News

Small business loan approval percentages at big banks (more than $10 billion in assets) rose slightly to 13.3% in February from 13.2% in January 2021, according to the latest Biz2Credit Small Business Lending Index.

The Federal Reserve Board extended its Paycheck Protection Program Liquidity Facility (PPPLF) by three months to June 30, 2021. The extension will provide continued support for the flow of credit to small businesses through the Paycheck Protection Program.

RCS Real Estate Advisors helped facilitate the agreement reached between Premium Brands and Lane Bryant and Simon Property Group to keep all Ann Taylor, LOFT and Lane Bryant stores located at Simon properties open.

Coeur Capital launched a transportation financing division, CCT Factoring. Kim Kringen will lead the new division as president and managing director. In addition, Coeur Capital hired Brendan Dete as a partner.

The International Factoring Association (IFA), the world’s largest association of commercial finance companies, moved the 27th Annual Factoring Conference from Palm Desert, CA, to Phoenix, AZ.

CoStar Group awarded Keen-Summit Capital Partners the 2020 Power Broker Top Sales Firm award. Additionally, Heather Milazzo, vice president of Keen-Summit Capital Partners, received the 2020 CoStar Power Broker Award for closing the highest transaction volume in commercial real estate...

Northeast Bank entered into a loan purchase and sale agreement with The Loan Source to sell all loans originated by the bank under the current round of the Small Business Administration’s Paycheck Protection Program.

Second Avenue Capital Partners provided $6.5 million in debtor-in-possession financing to Solstice Sunglasses, a sunglasses retailer in the United States. The DIP facility will deliver supportive capital to Solstice as the retailer commences a restructuring.

Valaris received approval from the United States Bankruptcy Court for the Southern District of Texas of its prearranged plan of reorganization. Valaris also will receive a $520 million capital injection through the issuance of a $550 million secured note.

Alleon Healthcare Capital recently closed a medical accounts receivable factoring facility with a molecular reference laboratory in Missouri.