News

MidCap Business Credit closed a $10 million asset-based credit facility for a privately held paper converter specializing in custom paper products for packaging manufacturers. The financing package consists of a working capital revolver and equipment term loan. The facility will...

Advantage Business Capital provided a $2.25 million asset-based loan to a security staffing services company. Advantage provided the company with a scalable financing structure capable of supporting its expanding operations and future contract growth.

TradeCap Partners, a provider of purchase order funding, closed a $350,000 purchase order finance facility for a startup candy distributor led by a management team with extensive industry experience. TradeCap was introduced to the company by an East Coast factor...

Commercial Finance Partners (CFP), a debt advisory and direct lending platform, has closed a $750,000 accounts receivable purchase facility for a St. Louis-based contract security services company that recently completed a change-of-ownership acquisition financed with an SBA 7(a) loan. The...

FGI Worldwide, a provider of working capital financing and trade credit insurance solutions, readded Rick Perea to FGI Risk as director of business development. Based out of FGI’s Boca Raton office, Perea will focus on business development and relationship management,...

Huntington Bancshares appointed Brant Standridge as president of Huntington Bancshares and its subsidiary, The Huntington National Bank, effective immediately. The promotion reflects an extensive succession planning process conducted by the board of directors; chairman and CEO Steve Steinour; and third-party...

Tiger Group will conduct an online auction featuring vinyl window, patio door and insulating-glass manufacturing equipment and inventory from Showcase Window and Door Company, a longtime manufacturer serving residential new-construction and replacement markets. The timed, online auction opens on Thurs.,...

SouthStar Capital, a private direct lender and specialty finance company, closed a $3 million invoice factoring facility for a Charlotte-based stud welding company serving steel fabricators. As the company continued to grow, the timing gap between completing projects and receiving...

Referred to Sallyport by a previous client, the company needed additional working capital to bridge the gap between paying healthcare professionals and collecting payments from customers. Sallyport Commercial Finance funded a $500,000 accounts receivable factoring facility for a growing healthcare...

Asset-based lenders spent the week writing borrowing bases rather than pricing grids. On September 1, Smart Sand amended its senior secured asset-based credit agreement to lift revolving commitments from $30 million to $50 million, with First-Citizens Bank & Trust Company...