CIT Group Inc. (NYSE: CIT) today announced that CIT Northbridge Credit, as advised by CIT Asset Management LLC, served as sole lead arranger on a $50 million credit facility for Intermetal Rebar LLC.

Headquartered in Miami, Florida, Intermetal Rebar is a leading importer and distributor of reinforcing bar ("rebar") and other structural products to distributors, fabricators, and contractors in the non-residential construction industry.

North Mill Capital LLC (d/b/a SLR Business Credit) (the “Company” or “SLR-BC”), today announced that it acquired Fast Pay Partners, LLC.    Based in Los Angeles, CA, Fast Pay Partners enables clients to accelerate receivables and access liquidity through its asset based lending and factoring platform which primarily services media firms in the United States.

SFNet will be hosting part two of its Independent Finance Roundtable 2021 August 17 - 19, 2021 in-person at the Renaissance Chicago Downtown Hotel in Chicago, IL. For 2021, we created a unique, invitation-only experience for senior executives from SFNet member entrepreneurial finance and factoring companies. IFR 2021 is a two-part event. The first part on April 27 was a free, live online roundtable discussion and an overview of our August in-person agenda. Panelists and attendees will come together next week to discuss the state of M&A, legal issues impacting our industry, and other timely topics that may affect your business.

In addition to the roundtable meetings and discussions, IFR will offer optional activities to take full advantage of your time in Chicago.

Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending and purchase order financing firm in the U.S., today announced the completion of a recent $30 million inventory purchase commitment to support the production financing requirements of a California-based importer and distributor of solar panels.

The company had been reflecting moderate sales growth from its existing customer base. Due to increasing demand for solar energy solutions, the company began to significantly expand its customer base nationwide. Production cycle timing, a challenging shipping schedule and ongoing freight and logistics issues impacting importers from Asia prompted the company to explore additional financing options as an alternative to raising equity with its existing third-party factoring company. The third-party factor introduced the client to Rosenthal to assist the client in structuring a purchase order financing solution.

Siena Lending Group LLC ("Siena"), a leading independent asset-based lending company, today announced it has increased its senior credit facility with Wells Fargo Capital Finance to $400 million. This upsize will enable Siena to continue its growth following the firm’s historic results in the second quarter of 2021, when it closed more than $220 million in credit facilities for middle-market businesses across the country.

CIT Group Inc. (NYSE: CIT) today announced that its Healthcare Finance business served as lead arranger of $100 million in financing for Cornerstone Healthcare Group Holdings Inc. and their long-term acute care hospital division.

Based in Dallas and founded in 1990, Cornerstone Healthcare Group is a diversified healthcare company that manages a network of specialty hospitals, senior living communities, behavioral health facilities, and home health and hospice operations.

SFNet’s 2021 4th annual YoPro Leadership Summit will be held in-person in Chicago and live online August 3-4. Young professionals of the secured finance industry will join together for opportunities to hear from industry leaders, connect with peers, and discover together how to find success in our changing industry environment.

After a more than a year of countless Zooms and Teams meetings, this year’s event will offer attendees opportunities to socialize in unique ways.  On August 3, there will be an opportunity to attend an optional golf outing at Medinah Country Club, followed by a kick-off party in the evening. 

Afterwards, attendees can stick around for a kick-off party from 7:00-10:00 p.m. CDT at Flight Club, offering drinks and friendly darts competition. A full day of live online content will take place on August 4.

"The YoPro Leadership Summit is a wonderful event that brings together the best and brightest of the YoPro community throughout the country," said William Bence, managing director, Wingspire Capital. "It's a great opportunity to network among the future and emerging leaders in the industry."

United States Steel Corporation (NYSE: X) (“U. S. Steel” or “company”) today announced changes to two asset-based credit facilities that reward performance for meeting sustainability targets. This is part of the ongoing execution of the company’s Best for All℠ strategy of creating profitable solutions for sustainable steelmaking.

J.P. Morgan Securities LLC and ING Capital LLC acted as Joint Sustainability Structuring Agents in the U. S. Steel Sustainability-linked ABL. Goldman Sachs Bank NA and ING Capital LLC acted as Joint Sustainability Structuring Agents in the BRS Sustainability-linked ABL.

White Oak Commercial Finance, LLC (“White Oak”), an affiliate of White Oak Global Advisors, LLC, announced today that it is expanding its retail offering with the formation of its new National Retail Finance Group to meet the growing demand for custom funding solutions by retail companies pivoting their business models to meet fast-changing market trends, including the industry’s increased investment in ecommerce.

The White Oak teams driving the effort span the U.S. and include this newly formed group led by Bill Kearney, as well as senior regional executives Martin Efron, Charles Sharf, and Gino Clark.