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Triumph Bancorp, Inc. announced that it has signed definitive agreements to acquire First Bancorp of Durango, Inc. and Southern Colorado Corp. The company also announced the entry into an asset purchase agreement by Advance Business Capital d/b/a Triumph Business Capital  to acquire the transportation factoring assets of Interstate Capital Corporation (Interstate Capital).“Collectively, these acquisitions reflect our business strategy of pairing unique commercial finance asset generation with Read Story

Filed Under: Banking News
April 10, 2018 @ 07:14 AM

Magnolia Financial has announced the opening of a regional sales office in Brunswick, GA to expand its presence in the dynamic Coastal Georgia and North Florida marke.The Spartanburg-based company also announced it has hired Mike Parrish to head its new office. A longtime commercial finance industry executive, Parrish was most recently in Commercial Real Estate.  He has held various business development positions for both regional banks and independent Factoring / Asset-Based Lending Read Story

Filed Under: New Office
April 13, 2018 @ 07:00 AM

Bertucci's, the casual restaurant known for its authentic Italian foods and signature brick oven pizzas, announced that it filed voluntary petitions for relief under Chapter 11 over the weekend in the United States Bankruptcy Court for the District of Delaware with Right Lane Dough Acquisitions, LLC serving as the Stalking Horse Bidder.  Under the asset purchase agreement, the Stalking Horse Bidder has agreed to purchase substantially all of Bertucci's assets and assume certain liabilities Read Story

Filed Under: Bankruptcy
April 16, 2018 @ 07:31 AM

Second Avenue Capital Partners, LLC, announced its formation as a new lending platform specializing in asset-based loans for the broader retail and consumer product industry. Established by SB360 Holdings, Second Avenue is a Schottenstein Affiliate. As such, Second Avenue joins a portfolio consisting of the finest retail and consumer businesses in the United States. “We’re excited about this new venture,” said Jay Schottenstein, Chairman of SB360 Holdings.  “Our deep roots and substantial Read Story

Filed Under: New Venture
April 17, 2018 @ 07:41 AM

From the first quarter Phoenix Management “Lending Climate in America” Survey, results show a positive outlook for the U.S. economy and modest growth for the U.S. equity markets. Lenders’ confidence on how they expect the U.S. economy to perform during the next six months remains at an overall ‘B’ grade. While lenders are still optimistic about the U.S. economy in the near term, the grade point average for the U.S. economy saw a slight decrease of 5 percentage points, with a GPA of 2.74 in Q1 Read Story

Filed Under: Economy
April 09, 2018 @ 07:26 AM

2018-04-23 20:45