News

Small business loan approval percentages at big banks dropped slightly from 13.6% in August to 13.5% in September, which is indicative of the struggles that small businesses are facing, according to the latest Biz2Credit Small Business Lending Index.

Houlihan Lokey is serving as financial advisor and investment banker and AlixPartners is serving as restructuring advisor to UTEX Industries, which entered into a restructuring support agreement with the majority of its lenders and will commence reorganization under Chapter 11.

The U.S. Bankruptcy Court for the Southern District of New York granted Avianca access to $2 billion in debtor-in-possession financing, including $1.27 billion in senior secured financing for which Goldman Sachs and JPMorgan Chase are serving as co-lead arrangers.

Rosenthal & Rosenthal completed two separate factoring deals out of its Southeast office totaling $35 million.

According to Epiq, continuing the trend from August, commercial Chapter 11 filings in September were up 78% compared with September 2019, with 747 new filings vs. 420 during September of last year.

Charles Schwab completed its acquisition of TD Ameritrade. The integration of the two companies’ operations is expected to occur over the next 18 to 36 months.

Fast AR Funding provided a $150,000 selective recourse factoring facility without any contracts, minimums or start-up fees to a West Coast apparel brand that needed a factoring partner to support its growth in 2020.

Goldman Sachs BDC and Goldman Sachs Middle Market Lending obtained stockholder approval of all of the proposals related to the merger of the two companies.

Private Debt Investor named Alona Gornick, a principal on the senior loan origination team with Churchill Asset Management, a “Rising Star.” Gornick joined Churchill in 2016 and became the firm’s first full-time originator since its launch as a TIAA/Nuveen affiliate...

CIT’s maritime finance business served as sole lead arranger on a $70 million senior secured financing on behalf of International Container Company Holdings Limited.