Citizens announced today that it provided a $20 million revolving line of credit to New York-based luxury fashion retailer Oscar de la Renta.

“Citizens bankers are trusted partners who listened to us, brought great ideas and believed in our growth plans,” said Alex Bolen, CEO of Oscar de la Renta. “The Citizens team has deep knowledge of the retail landscape and their close attention to detail made for a seamless execution.”

Brand executive and corporate counsel Eric Gul has joined Tiger Group as a Managing Director. Most recently General Counsel at Sequential Brands Group, Inc., Gul brings 22 years of experience in advising both public and private companies on IP, licensing, M&A, divestitures, financings and other matters involving consumer-facing brands.

Based in New York, Gul joins Tiger Group at a time when the asset valuation, disposition and finance firm is scaling up its practice of appraising and verifying brand value as lending collateral. He will play a central role in those efforts and will also bring his expertise to projects involving licensing, M&A and new IP investment opportunities.

TSL’s editor-in-chief sat down with several members of the SFNet Factoring Committee to review the current landscape in early 2022. Participants include Carol Apicella, senior vice president, BankFinancial Government Finance; Tina Capobianco, senior vice president, J D Factors Corporation; Dan Karas, executive vice president, Allied Affiliated Funding; Kevin Laborde, president, Cash Flow Resources; and Paul Schuldiner, executive vice president & chief lending officer, Rosenthal & Rosenthal, Inc.

White Oak Commercial Finance, LLC (“White Oak”), an affiliate of White Oak Global Advisors, LLC, announced it provided a $7 million factoring facility to a technology-focused staffing firm specialized in automating and streamlining temporary staffing services to warehouse and distribution centers throughout the United States.

The transaction was structured against the company’s accounts receivable for working capital and to support the growth of its innovative services to light industrial companies and managed service providers (MSPs).

CIT, a division of First Citizens Bank, today announced a reorganization of its Commercial Services factoring business to position it for accelerated growth by providing even better service for clients and prospects.

CIT Commercial Services is one of the nation's leading providers of factoring, credit protection, accounts receivable management and lending services to consumer product companies, manufacturers, dealers, importers and resellers.

Great Elm Capital Corp. (“we,” “us,” “our,” or “GECC”) (NASDAQ: GECC), a business development company, today announced that it has launched Great Elm Utica, LLC (“GEU”), a joint venture between GECC and Utica Leaseco, LLC (“Utica”), to co-invest in proprietary equipment financing transactions sourced by Utica.

Citizens announced today that its Commercial Real Estate Finance team is leading a $300 million construction loan to Atlanta-based Agile Cold Storage for the construction of new cold storage facilities as the company expands nationally. Citizens is Lead Left Arranger and Administrative Agent.

The company currently owns and operates two state-of-the-art, newly completed cold storage facilities in Cartersville, GA and Gainesville, GA.

Bank of America Business Capital announced that Jennifer Cann has joined as senior vice president and head of the Retail Finance Group Portfolio. Based in Boston, Jenn manages the ABL Retail Portfolio team responsible for credit, monitoring and strategic development. 

Voyager Aviation Holdings, LLC (“VAH”), a global full-service aircraft asset lessor and manager, announced the closing of a five-year senior secured warehouse facility with an initial committed amount of $500 million (“the Facility”).

Citibank, N.A. (“Citi”) acted as Global Coordinator and Co-Structuring Agent alongside Credit Suisse Securities (USA) LLC (“Credit Suisse”) as Co-Structuring Agent. Citi and Credit Suisse both acted as Joint Lead Arrangers on the Facility. The initial syndicate of lenders also includes Deutsche Bank and Morgan Stanley.

Siena Lending Group LLC ("Siena"), a leading asset-based lender, today announced the closing of a $70 million credit facility with Navajo Transitional Energy Company, LLC (“NTEC”). The financing solution includes a $50 million asset-based revolving credit facility and a $20 million second lien term loan arranged by Siena.

The new three-year credit facility was used to complete a strategic acquisition, refinance existing debt and provide additional capital to support NTEC’s strong ongoing growth. The acquisition advances NTEC’s efforts to continue diversifying beyond its core coal mining business, which supports electricity production for vital energy needs throughout The United States and in global power markets.

In this installment of our series of executive interviews, Charlie Perer sits with Tim Knight (pictured) to hear his perspective on executive development, advice for lenders, the growth in the non-bank market, what every executive should be thinking about, the importance of diversity and lessons learned, among other things.

Knight is the vice president and senior managing partner with ThinkingAhead where he is responsible for operations, training and recruiting for the firm. He also leads the partner group that heads up the firm’s Commercial Banking and Commercial Finance, Legal, Life Sciences and Security/Physical infrastructure search practices.

CNH Finance is pleased to announce it closed more than 40 facilities during 2021 totaling over $160 million new commitments. These results signify its commitment to long-term stabilized portfolio growth through building new client relationships and supporting growth in existing partnerships.

New and existing partnership servicing includes supporting growth and asset-based lending capital needs of healthcare providers in the long-term care, skilled nursing, hospital, behavioral health, and other healthcare provider sectors. The CNHF Commercial and Industrial transaction portfolio remains robust as well.

Cogent Bank announced today that its Specialty Lending Group doubled its loan commitments from $100 million to $200 million in 2021. 

Cogent Bank’s Specialty Lending Group focuses on asset-based lending, lender finance and recurring revenue lending, with transaction size ranging from $1 million to $15 million.  Mike Skat, Executive Vice President of the Group, credits his highly skilled and dedicated team for producing such outstanding results.