U.S. corporate finance leaders have increased focus on cutting costs to prepare their firms for potential economic and geopolitical uncertainty, according to the fourth annual U.S. Bank CFO Insights Report.
Axiom Commercial Finance, a subsidiary of Axiom Bank, expanded its team with the hiring of Norman Brame as vice president and business development officer. In his new role, Brame will be focused on originating new factoring business in the Southeast.
Brightwood Capital Advisors, a private credit firm with more than $5 billion in assets under management, provided Allegiance Mobile Health, a private Texas-based provider of medical transportation and 911 emergency services, with debt and equity financing to support the company’s organic and inorganic growth strategy.
Professional services firm Alvarez & Marsal’s corporate performance improvement group appointed New York-based Annie Peabody and Dallas-based managing director Peter Andrews managing director within its corporate transformation services practice.
According to Mitsubishi HC Capital America, the top factors when considering adopting robotics-as-a-service include cost management, technical expertise, access to the latest technology, the ability to monetize RaaS contracts, flexibility, and bundling updates and support.
SLR Digital Finance funded a $500,000 accounts receivable credit facility for a digital media startup that provides programmatic advertising services. The funding will strengthen the company’s working capital position as it begins working with larger agencies with longer payment terms.
Mountain Ridge Capital (MRC) and Alpine Ridge Funding (ARF), both independent asset-based lending and factoring companies backed by Arena Investors, closed a $110 million senior credit facility from Wells Fargo Capital Finance.
While lenders experienced subdued demand for factoring in 2023, reflecting soft consumer retail spending and a cautious retailer approach to inventory management, the Secured Finance Network’s Year-End Factoring Survey found that overall factoring sentiment improved somewhat last year.
First Business Bank promoted Paige Runyard to assistant vice president and senior credit and portfolio manager within its accounts receivable financing team, which is part of First Business Specialty Finance. Runyard previously led the group’s credit department.
Professional services firm Alvarez & Marsal expanded its CFO services group offering with the appointment of managing directors Gregg Nicoll, Vikas Kumar and Sean Kracklauer within its corporate performance improvement practice.