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  • First Citizens Middle Market Banking Provides $60 Million to Bahakel Communications
    May 10, 2022

    First Citizens Bank today announced that its Middle Market Banking business provided a $60 million loan to Bahakel Communications to refinance existing debt and help finance future growth opportunities.

    Bahakel Communications is a family owned-and-operated radio and television broadcast company headquartered in Charlotte, North Carolina, with additional locations in South Carolina, Alabama, Tennessee and Colorado. 

  • Monroe Capital Hires Gordon Saint-Denis to Head Sports Finance Vertical
    May 10, 2022
    Monroe Capital LLC (“Monroe”) today announced Gordon Saint-Denis has joined the firm as Managing Director, Head of Sports Finance. Gordon will be responsible for originating new investments across the capital structure for acquisition financing and recapitalizations for all major sports teams and venues in North America and Europe as well as other businesses in the sports ecosystem such as soccer, rugby, cycling, racing, golf, endurance races, e-sports and sports technology companies, merchandising, name, image and likeness (NILs), ticketing, and equipment companies.
  • Bankruptcy & Restructuring - Where are we Now? Update 2022
    May 9, 2022
    The last two years have been a roller coaster for businesses. The early pandemic lockdowns initially wreaked havoc on small businesses; and then we saw what some consider to be a market overcorrection. Relief came in the form of PPP loans, Main Street Lending, and various other subsidies and programs. We look to the data – year over year commercial bankruptcy filings are down 31% and Chapter 11 filings are down 48%. Comparing 2021 to 2019, commercial bankruptcy filings are down 31% and Chapter 11 filings are down 33%.  
  • White Oak Provides $21.3 Million Senior Credit Facility to Support Salt Creek Capital’s Acquisition of Omni Recycling
    May 9, 2022
    White Oak Global Advisors LLC (“White Oak”) announced today it has provided a $21.3 million senior credit facility to Omni Recycling (“Omni”), a leading single-stream recycling and waste disposal company. The transaction supported Salt Creek Capital’s (“Salt Creek”) acquisition of the company. Salt Creek is a San Francisco Bay Area-based private equity firm that partners with lower middle-market businesses to accelerate growth and improve operating efficiencies.
  • Cambridge Savings Bank Provides Modera Wealth Management with $26 Million Financing Package to Power M&A Growth, Build Out Employee Equity Strategy
    May 6, 2022
    Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, today announced that its Commercial Lending team provided a $26 million financing package over the life of the relationship, including both a refinance of existing debt and new debt, to Modera Wealth Management, LLC (MWM) and individual members of its ownership group.
  • eCapital Corp. Names Raphael Torres as New Managing Director of Staffing
    May 4, 2022
    eCapital Corp. (“eCapital”), a leading alternative finance provider in North America and the U.K., has named Raphael Torres its new Managing Director of Staffing, a key division of its Commercial Finance group. Raphael will lead a specialized team of account management and operations professionals to support the unique financial needs of the staffing industry.
  • Wingspire Capital & TCW Private Credit Provide Unitranche Senior Credit Facility to cabi
    May 3, 2022
    Wingspire Capital LLC and TCW Asset Management Company LLC together provided a unitranche senior credit facility to women’s apparel brand cabi LLC.
  • Charlie Perer Next Frontier in Lending: High Net-Worth Lending
    May 2, 2022
    Innovation in high net-worth lending is primed to be a new frontier in credit.  Rarely do opportunities exist to make waves in lending, but this is one.  Banks and wire houses are conservative and working on traditional lending models that limit borrower options for untapped equity in multiple forms of assets.  There is also a wall between consumer and business lending units so most banks cannot take a holistic approach to a business owner’s business and personal assets.  Several groups working together can, but this takes time, adds complexity and still has its limitations in a regulatory and traditional banking environment.  Coincidentally, both commercial lenders and wealth managers are starting to converge on this space and each other’s turf by changing their offerings.  
  • eCapital Acquires CNH Finance
    May 2, 2022

    eCapital Corp. (“eCapital” or “the Company”), a leading finance provider for businesses across North America and the UK, today announced the acquisition of CNH Finance, a Connecticut-based, specialty finance company focused on the healthcare industry. 

  • Fourshore Partners Announces Acquisition of Celtic Capital Corporation
    May 2, 2022

    Fourshore Partners (Fourshore) announced today its acquisition of Celtic Capital Corporation (“Celtic” or “Company”), a financial services company specializing in asset-based lending to middle-market companies nationwide. With an appetite for the more complex transactions, Celtic Capital has a history of success in crafting creative, flexible financing solutions with no financial covenants. 

  • Eileen Wubbe 150x150 SFNet's International Lending Conference Returns to London May 23-25, 2022
    Apr 28, 2022

    SFNet's International Lending Conference will be held in person May 23 to 25, 2022 at DLA Piper Offices in London, UK. The Conference is geared towards those active in the international lending space, who need a clear understanding of the current global landscape, what may be on the horizon, and what it all means for your business. Some of the most interesting players on the international lending scene will gather for discussions and insights into what lies ahead.

