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  • Collectors Closes $125M Revolving Line of Credit with J.P. Morgan, KeyBanc Capital Markets Inc. and California Bank & Trust
    Collectors Holdings, Inc. (“Collectors”), announced today the closing of a $125M revolving line of credit with a syndicate co-led by J.P. Morgan and KeyBanc Capital Markets Inc., with participation by California Bank & Trust.
  • Brett Garver photo Unpacking the Final Rule Under 1071 of the Dodd-Frank Act
    Apr 11, 2023
    After more than ten years and extended litigation to compel rulemaking, on March 30, 2023, the Consumer Financial Protection Bureau (CFPB) issued the final rule which implements the small business lending data collection requirements set forth in section 1071 of the Dodd-Frank Act (Section 1071).  The final rule, together with the comments, is just under nine hundred pages.[1]  Broadly presented, the final rule can be broken down into a series of questions to be answered.  First, are the lender, the borrower and the transaction covered by the rule?  Second, what information must be collected and reported?  Third, how is the information reported?  Fourth, when does the rule take effect?
  • Gen Merritt-Parikh What’s in Fashion for Factoring, 2023
    Apr 10, 2023

    Last year was not the type of “cascade” we thought it would be – at all – as 2022 turned out to be more characterized by a surge of rising rate hikes and new concerns, versus a wave of new deals. Undeterred, we’re back this year to so see what could be infashion for factoring in 2023.

    First on our list, the hot new color for this year – Viva Magenta!

  • Gordon Brothers Names Samantha Schackman Director, Business Development
    Apr 10, 2023

    Gordon Brothers, the global advisory and investment firm, has named Samantha Schackman Director, Business Development.

    Schackman works with asset-based lending, investment banking and private equity professionals in Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont to identify valuation, disposition and lending opportunities for Gordon Brothers and will expand the firm’s presence in the Northeast.

  • US Bank Lending Slumps by Most on Record in Final Weeks of March
    Apr 10, 2023
    US bank lending contracted by the most on record in the last two weeks of March, indicating a tightening of credit conditions in the wake of several high-profile bank collapses that risks damaging the economy.

    Commercial bank lending dropped nearly $105 billion in the two weeks ended March 29, the most in Federal Reserve data back to 1973. The more than $45 billion decrease in the latest week was primarily due to a a drop in loans by small banks.
  • Assembled Brands Announces a New $5 Million Facility with Algenist
    Assembled Brands is celebrating a new $5 million facility with its partners at Algenist. Founded in 2011, Algenist is a clinical skincare brand delivering anti-aging based on natural, botanical ingredients such as Alguronic Acid from algae. Naturally-sourced and sustainably-produced through biotechnology, the innovative green science respects nature, and is one of the oldest, nutrient-rich greens in the world.
  • The Story of Foothill Capital
    In this new feature series, “The Story of,” Charlie Perer sits with the key entrepreneurs and executives who have built leading commercial finance companies to talk about the origins of their respective firms. The purpose of this series is to tell the story behind many of the most famous and dynamic firms of past, present and future. The first feature is about Foothill Capital, which, of course was acquired by Norwest in 1998 and later by Wells Fargo. The core team at Foothill went on to be leaders at Wells Fargo Capital Finance and throughout the entire commercial finance industry.
  • DataBank Secures $350 Million Credit Facility to Finance Ongoing Expansion
    Apr 5, 2023

    DataBank, a leading provider of enterprise-class edge colocation, interconnection, and managed cloud services, announced today that it has secured another $350M in financing to fund the ongoing expansion of its edge data center footprint. Led by TD Securities, the $350 million credit facility includes a $175 million, 5-year Term Loan, a $125 million Delayed Draw Term Loan ("DDTL") which is undrawn at close, and a $50 million revolving credit line. 


  • RelPro Promotes Rajmangal to President, Adds to C-Level Team
    Apr 4, 2023
    RelPro, the fast-growing business development and relationship management solution for Financial & Professional Services, today announced that Raaj Rajmangal has been appointed as President of RelPro. Rajmangal, who previously served as the company’s Chief Technology Officer, will now be responsible for RelPro’s strategic development and execution. RelPro CEO and Founder Martin Wise will continue as CEO to drive the corporate vision, working closely with RelPro’s clients and partners.
  • SFNet's Independent Finance Roundtable to Discuss Turnaround, Best Practices, Debt Capital, Tech and Disclosures, Regulations and Licensing
    Apr 3, 2023
    SFNet's Independent Finance Roundtable (IFR) will be held April 18-20, 2023, at The Gwen in Chicago, IL. SFNet’s in-person Independent Finance Roundtable brings together senior-level executives from non-bank, independent SFNet member companies in a small setting. Attendees gather to discuss key industry topics that affect their business while enjoying time to network.
  • Encina Private Credit Serves as Joint Lead Arranger for $155 Million Senior Secured Credit Facility
    Apr 3, 2023
    Encina Private Credit, LLC (“EPC”) is pleased to announce that it has served as joint lead arranger and joint bookrunner for a $155 million senior secured credit facility supporting a global technology focused private equity firm for the acquisition of a leading provider of cloud-based enterprise software solutions.
  • Hancock Whitney Establishes New Asset Based Lending Division
    Apr 3, 2023

