Small-Business Loan Approvals Improving at Smaller Banks
According to the Biz2Credit index, loan approval rates for small businesses by small banks jumped for the fourth straight month in March, reaching a new high of 50.8%.
According to the Biz2Credit index, loan approval rates for small businesses by small banks jumped for the fourth straight month in March, reaching a new high of 50.8%.
Babson Capital Management provided subordinated debt and made an equity co-investment to support Linsalata Capital Partners’ acquisition of Signature Systems Group, a designer of flooring surfaces, industrial matting and related ground protection products.
An article posted on Moodys.com on its U.S. macroeconomic outlook noted that the U.S. continues to recover at about the same pace it has for nearly four years.
CFO reported that Southeastern Asset Management, Dell’s largest outside shareholder, contends that the proposed $24.4 billion transaction would be a bad deal.
Ridgemont Equity Partners closed Ridgemont Equity Partners I (REP I) with total commitments of $735 million. Limited Partners in REP I include a group of institutional investors from the U.S., Asia and Europe.
CFO reported that more than 350 U.S. firms now have a thinner earnings cushion to cover the debt on their balance sheets.
Bloomberg reported that John Thain has transformed CIT into an enticing takeover target for some of the largest banks.
GB Merchant Partners said it will change its name to GB Credit Partners to better reflect the services it provides to its clients.
Law firm Ruskin Moscou Faltischek said Jeffrey Wurst, shareholder and chair of its Financial Services Banking and Bankruptcy Group, was elected as a fellow of the American College of Commercial Finance Lawyers.
Salus Capital Partners provided a senior-secured term loan to Scott Kay, Inc., a designer and manufacturer of bridal and fashion oriented jewelry. The credit facility will be used to refinance existing indebtedness and for general corporate purposes.