News

Biz2Credit and CPA.com introduced a new SBA 7(a) lending option to the CPA Business Funding Portal, a cloud-based platform that supports accounting firms in securing business financing options for clients.

After June 30, Truist Financial will use CME term SOFR as the replacement reference rate for certain outstanding floating rate and fixed-to-floating rate debt securities and preferred stock that use three-month U.S. dollar LIBOR as the reference rate.

Republic First Bancorp, the parent company of Republic First Bank, is dedicating additional resources to grow its Small Business Administration (SBA) team under the direction of Arnie Horvath, executive vice president and SBA director for the bank.

Rialto Bioenergy Facility, a subsidiary of Anaergia, initiated voluntary Chapter 11 restructuring proceedings in the U.S. Bankruptcy Court for the Southern District of California. Rialto Bioenergy Facility intends to enter into a debtor-in-possession financing facility with a lender.

QualTek Services, an infrastructure services provider, announced a restructuring transaction that will reduce the company’s debt by approximately $307 million and provides $40 million of additional liquidity.

TriumphPay added the Worldwide Express family of brands, which includes Worldwide Express, GlobalTranz and Unishippers, to its open payments network as a full audit and payments network participant.

LM Funding America, a cryptocurrency mining and technology-based specialty finance company, reported its $2.6 million stalking horse bid to purchase the assets of Symbiont.io, which is currently in Chapter 11 bankruptcy proceedings, is unopposed and expected to be approved by...

Jyl London, vice president of product and program management at TAB Bank, was recognized by Utah Business as one of 30 Women to Watch in 2023.

Reuters reported that First Citizens Bank filed a lawsuit against HSBC after it hired “dozens” of former Silicon Valley Bank employees in April. According to Reuters, First Citizens is alleging that HSBC “violated federal law by hiring away the workers.”

BroadLight Capital launched a $225 million debut fund to invest in growth stage companies across consumer and technology sectors.