Home > Article List

Articles

Intro content. Orci varius natoque penatibus et magnis dis parturient montes, nascetur ridiculus mus. Curabitur iaculis sapien sagittis, accumsan magna ut, blandit massa. Quisque vehicula leo lorem, a tincidunt eros tempor nec. In quis lacus vitae risus egestas tincidunt. Phasellus nulla risus, sodales in purus non, euismod ultricies elit. Vestibulum mattis dolor non sem euismod interdum.

  • Newtek Business Services Corp. Signs Agreement to Acquire National Bank of New York City
    Newtek Business Services Corp., (Nasdaq: NEWT), an internally managed business development company (“BDC”), today announced that it entered into an agreement to acquire National Bank of New York City (“NBNYC” or the “Bank”), a nationally chartered bank with approximately $204 million in total assets and $36.5 million in tier 1 capital (each as of June 30, 2021; does not reflect the impact of pre-closing dividends to selling NBNYC shareholders) for $20 million in cash (the “Acquisition”). 
  • Rob Meyers photo Get to (Really) Know Rob Meyers

    The following interview is a transcript from SFNet YoPro Committee member Avi Levine interviewing Rob Meyers, president, CCO & managing member of Republic Business Credit, in April 2020. Rob previously served as chair of SFNet's National Young Professionals Committee and spearheaded the YoPro Annual Leadership Summit, now in its third year. We hope you enjoy getting to know the industry’s young professionals.


  • A New Multinational Financing Frontier? Recent US Tax Guidance Opens New Avenues of Foreign Credit Support for Certain US Borrowings at an Uncertain Cost
    As lenders, borrowers and their advisors are well aware, the enactment of what is informally referred to as the Tax Cuts and Jobs Act (the “TCJA”) introduced fundamental changes to U.S. tax law that immediately impacted the structuring, terms and implications of financing arrangements. Although the TCJA’s initial effects were significant, the prospect of future material changes also existed in the form of implementing guidance. True to that promise, recently finalized regulations (the “Regulations”) promulgated under Section 956 may have the most dramatic effect yet on financing arrangements involving multinational companies.
     
  • Tenable Announces Closing of New Senior Secured Credit Facility
    Tenable®, Inc. (“Tenable”), the Cyber Exposure company, today announced it has entered into a new credit agreement, which is comprised of a $375.0 million senior secured term loan facility (the “Term Loan”) and $50.0 million senior secured revolving credit facility (the “Revolving Facility” and, together with the Term Loan, the “Credit Facility”).

    JPMorgan Chase Bank, N.A., Morgan Stanley Senior Funding, Inc., Bank of America, N.A., and Barclays Bank PLC acted as joint lead arrangers and joint bookrunners for the Credit Facility.
  • JenniferCann_Headshot_150 Jennifer Cann Joins Bank of America Business Capital as SVP

    Bank of America Business Capital announced that Jennifer Cann has joined as senior vice president and head of the Retail Finance Group Portfolio. Based in Boston, Jenn manages the ABL Retail Portfolio team responsible for credit, monitoring and strategic development. 

     
  • Great Rock Capital Expands Management Team, Adds Chief Risk Officer

    Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced Kathleen Auda has joined the firm as Chief Risk Officer. Auda will be responsible for overseeing both the underwriting and portfolio management teams and will report to Stuart Armstrong, CEO and CIO.

     

     

  • Amerisource Closes $17,000,000 Credit Facility for Industrial Sand and Construction Aggregate Firm
    Amerisource Business Capital announced the closing and funding of a $17,000,000 senior credit facility for an Iowa-based sand and construction aggregate firm.  The proceeds were used to continue the expansion of their business lines and support their ongoing working capital needs.
  • Governor Cuomo Approves New York State Disclosure Law…Compliance Requirements to be Established in Rulemaking
    In a Memorandum filed with Senate Bill SB-5470-B, New York State Governor, Andrew Cuomo acknowledged SFNet’s and other’s opposition to the measure noting that “there is no strong consensus as to the best approach in how to compare various products” and stating, “I have secured an agreement with the legislature to make certain technical changes to this bill to better provide clarity…”. The new statute requires non-regulated commercial lenders, including asset-based lenders and factors, that propose to lend $2 million (pending approval by the legislature the threshold is likely to be at least $2 million) or less to New York-based borrowers to make certain uniform disclosures in their proposals including an “estimated” Annual Percentage Rate.
  • Dan Karas Appointed Executive Vice President at Allied Affiliated Funding

    Axiom Bank, N.A., a Maitland-based, leading community bank, recently appointed Dan Karas as EVP of Allied Affiliated Funding, the Bank’s factoring and asset-based lending division.  In this role, Karas will be responsible for guiding the division and driving its initiatives toward continuing growth.

    Karas’ commercial lending expertise spans nearly four decades with national and regional banks. In his most recent role at a Dallas-based community bank, Karas helped create its commercial finance businesses and expand its commercial lending platforms and grew profitability.

