If you are having difficulty seeing the issue below, please click here to access the digital magazine
 

GB_GBG_23_Advertising_SFNet_Website_Banner_728_90_PROOF1

  • Rachel Hersh Factoring 101

    Factoring is an age-old form of financing providing companies with much-needed cash.

    It takes money to make money, as any business owner knows. But many small businesses also know what it’s like to be turned down by a bank for a loan or line of credit, not get as much as they need, or simply not get the cash quickly enough to take advantage of an opportunity.

  • Brazil's Embraer Closes $650 Million Revolving Credit Facility with Global Lenders
    Oct 17, 2022

    Brazilian planemaker Embraer SA said on Monday it has closed a $650 million revolving credit facility with a group of national and international financial institutions as it looks to reinforce its liquidity for the coming years.

    The credit facility was led by PNC Bank, Credit Agricole, Natixis, MUFG and Santander, Embraer said in a statement, adding that it will allow it to regain access to financial resources for three years at pre-negotiated rates, which can be renewed for another two years at the lenders' discretion.

  • Holland & Knight Welcomes Leading Finance Attorney Wade Kennedy in Chicago
    Oct 13, 2022
    Wade Kennedy, a highly-regarded lawyer who focuses on asset-based lending and syndicated financings, has joined Holland & Knight as a partner in the firm's Chicago office. He will be co-chair of the firm's Asset-Based Lending Team along with Christopher Dillon in Atlanta. Mr. Kennedy was previously the head of the asset-based lending group at McGuireWoods LLP.
  • BMO’s Asset-Based Lending Group Served as Sole Lender on a Cross-Border Senior Secured ABL Revolver Facility to Support MiddleGround Capital’s Acquisition of HLC, Inc.
    Oct 12, 2022
    BMO, a leading provider of asset-based finance solutions, closed as Sole Lender on a senior secured credit facility in support of MiddleGround Capital’s acquisition of HLC, Inc.  The ABL facility refinanced the Companies’ existing credit facilities, partially financed the acquisition, and will provide working capital financing to the company.  With operations in both Canada and the United States, BMO’s cross-border Asset Based Lending team provided a seamless “One Bank” financing solution to the company.
  • Asset-Based Lending: A Primer
    Oct 11, 2022
    Simply put, asset-based lending (ABL) is a way of lending money to companies. Such loans are made by commercial banks and by specialty finance companies, and loan sizes can range from several hundred thousand to many hundreds of millions of dollars. These loan proceeds are used to assist companies in high-growth, distressed, or sometimes even in start-up situations.
  • Karim Habib Joins Accord Financial as Managing Director, Business Development
    Oct 11, 2022
    Accord Financial Corp., one of the U.S. and Canada’s leading independent commercial finance companies ("Accord") (TSX: ACD) has expanded their Canadian Asset Based Finance/Factoring senior management team to include Karim Habib as Managing Director, Business Development Ontario and Western Canada. His responsibilities will include expanding Accord’s brand presence as well as developing long-term business growth strategies. 
  • Great Rock Capital Adds Senior Originator in Texas Market
    Oct 10, 2022
    Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced Bradley Crawford has joined the firm as Managing Director of Originations. Bradley will be based in Texas and is responsible for expanding the firm’s origination efforts throughout Texas, plus the surrounding states of Arkansas, Louisiana, Mississippi, and Oklahoma.
  • Churchill Raises Over $12 Billion for its Senior Lending Program
    Churchill Asset Management LLC (“Churchill” or the “Firm”), an investment-specialist of Nuveen, announced today that it has raised over $12 billion in third-party committed capital for the Firm’s most recent senior lending program.

    This milestone includes the closings of the Firm’s flagship levered and unlevered senior loan funds, publicly-registered vehicles and separately managed accounts (collectively, the “Funds”). The Funds attracted equity commitments from a diverse group of approximately 150 institutional and high net worth investors globally, including leading public and private pension plans, insurance companies, endowments, foundations and family offices based in North America, Europe, the Middle East and Asia.
  • Tammen-Jan Field Exam in Changing Times: Fundamentals and Best Practices
    Oct 7, 2022

    Jan Tammen of PNC Business Credit discusses some of the lasting changes to the field exam industry brought on by the pandemic.

