TAB Bank provided nearly 300 companies with more than $57 million in funding in the fourth quarter of 2024. The financing includes factoring, asset-based and equipment loans, small business lines of credit and more for companies in transportation, manufacturing and distribution, e-commerce, maintenance, logistics and other industries. TAB Bank offers vital capital to help companies meet their growth and success goals.Highlights of the largest Q4 2024 deals include:
$20 million—Funding
Read Story
February 07, 2025 @ 08:15 AM
|
Runway Growth Capital served as the lead lender in a $75 million senior secured term loan facility that is part of a $120 million financing to Piano, a global leader in digital experience management, customer journey orchestration, and advanced analytics. The financing also includes a $45 million Series D investment led by Updata Partners, a Washington, D.C.-based growth equity firm focused on technology. This capital will enable Piano to optimize its platform, expand its market presence, and
Read Story
February 07, 2025 @ 08:10 AM
|
Porter Capital has acquired a prominent factoring firm specializing in the staffing sector. This strategic move expands Porter Capital's presence in the staffing industry and underscores its commitment to delivering tailored financial solutions to B2B businesses across the United States.This acquisition integrates the firm's client portfolio into Porter Capital's operations, ensuring uninterrupted funding access and exceptional service. Key staff members have also joined Porter Capital, adding
Read Story
February 07, 2025 @ 08:05 AM
|
o15 Capital Partners (o15), a mission-driven alternative investment firm dedicated to providing growth capital to undercapitalized companies and communities, successfully closed its inaugural fund, o15 Emerging America Credit Opportunities Fund LP (the “Fund”), at approximately $370 million. The Fund’s capital, together with capital raised by o15 for related co-investment vehicles, totals nearly $400 million. The Fund received strong backing from a broad group of leading institutional investors
Read Story
February 07, 2025 @ 08:00 AM
|
eCapital provided a $10 million asset-based lending (ABL) facility to support the growth and operational needs of a behavioral health facility in Tennessee. The funding addresses the challenges of growing operational demands and fluctuating cash flow cycles, while positioning the health facility for long-term success and sustainable growth.The behavioral health facility provides essential services to individuals in the community seeking mental health and wellness support. However, increasing
Read Story
February 07, 2025 @ 07:59 AM
|
WebBank appointed Ken Laudano as Senior Vice President – Head of Lender Finance. In this capacity, Laudano will be responsible for growing the Bank’s asset-backed lending business. Under Laudano’s leadership, the Lender Finance team will focus on providing debt capital to specialty finance originators and specialty finance fund managers, as well as fund managers of middle market corporate loans. The team will specialize in standard asset-backed warehouse facilities as well as back-leverage
Read Story
February 07, 2025 @ 07:45 AM
|
Pathward Financial, through its subsidiary, Pathward, announced that Anjana Berde has joined the company as the Executive Vice President and Chief People and Culture Officer.In this role, she reports to Pathward CEO Brett Pharr and leads Pathward’s People and Culture department, which includes recruiting and hiring, talent development and engagement, employee benefits and well-being, and employee information systems and analytics.“Anjana brings expertise from 30 years’ experience in human
Read Story
February 07, 2025 @ 07:00 AM
|
Lendscape announced a leadership transition as Kevin Day steps down as Chief Executive Officer. Day, who has been instrumental in shaping Lendscape into the global leader it is today, will remain with the company as an Executive Advisor and a member of the Board of Directors. "Kevin has been at the heart of Lendscape's success for many years, guiding the company through significant growth and transformation," said Tony Davison Executive Chairman at Lendscape. "His contributions have ensured that
Read Story
February 07, 2025 @ 06:00 AM
|
First Citizens Bank and Sixth Street announced the launch of Sixty-First Commercial Finance, a new platform managed by First Citizens Institutional Asset Management, LLC and designed to provide flexible capital equipment financing solutions to middle market companies.A joint venture between Sixth Street's Asset Based Finance platform and First Citizens Bank, Sixty-First Commercial Finance will leverage the well-established capabilities and expertise of both institutions to provide mid- and large
Read Story
February 06, 2025 @ 08:16 AM
|
Ares Management Corporation appointed Kipp deVeer and Blair Jacobson to the newly created positions of Co-Presidents, effective immediately. Both deVeer and Jacobson will report to Michael Arougheti, Ares’ Chief Executive Officer. deVeer and Jacobson will continue to be based in New York and London, respectively.deVeer and Jacobson will transition from their day-to-day management in the Credit Group to work closely with Arougheti to help drive firm-wide strategic and operational initiatives
Read Story
February 06, 2025 @ 08:15 AM
|
MONTICELLOAM, a specialized multifamily and seniors housing bridge lending platform, announced the firm, along with firm affiliates, completed 55 transactions totaling over $2.19 billion in bridge, mezzanine, and working capital financing in 2024.“2024 has been a successful year for our firm, as we have leveraged our expertise to deliver tailored bridge financing solutions for our seniors housing and multifamily clients across the country,” said Alan Litt, Principal and Co-Founder of
Read Story
February 06, 2025 @ 08:10 AM
|
MidCap Financial provided a $36.35 million senior secured credit facility to Vulcan Metals Corporation. Proceeds from the credit facility were used to finance TerraMar Capital’s acquisition of the Company and support ongoing working capital needs.Vulcan Metals, founded in 1872 and headquartered in Kansas City, MO, is a manufacturer of large, highly engineered castings for mission-critical applications in defense, rail & transit, and other specialized industrial markets. Vulcan Metals operates 3
Read Story
February 06, 2025 @ 08:05 AM
|
Siena Lending Group closed a $40 million credit facility with Pharmachem Innovations, LLC. The five-year credit facility was used to finance the acquisition of Pharmachem by Turnspire Capital Partners LLC (“Turnspire”) and to provide additional working capital for the company’s strong growth.Ahdiv Nathan, Vice President at Turnspire, said, “Siena is a great partner who understands the complexities of corporate carve-outs, and they employed a very constructive approach to complete the acquisition
Read Story
February 06, 2025 @ 08:03 AM
|
A new survey from Grant Thornton revealed a dramatic surge in confidence and optimism from chief financial officers (CFOs).Grant Thornton’s Q4 2024 CFO survey engaged more than 250 senior finance leaders and found the uncertainty associated with the election in November has given way to unrestrained optimism about the U.S. economy and meeting business goals. In fact, that optimism rose to 68% — the highest mark since the third quarter of 2021.Compared with the previous quarter, the rises in
Read Story
February 06, 2025 @ 08:00 AM
|
Overland Advantage, a business development company with a differentiated direct lending approach that benefits from a strategic relationship between Centerbridge Partners and Wells Fargo, announced that it served as sole lead arranger and book-runner for a $215.0 million credit facility in support of a new loan origination to facilitate the ongoing growth of FFF Enterprises, Inc., a founder-owned company. In connection with the transaction, Wells Fargo continues to lead a $904.0 million Wells
Read Story
February 06, 2025 @ 07:52 AM
|