Articles
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Asset-Based Lending: A Primer for Borrowers and New Hires
Aug 17, 2023
Asset-based lending offers many benefits to borrowers in need of capital, not the least of which is the partnership built between client and lender.
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Encina Lender Finance Continues Leadership Expansion with Addition of Four Seasoned Industry Veterans
Aug 15, 2023Encina Lender Finance, LLC (ELF) announced today the continued expansion of its leadership team with the addition of four seasoned industry veterans. ELF is joined by Rick Snyder as head of Originations for the Consumer Vertical, Aharon Tarnavsky as head of Originations for the Commercial Vertical, Kathy Myers as managing director of Risk, and Megan McKinless as director of Syndications.
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Thomas Siska Named SVP, Head of Factoring at eCapital, Continuing Trend of Top-Level Hires
Aug 14, 2023eCapital Corp. ("eCapital" or "the Company"), an industry leader in finance solutions for businesses throughout North America and the U.K., proudly announces a key addition to its leadership team. Thomas Siska has accepted the role of Senior Vice President (SVP), Head of Factoring, further strengthening eCapital's commitment to securing top-tier talent and enhancing its market position.
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Putting Capital to Work - Patrick Ta Beauty: SG Credit Partners’ Consumer Products Division Helps Company Flourish
Aug 14, 2023Patrick Ta was always an entrepreneur. He opened his first tanning and beauty salon at 17 years old, learning key lessons, as well as the art of the pivot that would inform his future beauty career. After closing the doors to his first venture in Scottsdale, AZ, Ta moved to Los Angeles, CA, and further explored his passion for makeup. -
Gibraltar Equipment Finance (GEF) Expands East Coast Business Development with SVP Steve Sanders
Aug 14, 2023
Gibraltar Equipment Finance (GEF) is proud to announce the expansion of its Originations team with the addition of Steve Sanders, who will be serving the East Coast as SVP of Business Development. GEF’s new hire comes on the heels of GEF’s market momentum with its growing funding activity.
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SFNet Women in Secured Finance Conference Addresses Strategies for Navigating Economic, Professional and Personal Change
Aug 9, 2023The SFNet Women in Secured Finance Committee planned and hosted a thought-provoking conference on June 14 and 15 that afforded women in secured finance an opportunity to explore strategies for navigating economic, professional and personal change, while also providing ample opportunities to network with other women in the finance industry. This day and a half conference started with a welcome reception at Paul Hastings the evening of June 14, followed by a full-day conference on June 15. -
Ares Commercial Finance Provides $35.0 Million Private Trade Receivables Securitization Facility to Behavioral Health Treatment Services Company
Aug 8, 2023Ares Commercial Finance announced today that it has provided a $35.0 million Private Trade Receivables Securitization Facility to a behavioral health treatment services organization, a portfolio company of a top-tier global private equity firm.
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New York Restructuring and Finance Team Led by Five Partners to Join Morgan Lewis
Aug 7, 2023Morgan Lewis will bolster its finance team by bringing in five partners in New York—a transactional restructuring and bankruptcy litigation team led by Richard Stern and including Michael Luskin, Stephan Hornung, Matthew O’Donnell, and Alex Talesnick. This team will further strengthen the firm’s services to financial institutions across corporate, finance, bankruptcy, litigation, and restructuring needs.
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Unleashing the Power of AI in the Secured Finance Industry: A Journey into Change and Evolution
Aug 2, 2023Change is the great shapeshifter of existence. It is the unseen artist who paints the landscape of our lives with broad strokes of innovation and evolution. In the world of secured finance, change is manifesting through a potent and promising medium—Artificial Intelligence (AI). One particular AI innovation, OpenAI’s ChatGPT, is at the frontier of this change, offering a path filled with opportunities and potential challenges. -
Legacy Corporate Lending Provides $10 Million Credit Facility to Franklin Baker Incorporated
Aug 2, 2023Legacy Corporate Lending, LLC (“Legacy”), an independent asset-based lending (ABL) company focused on serving the needs of middle market companies across North America, today announced the completion of a $10 million asset-based revolving line of credit for Franklin Baker Incorporated (“Franklin Baker”). The facility will be used to support the company’s ongoing working capital needs and continued growth.
