GemCap announced a $7.4 million term loan against machinery and equipment to a manufacturer of fibers and fabric for the automobile industry.
Total commercial filings in the U.S. decreased in May 2013 from last year to 4,017, representing a 25% decline from the 5,341 business filings recorded in May 2012.
The U.S. Bankruptcy Court in Delaware approved the sale of Ormet to Smelter Acquisition, a portfolio company owned by private investment funds managed by Wayzata Investment Partners.
The Online Trust Alliance named PwC US to its 2013 Online Trust Honor Roll for demonstrating exceptional data protection, privacy and security services that protect customers and brands from the increased threats of cybercriminals.
O’Keefe announced Tom McCabe, CPA, joined as a managing director in Chicago. McCabe previously held senior positions with a Big 4 accounting/consulting firm and a national turnaround consulting firm.
The Institute for Supply Management said its Non-Manufacturing Index registered 53.7% in May, higher than the 53.1% registered in April, indicating continued growth at a slightly faster rate in services sector.
CapitalSource announced it led the structuring of a senior credit facility for Net Health, which designs, hosts and supports SaaS-based electronic health record software.
SNL Financial reports that the number of undercapitalized banks fell to the lowest level in 17 quarters at the end of Q1/13, with more banks escaping undercapitalized territory through positive means.
Crossroads Financial announced that it provided a $4 million PO financing facility for the benefit of an importer of luggage and accessories. Crossroads partnered with Bibby Financial Services, which also provided a factoring facility to the company.
According to the Federal Reserve’s recent Beige Book, overall economic activity increased at a modest to moderate pace since the previous report, with manufacturing expanding in most districts.