located in Shelby, North Carolina, is a start-up copper smelter producing copper cathode primarily used in the production of copper wire and rod.
-
eCapital Provides a $6 Million Asset Based Lending Facility for Agriculture Supply Company
Dec 6, 2021eCapital Commercial Finance’s (“eCapital”) Asset Based Lending division, today announced the issuance of a $6 million asset based line to a Florida-based agriculture supply company servicing both retail and wholesale clients. The company selected eCapital for its competitive rate, flexible structure and ability to provide fast access to working capital.
-
SFNet Releases its Latest Market Pulse Report
Dec 6, 2021
SFNet is pleased to present the latest SFNet Market Pulse, a periodic report that informs lenders about emerging economic trends likely to affect secured lending and their borrowers’ industries over the next one to two quarters.
-
Golub Capital Acts as Administrative Agent and Joint Lead Arranger on $1 Billion Multi-Currency Financing to Support the Merger of 2020 Technologies and Compusoft
Dec 2, 2021Golub Capital acted as Administrative Agent and Joint Lead Arranger on a $1 billion GOLD facility to finance the merger of 2020 Technologies ("2020") and Compusoft by Genstar Capital and TA Associates. GOLD financings are Golub Capital One-Loan Debt facilities. The GOLD facility was funded using a combination of U.S. dollars, Canadian dollars, British pounds sterling and eurodollars.
-
Interview with Candice Hubert, Member of SFNet’s Diversity, Equity & Inclusiveness Committee
Dec 2, 2021Representing Republic Business Credit in the Texas market out of an expanding Houston office, Candice brings more than 18 years of banking and commercial finance experience. Candice joined Republic in 2012, after a long tenure with Chase Bank providing asset-based lending solutions to a multitude of industries. Candice has been able to assist clients in start-up, high-growth, and recoverable distressed situations and values the opportunity to work with industry partners across the United States. She is a member of the Houston Chapter for the Secured Finance Network, Association for Corporate Growth, and a member of Turnaround Management Association. In 2018, Candice was a proud recipient of the Secured Finance Network's 40 Under 40 Award and continues to serve as an advocate for SFNet programs by participating in business development panel discussions and has been featured in past SFNet informative articles.
-
Accord Financial Provides $15M Growth Funding Solution for Oil and Gas Services Client
Dec 2, 2021
Accord Financial is pleased to announce that it closed a $15M facility for an oil and gas services company. Its newest client provides transportation, environmental and related services to the oil and gas sector. With operations in Alberta and BC, this company, a leader in its field, needed a solid financing structure to return to pre-pandemic levels and have access to sufficient cash flow to support growth, confident that its financial partner would be able to accompany them along this path.
-
TTEC Increases its Credit Facility to $1.5 Billion
Nov 30, 2021TTEC Holdings, Inc. (NASDAQ: TTEC), one of the largest, global CX (customer experience) technology and services innovators for end-to-end digital CX solutions, announced today that on November 23, 2021 it amended and extended its credit facility, increasing the total commitment amount by $300 million to $1.5 billion and extending the maturity to November 2026.
Commitments were provided by a syndicate of banks arranged by Wells Fargo Securities, LLC serving as Left Lead Arranger and Left Bookrunner and BofA Securities, Inc., PNC Bank National Association, U.S. Bank, National Association, and Bank of the West, serving as Joint Lead Arrangers and Joint Bookrunners. -
SFNet Mourns the Passing of Past Chairman Ronald C. Smith
Nov 29, 2021
The staff and volunteer leaders of the Secured Finance Network are saddened to hear of Ron’s passing. We express our sincerest condolences to his family.
Ronald established a national reputation as a leader in the commercial finance industry. He was active in the National Commercial Finance Association, where he served for several years on its board, and as the organization’s President and Chairman.
-
International Factoring Association Mourns the Loss of Founder Bert Goldberg
Nov 29, 2021The staff and volunteer leaders of the Secured Finance Network are saddened to hear of Bert’s passing. We express our sincerest condolences to his family and the entire IFA community. Bert was inducted into SFNet’s Hall of Fame earlier this month. His indelible contributions to the factoring industry will not be forgotten.
The International Factoring Association (IFA) is saddened to announce that Founder and Executive Director Bert Goldberg has died after his battle with cancer. Mr. Goldberg was diagnosed in April, 2021, with stage four pancreatic cancer. He passed away at his home on November 27, 2021.
-
Is Q4 2021 Activity Foreshadowing a Change?
Nov 29, 2021
As 2021 is drawing to a close, lenders and borrowers are asking what to expect in 2022. In March of 2020, when the first Covid-19 lockdowns began, there was a great deal of fear and uncertainty, both for individuals and for businesses. As the government pumped liquidity into the market, many businesses used those resources to survive through the period.
