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  • California Bank of Commerce Creates New Specialty Banking Division
    Nov 15, 2022
    California Bank of Commerce (CBC) has formed a new division to focus on existing specialty lines of business. The division will look to expand both credit and treasury solutions to the Bank’s commercial markets. Known as CBC Specialty Banking, the division offers a broad asset-based lending platform, CBC Asset Based Lending, ranging from turnarounds to early- and mid-stage companies through acquisitions (both sponsor and non-sponsor). It also includes the Bank’s existing sponsor finance products, now called CBC Sponsor Finance, working with private equity firms, SBICs and direct lenders to leverage cash flow for acquisitions.
  • CohnReznick Hires Two Senior Leaders for Expanding Value360 Practice
    Nov 14, 2022
    CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, today announced that Virginia Schnippel, Principal, Valuation Advisory Services, and Aaron Kolko, Managing Director, Transaction Advisory Services, have joined the firm’s rapidly expanding Value360 practice. Value360 offers a full spectrum of advisory services to businesses at key points throughout their life cycle. 
  • Michele Ocejo Nonbank Regional Asset-Based Lenders Provide an Overview of their Market
    TSL’s editor-in-chief gathered the heads of several nonbank regional asset-based lenders to discuss the industry from their point of view, including the challenges and opportunities, effects of COVID and their predictions for the upcoming year. 

    The executives interviewed are Tom Cleveland, managing partner, Access Business Finance; Michael Fussell, president, Aegis Business Credit; J. Brad Leach, president & CEO, Lighthouse Financial Corp.; Rhett Rowe, CEO, Great Lakes Business Credit; and Patrick Trammell, founding member and president, Southeastern Commercial Finance.
  • Great Elm Capital Corp. Partners with Berkadia to Launch Healthcare Finance Venture
    Nov 14, 2022
    Great Elm Capital Corp. (“we,” “us,” “our,” or “GECC,”) (NASDAQ: GECC), a business development company, today announced that it has launched Great Elm Healthcare Finance, LLC (“GEHF”) with an affiliate of Berkadia Commercial Mortgage, LLC (“Berkadia”) as its strategic minority partner. Led by healthcare finance veteran, Michael Gervais, and a management team with significant healthcare expertise, GEHF will also be supported by Great Elm Specialty Finance’s existing infrastructure.
  • Santander Commercial Banking Appoints Two New Leaders
    Nov 10, 2022
    Santander Bank, N.A. today announced the appointments of Donna Cleary to Market Manager and Jim Bravyak to Head of Underwriting & Portfolio Management. In her new role, Cleary will lead an additional team of bankers to focus on the vast opportunity with middle market companies in the New York City and Long Island markets. Bravyak will assume Cleary’s previous role, leading Underwriting and Portfolio Management. 
  • C2FO Expands Leadership Team With Addition of Chief Credit Officer and Chief Accounting Officer
    C2FO, the world’s on-demand working capital platform, announced the addition of two new executive roles to its leadership team, naming Dan Karas as its first chief credit officer and promoting Controller Bri Simoneau as the first chief accounting officer. Karas brings extensive leadership experience in lending and risk management, and Simoneau brings deep knowledge and experience in financial controls and reporting. Both executives will be essential as C2FO continues to enhance its business and overall global footprint.
  • SFNet's 2022 Hall of Fame Profiles
    Nov 10, 2022
    On the following pages, we honor the industry icons who have been inducted into the 2022 SFNet Hall of Fame. We all owe a debt of gratitude to these leaders. Although they represent the industry during various periods of time, they have all made  critical contributions to secured finance and deserve our appreciation for making the industry and our association what it is today.
  • Rosenthal Closes Multiple Factoring Transactions
    Nov 9, 2022
    Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending, purchase order financing, d2c and e-commerce inventory financing firm in the United States, today announced the completion of several factoring transactions that will help to address working capital needs, mitigate risk and support growth opportunities for clients across multiple sectors.
  • Barry Bobrow Joins Regions Business Capital (RBC) as Managing Director, Head of Credit Markets
    Nov 7, 2022

    Regions Business Capital (RBC) announces that Barry Bobrow has joined as Managing Director, Head of Credit Markets. Barry brings over 35 years of banking experience to this new role, including significant leadership positions in asset-based lending and debt capital markets. 

