Karen Sessions has been named president of Bank of America Business Capital, succeeding Jeff McLane, who was named U.S. Regional Commercial Credit Executive at Bank of America Merrill Lynch.
Despite political turbulence and Mother Nature running amuck, ABL lenders saw an upswing in business in 2017 after two flat years. ABF Journal contributor Lisa Miller spoke with five ABL executives who described a robust year filled with new partnerships and business opportunities and an optimistic outlook for 2018.
Bank of America Business Capital has provided a $40 million asset-based revolving credit facility to Bridgewater Interiors, a supplier of seating and overhead systems to automotive OEM customers.
Bank of America Business Capital provided an asset-based revolving credit facility to Thalheimer Brothers, a portfolio company of Audax Group.
Bank of America Business Capital provided $84 million in credit facilities to Scrap Metal Services.
Rumors of tax cuts and promises of interest rate hikes swirled in the winds of uncertainty as Q1/17 ended. ABF Journal contributor Lisa Miller interviewed a group of leading ABL executives, who are already enjoying a better year than 2016 and are predicting changes ahead for the ABL market whichever way the economy shifts.
Dunes Point Capital has acquired Power Distribution from Smiths Group. Debt was provided by funds advised by FS Investments, GSO Capital Partners and Bank of America Business Capital.
Seth Benefield was promoted to marketing manager, Eastern U.S. and Europe by Bank of America Business Capital.
Bank of America Business Capital closed a $50 million revolving credit facility to Twin-Star International.
Five industry executives weigh in with ABF Journal contributor Lisa Miller on the current ABL marketplace. They share their thoughts on 2015 performance, cash flow loans, supply and demand, M&A, alternative lenders and provide an outlook for the year ahead.