News

Republic Business Credit provided a distributor of women’s apparel with a $1.5 million traditional factoring facility with credit protection and extended customer payment terms.

Bibby Financial Services migrated its Singapore operations to the latest version of Lendscape. The move is aimed at streamlining Bibby Financial Services' lending operations and improving the user and client experience.

First Citizens Bank is expanding its middle-market banking group to support the financial needs of midsized businesses in the Midwest and south-central regions of the United States.

Franklin Capital completed a factoring facility for a non-profit staffing firm. A former client reached out because they were experiencing cash flow difficulties similar to what previously led them to Franklin Capital.

According to the latest Biz2Credit, small business loan approval percentages at big banks slipped again in February, falling from 14.4% in January to 14.2%. This marks the ninth consecutive month in which big bank approval percentages have declined.

Gibraltar Business Capital launched its new equipment financing business, Gibraltar Equipment Finance, which will provide equipment loans and leases from $1 million to $20 million. Jeffry S. Pfeffer will lead the new business as president.

MetLife Investment Management, the institutional asset management business of MetLife, originated $15.1 billion in private placement debt and private structured credit across 245 transactions in 2022.

The New York State Department of Financial Services closed Signature Bank over the weekend and appointed the FDIC as receiver. The FDIC transferred all deposits and assets to a bridge bank that began operations on Monday.

GemCap has provided working capital to a handful of companies in 2023 with plans to keep going.

Greater Commercial Lending, which provides loans to businesses and organizations in under-served and rural communities, obligated more than $811 million in government-guaranteed U.S. Department of Agriculture commercial loans during fiscal year 2022.