AloStar Capital Provides $20MM Facility to Flat Rock Capital

Flat Rock Capital entered into a $20 million financing facility with AloStar Capital Finance.

PNC, OnDeck Partner to Launch Digital Business Lending Platform

PNC Bank plans to begin offering fully digital business lines of credit, up to $100,000, in 2019 in an expansion of its online lending to customers and prospects in the U.S. PNC is partnering with fintech lender OnDeck to develop the new platform.

New UltraFICO Score to Launch, Potentially Boosting Consumer Borrowing

The Wall Street Journal reported that Fair Isaac, creator of the popular FICO score, is unrolling a new scoring system, the UltraFICO, in 2019. The new score is designed to boost approvals for credit cards and consumer loans.

Scotiabank Upsizes Lundin Mining Facility to $550MM

Lundin Mining amended its revolving credit facility, increasing the facility to $550 million with a $50 million accordion option. The Bank of Nova Scotia served as administrative agent for the transaction.

Ebron Joins Community Bank of the Chesapeake as EVP

B. Scot Ebron has joined Community Bank of the Chesapeake as executive vice president and Virginia Market banking officer. Ebron will lead the Fredericksburg, VA banking operations, including the deposit and lending teams.

Sears Chairman Lampert Looking for Bankruptcy Financing Partners

Reuters reported that Sears chairman Eddie Lampert is holding discussions with Cyrus Capital Partners to share the $30 million financing to support the company’s Chapter 11 effort.

PNC Capital Markets Leads Mammoth Energy $185MM ABL Revolver

Mammoth Energy Services has amended its credit facility to include a five-year $185 million asset backed revolving credit facility, extending the maturity to October 2023.

Dime Community Bank Names Miley Head of Strategic Marketing

Steve Miley, formerly a vice president from Tallwave, a business design and innovation company, will assume the newly created role of senior vice president and director of Strategic Marketing for Dime Community Bank.

Bibby Provides $60MM in Funding Mid-Year – A 50% Increase YOY

Bibby Financial Services North America funded close to $60 million in alternative financial solutions for more than 240 new clients in the U.S. and Canada during Q2 & Q3 of 2018.

mBank Business Credit Funds $7.5MM L/C for Auto Supplier

mBank Business Credit supplied a $7.5 million line of credit for an Ohio-based auto supplier.