- Gray Television Makes Significant Progress on Debt Reduction and Replenishes Authorization for Additional Debt Reduction
- BHI Provides $38.7 Million in Financing to EPIRE for the Construction of One Jones Park, A 75 Unit Multifamily Development at 387 8th Street in Jersey City
- Gateway Trade Funding Completes 17 Stretch Finance Transactions Totaling Almost $5,000,000
- Asset-Based Lending & Factoring Surveys
- Peritus Capital Secures Term Loan for Oberland Agriscience to Drive Sustainable Protein Production
TSL Express Daily Articles & News
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Entrepreneur Growth Capital LLC Completes $8.0 Million Credit Facility for Wholesale Distributor Company
The facility includes a $4 million revolver and a $4 million term loan that will repay existing debt, support current operations and permit management to pursue several growth strategies.
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SFNet's International Finance and Development Committee has recently announced the launch of its ABL Cross-Border Database. The database is a comprehensive compilation of information from publicly available credit agreements in large cross-border asset-based loans. The database currently includes 61 transactions, representing all ABL cross-border transactions closed and filed with the SEC from 2011 to present (excluding those transactions involving only the United States and Canada), and will be updated regularly to cover new transactions.
TSL Express Daily Headlines & News
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Horizon Bank Announces Equipment Finance Division led by Joel Mikolich
October 31, 2023Horizon Bank announced today the formation of a new equipment finance division to be led by Joel Mikolich as the division President. The new division will provide business equipment financing solutions to small and medium sized businesses nationwide, while enhancing Horizon’s depth of services to its existing clients providing for continued profitable growth in Horizon’s Commercial platform.
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KeyBanc Capital Markets Appoints Ben Rechkemmer To Lead Native American Financial Services
October 31, 2023KeyBanc Capital Markets Inc. (“KBCM”), the corporate and investment banking arm of KeyCorp (NYSE:KEY), announced the appointment of Ben Rechkemmer to head of Native American Financial Services (NASF). Rechkemmer is based in Michigan and will report to Mike Jackson, KeyBanc Capital Markets segment leader.
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Orrick Grows Asset-Backed Securitization Team in New York
October 31, 2023Orion brings deep experience in securitizations and other asset-based financings in the fintech and solar energy spaces, aligning with Orrick’s leading practices serving both of those markets, as well as a foundation in consumer lending.
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Premier Health Secures Debt Financing for its Previously Announced Acquisition
October 31, 2023Premier Health of America Inc. (TSXV: PHA) (“Premier Health” or the “Corporation”), a leading Canadian Healthtech company, is announcing a $50 million secured credit package (the “Secured Financing”) aimed at closing the acquisition of Solution Staffing Inc. (the “Transaction”), which was announced on July 4th, 2023, including a refinancing of its current revolving facility and new term loans to finance the Transaction.
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Sunlight Financial Acquired by Leading Solar Industry Investors
October 31, 2023Weil, Gotshal & Manges LLP is serving as legal counsel, Guggenheim Securities, LLC is serving as Investment Banker and Alvarez & Marsal is providing financial advisory services to Sunlight Financial. Locke Lord LLP is serving as legal counsel to the Consortium. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel and Piper Sandler is providing financial advisory services to CRB.
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Citizens Business Conditions Index™ Rebounds Slightly in Q3
October 31, 2023A strong labor market and resilient consumer trends supported a slight improvement in economic conditions during the third quarter as inflation showed some signs of abating, according to the national Citizens Business Conditions Index™ (CBCI), released today. After falling below 50 in the second quarter, the index rose to 50.7 in the third quarter, signaling a return to modest growth.
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Above Lending Closes $200 Million Warehouse Facility Led by ATLAS SP Partners
October 31, 2023Above Lending, a leading national provider of consumer installment loans, today announced the closing of a $200-million warehouse facility (the “Financing”) led by ATLAS SP Partners ("ATLAS SP"), which is acting as Administrative Agent.
