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Bed, Bath, and Back to the Supplier: A Supplier’s Right to Reclaim Ownership of Inventory in the Netherlands
Sep 12, 2022In November of 2021, SFNet announced its first Cross-Border Finance Essay Contest, sponsored by Goldberg Kohn Ltd. Members of SFNet’s International Finance and Development Committee judged the essay submissions on content, originality, clarity, structure and overall contribution to furthering and expanding understanding and discourse within the field of cross-border finance. This essay tied for third place. -
Pathway Homes Secures $225M Credit Facility
Sep 8, 2022Pathway Homes ("Pathway"), a real estate platform with a mission to create more homeowners, announced today that it has entered into a secured credit facility in the aggregate amount of $225 million, with Bank of America, acting as Administrative Agent and Sole Lead Arranger. This is Pathway's inaugural credit facility and includes an accordion feature that permits an increase in total commitments up to $475 million under certain conditions.
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CIT Provides $100 Million in Financing for Stonegate Capital
Sep 7, 2022CIT, a division of First Citizens Bank, today announced that the Specialty Finance unit of its Asset-Based Lending business provided $100 million in financing to Stonegate Capital, a middle-market asset-based lender primarily focused on the consumer vertical and opportunistic credits. Stonegate Capital, headquartered in Chicago, is a wholly owned division of SG Credit Partners.
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Pitney Bowes Financial Services Demonstrates Renewed Commitment to Main Street
Sep 6, 2022Pitney Bowes Inc. (NYSE: PBI), a global shipping and mailing company that provides technology, logistics, and financial services, today reaffirmed its commitment to small business lending with the announcement of up to $10 million worth of financing to two small business clients. New York City-based Ash NYC and Farmington, Michigan-located Digital Terrain selected Pitney Bowes Financial Services to augment their primary source of capital and deliver affordable revolving lines of credit and term loans.
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First Citizens Bank Launches Middle Market Banking Across Southeastern U.S.
Sep 6, 2022
First Citizens Bank today announced the official launch of its Middle Market Banking unit to support the financial needs and goals of midsize businesses across the Southeastern U.S.
Headquartered in Charlotte, First Citizens Middle Market Banking is now serving clients across North Carolina and neighboring Southeastern states, including Virginia, South Carolina, Georgia and Florida, with a full-suite of banking services.
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Deal Originator, Lender, and Commercial Finance Executive Ward Mooney Joins Hilco Global as Executive Vice President - Senior Advisor
Sep 1, 2022
Hilco Global announced today that Ward Mooney, a highly regarded deal originator, lender, and thought leader in the financial services sector, will join the Hilco Global executive leadership team on September 5, 2022. In this new role as Executive Vice President and Senior Advisor, Mr. Mooney will work closely with the Hilco Global senior management team at the holding company while collaborating with the firms operating companies as they continue to grow and expand its diversified suite of financial services solutions.
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White Oak Deploys over $1 Billion in Lending Activity In First Half of 2022
Aug 30, 2022
White Oak Global Advisors, LLC, (“WOGA” or “the firm”), a global alternative asset manager providing flexible and secure funding to help businesses grow, today announced that the firm, together with its financing affiliates (collectively “White Oak”), provided over $1 billion in loans across all platforms between January 1 and June 30, 2022. The total dollar amount accounts for the combined value of 45 separate transactions to middle and small middle market businesses across a wide array of industries, representing a highly diversified deal flow.
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Monroe Capital Supports Spectrum Science’s Add-on Acquisitions
Aug 25, 2022
Monroe Capital LLC announced it acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support three add-on acquisitions (Sonic Health, The Seismic Collaborative, and Aurora Healthcare Communications) and provide growth capital for Spectrum Science.
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Huntington Business Credit Closes $53.5 Million in New Credit Facilities with Mol-Son
Aug 23, 2022Mol-Son, LLC and combined companies, headquartered in Mattawan, Michigan, design, manufacture and distribute plastic injection molded components and printed circuit boards, primarily for the automotive industry.
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Too Little. Too Late. Too Much. Inventory Management Amid Ongoing Supply Chain Disruption
Aug 22, 2022
As recent years have demonstrated, a variety of events, from a once-in-a-lifetime worldwide health crisis like a pandemic to a regional conflict like the Russian invasion of Ukraine to long-planned political changes such as Brexit, can easily interrupt global supply chains. These recent events resulted in three phases of supply chain disruptions.
