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  • Great Rock Capital Names Chief Commercial Officer
    Jul 18, 2022
    Great Rock Capital is pleased to announce the promotion of Jim Clifton to Chief Commercial Officer. Jim will be based in Chicago and is responsible for expanding the firm’s origination efforts and strategic relationships across North America.
  • Juanita Schwartzkopf_150 What Are the Top Cybersecurity Concerns for 2022?
    Jul 18, 2022

    With the second half of 2022 underway, it is a good time to evaluate cybersecurity issues and concerns. The cybersecurity front continues to be an area of significant risk for businesses. In this article we will explore recent trends, and specific industries at more risk of attack. For a perspective on the dollar impact, the largest payment in 2021 was a $40 million payment made by an insurance company. For a perspective on number of attacks, there is a cyber-attack every 11 seconds.

    The National Cyber Security Alliance estimated that 60% of small businesses fail within six months of an attack. 

  • Huntington Business Credit Closes a $175 Million new Credit Facility With Second Avenue Capital Partners, LLC
    Jul 14, 2022
    Huntington Business Credit acting as Administrative Agent, Bookrunner and Lead Arranger announced it closed a $175,000,000 new credit facility with Second Avenue Capital Partners, LLC on June 27, 2022.  Proceeds of the facility were used to refinance existing indebtedness and provide ongoing growth financing.         
  • Encina Lender Finance Expands and Strengthens Senior Management Team With Addition Of Four Industry Veterans and Key Promotion
    Jul 13, 2022
     Encina Lender Finance, LLC (“ELF”) announced today a significant expansion to its executive leadership team designed to bolster the company’s position as a leading nonbank lender finance platform serving both commercial and consumer specialty finance companies in the U.S. and Canada. 

    The new hires are: Edward Chang - chief executive officer; Mark Kassis - head of Risk Management, Commercial Vertical; Bill Laird – head of Risk Management, Consumer Vertical and David Mattei – managing director, Funding Strategy.  Additionally, John Thomas was promoted to president and chief operating officer.

  • Anthony Lavinio Joins Entrepreneur Growth Capital as President
    Jul 12, 2022
    Entrepreneur Growth Capital (“EGC”), headquartered in New York City, announced today that Anthony Lavinio has joined the company and has been named President of the organization.  Anthony will focus on growing the business while leading the team in structuring financing solutions to small and lower middle market businesses.
  • Mignon Winston_150 Mentoring or “Holding the door for those entering behind you”
    Unless you’re the most junior person in your work environment, everyone should mentor their less-experienced team members.  Helping them learn should be as natural an effort as holding the door for those entering a room behind you.  These efforts will create experienced individuals with broad-based perspectives on how to approach their responsibilities within the secured lending industry.  Leaders within SFNet member organizations generally agree there is a lack of “bench strength” in the secured lending industry.  Greater preponderance of mentoring would tie junior people more to their organizations and to the industry as a whole.
  • Bhargava-Mithu-Solifi_2022_150 Solifi Names Mithu Bhargava as President
    Jul 12, 2022
    Solifi™, a global fintech software partner for secured finance, announced that Mithu Bhargava joined the company as its first president. In this newly created position on the Solifi executive team, Bhargava brings more than 20 years of operational leadership to drive the delivery of scalable, sustainable, high-performing software-as-a-service (SaaS) products for the secured finance industry.
  • Star Group, L.P. Announces New Credit Facility

    The bank syndicate supporting the credit facility is comprised of ten participants acting in various capacities, with JPMorgan Chase Bank, N.A. as Administrative Agent, Bank of America, N.A. and Citizens Bank, N.A. as Co-Syndication Agents, Keybank National Association, TD Bank, N.A., BMO Harris Bank, N.A. and Wells Fargo Bank, National Association as Co-Documentation Agents, and J.P. Morgan Chase Bank, N.A., Bank of America, N.A. and Citizens Bank, N.A. as Joint Lead Arrangers and Joint Book Runners.

