Articles
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Everything You Wanted To Know About Cannabis…But Were Afraid To Ask
Sep 10, 2019
Money-laundering statutes, restrictive banking regulations and the stigma surrounding the cannabis industry have caused established banks and well-known independent secured lenders to stay clear, but the possibility of new regulations may ease their fears.
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Wells Fargo Capital Finance Continues to Expand Loan Originations Group
Sep 5, 2019Wells Fargo Capital Finance, part of Wells Fargo Commercial Capital, announced three new business development officers (BDOs) have joined its Corporate Finance and Middle Market Loan Originations Groups, covering the nation’s Midwest, Northeast, and Southeast regions.
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Sterling National Bank Provides $14,500,000 Credit Facility to Living Well Lodges Management Company, LLC
Sep 3, 2019
Sterling National Bank's Asset Based Lending Group provided senior secured credit facilities totaling $14,500,000 to Living Well Lodges Management Company, LLC. (“Living Well” or the “Company”).
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SFNet Inaugural Hall of Fame Inductees Announced
Sep 3, 2019In conjunction with our 75th Anniversary, we are thrilled to announce the inductees into the inaugural CFA/Secured Finance Network (SFNet) Hall of Fame.
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Foley Business Capital has been acquired by Vero Business Capital, LLC
Aug 29, 2019We are pleased to announce that Hovde’s client, Omaha, NE-based Foley Business Capital (“FBC”), a subsidiary of Foley Holdings (“Foley”), has announced its sale to Memphis, TN-based Vero Business Capital, LLC (“Vero”), a portfolio company of SouthWorth Capital Management (“SouthWorth”).
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White Oak Commercial Finance Originates a Revolving Credit Facility to The Good Kitchen
Aug 28, 2019White Oak Commercial Finance (“White Oak”), an affiliate of White Oak Global Advisors, announced today the origination of a new revolving credit facility to healthy meal service company The Good Kitchen. Originally founded as a meal delivery service, The Good Kitchen will use the proceeds of the credit facility to expand its business into packaged meals sold at 1,500 stores across the United States.
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Three Ways to Improve Your Risk Performance Through Data Technology
Aug 19, 2019
By embracing technology, you can collect, analyze and respond quickly to easily accessible data that helps you accomplish three things simultaneously: mitigate risk, improve efficiency, and develop your organization’s talent.
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Siena Lending Group LLC Announces the Closing of a $14.6 Million Credit Facility for Innovative Hearth Products
Aug 14, 2019
Siena Lending Group LLC (“Siena”) announces the completion of a $14.6 million asset-based revolving line of credit and term loan for Innovative Hearth Products (“IHP”). The facility was used to refinance certain debt and to provide additional working capital to support IHP’s long-term growth initiatives.
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Interview with Bruce Sprenger: Former SFNet Chairman Retires from Fifth Third after 40 Years in the Industry
Aug 13, 2019Bruce Sprenger retired from his position as SVP Group Head for Fifth Third Business Capital at the end of June, after 40 years in the industry. Here, he looks back on his career.
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Colleen Taylor to Lead Wells Fargo Merchant Services
Aug 12, 2019
Wells Fargo & Company (NYSE: WFC) today announced that Colleen Taylor will join Wells Fargo as head of Wells Fargo Merchant Services, responsible for the strategic direction and management of the merchant services business and a joint venture with Fiserv. She will report to Danny Peltz, head of Treasury, Merchant and Payment Solutions.
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Troubled Farms Navigate Options
Aug 12, 2019Today, the U.S. farm sector is in crisis and, by many accounts, the full scale and scope of that crisis is something this nation has not seen since the Farm Crisis of the 1980s, when a confluence of micro and macroeconomic factors led to the failure of thousands of farms. Today, the challenges are both varied and formidable.
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Wells Fargo Leads $825 Million in Financing for the Acquisition of Barnes & Noble
Aug 8, 2019
Wells Fargo Capital Finance, part of Wells Fargo & Company (NYSE:WFC), announced today that it acted as administrative agent, lead arranger and book runner for an $825 million asset-based credit facility in connection with the acquisition of Barnes & Noble, Inc. (NYSE:BKS) by Elliott Advisors (UK) Limited.
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MidCap Financial Provides a $60 Million Senior Secured Credit Facility to Celadon Group, Inc.
Aug 6, 2019MidCap Financial today announced it has provided a $60 million senior revolving credit facility to Celadon Group, Inc. ("Celadon"), a North American transportation company that provides full-truckload freight services across the United States, Canada, and Mexico.
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White Oak Healthcare Finance Provides $81 Million Credit Facility to GMF Capital
Aug 6, 2019
The funds were used to refinance a portfolio of 14 skilled nursing facilities concentrated in Ohio and Kentucky. As part of the transaction, White Oak also provided a $15.0 million line of credit to the operating company.
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Citizens Commercial Banking leads new financing for Octo’s acquisition of Connexta
Aug 5, 2019Citizens Commercial Banking led new financing for Octo, a Reston, Va.-based provider of next-generation solutions for the federal market, that was used to acquire Connexta, a Phoenix, Ariz.-based leader in open source software development and secure discovery solutions for government and commercial customers.
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AloStar Capital Finance Provides $30 Million Credit Facility to BlackRiver Business Capital
Aug 1, 2019
AloStar Capital Finance successfully agented and closed a $30 million credit facility to BlackRiver Business Capital (doing business as ACG Equipment Finance), an equipment finance company focused on the small-to-mid-ticket market from $10,000-$250,000.
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Guarded Optimism Prevails as Executives Chart the Future
Aug 1, 2019
Strengthening Bank Relationships Is Crucial to Seize Business Opportunities in the Potential Economic Downturn
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Interview with BMO’s Michael Ganann and Mike Scolaro
Aug 1, 2019
In May, BMO Harris Bank announced that it had hired Michael Ganann as Managing Director, Retail Originations, Asset-Based Lending. In this role, he will lead the coverage efforts in calling nationwide on BMO clients and prospects in the retail industry.
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Business Capital Delivers Over $300 Million Funding for Solar Fintech Company
Aug 1, 2019Business Capital (BizCap) acted as a strategic advisor to a leading FinTech company focused on providing residential solar loans to homeowners nationally.
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People’s United Bank Leads Expansion of Credit Facility to $50 Million for MVC Capital, Inc.
Jul 30, 2019
People’s United’s Asset-Based Lending (ABL) and Capital Markets teams partnered on the facility that will provide MVC with working capital for future acquisitions and investments.
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