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  • Citizens Leads $98.7 Million Loan to Houston-based Hanover Company
    Oct 26, 2022
    Citizens announced today that its Commercial Real Estate Finance team led a $98.7 million loan to Houston-based Hanover Company for the construction of a six-story, 309-unit multi-family project in Laguna Niguel, Calif. Citizens is Joint Lead Arranger and Administrative Agent.
  • Gordon Brothers Welcomes Nick Kitchin as Managing Director
    Oct 25, 2022

    Gordon Brothers, the global advisory, restructuring and investment firm, has welcomed Nick Kitchin as Managing Director.

    Based in London, Kitchin is responsible for capital strategy and originating, structuring and executing investment opportunities in the U.K. and Europe. With over 15 years of experience in restructuring, finance, distressed investing, and mergers and acquisitions, he works with the firm’s pan-European clients to develop customized, flexible and rapid solutions across asset classes.   

  • RedRidge Announces New Hires
    Oct 24, 2022
    RedRidge announced it has hired Andrew Rodgers as associate director. Rodgers has served private equity and corporate clients, with deal sizes valued up to $500M and has experience leading numerous M&A buy-and sell-side due diligence projects across a variety of industries.  Kelsey Mohr has joined RedRidge as associate director. Mohr provides financial due diligence and lender due diligence services at RedRidge. RedRidge also announced Chris DiPietro has joined as a senior associate, based in Connecticut.   
  • Runway Growth Capital Announces a Senior Secured Term Loan of $45 Million to Nalu Medical
    Oct 24, 2022
    Runway Growth Capital LLC ("Runway"), a leading provider of growth loans to both venture and non-venture-backed companies seeking an alternative to raising equity, today announced the close of a senior secured term loan of $45 million to Nalu Medical, Inc. ("Nalu"), a privately held medical device company focused on innovative and minimally invasive solutions for chronic neuropathic pain.

      

  • Flagship Healthcare Trust Secures New $265 Million Revolving Credit Facility From Fifth Third Bank-Led Consortium
    Oct 20, 2022

    Flagship Healthcare Trust, Inc. (Flagship REIT), a Charlotte-based outpatient healthcare real estate investment trust, has expanded its syndicated senior revolving credit facility arranged by Fifth Third Bank.

    The $265 million senior secured credit facility has a $100 million revolver and a $165 million term loan. Flagship also increased its borrowing capacity by an additional $200 million through an accordion feature.

  • Singing Machine Company Secures $15.0 Million Senior Secured Financing with Fifth Third Bank
    Oct 18, 2022
    The Singing Machine Company (“Singing Machine” or the “Company”) (NASDAQ: MICS) has entered into an agreement for senior secured financing with Fifth Third Bank, N.A. (“Fifth Third”). Under the agreement (“Fifth Third Facility”), Fifth Third will provide the Company with up to $15.0 million dollars in asset-based lending during the Company’s peak shipping season and reduce to $7.5 million from January 1 to June 30.
  • WebsterBank_AbbyParsonnet_150 Abby Parsonnet to Lead Nationwide Asset Based Lending and Commercial Services for Webster
    Oct 17, 2022
    Webster Bank is pleased to announce that Abby Parsonnet, is now Executive Managing Director, Head of Asset Based Lending (ABL) for Webster Bank. In her role, she will oversee the nationwide Asset Based Lending and Commercial Services teams at Webster, which also includes Staffing Solutions and Factoring. She reports to Chris Motl, President of Commercial Banking.
  • Brazil's Embraer Closes $650 Million Revolving Credit Facility with Global Lenders
    Oct 17, 2022

    Brazilian planemaker Embraer SA said on Monday it has closed a $650 million revolving credit facility with a group of national and international financial institutions as it looks to reinforce its liquidity for the coming years.

    The credit facility was led by PNC Bank, Credit Agricole, Natixis, MUFG and Santander, Embraer said in a statement, adding that it will allow it to regain access to financial resources for three years at pre-negotiated rates, which can be renewed for another two years at the lenders' discretion.

