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Middle market private companies in the Golub Capital Altman Index experienced year-over-year earnings growth of 16.3% and revenue growth of 3.2% during the first two months of the first quarter of 2021. This compares to year-over-year earnings growth of 14.9% and revenue growth of 2.9% in the fourth quarter of 2020. This is the last comparison of post-Covid profit performance to a completely pre-Covid period, and the growth rate demonstrates very meaningful economic strength in the U.S. middle Read Story

Field Under: Economic Commentary
April 14, 2021 @ 08:10 AM

Fifth Third Bank announced that Wanda Alverio and Andre Lemons have joined the Fifth Third Business Capital team as vice president, ABL principal. In addition, John Littrell was promoted to group head portfolio management. Wanda Alverio joins as vice president, ABL principal and brings nearly 25 years of banking experience to Fifth Third, including more than a decade in asset-based lending. Wanda earned an MBA in finance from Nova Southeastern University and holds a bachelor’s degree in Read Story

April 14, 2021 @ 08:00 AM

Runway Growth Capital provided a senior secured term loan of $20 million to Bombora, Inc., a leading intent data solutions provider for B2B (business to business) marketers. The growth capital will be used to help Bombora capitalize on market opportunities, build stronger partner relationships and accelerate its pace of innovation.Bombora’s data aligns marketing and sales teams, enabling them to base their actions on the knowledge of what companies are in-market for which products. Bombora’s Read Story

Field Under: Technology
April 14, 2021 @ 07:24 AM

eCapital Corp. achieved substantial growth in 2020 and consolidated a total of eight acquired entities into a simplified corporate structure.    In its 2020 growth surge eCapital provided its clientele access to over $4 billion in financing across 80 industries in the US and Canada, and also achieved an ~66.5% YoY increase in gross revenues and an ~56% YoY increase in portfolio size.   An alternative capital solutions provider must deliver working capital based on the quality of its customer’s Read Story

Field Under: Industry News
April 14, 2021 @ 07:21 AM

Car Capital, an automotive FinTech company, closed a $20 million credit line with Medalist Partners. This transaction gives Car Capital access to capital to expand their business, fund deals, and ultimately get consumers into cars. Car Capital's proprietary, web-based platform, Dealer Electronic Auto Loan System (DEALSSM) allows franchise and independent dealers to make 24/7 immediate auto loan decisions for 100% of their customers."Car Capital is excited to be able to help our dealer partners Read Story

Field Under: FinTech
April 14, 2021 @ 07:15 AM

Hitachi Business Finance has announced that Heather Rachel has joined their business development team, where she will focus her efforts on supporting business owners and trusted advisors across the United States. Based in the greater Minneapolis area, Rachel will assist growing businesses with efficient access to working capital. “Heather is an exciting new addition to our team and is an established leader in the factoring and asset-based lending industry,” says Mike Semanco, Hitachi Business Read Story

April 14, 2021 @ 07:10 AM

For decades, both Ritchie Bros. and Rouse Services have been serving the equipment and truck industries with their respective appraisal businesses. With Ritchie Bros.' acquisition of Rouse last year, the company has now combined these two appraisal businesses into one team with unrivalled hands-on equipment experience, knowledge, and data. "Our appraisers are armed with the richest dataset anywhere in the industry," said Raffi Aharonian, Managing Director, Rouse Appraisals. "We can also directly Read Story

Field Under: Industry News
April 14, 2021 @ 07:09 AM

Greystone announced that Romano Tio, Senior Managing Director, has joined the Commercial finance team led by Scott Chisholm, based in New York. In this role, Mr. Tio will focus on large loan origination across an array of platforms while working to expand the firm’s lending activities to a broader scope of commercial asset classes.With 30 years of relevant CRE industry experience, Tio joins Greystone from Ackman-Ziff, where he was a Senior Managing Director. Having managed $10 billion in Read Story

April 14, 2021 @ 07:00 AM

SG Credit Partners provided a privately-held family investment vehicle with a $1 million high net worth guarantor-based loan A high net-worth couple (“the Guarantors”), via the family investment vehicle, were in the later stages of a ground-up construction on a new home. The total cost had eclipsed the initial budget and the additional capital required to complete construction was beyond the loan-to-value comfort level for traditional lenders.SG was able to underwrite this transaction by taking Read Story

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April 14, 2021 @ 06:00 AM

Commercial and specialty finance veterans Mark Seigel, Evan Nadler and Tony Liobis announce the launch of Crown Partners, an independent advisory firm specializing in $5 to $75 million senior credit facilities and loan products for U.S. companies in need of incremental working capital, executing an acquisition, or undergoing a turnaround. Crown’s principals previously led Veritas Financial Partners, a private equity sponsored direct lender providing senior secured loans including working capital Read Story

Field Under: Industry News
April 13, 2021 @ 08:00 AM

Mitsubishi UFJ Lease & Finance Co., Ltd. (MUL) and Hitachi Capital Corporation (HC) have merged to form Mitsubishi HC Capital Co., Ltd.As a result of this merger, Mitsubishi HC Capital will be one of the largest global players in the industry in terms of both its size and business domains, with 10 trillion yen (US$91,380,000,000) of total assets, over 100 billion yen (US$913,800,000) of net profit, and nearly 10,000 employees. Mitsubishi HC Capital will accurately capture the changing needs of Read Story

Field Under: Industry News
April 13, 2021 @ 07:49 AM

CVB Financial Corp., the holding company for Citizens Business Bank, appointed Brian T. Mauntel as the President of CBB, effective April 26, 2021. In his new position, Mr. Mauntel will be responsible for overseeing the Bank’s 57 business financial centers, specialty lending groups including Dairy & Livestock and Agribusiness, sales support groups, and our wealth management division, CitizensTrust.“After an extensive search, we are pleased to have found and hired a President with deep leadership Read Story

April 13, 2021 @ 07:29 AM

Cambridge Savings Bank (CSB), a full-service mutual bank with a customer-first approach and more than $5 billion in assets, announced it provided Worcester Envelope Company with an expanded credit facility, based upon the growth expected as Worcester becomes part of the performance driven marketing company Moore.  Moore’s acquisition of Worcester, a 3rd generation, family-owned custom envelope manufacturing company, enables the company to expand their envelope manufacturing capacity, redundancy Read Story

Field Under: Specialty Industries
April 13, 2021 @ 07:21 AM

NXT Capital provided a senior credit facility in support of Wind Point Partners’ acquisition of Zone Mechanical. NXT Capital acted as the Sole Lead Arranger and Bookrunner on this transaction. Zone Mechanical is one of the largest providers of commercial and industrial refrigeration installation and maintenance services to customers in Illinois, Wisconsin, Michigan and Indiana. Through decades of experience, Zone has established a reputation as one of the Midwest’s premier refrigeration and HVAC Read Story

Field Under: HVAC
April 13, 2021 @ 07:15 AM

Getzler Henrich's Mark D. Podgainy is participating on a panel hosted by the American Bankruptcy Association at its Annual Spring Meeting 2021 entitled "Dealing with the Insolvent or Near-Insolvent Hotel Debtor — Debtor and Creditor Perspectives, Actions and Opportunities" on Wednesday, April 14 from 1:00 to 2:00 pm. This session is open to all registered conference attendees.Podgainy is joining moderator Nicholas J. Zluticky (Stinson LLP) and fellow panelists David M. Neff (Perkins Coie LLP) Read Story

Field Under: Industry News
April 13, 2021 @ 06:54 AM