Articles
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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. -
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, 2019Strengthening 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. -
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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PNC Bank Provides Financing to Water & Wastewater Infrastructure Products Manufacturer
Jul 30, 2019
PNC Bank, National Association, announced today the closing of a $30 million senior secured credit facility for Sugar Land, TX-based Sigma Piping Products 2019, LLC (SPP).
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Thoughts on the First Quarter 2019 Asset-Based Lending Index
Jul 30, 2019
If we were to represent Q1 2019 as one of those office motivational posters, “Little by little, a little becomes a lot” would be appropriate.
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Sierra, MCC and MDLY Amend Merger Agreements Which Would Create Leading Internally Managed BDC
Jul 29, 2019MCC will merge with and into Sierra and Sierra will simultaneously acquire MDLY and its existing asset management business, which will operate as a wholly owned subsidiary of the Company.
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Fifth Third Business Capital Provides $10 Million for Kratos Building Products, Inc.
Jul 25, 2019Fifth Third Business Capital, a division of Fifth Third Bank, announced it acted as sole lender and administrative agent on the funding of a $10,000,000 senior credit facility to Farmers Branch, Texas-based Kratos Building Products, Inc. (“Kratos”).
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Santander US Appoints Timothy Wennes as President and CEO of Santander Bank, N.A., and Juan Carlos Alvarez as Santander US and SBNA CFO
Jul 24, 2019
Timothy Wennes will become President and Chief Executive Officer of Santander Bank, N.A. ("SBNA"), effective Sept. 16, 2019. He joins SBNA from MUFG Union Bank in California. Wennes succeeds Duke Dayal, who was named Chief Financial Officer of Santander UK on July 10, 2019, effective Sept. 16, 2019. Dayal currently serves as CEO of SBNA and CFO of Santander US.
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Interview with David Koshenina, Head of WFCC’s Lender Finance Group
Jul 22, 2019Wells Fargo Commercial Capital (WFCC) recently announced that David Koshenina is head of its Lender Finance Group. In his new role, he will lead a team that provides asset-based lending for specialty finance companies, including other asset-based lenders, factors, equipment leasing, and other nonbank lenders.
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Hercules Capital Appoints Scott Bluestein as Chief Executive Officer and President
Jul 19, 2019Mr. Bluestein, who has held several leadership roles in his nine years with the Company, has served as Hercules’ interim CEO since March 2019 and as Chief Investment Officer since 2014.
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