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Harbor Mexico Welcomes New Leadership Team to Drive Franchise Success and Explore Thriving Opportunities in Latam Trade
October 30, 2023Harbor Mexico Welcomes New Leadership Team to Drive Franchise Success and Explore Thriving Opportunities in Latam Trade
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Wintrust Receivables Finance Announces the Closing of a New $15 Million Line of Credit for a Fast-Growing Third-Party Logistics Firm
October 30, 2023Wintrust Receivables Finance (WRF) is happy to announce the closing of a new $15 million account receivable line of credit for a Southwest-based, third-party logistics firm. The company focuses on full truckload freight for enterprise shippers from across the country.
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Twinco Capital Secures €50M Debt Facility to Bridge Trade Finance Gap
October 30, 2023Spanish firm Twinco Capital made headlines as it recently secured a €50m facility with BBVA Spark, aiming to enhance its growth trajectory.
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Morgan Stanley Announces Ted Pick to Become Chief Executive Officer on January 1, 2024; James Gorman to Become Executive Chairman
October 30, 2023The Board of Directors of Morgan Stanley (NYSE: MS) today announced that Co-President Edward (Ted) Pick will become the Firm’s Chief Executive Officer, effective January 1, 2024. James Gorman will become Executive Chairman. Mr. Pick will also join Morgan Stanley’s Board of Directors at that time.
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Cambridge Savings Bank Approves a $250,000 Loan to Woman-Owned Enhanced Mechanical Contracting
October 30, 2023Completed during National Women’s Small Business Month, financing enables the local HVAC company to turbo charge growth by leveraging market gaps
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Moore Colson Admits John Makuch as Consulting Partner
October 30, 2023Moore Colson, an award-winning accounting, consulting and advisory firm in Atlanta, recently announced the addition of John Makuch as a Partner in Moore Colson’s Consulting Practice.
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Wolters Kluwer Q3 Auto Finance Digital Transformation Index Shows Digital Adoption Rate Mirroring Auto Sales
October 30, 2023Wolters Kluwer, a global leader in professional information, software solutions and services, announced third quarter results and analysis from its Auto Finance Digital Transformation Index, a key resource that tracks the rate at which auto dealers, service providers and lenders are seeing growth in the evolution from paper-based finance back-office processes to digital. Click here to see the complete data report.
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Ruling Delays Dodd Frank 1071 Implementation
October 30, 2023A federal judge in Texas issued an order this week that subjects the Consumer Financial Protection Bureau’s (CFPB) 1071 small business lending data collection rule is to a nationwide injunction.
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Water Gremlin Announces Advancement of Sale Process With Receipt of Multiple Offers to Acquire U.S. and European Divisions
October 30, 2023Water Gremlin (the "Company"), a market-leading manufacturer of essential components for batteries used to power the commercial, consumer, military, and government transportation and infrastructure sectors, today announced that it is evaluating multiple compelling offers from interested parties to acquire substantially all of the assets of its U.S. and European divisions.
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River City Bank Announces Restructure of Risk Management Department
October 30, 2023River City Bank's President and CEO Steve Fleming recently announced the restructure of the bank's risk management department, which will be implemented Nov. 1, 2023.
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Vice Chairman Thomas R. Nides to Leave Wells Fargo and William M. Daley to Return to Prior Role
October 30, 2023Wells Fargo today announced that its Vice Chairman, Thomas R. Nides, has decided to leave the company to return his attention to events in the Middle East. Nides joined the company in September after retiring in July as U.S. Ambassador to Israel, a post he had held since 2021.
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Republic Bancorp and Norcross Braca Group Announce $35 Million Investment
October 30, 2023Republic First Bancorp, Inc. (OTCEM: FRBK) (“Republic” or the “Company”), the parent company of Republic First Bank d/b/a Republic Bank, and George E. Norcross, III, Gregory B. Braca, Philip A. Norcross, Lexie Norcross, other Norcross family members and affiliates (collectively, the “Norcross Braca Group”), today announced that they have signed a Securities Purchase Agreement to effectuate a $35 million investment by the Norcross Braca Group.
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Old National to Partner with Nashville-based CapStar
October 30, 2023Old National Bancorp (NASDAQ: ONB) (“Old National”) and CapStar Financial Holdings, Inc. (NASDAQ: CSTR) (“CapStar”) jointly announced today that they have entered into a definitive merger agreement for Old National to acquire CapStar in an all-stock transaction.
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The Secured Lender
SFNet's 80th Annual Convention Issue