  • JoBennettColes_150 Funding in the Food Circle – the Winds of Change
    Nov 8, 2022

    Food. It’s at the heart of all our lives. We love it – we think about it – we plan it – we talk about it.

    Never before has there been so much focus on food: where it comes from, how much it costs and how to keep getting it. Just about all of us who have recently bought groceries think: “Wow – that’s a lot more expensive than it was last year.” When I said that recently to a good friend, she responded that this must be due to inflation and Ukraine. I thought: that is too simple an answer.

  • Outset Medical Secures Up To $300 Million in Debt Financing
    Nov 7, 2022
    Outset Medical, Inc. (Nasdaq: OM)(“Outset”), a medical technology company pioneering a first-of-its-kind technology to reduce the cost and complexity of dialysis, today announced that it has entered into two senior secured credit facilities with investment affiliates managed by SLR Capital Partners, LLC (“SLR”) which collectively provide for borrowings of up to $300 million, comprising up to a $250 million term loan facility and up to a $50 million asset-based revolving credit facility.
  • Charlie Perer Interview with Michael Scolaro, BMO Commercial Bank ABL
    Nov 3, 2022
    As part of our series of executive interviews, Charlie Perer sits with Michael Scolaro, managing director and asset based group head for BMO Commercial Bank ABL, to hear his perspective on the state of the BL market, bank vs. non-bank competition, the future of ABL, executive development and competition, among other things.
  • IDB Bank Leads $100MM Revolving Credit Facility For Dwight Funding
    IDB Bank (IDB), a New York-based private and commercial bank, has closed up to a $100 million asset-based revolving credit facility for Dwight Funding, a New York-based lender to modern brands and platforms. Dwight Funding was one of the first capital providers to focus on high growth, digitally native brands.

    IDB was the sole lead arranger and administrative agent for Dwight's facility, signaling the Bank's growing position in the Lender Finance industry. 
  • ePlus Expands Credit Facility
    Nov 2, 2022
    ePlus inc. (NASDAQ NGS: PLUS – news) a leading provider of technology and financing solutions, today announced that its wholly-owned subsidiaries ePlus Technology, inc., ePlus Technology Services, inc. and SLAIT Consulting, LLC (collectively, the "Borrowers") recently entered into an amendment to their credit agreement with their lenders (the "Lenders") for which Wells Fargo Commercial Distribution Finance Corporation ("WFCDF") acts as administrative agent. 
  • Talk of Wave of Borrower Defaults Overblown
    Nov 1, 2022
    Will the long-predicted wave of defaults come to fruition? Key players in the industry provide their perspectives.
  • Rosenthal Completes $13 Million in Transactions for Clients Across Multiple Industries
    Nov 1, 2022
    Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending, purchase order financing, d2c and e-commerce inventory financing firm in the United States, today announced the completion of several transactions, including an asset based lending deal and three deals for Rosenthal’s newest division, Pipeline, serving e-commerce and direct-to-consumer businesses. The funding and financing facilities will help to address clients’ working capital needs and support various growth opportunities.
  • SFNet Creates the SFNet Guide to the California Commercial Finance Disclosure Laws and Regulations
    Oct 31, 2022
    SFNet is pleased to provide its members with what it believes is the most comprehensive Guide to complying with the controversial new California Disclosure Regulations for Commercial Finance Transactions that go into effect December 9, 2022. The Regulations apply to non-regulated commercial institutions offering financial transactions of $500,000 or less to California borrowers.
  • Juanita Schwartzkopf_150 What Does The Second Year of Inflation Tell Us?
    Oct 27, 2022
  • Phoenix Lending Survey Results Reveals Inflation is Driving Economic Conditions and Consumer Spending
    Oct 27, 2022
    Phoenix’s Q3 2022 “Lending Climate in America” survey asked lenders to identify that greatest factor driving the softening global economic conditions. The majority of lenders, seventy-five percent, believe inflation is the greatest factor. Seventeen percent of the lenders surveyed believe that global supply chain issues is the greatest factor. Of the lenders surveyed, eight percent believe the war in Ukraine is the greatest factor driving the softening global economic conditions.
  • Citizens Leads $98.7 Million Loan to Houston-based Hanover Company
    Oct 26, 2022
    Citizens announced today that its Commercial Real Estate Finance team led a $98.7 million loan to Houston-based Hanover Company for the construction of a six-story, 309-unit multi-family project in Laguna Niguel, Calif. Citizens is Joint Lead Arranger and Administrative Agent.