JP Morgan Provides $75MM Used Powersports Inventory Financing to RumbleOn
RumbleOn, a technology-based omnichannel powersports platform, entered into a $75 million used powersports inventory financing credit facility with J.P. Morgan.
RumbleOn, a technology-based omnichannel powersports platform, entered into a $75 million used powersports inventory financing credit facility with J.P. Morgan.
Modiv, a real estate investment trust, exercised the accordion feature of its credit facility, increasing the credit facility to $400 million. The expanded credit facility now includes an updated accordion feature of up to $750 million. KeyBank is the administrative agent for the facility.
BMO Financial Group committed to purchase carbon credits over five years representing 5,750 metric tons of carbon dioxide removal and reductions via an agreement with CarbonCure Technologies, a climate technology company.
The Secured Finance Network appointed Jennifer Palmer, CEO of eCapital Asset-Based Lending, its new president.
Ares Capital appointed Kort Schnabel co-president after current co-president Michael Smith stepped down. Smith will join the Ares Capital’s board of directors. Smith will also continue to serve as a member of the investment committee of Ares Capital’s investment manager.
Iron Horse Credit, an inventory lender, closed a $2.5 million stand-alone inventory revolving line of credit to an e-commerce retailer and wholesaler of athletic mats and flooring tiles.
Runway Growth Capital closed a senior secured term loan of $45 million to Nalu Medical, a privately held medical device company focused on innovative and minimally invasive solutions for chronic neuropathic pain.
Main Street Capital completed a new portfolio investment to facilitate the recapitalization of Elgin Industries with Main Street funding $34.3 million in a combination of first lien, senior secured term debt and a direct equity investment.
Angel Oak Capital Advisors launched the Angel Oak UltraShort Income ETF. The firm’s first exchange-traded fund provides investors a unique opportunity to invest in short-duration structured credit assets and cash-like instruments that seek to provide higher yield without sacrificing credit quality.
Cyprium Partners promoted three leaders in the firm: Drew Molinari and Nick Stone to partner, and Lisa Vulic to CFO and chief compliance officer.