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Total commercial Chapter 11 filings in May increased 48 percent from the previous year, according to data provided by Epiq Systems, Inc. Commercial Chapter 11 filings totaled 722 in May 2020, elevated from the May 2019 total of 487, the American... Read Story

Filed Under: Bankruptcy
June 04, 2020 @ 09:15 AM

The recent bankruptcy filings of Hertz and Advantage Rent A Car could further exacerbate the downward pressure on U.S. used vehicle prices for the remainder of the year and pressure lease residual values and recovery rates on defaulted auto loans... Read Story

Filed Under: Bankruptcy
June 04, 2020 @ 09:10 AM

LQD Business Finance announced the LQD Power Up Program, an internal program devoted to creating new opportunities through internships and mentoring to underprivileged young adults in the Chicagoland area.George Souri, the company's CEO, made the... Read Story

Filed Under: Industry News
June 04, 2020 @ 09:05 AM

Gibraltar Business Capital is building its leadership team by promoting exemplary team members from within.Jeremy DeBoer has been promoted to Senior Vice President and Account Executive Team Leader. Stan Scott was promoted to a Senior Vice President... Read Story

June 04, 2020 @ 09:00 AM

CIT Group Inc. announced that its Asset-Based Lending team served as administrative agent for a new $185 million senior secured, asset-based credit facility for Orscheln Farm and Home LLC, a leading retailer of farm supplies, home improvement... Read Story

Filed Under: Agriculture
June 04, 2020 @ 08:55 AM

Acting Comptroller of the Currency Brian P. Brooks today expressed concerns about the effects of regional and local responses to COVID-19 on the federal banking system. In letters to the National League of Cities, the U.S. Conference of Mayors, and... Read Story

Filed Under: Industry News
June 03, 2020 @ 09:31 AM

ABM, a leading provider of facility solutions, announced it has successfully completed an amendment to its senior, secured credit agreement.  The Company is a party to a syndicated credit facility comprised of an $800 million revolving line of credit... Read Story

Filed Under: Industry News
June 03, 2020 @ 09:30 AM

Rosenthal & Rosenthal, Inc., the leading factoring, asset based lending and purchase order financing firm in the U.S., announced the completion of two separate deals – a $5 million revolving line of credit and a $1.5 million asset based loan facility... Read Story

Filed Under: Distribution
June 03, 2020 @ 09:25 AM

Metropolitan Partners Group Management, LLC ("Metropolitan"), a direct-lending fund manager that provides senior-secured, transitional capital to small and mid-sized businesses in the U.S., recently completed an investment in International Literary... Read Story

Filed Under: Industry News
June 03, 2020 @ 09:15 AM

Online trade finance scale-up Stenn has secured participation from Barclays Bank, Coface SA, and Crayhill Capital Management LP in its latest investment round. The funding is for its core trade financing programme, Stenn Assets Funding, now sized at... Read Story

Filed Under: FinTech
June 03, 2020 @ 09:00 AM