     
  • Ares Commercial Finance Provides a Senior Secured Credit Facility to Hint, Inc.
    Jul 7, 2022
    Ares Commercial Finance announced today that it has provided a senior secured credit facility to Hint, Inc. The credit facility consists of an asset based revolving line of credit. Proceeds of the credit facility were used to refinance existing indebtedness and for ongoing working capital to support growth. 
  • Coming Into Focus - TSL Inaugural Data Issue
    Jul 7, 2022
    Welcome to The Secured Lender’s first ever Industry Data Issue. Over the past several years, SFNet has invested heavily in data resources designed to improve planning, provide competitive benchmarking, and attract capital to our industry. Through resources like our groundbreaking Market Sizing and Impact Study, which dimensioned the secured finance ecosystem and will be refreshed this year, to our quarterly and annual data surveys, which continue to grow in participation, to our forward looking Market Pulse Reports, we have made great strides in capturing, analyzing, and predicting industry trends by the numbers.
  • REV Capital Announces New Commercial Finance Division with Strategic Appointment
    Jul 6, 2022
    REV Capital, the leading provider of factoring & cashflow financing in Canada and the United States announces a new Commercial Finance Division along with the appointment of Mark Dubs as President – Eastern Division.
  • FrontWell Capital Partners Provides US $10.5 Million Senior Secured Credit Facility to Belcam Beauty
    FrontWell Capital Partners Inc. (“FrontWell”) is pleased to announce the closing of a US $10.5 million senior secured credit facility to Belcam Beauty Holdco, LLC (“Belcam Beauty"), a leading manufacturer, developer, and marketer of beauty and grooming products. The facility, comprised of a revolving loan and term loan, will provide working capital liquidity and support Belcam Beauty’s strategic acquisition and growth opportunities.
  • The Secured Finance Foundation: Helping to Advance the Future of Secured Finance
    Sep 20, 2022
    The Secured Finance Foundation’s Corporate Giving Campaign, created to help prepare the next generation of leaders, provide essential data that drives smart business decisions, and invest in the communities of which our members are a part, will conclude on September 30. 

    As the secured finance industry continually grows and evolves, it takes knowledge, effort, and financial support for the Secured Finance Foundation (SFFound) to keep up with these changes and fulfill its mission. The Secured Finance Foundation encourages, facilitates, and supports education, innovation, and charitable works for the betterment of organizations and professionals who deliver and enable secured finance— and for the communities of which they are a part. Since it was founded 31 years ago, the Foundation has raised approximately $9.5 million to date. 
  • Birch Creek Development Secures $250 Million Loan Facility from Fundamental Renewables
    Jul 5, 2022
    Birch Creek Development LLC ("Birch Creek") and Fundamental Renewables, an established provider of debt financing for renewable energy projects, today announced an agreement in which Fundamental Renewables will increase its existing credit facility with Birch Creek to $250 million.
  • barry-headshot-2015 SFNet Launches In the Know Video Podcast
    Jul 5, 2022
    The Secured Finance Network is excited to launch a new video podcast today, in partnership with respected industry veteran Barry Bobrow, and sponsored by Hilco Global. “Our members continue to seek valued insights on issues critical to their businesses,” said SFNet CEO Rich Gumbrecht. “This new resource will complement existing sources of expert analysis and information SFNet provides to our community in an energizing new format.”  
  • barry-headshot-2015 SFNet Launches In the Know Video Podcast
    Jul 1, 2022
    The Secured Finance Network is excited to launch a new video podcast today, in partnership with respected industry veteran Barry Bobrow, and sponsored by Hilco Global.  “Our members continue to seek valued insights on issues critical to their businesses,” said SFNet CEO Rich Gumbrecht. “This new resource will complement existing sources of expert analysis and information SFNet provides to our community in an energizing new format.”
  • Citizens Leads $1.8 Billion Asset-Based Senior Credit Facilities for PRO Unlimited
    Jun 30, 2022

    Citizens announced that it has provided incremental financing to San Francisco-based PRO Unlimited Global Solutions Inc. PRO Unlimited is currently owned by EQT Partners.

    Established in 1991, PRO Unlimited is a leading provider of end-to-end contingent workforce management solutions to a broad range of global clients and has been a Citizens client for more than 10 years.

  • Wingspire Capital To Acquire Liberty Commercial Finance
    Wingspire Capital Holdings LLC (“Wingspire Capital”) announced an agreement to acquire Liberty Commercial Finance LLC (“Liberty”). Wingspire Capital is a portfolio company of Owl Rock Capital Corporation, a publicly traded business development company that is externally-managed by an indirect subsidiary of Blue Owl Capital Inc.
  • Hamid Namazie Summary of Approved California Regs
    Jun 28, 2022
    As many of our members are aware, legislation is popping up around the country requiring providers of commercial financings to make certain disclosures to their clients with respect to the costs associated with a commercial financing product being provided to a borrower.  The first such legislation was introduced in California in 2018 by Senator Steve Glazer, which impacted commercial financing products for $500,000 or less. 
  • Julia Gavrilov_150 Diversity, Equity and Inclusion Are the Necessary Corporate Differentiators

    A Moritt Hock & Hamroff partner discusses the potential legal implications for companies that are not committed to diversity and inclusion as increasing shareholder pressures and legal complaints mount.