News

LSQ, a provider of working capital finance and payments solutions, completed its System and Organizational Controls (SOC) 2 Type 2 third-party audit for its LSQ FastTrack platform.

Monroe Capital closed a $457 million term debt securitization known as Monroe Capital MML CLO XIII. The term financing was Monroe’s eighth new issue CLO completed since 2018 and is secured by a portfolio of middle-market senior secured loans.

CIBC formed a new junior debt lending and advisory team within its U.S. commercial banking group. Charlie Sheridan, who previously served as executive director of the financial sponsors group at J.P. Morgan, will lead the new team.

The ABI applauded the introduction of S. 3823, the Bankruptcy Threshold Adjustment and Technical Corrections Act, which would permanently set the debt limit at $7.5 million for small businesses electing to file for bankruptcy under subchapter V of Chapter 11.

Spending on artificial intelligence in the United States will grow to $120 billion by 2025, representing a compound annual growth rate of 26% during the 2021 to 2025 forecast period, according to International Data Corporation.

On Wednesday, the Federal Reserve unveiled its plan to increase the federal funds rate to 0.25% to 0.5%. According to the Wall Street Journal, the Fed last increased interest rates in 2018.

Versana plans to launch an industry-backed syndicated loan platform, joining together banks, institutional lenders and their service providers to bring transparency, efficiency and velocity to this $5 trillion market.

Findings of a new survey of small and midsized business leaders conducted by The Harris Poll and sponsored by CIT say businesses are investing in technology to expand online operations and facilitate remote work during the pandemic.

Isabella Casillas Guzman, head of the U.S. Small Business Administration, directed the agency to provide additional deferment of payments for existing COVID Economic Injury Disaster Loan program borrowers for a total of 30 months from inception on all approved EIDL...

Crestmark secured a total of $2.65 million in asset-based lending and factoring financial solutions for eight new clients and the company’s structured finance group provided $8.115 million in financing for two new clients in the second half of February.