Biz2Credit said that an analysis of 1,000 loan applications processed through its online lending platform showed that approval rates of small business financing requests in January increased to their highest levels in the past 12 months.
First Capital has provided a $7.75 million asset-based lending facility to Butler Johnson, a distributor of premium surfacing solutions. The senior credit facility consists of a $7 million working capital revolver collateralized by accounts receivable and inventory and a term loan in the amount of $750,000.
The outlook for 2012 is that funding will be readily available for restaurant companies and franchisees, according to CIT’s “2012 U.S. Restaurant Industry Outlook,” featuring Bob Bielinski, managing director and head of the Restaurant Industry.
Alorica, a provider of outsourced customer management solutions, announced that it has secured a five-year, $200 million senior secured credit facility. Bank of America Merrill Lynch served as sole lead arranger and sole bookrunner.
Capital One Bank closed a three-year $10 million revolving credit facility to Teton Buildings, a manufacturer of remote workforce facilities and modular buildings. Proceeds of the facility will be used for ongoing working capital needs.
Heather Andresen has joined FGI Finance as vice president of Business Development. Prior to FGI, Andresen was responsible for sourcing strategic M&A and capital raising opportunities as VP of Business Development with Catalyst Financial.
JLL Partners and American Dental Partners announced that JLL, through its affiliated entities, completed its acquisition of the company. JLL has secured committed debt financing from KeyBank, CIT Healthcare and NXT Capital to finance the acquisition.