  • Holland & Knight Welcomes Leading Finance Attorney Wade Kennedy in Chicago
    Oct 13, 2022
    Wade Kennedy, a highly-regarded lawyer who focuses on asset-based lending and syndicated financings, has joined Holland & Knight as a partner in the firm's Chicago office. He will be co-chair of the firm's Asset-Based Lending Team along with Christopher Dillon in Atlanta. Mr. Kennedy was previously the head of the asset-based lending group at McGuireWoods LLP.
  • BMO’s Asset-Based Lending Group Served as Sole Lender on a Cross-Border Senior Secured ABL Revolver Facility to Support MiddleGround Capital’s Acquisition of HLC, Inc.
    Oct 12, 2022
    BMO, a leading provider of asset-based finance solutions, closed as Sole Lender on a senior secured credit facility in support of MiddleGround Capital’s acquisition of HLC, Inc.  The ABL facility refinanced the Companies’ existing credit facilities, partially financed the acquisition, and will provide working capital financing to the company.  With operations in both Canada and the United States, BMO’s cross-border Asset Based Lending team provided a seamless “One Bank” financing solution to the company.
  • Karim Habib Joins Accord Financial as Managing Director, Business Development
    Oct 11, 2022
    Accord Financial Corp., one of the U.S. and Canada’s leading independent commercial finance companies ("Accord") (TSX: ACD) has expanded their Canadian Asset Based Finance/Factoring senior management team to include Karim Habib as Managing Director, Business Development Ontario and Western Canada. His responsibilities will include expanding Accord’s brand presence as well as developing long-term business growth strategies. 
  • Asset-Based Lending: A Primer
    Oct 11, 2022
    Simply put, asset-based lending (ABL) is a way of lending money to companies. Such loans are made by commercial banks and by specialty finance companies, and loan sizes can range from several hundred thousand to many hundreds of millions of dollars. These loan proceeds are used to assist companies in high-growth, distressed, or sometimes even in start-up situations.
  • Great Rock Capital Adds Senior Originator in Texas Market
    Oct 10, 2022
    Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced Bradley Crawford has joined the firm as Managing Director of Originations. Bradley will be based in Texas and is responsible for expanding the firm’s origination efforts throughout Texas, plus the surrounding states of Arkansas, Louisiana, Mississippi, and Oklahoma.
  • Tammen-Jan Field Exam in Changing Times: Fundamentals and Best Practices
    Oct 7, 2022

    Jan Tammen of PNC Business Credit discusses some of the lasting changes to the field exam industry brought on by the pandemic.

  • eCapital Expands Transportation Division with 4 Senior Hires
    Oct 6, 2022
    eCapital Corp. (“eCapital” or “the Company”), a leading finance provider across North America and the U.K., today announced the appointments of four Business Developments Officers (BDOs) to further expand the company’s Transportation Division in the U.S. and Canada.
  • Michele Ocejo Field Examinations in 2022 and Beyond
    Oct 5, 2022
    TSL’s editor-in-chief interviewed several field exam professionals as well as lenders to get an overview of what lenders should look for, the current challenges and the effects of the pandemic.
  • Winston & Strawn Corporate Partners Elevated to Leadership Positions
    Oct 5, 2022
    Winston & Strawn is pleased to announce that five partners have been elevated to leadership positions. Four partners have been promoted to serve as co-chairs of the Leveraged Finance and Asset-Based Lending practices, and one partner as chair of the Sponsor Finance practice. 
  • CIT Northbridge Credit Serves as Agent on $40 Million Financing to Biery Cheese
    Oct 4, 2022
    CIT, a division of First Citizens Bank, today announced that CIT Northbridge Credit, as advised by CIT Asset Management LLC, served as agent on a $40 million revolving credit facility provided to Biery Cheese. The credit facility refinances Biery Cheese's existing senior debt and provides additional liquidity to support increased production. Croley, Martell & Associates, Ltd. served as advisor on the refinancing and referred the transaction to CIT Northbridge Credit.
  • SFNet Announces Governance Boards Leadership
    Oct 3, 2022
    The SFNet Executive Committee and Member Directors of the Secured Finance Network have approved its FY23 SFNet Executive and Management Committee members.  In addition, the Secured Finance Foundation Board and its Member Donors have approved the FY23 SF Foundation Board and Officers.  These roles are essential to SFNet’s and SFFound’s governance process and to shaping the future of the organizations. SFNet encourages volunteers to join the committees listed below as the chairs develop their agendas in line with SFNet’s and SFFound’s mission and goals.
  • SFNet, SBA Agree to Revised EIDL Subordination Terms for Lenders Effective Immediately
    Oct 3, 2022
    We are pleased to announce that SFNet, with the assistance of various of its members, has successfully negotiated a consensual form of subordination agreement with the Small Business Administration (“SBA”) allowing asset-based lenders priority over certain of the same collateral granted to the SBA  under an SBA facility whether the ABL facility is put in place prior to or after the SBA facility goes into effect.

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