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CEOs Unite for Progress: Taking the Pledge to Support Diversity, Equity, and Inclusion (DEI)
Aug 1, 2023As the chair of the SFNet’s Diversity, Equity and Inclusiveness Committee I meet with my committee composed of industry volunteers to discuss our mission of building diversity, equality and inclusion within our member companies, industry, and community. We seek to identify the issues and create awareness of the challenges, provide resources for improvements, and demonstrate sustained measurable positive outcomes throughout our SFNet community. -
eCapital Upsizes Bank Line to $1.4 Billion to Fuel Growth
Jul 31, 2023eCapital Corp. (“eCapital” or “the Company”), a leading technology-enabled provider of financing to small and medium-sized businesses (SMBs) across North America and the U.K., announced a $110 million increase to the syndicated bank facility supporting its asset-based lending (ABL) group. The upsize brings the total facility size to $570 million. Wells Fargo Bank acted as administrative agent for the lenders and, with Regions Bank, acted as joint lead arrangers and joint book runners for the facility.
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Regulators Announce New Proposed Rules for Capital Requirements at Large Banks
Jul 27, 2023The Office of the Comptroller of the Currency, along with the Federal Reserve and FDIC released their long anticipated interagency Notice of Rulemaking. The Proposal, which will be subject to a comment period through November 30, 2023, incorporates final components of the Basel III agreement and lays out significant changes to capital requirements for banks with over $100B in total assets.
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First Citizens Bank Serves as Lead Arranger on $211 Million Financing for North Carolina Solar Power Development
Jul 25, 2023First Citizens Bank today announced that its Energy Finance group, part of the CIT division, served as sole lead arranger on $211 million in financing for the 200-megawatt Oak Solar power plant in Gaston, North Carolina.
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Blank Rome Assembles Team of Leading Attorneys to Open Dallas Office
Jul 24, 2023Blank Rome LLP announced today the opening of a new office in Dallas—the firm’s 15th office and second in Texas—with the addition of seven attorneys. Aligning with Blank Rome’s core strengths, the Dallas team is a powerhouse combination of leading corporate, real estate, and finance attorneys with national practices. The new office is located at The Crescent in Uptown.
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First Citizens Bank Provides a $1 Million Line of Credit to The Georgia Hemp Company
Jul 24, 2023First Citizens Bank today announced that its Hemp Business provided a $1 million working capital line of credit to RYJO, parent entity of The Georgia Hemp Company, to help finance a major new promotional initiative.
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RYAM Raises $250 Million of Debt to Refinance its 2024 Notes, Improving Financial Position to Support Future Growth Opportunities
Jul 20, 2023Rayonier Advanced Materials Inc. (NYSE: RYAM) (“RYAM”), a global leader in the production of high-purity cellulose specialties and other sustainable materials, is pleased to announce that it has obtained $250 million in aggregate principal amount of secured term loan financing (the “Term Loan”) from funds managed by Oaktree Capital Management, L.P. (“Oaktree”).
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SFNet Creates the SFNet Guide to the New York Commercial Finance Disclosure Laws and Regulations
Jul 18, 2023
SFNet, through its Advocacy Committee, has created the SFNet Guide to the New York Commercial Finance Disclosure Laws and Regulations.
SFNet pleased to provide its members with what it believes is the most comprehensive Guide to complying with the controversial New York Disclosure Regulations for Commercial Finance Transactions that go into effect August 1, 2023. The Regulations apply to non-regulated commercial institutions offering financial transactions of $2.5 million or less to New York borrowers.
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Huntington Business Credit Closes $70 Million Credit Facility for Express Funeral Funding, LLC
Jul 17, 2023Huntington Business Credit acting as Administrative Agent announced it closed a $70,000,000 new credit facility with Express Funeral Funding, LLC on June 23, 2023. Proceeds of the facility were used to refinance existing debt and provide ongoing working capital financing.
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Henry Schein Enhances Liquidity Position With New $750 Million Credit Facility
Jul 13, 2023Henry Schein, Inc. (Nasdaq: HSIC), the world’s largest provider of health care solutions to office-based dental and medical professionals, today announced that it has closed on a new $750 million credit facility with a maturity date of July 2026. JP Morgan Securities LLC and U.S. Bank NA acted as Joint Lead Arrangers with respect to the new credit facility.
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