Allied Systems Holdings has received final approval of its $20 million debtor-in-possession (DIP) financing from U.S. Judge Christopher Sontchi in the U.S. Bankruptcy Court for the District of Delaware.
AloStar Business Credit said it provided a $5 million secured credit line to Warner Robins Supply, a building materials retailer. The deal was completed in partnership with Morris Bank, which provided a separate credit line.
U.S. Bankruptcy Judge Kevin Carey has approved Tribune Co.’s reorganization plan, overruling minor objections to the plan, and saying he would sign off on it once final wording changes were made, a BusinessWeek article reported.
Bloomberg noted in a story that three different municipalities in California have filed for bankruptcy in less than a month — all for different reasons, suggesting what happens when a crisis strips away excess revenues.
Paragon Financial Group has provided a $900,000 purchase order financing and invoice factoring line of credit deal to a provider of heavy equipment, such as backhoes and cranes, to the United Nations. The financing will enable the company to take on global contracts and expand.
According to a new survey from the National Small Business Association, cash flow issues continue to plague America’s small businesses. Nearly half (43%) reported that they needed funds at one point in the last four years and were unable to find any willing sources.
Northern Berkshire Healthcare, a nonprofit healthcare system located in North Adams, MA, has completed a Chapter 11 plan of reorganization. The investment banking group of Carl Marks Advisory Group served as financial advisor to the system.