Now in late 2021, as the liquidity sources have expired, and businesses must generate cash flow based on their performance, the level of performance stress is increasing. Not only has the “free money” been used, but now businesses are dealing with inflation, commodity price changes, labor issues and supply chain disruption as stresses to their financial performance.
-
Tupperware Brands Reduces Borrowing Costs and Increases Financial Flexibility with New $880M Credit Facility
Nov 23, 2021Wells Fargo Securities, BMO Capital Markets, Fifth Third Bank, and Truist Securities acted as Joint Lead Arrangers and Joint Bookrunners on the New Facility. Wells Fargo Bank is the Administrative Agent, Swingline Lender, and Issuing Bank on the New Facility, with BMO Harris Bank, Fifth Third Bank, and Truist Bank as Syndication Agents
-
eCapital Corp. Names Brian Gagel as Managing Director of General Factoring
Nov 22, 2021
eCapital Corp. (“eCapital”), a leading alternative finance provider in North America, has named Brian Gagel as Managing Director of General Factoring in its Commercial Finance division. He will report to Dave Ciccolo, the CEO of the division, and will lead a team of account management and operations professionals to support the continued growth of the general factoring business.
-
No Crystal Ball, but Plenty of Futurist Thinking at SFNet’s 77th Annual Convention in Phoenix
Nov 22, 2021
A key theme that emerged from sessions and keynotes at SFNet’s 77th Annual Conference in Phoenix, AZ, was the need to fortify and build resilience to prepare for challenges and increasing turbulence due to economic, regulatory, social and technological disruptions. And while the speakers said they appreciate more data, many recommended a greater focus on human connection that fosters trust. One independent said bluntly, “You want to look your borrower in the eye.”
“Everyone wants a crystal ball,” said another presenter, “but no one has one.”
-
John J. Lim Joins Bank of America Business Capital Metro NYC Team
Nov 22, 2021Bank of America Business Capital announced that John J. Lim has joined the Metro NYC team as a senior business development officer. Based in New York City, he will provide asset-based lending solutions and banking products to large corporate and middle market companies, intermediaries, and financial sponsors in New York City, Westchester and Connecticut.
-
Great Rock Capital Closes Credit Facility with WinCup
Nov 18, 2021Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced the closing of a senior secured credit facility with WinCup, Inc., a leading manufacturer of traditional and sustainable disposable foodservice to-go ware, including phade® PHA straws. The new capital refinanced the company’s existing senior debt and provides WinCup with additional liquidity to support their growing platform. The bespoke facility includes a revolver, a term loan, and a delayed draw term loan.
-
Commercial Banking Leader Betsy Ratto Joins Hilco Global Team as Senior Vice President of Capital Solutions with responsibility to drive business for Restore Capital and Hilco Corporate Finance
Nov 17, 2021
Hilco Global announced today that long time Bank of America executive Betsy Ratto will join the Hilco Global team as Senior Vice President of Capital Solutions with responsibility to drive business for ReStore Capital and Hilco Corporate Finance.
In this new role, Ms. Ratto will be responsible for originating and executing corporate finance and capital markets transactions, with focus on the retail industry and other financing transactions. Ms. Ratto will be based in Hilco’s Boston office and will work on identifying and originating lending/investment opportunities through Hilco Global’s and her own existing network of professional contacts and relationships, including investment banks, private equity firms and hedge funds.
-
iPower Enters Into $25 Million Credit Facility with JPMorgan Chase
Nov 16, 2021iPower Inc. (Nasdaq:IPW) (“iPower” or the “Company”), one of the leading online hydroponic equipment suppliers and retailers in the United States, has entered into a three-year $25 million secured revolving credit facility with JPMorgan Chase Bank, N.A. The credit facility also provides an accordion feature to borrow an additional $25 million for a total of up to $50 million.
-
An Interview with Andrea Petro, Board Member of Ready Capital Corporation and Consultant to Waterfall Asset Management
Nov 15, 2021
In this installment of our series of executive interviews, Charlie Perer sits with Andrea Petro to talk about her new role as Board Member at Ready Capital, and to share her advice to ABL managers about consolidation, competition and the current state of the market.
-
Citizens Leads $125 Million Asset-Based Revolving Credit Facility for Destination XL Group
Nov 15, 2021Citizens announced today that it has led a new $125 million asset-based revolving credit facility for Destination XL Group, an omni-channel specialty retailer of big and tall men's apparel. Citizens is sole lead arranger, sole bookrunner and administrative agent.
-
Revolution Capital Acquires Grand Financial New York
Revolution Capital, the leading provider of factoring & cashflow financing in Canada and the United States, has acquired Grand Financial New York., a factoring company specializing in staffing and transportation.
The move expands Revolution Capital’s reach in the US market, solidifies its presence on the East Coast, and allows clients of Grand Financial New York to access faster funding, personalized service, and transparent online reporting.