News

Crestmark secured more than $44.8 million in commercial financing for 60 businesses in the second half of November, including $1.8 million in asset-based lending financial solutions for five new clients.

In October, the PayNet Small Business Lending Index increased 2.5 points to 147.3, although that was 0.9% below last year’s October level. While the SBLI rose moderately again in October, preliminary November data suggests challenges ahead as COVID-19 cases rise...

Financing for restaurant franchise operators in the large and middle-tier segments has mostly bounced back to what it had been before the onset of the COVID-19 pandemic, according to Brian Geraghty, head of restaurant finance at Mitsubishi UFJ Financial Group.

Alvarez & Marsal served as restructuring advisor to Superior Energy Services in the company’s financial restructuring and commencement of its Chapter 11 case. Superior serves drilling, completion and production-related needs of oil and gas companies.

eCapital Commercial Finance, a division of eCapital, provided a $2 million factoring facility to a hard seltzer provider to support its increasing production demands.

AlixPartners served as restructuring advisor to UTEX Industries in its emergence from Chapter 11. The financial restructuring reduced UTEX’s funded debt by approximately $700 million and provided $42.5 million in new financing.

Loeb’s new line of credit option allows clients to leverage the value of their machinery as collateral to gain financial flexibility without the burden of P&I payments for working capital.

Versant Funding funded a non-recourse factoring facility to a distributor of electric bicycles and scooters, which sells primarily through e-commerce channels.

First Eagle Investment Management launched First Eagle Credit Opportunities Fund, a multi-sector portfolio investing primarily in private and public credit assets, including direct lending, middle market “club” loans, syndicated bank loans and high yield bonds.

BHH Capital Partners provided Chime Solutions, a Georiga-based provider of customer contact services, with a $30 million recapitalization investment.