CIT, a division of First Citizens Bank, today announced that it is launching a new lending and leasing vertical focused on financing fleet golf cars, turf (grounds care) equipment, utility vehicles and similar equipment.

Golf & Turf is part of CIT’s Business Capital group, which is already a national leader in equipment financing solutions for small and mid-size businesses across a wide range of market sectors, including technology, office imaging, printing, construction, industrial and many others.

Kowalski is a 30-plus year veteran of commercial finance and asset-based lending. She is integral to PNCBC’s Field Exam training program and to the team tasked with developing talent for PNCBC. Eileen joined PNCBC in 2004 as an AVP & Senior Field Examiner after serving as a Field Examiner for a predecessor bank of M&T Bank and an AVP & Senior Field Examiner with LaSalle Bank. Eileen’s responsibilities also include field exam quality control, campus and experienced hire recruiting activities and she serves as editor-in-chief for the quarterly PNCBC employee newsletter. She chairs the Business Credit D&I Committee and is a member of the C&IB/AMG DEI Council.  Eileen is a member of the SFNet Education Committee, the SFNet DEI Committee and is the SFNet Education Champion for PNCBC. She is also a member of the quarterly WISF Newsletter committee.

Eclipse Business Capital LLC (“EBC”) announced today that it has provided a $15 million senior secured revolving credit facility to a commercial hospitality furniture manufacturer and designer.

The credit facility is secured by accounts receivable and inventory and will be used to refinance an existing facility and to support ongoing working capital.

White Oak Healthcare Finance, LLC (“White Oak”) announced today that it acted as sole lender and administrative agent for a $395 million senior credit facility to Genesis Healthcare, Inc. (“Genesis”).

With roots dating back to 1985, Genesis is a holding company with subsidiaries that, on a combined basis, offer services to more than 250 skilled nursing facilities and assisted/senior living communities in 22 states nationwide. Genesis affiliates provide high-quality post-acute care, long-term care and assisted/senior living services in the local markets in which they serve.

Ikhwan Rafeek is a Member in the Otterbourg P.C.’s Banking and Finance Department.

Ikhwan represents institutional lenders, banks, commercial finance companies, and factors in connection with the documentation of domestic and international secured lending arrangements, including asset-based, term loan, healthcare, real estate, middle market, leveraged, and first and second lien loan transactions.  Mr. Rafeek also frequently represents secured lenders in workouts and restructurings, and in portfolio acquisitions and dispositions.

What’s in fashion for factoring this coming spring? Quite a bit. This year’s trends show what we’ve all been keeping under wraps for the last two years, and we’ll be seeing some definite changes.

White Oak Commercial Finance ("White Oak"), an affiliate of White Oak Global Advisors, is pleased to announce it has promoted five account executives dedicated to serving its national client base across a range of industries in its New York and Los Angeles offices.

In New York, Laquanda Franklin, Ethan Rosenblum, and Teresa Chan were promoted to Senior Vice Presidents. Ryan Power was promoted to Vice President. All members of the New York team report to Executive Vice President Martin Efron. In Los Angeles, Donald Norman was promoted to Senior Vice President and reports to Executive Vice President Gino Clark.

Robert Grbic has more than 30 years of commercial lending experience. He has been with the company and its predecessor since 2005, previously serving as senior executive vice president and chief credit officer where he was involved in creating a hands-on, best-practices credit culture, as well as helping the Company expand its client portfolio.

Before that, Grbic was managing director at MorrisAnderson & Associates ltd., a turnaround-consulting firm. He also co-founded MetSource Capital, LLC, a restructuring and corporate finance firm, working primarily with small- and medium-sized companies. In addition, Grbic has also served at GMAC Commercial Credit, LLC, BNY Financial Corp and Bankers Trust. He has served as an instructor for the Finance, Tax and Law Department at the NYU School of Continuing Education. Grbic holds master’s and bachelor’s degrees in Business Administration from Pace University.

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.