JPMorgan Chase Bank is leading a syndicate of lenders in providing financing of up to an aggregate of $77 million to partially finance WeCommerce’s acquisition of Stamped.
City National Bank created a new national corporate banking division. Brent Williams, a senior vice president for City National Bank, will lead the new division. Williams also leads the bank’s L.A. Metro commercial banking business unit.
Gerber Finance provided a $3 million line of credit to Karay Metals, a women-led supplier of steel tubing. The deal was made under Gerber Finance’s core division, which services companies seeking $500,000 to $10 million in financing.
CoStar Group awarded Keen-Summit Capital Partners the 2020 Power Broker Top Sales Firm award. Additionally, Heather Milazzo, vice president of Keen-Summit Capital Partners, received the 2020 CoStar Power Broker Award for closing the highest transaction volume in commercial real estate deals.
Viva Capital Funding hired four new employees: Celina Barron as account manager, Paco Irigoyen as account manager, Darlene Rosales as account specialist, and Sasha Landskov as marketing specialist.
Martin Bernstein joined B. Riley Principal Investments as head of private investments. He will be responsible for sourcing, underwriting and managing investments with private companies in addition to leading distribution to B. Riley Principal Investments’ syndication partners.
Northeast Bank entered into a loan purchase and sale agreement with The Loan Source to sell all loans originated by the bank under the current round of the Small Business Administration’s Paycheck Protection Program.
Alvarez & Marsal appointed Hameer Vaid a senior director in the firm’s private equity performance improvement group in New York. Before joining A&M, Vaid spent six years with PwC’s real estate advisory practice in New York.
FTI Consulting appointed Jason Shafrin, Ph.D. senior managing director in the Center for Healthcare Economics and Policy within the firm’s economic consulting segment.
Shore Bancshares, the holding company of Shore United Bank, and Severn Bancorp, the holding company of Severn Savings Bank, entered into a definitive agreement under which Severn will merge with and into Shore in a stock and cash transaction valued at approximately $146 million.