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Wingspire Capital & TCW Private Credit Provide Unitranche Senior Credit Facility to cabi
May 3, 2022Wingspire Capital LLC and TCW Asset Management Company LLC together provided a unitranche senior credit facility to women’s apparel brand cabi LLC.
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eCapital Acquires CNH Finance
May 2, 2022
eCapital Corp. (“eCapital” or “the Company”), a leading finance provider for businesses across North America and the UK, today announced the acquisition of CNH Finance, a Connecticut-based, specialty finance company focused on the healthcare industry.
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Fourshore Partners Announces Acquisition of Celtic Capital Corporation
May 2, 2022
Fourshore Partners (Fourshore) announced today its acquisition of Celtic Capital Corporation (“Celtic” or “Company”), a financial services company specializing in asset-based lending to middle-market companies nationwide. With an appetite for the more complex transactions, Celtic Capital has a history of success in crafting creative, flexible financing solutions with no financial covenants.
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Next Frontier in Lending: High Net-Worth Lending
May 2, 2022Innovation in high net-worth lending is primed to be a new frontier in credit. Rarely do opportunities exist to make waves in lending, but this is one. Banks and wire houses are conservative and working on traditional lending models that limit borrower options for untapped equity in multiple forms of assets. There is also a wall between consumer and business lending units so most banks cannot take a holistic approach to a business owner’s business and personal assets. Several groups working together can, but this takes time, adds complexity and still has its limitations in a regulatory and traditional banking environment. Coincidentally, both commercial lenders and wealth managers are starting to converge on this space and each other’s turf by changing their offerings. -
SFNet's International Lending Conference Returns to London May 23-25, 2022
Apr 28, 2022SFNet's International Lending Conference will be held in person May 23 to 25, 2022 at DLA Piper Offices in London, UK. The Conference is geared towards those active in the international lending space, who need a clear understanding of the current global landscape, what may be on the horizon, and what it all means for your business. Some of the most interesting players on the international lending scene will gather for discussions and insights into what lies ahead.
“After two years, we are very excited to get back together in person with our favorite colleagues in the world of international lending—to catch up and to talk about new opportunities,” said David Morse, partner, Otterbourg P.C. “This is a conference where you always learn something new and pick up some interesting bit of information that helps you in thinking about your cross-border deals. The panels this year run the gamut from high-level reviews of market issues from some of the most-informed and thoughtful people in the industry to the nuts and bolts, practical issues of making secured cross-border loans work.”
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CIT Northbridge Provides $65 Million to Family Care Company Hello Bello™
Apr 28, 2022CIT Northbridge Credit, as advised by CIT Asset Management LLC, has served as sole lead arranger on a $65 million credit facility for Hello Bello, a manufacturer and marketer of baby, child and adult care products.
Launched in 2019 by co-founders Kristen Bell and Dax Shepard, Hello Bello is a parenting platform providing premium and affordable products designed to eliminate the choice many parents have to make between what’s best for their family or best for their budget. -
Great Rock Capital Provides $25MM of Liquidity to Industry Leading Compression Service Provider
Apr 27, 2022Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced it has provided $25.0 million of liquidity through a senior secured credit facility to support Natural Gas Compression Systems (“NGCS”), a Michigan-based full-service gas compression equipment and service business throughout the United States and Canada.
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Second Avenue Capital Partners Closes On A Senior Secured Credit Facility For myGemma
Apr 26, 2022Second Avenue Capital Partners, LLC (“SACP”) (www.secondavecp.com) announced it has closed on a $10,000,000 senior secured credit facility (which includes an accordion feature) for myGemma, a modern and professional alternative for consumers wanting to buy or sell high-end luxury goods. The credit facility will be used to support increased working capital and additional inventory purchases as the business continues to rapidly grow.
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Crestmark, the Commercial Finance division of MetaBank®, Welcomes Richard Flamang and Ralph Aurelia to the Commercial Lending Development Team
Apr 25, 2022Crestmark, the Commercial Finance division of MetaBank®, N.A., is pleased to announce the additions of Richard Flamang and Ralph Aurelia as experienced business development team members to the Working Capital group. They will be responsible to enhance the growth of small- to medium-sized businesses by providing asset-based lending solutions.
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Interview with Laura Kemper Glass, Chair of SFNet’s Women in Secured Finance Committee
Apr 25, 2022Laura Kemper Glass, chair of SFNet’s WISF Committee, is senior vice president and senior portfolio manager for Bank of America Business Capital (BABC). Based in Atlanta, Glass is responsible for the middle market and large corporate asset-based lending portfolio in the Eastern United States and Europe and the lower middle market portfolio nationwide. In this role, she leads a team of credit professionals responsible for managing a $20 billion portfolio of credit commitments in the asset-based lending plus related products and solutions.