  • Trinity Capital Inc. Enters into New $300 Million Credit Facility with KeyBank
    Trinity Capital Inc. (Nasdaq: TRIN) ("Trinity"), a leading specialty lending company that provides debt, including loans and equipment financing, to growth stage companies backed by technology banks, venture capital and private equity firms, today announced that it has entered into a new $300 million credit facility led by KeyBank N.A. ("Key Bank"). KeyBank is leading the credit facility with a commitment of $75 million, and the facility can accordion to $300 million as additional lenders are added to the lending syndicate, subject to the facility's credit agreement.
  • Gibraltar Provides $20MM to Sponsor-Backed Seasonal Business

    Gibraltar prides itself on its ability to provide companies and their private equity sponsors with flexible financing and maximum liquidity, based on our ability to understand each business’ special situation. This enabled us recently to provide Texas-based Easy Gardener Products, Inc, a $20 million credit facility to help with a restructuring.

    Easy Gardener designs, manufactures, and sells a broad range of consumer lawn and garden products. It sells its products under several well-known patented and trademark brands such as WeedBlock, Jobe's, Emerald Edge, Landmaster, Ross, and Jobe’s Organics. Its customer base includes longstanding relationships over a 20- to 30-year period with a robust network of large national home improvement and mass merchant retailers as well as local hardware stores and independent garden centers and nurseries.

  • Second Avenue Capital Partners Provides $12.5 Million Revolver and Term Loan to Carlisle Etcetera, LLC

    Second Avenue Capital Partners, LLC (“SACP”) (www.secondavecp.com), announced today it has provided a $12,500,000 senior secured credit facility to Carlisle Etcetera, LLC (the “Company”), a direct-to-consumer women’s luxury apparel brand. 

  • Greystone and MONTICELLOAM to Form Joint Venture for Comprehensive Healthcare Capital Solutions
    Greystone, a leading national commercial real estate finance firm, and MONTICELLOAM, LLC (“MONTICELLOAM”), that with its affiliates, provides specialized private real estate and asset-based lending, servicing management services and consulting, today announced their intention to combine their senior housing and healthcare lines of business under a new joint venture. The joint venture is anticipated to become a leading one-stop-shop provider of capital finance products and services for the senior housing and healthcare industry.
  • SFNet Member Spotlight: Paladin Management Group, LLC
    Paladin is a middle‐market advisory firm driving value creation through consulting services. We guide middle‐market companies and their stakeholders through challenging financial, operational, and strategic transitions.
  • MidCap Financial Announces Acquisition of PNC Bank's Franchise Finance Business

    MIDCAP FINANCIAL today announced that it has successfully closed the acquisition of substantially all of PNC Bank's Franchise Finance loan portfolio. In conjunction with the acquisition, six members of the Franchise Finance business have joined MidCap Financial including Bernard Lajeunesse, former Senior Vice President and General Manager of PNC Franchise Finance, who will be leading the new initiative.

  • SFNet Announces Plans for New Executive Level Committees

    At a meeting of its Executive Committee in June, SFNet put forward a plan to establish two new standing committees. The first would seek to understand and address issues of diversity, equality and inclusion as they affect the SFNet Community. The second would focus on the proliferation of international secured finance. The formation of the new committees, which would hold seats on SFNet’s Executive Committee, will be presented for approval to SFNet Member Directors along with the overall recommended slate of 2021 Fiscal Year Executive and Management Committee candidates later this month.

  • Wells Fargo Strategic Capital Expands Healthcare Group with 20-Year Industry Veteran, Emergency Physician

    Wells Fargo Strategic Capital, a division of Wells Fargo & Company (NYSE: WFC), announced Dr. Rodney Altman as the newest managing director in its Healthcare Group, effective immediately. Altman, also a part-time physician at Stanford University Medical Center, is based in San Francisco and will work alongside the other members of the Healthcare Group, including John Ryan, Christine Guo, and Robert Rein.

  • Banc of California, Inc. to Acquire Pacific Mercantile Bancorp, Creating a $9.5 Billion Business Banking Franchise in Southern California
    Banc of California, Inc. (NYSE: BANC) (the “Company”, “Banc of California”, “we”, “us” or “our”), the holding company of Banc of California, N.A., and Pacific Mercantile Bancorp (NASDAQ: PMBC) (“Pacific Mercantile”), the holding company of Pacific Mercantile Bank, today announced they have entered into a definitive agreement and plan of merger under which Pacific Mercantile will merge into Banc of California in an all-stock transaction valued at approximately $235 million, or $9.77 per share, based on the closing price for Banc of California’s common stock of $19.54 as of March 22, 2021. 


    Piper Sandler & Co. acted as financial advisor to Banc of California in the transaction and delivered a fairness opinion to the Board of Directors of Banc of California. Sullivan & Cromwell LLP served as legal counsel to Banc of California. Keefe, Bruyette & Woods, Inc., a Stifel Company, acted as financial advisor to Pacific Mercantile and delivered a fairness opinion to the Board of Directors of Pacific Mercantile. Sheppard, Mullin, Richter & Hampton LLP served as legal counsel to Pacific Mercantile.

  • Jennifer Lickteig Innovation is Key to Survival for Factors
    The CEO of TBS Factoring discusses the importance of innovation in factoring and how she applies the lessons of the past to her current role.
  • Capital One Signs Agreement to Acquire KippsDeSanto & Co.

    Capital One has entered into an agreement to acquire KippsDeSanto & Co. a leading investment banking firm focused on serving growth-oriented aerospace/defense, government services and technology companies. Based in Tysons Corner, Va. in the Washington, DC region, KippsDeSanto has a national practice specializing in merger and acquisition advisory services.

Professional Development Courses 

  • Live online classes for ABL and Factoring professionals
  • On Demand classes in Appraisals, Factoring, Legal, Workout & Bankruptcy
Learn More