    “After two years, we are very excited to get back together in person with our favorite colleagues in the world of international lending—to catch up and to talk about new opportunities,” said David Morse, partner, Otterbourg P.C.  “This is a conference where you always learn something new and pick up some interesting bit of information that helps you in thinking about your cross-border deals. The panels this year run the gamut from high-level reviews of market issues from some of the most-informed and thoughtful people in the industry to the nuts and bolts, practical issues of making secured cross-border loans work.”

  • CIT Northbridge Provides $65 Million to Family Care Company Hello Bello™
    Apr 28, 2022
    CIT Northbridge Credit, as advised by CIT Asset Management LLC, has served as sole lead arranger on a $65 million credit facility for Hello Bello, a manufacturer and marketer of baby, child and adult care products.

    Launched in 2019 by co-founders Kristen Bell and Dax Shepard, Hello Bello is a parenting platform providing premium and affordable products designed to eliminate the choice many parents have to make between what’s best for their family or best for their budget. 
  • Great Rock Capital Provides $25MM of Liquidity to Industry Leading Compression Service Provider
    Apr 27, 2022
    Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced it has provided $25.0 million of liquidity through a senior secured credit facility to support Natural Gas Compression Systems (“NGCS”), a Michigan-based full-service gas compression equipment and service business throughout the United States and Canada.
  • Monroe Capital Closes on $4.8 Billion of Direct Lending Funds
    Monroe Capital LLC (“Monroe”) today announced the final close of its 2022 Monroe Capital Private Credit Fund IV (“Fund”) with $4.8 billion of investable capital, including targeted fund leverage and separately managed accounts investing alongside the Fund.  The Fund has limited partner commitments with over 300 investors in 17 countries.  The Fund primarily targets private equity sponsored and non-sponsored, lower middle-market U.S. companies with less than $35 million in EBITDA. 
  • Second Avenue Capital Partners Closes On A Senior Secured Credit Facility For myGemma
    Apr 26, 2022
    Second Avenue Capital Partners, LLC (“SACP”) (www.secondavecp.com) announced it has closed on a $10,000,000 senior secured credit facility (which includes an accordion feature) for myGemma, a modern and professional alternative for consumers wanting to buy or sell high-end luxury goods. The credit facility will be used to support increased working capital and additional inventory purchases as the business continues to rapidly grow.
  • Laura Kemper Glass-2022 Headshot Interview with Laura Kemper Glass, Chair of SFNet’s Women in Secured Finance Committee
    Apr 25, 2022
    Laura Kemper Glass, chair of SFNet’s WISF Committee, is senior vice president and senior portfolio manager for Bank of America Business Capital (BABC).  Based in Atlanta, Glass is responsible for the middle market and large corporate asset-based lending portfolio in the Eastern United States and Europe and the lower middle market portfolio nationwide. In this role, she leads a team of credit professionals responsible for managing a $20 billion portfolio of credit commitments in the asset-based lending plus related products and solutions. 

    Editor’s Note: SFNet’s WISF Conference will be held June 15-16 in New York City. For details click here.
  • Crestmark, the Commercial Finance division of MetaBank®, Welcomes Richard Flamang and Ralph Aurelia to the Commercial Lending Development Team
    Apr 25, 2022
    Crestmark, the Commercial Finance division of MetaBank®, N.A., is pleased to announce the additions of Richard Flamang and Ralph Aurelia as experienced business development team members to the Working Capital group. They will be responsible to enhance the growth of small- to medium-sized businesses by providing asset-based lending solutions.
  • Gordon Brothers Expands Capital Base to Over $1 Billion with New CPP Investments Financing
    Apr 21, 2022

    Gordon Brothers, the global advisory, restructuring and investment firm, has received $300 million in financing from Canada Pension Plan Investment Board (CPP Investments) through its subsidiary CPPIB Credit Investments Inc., increasing the firm’s capital base to over $1 billion.

    This financing will fuel the continued rapid growth of the firm’s capital offerings, which generated over $700 million in originations worldwide in 2021, building on billions of assets traded and financed in recent years.

  • Greenbacker Secures $76 Million Credit Agreement with Fifth Third Bank and PNC Capital Markets
    Apr 20, 2022
    Greenbacker Renewable Energy Company LLC (“GREC” or “Greenbacker”), a leading owner and operator of sustainable infrastructure and energy efficiency projects, has entered into a senior credit agreement of $76.3 million with joint lead arrangers Fifth Third Bank, National Association, and PNC Capital Markets LLC. Morgan Stanley Renewables Inc. served as tax equity investor. Fifth Third Bank also served as administrative agent.
  • First Citizens Adds Linda Stanley to its Middle Market Banking Business

    First Citizens Bank today announced that it has hired experienced banker Linda Stanley as a relationship manager in its Middle Market Banking business.

    In this role, Stanley will be responsible for developing, maintaining and expanding client and prospect relationships in the middle market financing sector, where the bank is a leader.