  • eCapital Expands Transportation Division with 4 Senior Hires
    Oct 6, 2022
    eCapital Corp. (“eCapital” or “the Company”), a leading finance provider across North America and the U.K., today announced the appointments of four Business Developments Officers (BDOs) to further expand the company’s Transportation Division in the U.S. and Canada.
  • Michele Ocejo Field Examinations in 2022 and Beyond
    Oct 5, 2022
    TSL’s editor-in-chief interviewed several field exam professionals as well as lenders to get an overview of what lenders should look for, the current challenges and the effects of the pandemic.
  • Winston & Strawn Corporate Partners Elevated to Leadership Positions
    Oct 5, 2022
    Winston & Strawn is pleased to announce that five partners have been elevated to leadership positions. Four partners have been promoted to serve as co-chairs of the Leveraged Finance and Asset-Based Lending practices, and one partner as chair of the Sponsor Finance practice. 
  • CIT Northbridge Credit Serves as Agent on $40 Million Financing to Biery Cheese
    Oct 4, 2022
    CIT, a division of First Citizens Bank, today announced that CIT Northbridge Credit, as advised by CIT Asset Management LLC, served as agent on a $40 million revolving credit facility provided to Biery Cheese. The credit facility refinances Biery Cheese's existing senior debt and provides additional liquidity to support increased production. Croley, Martell & Associates, Ltd. served as advisor on the refinancing and referred the transaction to CIT Northbridge Credit.
  • SFNet, SBA Agree to Revised EIDL Subordination Terms for Lenders Effective Immediately
    Oct 3, 2022
    We are pleased to announce that SFNet, with the assistance of various of its members, has successfully negotiated a consensual form of subordination agreement with the Small Business Administration (“SBA”) allowing asset-based lenders priority over certain of the same collateral granted to the SBA  under an SBA facility whether the ABL facility is put in place prior to or after the SBA facility goes into effect.
  • Interview with Wells Fargo’s Mary Katherine Dubose
    Oct 3, 2022
    In July, Wells Fargo & Company announced Mary Katherine DuBose as the head of the bank’s secured lending division that includes asset-based lending, equipment finance, supply chain finance, and inventory finance. In this role, DuBose leads key lending divisions for Commercial Banking, delivering streamlined, efficient working capital solutions to serve the needs of clients globally. Through the broad portfolio of secured lending solutions, she works directly with clients, lending on a wide variety of collateral. DuBose reports to Kyle Hranicky, CEO of Wells Fargo Commercial Banking.
  • SFNet Announces Governance Boards Leadership
    Oct 3, 2022
    The SFNet Executive Committee and Member Directors of the Secured Finance Network have approved its FY23 SFNet Executive and Management Committee members.  In addition, the Secured Finance Foundation Board and its Member Donors have approved the FY23 SF Foundation Board and Officers.  These roles are essential to SFNet’s and SFFound’s governance process and to shaping the future of the organizations. SFNet encourages volunteers to join the committees listed below as the chairs develop their agendas in line with SFNet’s and SFFound’s mission and goals.
  • Jeter to Serve as BOK Financial Commercial Banking Executive Director
    Sep 29, 2022
    David Jeter has been named executive director for BOK Financial’s Commercial Banking line of business. The line of business, which generally serves owner-managed companies and nonprofits with $5 million to $50 million in revenue, is one of the company’s largest lines of business.
  • PNC Business Credit’s DEI Initiatives
    Sep 28, 2022
    After gathering information from various PNC program managers, Eileen Kowalski discusses the DEI initiatives of PNC Bank N.A. and more specifically those of PNC Business Credit.
  • BMO’s Asset-Based Lending Group Serves as Administrative Agent and Sole Underwriter and Bookrunner on a $250 Million Senior Secured ABL Revolver Facility
    Sep 28, 2022
    BMO’s Asset-Based Lending group serves as Administrative Agent and Sole Underwriter and Bookrunner on a $250 million Senior Secured ABL Revolver facility to support the Centre Lane Partners led merger of its portfolio company Hollander Sleep & Décor with Keeco, LLC.
  • CIT Arranges $58.9 Million Financing for Micro-Hospital Portfolio

    CIT, a division of First Citizens Bank, today announced that its Healthcare Finance business served as lead arranger of $58.9 million in financing for the acquisition of a portfolio of six micro-hospitals.

    The buyer is a joint venture directed by an affiliate of Rethink Healthcare Real Estate, formerly Seavest Healthcare Properties. Each property within the portfolio is branded Baylor Scott & White Emergency Hospital.