News

U.S. government lending programs restored sufficient capital for businesses to weather the effects of the COVID-19 pandemic for a short period, but many firms are currently operating at a monthly loss, according to Biz2Credit’s new six-month analysis of COVID-19’s impact...

Findings from a survey conducted by CFO Research of Argyle Advisory & Research Services and FTI Consulting showed CFOs are taking on greater strategic and enterprise-building roles as they guide their organizations through the challenges of the ongoing COVID-19 pandemic.

Private credit and equity fund Avante Capital Partners promoted Amanda Kim to vice president of the firm. Prior to joining Avante in 2016, Kim served four years in Goldman Sachs' investment management division.

CIT’s power and energy business served as coordinating lead arranger on $256 million of financing for a Pecos County, TX-based 250-megawatt Taygete I energy project owned by 7X Energy.

Phoenix Management Services’ Q4/20 “Lending Climate in America” survey projected a slow and choppy recovery from COVID-19. Lenders expect reduced business opportunities and deterioration of their portfolios to be the greatest risks to their institutions.

In its last online auction of the year, Tiger Group is selling digital cameras, lenses and accessories surplus to the continuing operations of Keslow Camera, a motion picture film and digital cinema camera rental company.

With COVID-19 cases surging and a new wave of restrictions looming, challenges persist for small business owners as they continue to weather the pandemic, according to data from the Q4 Wells Fargo/Gallup Small Business Index.

According to Biz2Credits’s latest Small Business Lending Index, small business loan approval percentages at lage banks decreased from 13.3% in October to 13.2% in November. In comparison, big banks approved 28.1% of the funding requests they received last November.

Clearbanc, an e-commerce investor and funding platform, and Silicon Valley Bank entered a new partnership to accelerate the growth of U.S.-based early-stage technology companies.

Commercial Chapter 11 filings increased 46% in November 2020 compared with November of last year, according to data provided by Epiq.