Editor’s Note: SFNet’s WISF Conference will be held June 15-16 in New York City. For details click here. -
Gordon Brothers Expands Capital Base to Over $1 Billion with New CPP Investments Financing
Apr 21, 2022
Gordon Brothers, the global advisory, restructuring and investment firm, has received $300 million in financing from Canada Pension Plan Investment Board (CPP Investments) through its subsidiary CPPIB Credit Investments Inc., increasing the firm’s capital base to over $1 billion.
This financing will fuel the continued rapid growth of the firm’s capital offerings, which generated over $700 million in originations worldwide in 2021, building on billions of assets traded and financed in recent years.
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Greenbacker Secures $76 Million Credit Agreement with Fifth Third Bank and PNC Capital Markets
Apr 20, 2022Greenbacker Renewable Energy Company LLC (“GREC” or “Greenbacker”), a leading owner and operator of sustainable infrastructure and energy efficiency projects, has entered into a senior credit agreement of $76.3 million with joint lead arrangers Fifth Third Bank, National Association, and PNC Capital Markets LLC. Morgan Stanley Renewables Inc. served as tax equity investor. Fifth Third Bank also served as administrative agent.
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Chris McCarty Rejoins First Business Bank as Vice President – Asset-Based Lending
Apr 18, 2022Chris McCarty has a powerful accounting and credit analysis background, which he has leveraged over the past 15+ years to help clients solve cash flow and funding issues through the application of Asset-Based Lending, Specialty Finance, and Commercial Lending solutions. Chris previously worked with First Business Bank in 2019, and also has worked at First Horizon & Renasant Bank.
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Eclipse Business Capital Provides $125mm In Financing To An Integrated Steel Manufacturer
Apr 18, 2022Eclipse Business Capital (“EBC”) announces the completion of a revolving credit facility for a vertically integrated manufacturer of steel products. The credit facility will be used to refinance existing bank indebtedness and provide ongoing working capital financing. The new revolver from Eclipse will provide needed liquidity to allow the company to capitalize on its strong market position and technical expertise.
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U.S. Bank’s Stampfel and Rubin Continue to Build Momentum, Deliver Innovative Asset-based Financing
Apr 14, 2022U.S. Bank announced it hired Daniel Stampfel and Mitch Rubin as senior vice presidents of its asset-based finance division. The hires are part of a strategy for the broader U.S. Bank commercial banking team to continue its expansion in Texas and across the country to better serve middle-market clients.
Here we sit with Daniel, Mitch and David Slavik, SVP, national sales director – middle market, U.S. Bank Asset Based Finance, to discuss expansion in New York and Texas, goals for the rest of the year, and industry trends and predictions. -
SFNet's Asset-Based Lending, Factoring Survey Reveals Year of Growth
Apr 13, 2022
Last year was a study in contrasts as many business sectors recovered from the pandemic recession only to face a new challenge: rising inflation. The financing market was no exception.
In its annual indicator of industry activity, the Secured Finance Network (SFNet) found cause for optimism but warned members to expect continued economic pressures in 2022.
The 2021 Annual Asset-Based Lending & Factoring Survey cited a year of rapid economic growth and increased demand for financing. Portfolios were strong, with SFNet reporting a significant decline in gross write-offs relative to volume and average earning assets.
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Prana Announces New Financing Facility with Wells Fargo, Set to Drive Ongoing Growth Plans
Apr 12, 2022Prana, a leader within the organic and plant-based food industry, is pleased to announce the signing of a three-year credit agreement for a senior secured revolving loan facility and a senior secured term loan facility with Wells Fargo Capital Finance Corporation Canada that will enable the next stage of the company’s growth.
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Maryland Financial Disclosures Bill Dies in Committee
Apr 12, 2022
Leslie J. Polt, Esq., Adelberg Rudow, provided the following analysis of Maryland’s Commercial Financing Transactions Act (SB825). He can be reached at lpolt@adelberg.com.
SFNet will continue to track this along with all other state disclosure legislation and work to influence favorable outcomes for our industry.
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A Look at Continued Inflation and Its Impact on a Group of Key Industries
Apr 11, 2022In this article, Hilco experts from across the Valuation Services team discuss how the ongoing inflationary environment is impacting a broad range of industries from a cost, pricing and operational perspective.
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CIT Appoints Geoff Black to Managing Director and Group Head for Lender Finance Business
Apr 11, 2022CIT, a division of First Citizens Bank, has appointed Geoff Black to the position of managing director and group head for the Lender Finance business in its Business Capital division. Black, who was also promoted to senior vice president, will be based in Jacksonville Florida and will oversee sales, marketing and business development for all of Lender Finance.
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