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Rosenthal Completes 11 Transactions Totaling $35 Million During Summer 2022, Supporting Clients From Multiple Industries
Aug 22, 2022Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending, purchase order financing, d2c and e-commerce inventory financing firm in the United States, today announced the completion of nearly a dozen transactions totaling roughly $35 million during the summer months of 2022. The various financing facilities will help to address working capital needs, mitigate risk and support growth opportunities for clients across a multitude of sectors.
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Fifth Third Business Capital Provides a New $15 Million Senior Credit Facility to Support the Refinancing of Puraglobe Syntainics, LLC
Aug 18, 2022
Fifth Third Business Capital announced it has provided a new $15 million senior credit facility, consisting of a capital expenditure facility and revolving line of credit to support the refinancing of Puraglobe Syntainics, LLC. Puraglobe Syntainics, LLC blends, packages, and distributes sustainable, full synthetic motor oils for passenger cars and motorcycles.
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LSQ Creates $18MM Facility, AR Management Program for Home Lighting Fixtures Distributor
Aug 17, 2022
LSQ, a leading provider of working capital finance andpayments solutions, recently originated an $18 million credit facility for a distributor of lighting and ceiling fans serving big-box retailers nationwide. The facility includes both accounts receivable and inventory financing.
The company will use the additional capital to fund growth, innovation, new designs and improve existing products and services.
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Ready, set, mentor!
Aug 16, 2022The Secured Finance Foundation, in conjunction with SFNet’s Diversity, Equity and Inclusion Committee, developed and launched a Mentoring Program that provides the next generation access to the knowledge and expertise of the most talented and respected executives in the secured finance industry. The mentoring initiative was created to serve the secured finance community by bridging the gap between established veterans and those new to their careers. By focusing on inclusivity, SFNet hopes to offer a missing component in its members’ professional trajectories. -
Gordon Brothers Supports Plainville Farms’ Operations & Continued Growth with $12M Term Loan
Aug 16, 2022
Gordon Brothers, the global advisory, restructuring and investment firm, has provided Plainville Farms a $12 million term loan to support the organic and antibiotic-free turkey processor and distributor’s operations.
Plainville Farms will use the committed facility for working capital purposes and to support increased demand from customers.
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Siena Healthcare Finance Provides a $20 Million Credit Facility to a Group Of Skilled Nursing Facilities
Aug 15, 2022Siena Healthcare Finance today announced the closing of a $20MM working capital facility for an Ohio based chain of skilled nursing facilities. Siena refinanced the line of credit from a large commercial bank.
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Fifth Third Business Capital Supports Precision Marshall with $43 Million Upsized Credit Facility for Acquisition of Kinetic Co., Inc.
Aug 15, 2022
Fifth Third Business Capital announced it has provided a $43 million capital expenditure facility, revolving credit facility and term loan for Kinetic in Greendale, WI. Kinetic was founded in 1948 and is recognized as one of the world's premiere manufacturers of industrial knives for the tissue, metals, plastic, wood and recycling industries and was recently acquired by Precision Marshall.
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How are inventory levels impacting cash flow and performance?
Aug 15, 2022Since the COVID-19 shutdowns, discussions about supply chain and inventory levels have focused on the need to build inventories to offset supply chain risk. Companies have replaced just in time inventory approaches with higher inventory levels to offset the supply chain problems. In addition to building inventory quantity levels, the per unit value of the inventory has been increasing as evidenced by inflation at 40-year highs. The June CPI was 9.1% and the June PPI was 11.3%. -
Atlantic Union Bank Continues to Expand Its Commercial Product Line with Asset-Based Lending
Aug 11, 2022Atlantic Union Bank is expanding its asset-based lending team to help working capital intensive companies meet their financing needs. The team will now operate as a new specialty finance division, branded Atlantic Union Business Credit, and offer a full range of asset-based lending solutions specializing in loan commitments from $5 million to $30 million.
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Crown Partners Arranges $50 Million Senior Debt Facility for Inseego Corp.
Aug 10, 2022
Crown Partners LP announced that Inseego Corp. (“Inseego”), has closed on a $50 million senior debt facility with Siena Lending Group LLC. Crown Partners served as exclusive financial advisor to Inseego in connection with this transaction.
Headquartered in San Diego, CA Inseego (Nasdaq: INSG) is an industry leader in intelligent device-to-cloud solutions that extend the 5G network edge, enabling broader 5G coverage, multi-gigabit data speeds, low latency, and strong security to deliver highly reliable internet access.
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