    40-year ABL executive Mike Knuckles to lead metro Atlanta office serving U.S. South

    GULFPORT, Miss. (April 3, 2023)—Hancock Whitney has established a new companywide asset based lending (ABL) division primarily serving 12 states across the southern United States. Mike Knuckles, an asset based lending executive with decades of industry experience, will lead the line of business based in suburban Atlanta, Georgia, and direct all recruiting and hiring.

  • Michele Ocejo In the Spotlight: Women-Dominated Teams in Secured Finance
    Apr 3, 2023
    It’s no secret that, despite great progress in the last couple of decades, secured finance remains a male-dominated field. Here, we shine the spotlight on three unique SFNet members whose teams are made up of more women than men.
  • First Citizens Bank Provides $44.2 Million for Medical Office Building Portfolio
    Mar 30, 2023
    First Citizens Bank today announced that its Healthcare Finance group, part of the CIT division, has provided $44.2 million to affiliates of Kayne Anderson Real Estate and Remedy Medical Properties to finance a portfolio of medical office building properties.
  • Zions Bancorp. Completes ABL Deal with Houston Steel Fittings Distributor
    Mar 29, 2023
    Zions Bancorporation, N.A., through its Texas Division, Amegy Bank, closed and funded a $45,000,000 credit facility for an importer and distributor of iron castings for the water and waste water industries.
  • Crédit Agricole CIB Acted as Sole Arranger and Bookrunner for Allegiant $100MM Revolving Credit Facility
    Mar 28, 2023

    Crédit Agricole CIB has closed a new $100MM 3-year Senior Secured Revolving Credit Facility with Allegiant Travel Company, acting as Sole Arranger and Bookrunner.

    Allegiant is a longstanding client of the Bank, with this Senior Secured Revolving Credit Facility being the foundation of its relationship with the Company since 2015. With this latest refinancing, the transaction will continue to further enhance Allegiant’s liquidity position and will support the Company’s order book and introduction of new technology assets.

  • Assembled Brands Announces the Hiring of Genevieve Forsman and Juliana Clark
    Mar 27, 2023
    Assembled Brands is pleased to announce that Genevieve Forsman and Juliana Clark have joined its team as Portfolio Analysts in Los Angeles, CA. In this role, Forsman and Clark are responsible for account management, operational and collateral compliance, and portfolio monitoring.
  • Michele Ocejo It’s All About the People
    There are few individuals more genuinely positive and upbeat than SFNet’s own Michele Ocejo. On her 30th anniversary of joining SFNet, I took the opportunity to sit down with our heralded but unassuming director of communications and discussed the importance of relationships, making an impact, and the joy she gets from sharing people’s stories.
  • First Citizens Bank Enters into Whole Bank Purchase of Silicon Valley Bridge Bank, N.A.
    Mar 27, 2023
    First-Citizens Bank & Trust Company ("First Citizens Bank"), a subsidiary of Raleigh-headquartered First Citizens BancShares, Inc. ("First Citizens") (Nasdaq: FCNCA), announced today that it has entered into an agreement with the Federal Deposit Insurance Corporation (FDIC) to purchase out of FDIC receivership substantially all loans and certain other assets, and assume all customer deposits and certain other liabilities of Silicon Valley Bridge Bank, N.A. 

    BofA Securities, Inc. is serving as exclusive financial advisor to First Citizens and Smith, Anderson, Blount, Dorsett, Mitchell & Jernigan, LLP acted as legal advisor.
  • TSL0323_RetentionArt Taking a More Proactive Approach to Retention
    Secured finance, much like the rest of financial services, is often a high-pressure industry, requiring long hours to resolve client concerns, handle due diligence, and scout for new prospects. Professionals in the field are commonly answering emails in the wee hours of the morning and late into the night. But the greying of the industry and attrition are causing secured finance executives to take a long, hard look at employee concerns, as well as DEI, recruitment, and retention initiatives.