News

Merchants & Marine Bancorp, the parent company of Merchants & Marine Bank, launched Voyager Lending, a division dedicated to offering lending solutions for small business owners.

PNC Financial Services Group announced the expansion of its environmental finance commitment to $30 billion. The bank initially announced in August 2021 a commitment of $20 billion over five years in support of environmental finance.

Middle market private companies in the Golub Capital Altman Index experienced year-over-year earnings growth of 9% and revenue growth of 11% during the first two months of Q4/22.

Ares Management closed its Infrastructure Debt Fund V (IDF V), which is focused on making subordinated investments across the digital, utilities, renewables, energy and transportation sectors. IDF V held its final close on Dec. 29, 2022, at approximately $5 billion.

First Citizens Bank announced that its middle market banking business provided a total of $65.8 million in senior secured financing for affiliates of Morningstar Properties, an investor in and operator of self-storage facilities, marinas and other specialty real estate assets.

Cresset Partners has launched the Cresset Partners Private Credit Fund. The fund invests in a diversified portfolio of private senior secured loans, among other private credit opportunities, with the objective of delivering consistent income and strong downside management.

BHI provided an $80 million construction loan to 200 East 20th St., which is a development project of a new condominium building located at 20th Street and Third Avenue in the Gramercy Park neighborhood of Manhattan, NY.

According to the latest Biz2Credit Small Business Lending Index, small business loan approval percentages at big banks fell from 14.6% in November to 14.5% in December and tied with January’s lowest monthly approval rate in 2022.

Citizens’ 2023 M&A Outlook revealed both upbeat expectations for company performance and high desire for growth in a low-growth world in the coming year.

Culain Capital Funding completed a $1 million accounts receivable factoring facility with a startup specialty maintenance staffing company based in Texas.