Articles

Sharon Haggard has joined Gordon Brothers, the global advisory, restructuring and investment firm, as Senior Director focused on deals and origination to strengthen real estate and retail capabilities in North America and drive multi-disciplined growth.

Haggard is focused on originating, structuring and executing deals across the intersection of retail and real estate and leveraging existing relationships to deliver rapid, customized and integrated solutions for clients and partners.

BNP Paribas, Europe’s leading financial institution, announces today the appointment of several senior executives to its Global Markets Americas division. The appointments demonstrate the bank’s commitment to the Americas region and ambition to grow its Global Equities, Global Credit and Global Macro franchises.

Kunal Maini is appointed Co-Head of Global Macro - Americas. He will support the bank’s effort to strengthen its client-centric Global Macro business featuring a state-of-the-art digital offering and expertise across Rates, FX and Commodities. In addition, he will be responsible for globalizing our US Rates franchise by developing stronger client connectivity and product innovation.

SFNet has announced it is partnering with NYU Stern Executive Education to offer a course for SFNet members’ emerging leaders that will teach attendees how to recognize, develop, and master skills to become an effective and impactful leader.

The course, Impactful Leadership for High Potentials, will be held June 12-14, 2023 and introduce analytical leadership frameworks by combining a variety of learning approaches to ensure that participants learn self-reflective and supportive mechanisms for continued success on their path as a leader. In addition to the core curriculum, which comes with a certificate of completion from NYU Stern Executive Education, SFNet will introduce several guest lectures from successful leaders in the secured finance industry to speak on topics such as leading in complex systems, leading through change, the role of leadership in company culture, leading with diversity and more.

Curve, the fast-growing financial super app, today announced that the company has closed a deal to fund its first $1 billion in loans with a facility provided by Credit Suisse, enabling Curve to scale its lending business, Curve Flex, across the UK, the EU and the United States.

The Curve Flex product allows customers to split any transaction they've made with Curve – at any merchant, using any card, anywhere in the world – into monthly installments.

 CIT, a division of First Citizens Bank, today announced that its Asset-Based Lending business has provided a $35 million revolving credit facility to Utopia Deals.

Based in Plainview, N.Y., Utopia Deals is a leading seller of linens, towels, bedding and other products to consumers and to business customers in the hospitality, healthcare, restaurant, fitness and spa sectors, among others. The company also has a strong presence on leading online retail platforms. 

The global trade credit market continues to grow with increased international business opportunities and carriers making trade credit more accessible to the market. You may be asking – what is trade credit insurance? Trade credit insurance (TCI) insures your accounts receivables against losses due to bankruptcy, unforeseen insolvency, or protracted default. But, trade credit insurance is more than just insurance. Once your A/R is insured, it is a secured asset, and can be used to leverage many ROIs.

Why do companies acquire a trade credit insurance policy? Trade credit can help build a healthy pipeline of new revenue, increase access to capital, prevent a catastrophic loss, and strengthen an organization’s balance sheet. Here are the top four motivating factors for trade credit Insurance.

Specialty finance provider Mitsubishi HC Capital America announced today that it has entered into a $20 million facility to provide supply chain financing for an IT value-added reseller (VAR) serving the life sciences sector. With the VAR’s end customer requiring a sales cycle that could extend as long as two years, the VAR needed a stable source of working capital to ensure that the highly specialized technology can be identified, purchased and delivered via a customer roll out schedule.

Gordon Brothers, the global advisory, restructuring and investment firm, has provided Everlane Inc. a $25 million term loan that’s secured by the sustainable apparel, accessories and footwear retailer’s digitally native brand and working capital assets. Everlane will use the loan to support over a decade of continued growth.

Many ABL professionals have little to no workout or bankruptcy experience thanks to the past ten years of relative calm. This article details the anatomy of an ABL workout and serves as a primer for many readers and a refresher course for more experienced lenders.

Robert Brownell has joined SLR Business Credit (SLRBC) as vice president of business development.

Robert has 14 years of lending and business development experience. He began his career in the factoring sales division of a regional South Florida based bank and has been working in the commercial finance industry ever since.

Axiom Bank, N.A., a Maitland-based bank, has expanded its team with the hiring of Todd A. Davock as Senior Vice President, Business Development Officer in its asset-based lending division headquartered in Dallas.

Davock brings nearly 25 years of experience in asset-based lending and commercial finance. In this new role with Axiom Bank’s Commercial Finance division, he will oversee development of the business in the New England area.

O2 Sponsor Finance, a division of Old Second National Bank, today announced that it provided $13,350,000 in senior secured credit facilities to support West Edge Partners acquisition of Dakotaland Autoglass (“DAG” or the “Company”).

DAG is a leading distributor and service provider of aftermarket automotive replacement glass, paint & body equipment. The Company has been a leading supplier to autobody shops and glass installation businesses in the Midwest for over 40 years. DAG operates 12 locations across North Dakota, South Dakota, Minnesota and Iowa, with its main distribution center and headquarters in Sioux Falls, SD.

The way an organization handles change is critical to its success, particularly during periods of uncertainty. In the year 500 B.C., the Greek philosopher Heraclitus observed that life was in flux, with everything constantly on the verge of becoming something else. He noted that resisting this natural flow was a hindrance to progress and growth in all aspects of life.

Resistance, however, has proven to be a very normal human response to change over the centuries and in organizations today, often manifests itself in the form of the formidable Change-Prevention Committee. 

 Bell Bank announces the launch of Bell Business Credit, a national specialty lending team providing asset-based lending and factoring services ideally suited for working capital intensive companies that generate $2 million to $120 million in annual revenue. 

Led by industry veterans Kei Lehigh, who serves as president, and Matt Howe, director of credit and operations, Bell Business Credit further expands Bell Bank’s commercial finance and specialty lending areas. Lehigh and Howe bring to Bell more than 50 years of combined commercial lending experience in this niche.