Category: Issues

Harborcove Financial — Where Wall Street and Main Street Meet

Last September, two veteran equities traders were introduced to two factors, and serendipity ensued in the form of Harborcove Financial. In short order the four entrepreneurs embarked on a mission to bring the best of Wall Street together with Main Street and provide much-needed capital to small businesses. We decided to check in with two of the company’s principals — Harvey Gross and Russell Hackmann — for an update on what’s happened since.

Commercial Finance Software… Are You Still Driving a Hoopty*?

When in comes to your commercial finance software system, are you like the guy down the street who’s trying to squeeze five more years out of a clunker that’s held together with the technological equivalents of spit, glue and coat hangers? If so, the following article is a high-level overview of what it takes to pick out a sleeker model.

*Urban Dictionary defines a hoopty as any car that meets certain characteristics, including but not limited to requiring the driver to enter through the passenger side; requiring half a clothes hanger to hold up the exhaust pipe and the other half to serve as an antenna; and/or requiring the manual up and down movement of the turn signal to signify the driver’s intention to turn. (Variant spellings: hooptie, hoopdie, hoopdy. See also: clunker, jalopy)

Secured Bridge Loans to Emerging Companies

This article highlights certain legal and practical issues related to making secured bridge loans to emerging companies. In particular, this article focuses on issues related to subordination of VC-provided bridge loans to existing and future senior debt and to appropriately structuring security agreements.