News

eCapital provided a $5 million factoring facility to an importer and distributor of wine and spirits. The beverage company will use the factoring facility to support its new imported product available for purchase from retailers such as Costco.

SB360 Capital Partners, an asset disposition specialist, is serving as the exclusive consultant to assist girls clothing and accessory retailer Justice in inventory sales of 85 stores as well as the e-commerce site at shopjustice.com.

The amount of Chapter 11 bankruptcy filings in the third quarter, which are tracked in the newest Polsinelli-TrBK Distress Indices Report, hit the highest level since 2010. This trend is expected to continue in 2021.

CoreFund Capital recently facilitated an increase to the credit facility for a global logistics and freight forwarding company. The initial credit line provided to the client on May 31 was increased from $12 million to $25 million on Nov. 2.

HSBC Bank, part of HSBC Group, is working with Biz2Credit to provide small business owners quicker and easier access when applying for business financing with the Biz2X Platform by Biz2Credit.

Small business loan approval percentages at big banks, or those with $10 billion or more in assets, dropped slightly from 13.5% in September to 13.3% in October, according to the latest Biz2Credit Small Business Lending Index.

BMO Financial Group announced BMO EMpower, a series of long-term commitments to advance inclusive economic recovery in the United States, pledging $5 billion over the next five years to address key barriers faced by minority businesses, communities and families.

The Secured Finance Network’s 76th Annual Convention, “This Way Forward,” will take place from Nov. 17 to 19 and will cover financial, economic and political disruptions that banks and finance companies face in the midst of a pandemic and the...

Northpoint Commercial Finance, a North American diversified financial services company, added asset-based lending as a financial solution for U.S.-based middle-market companies.

A U.S. Bankruptcy Court approved JCPenney’s asset purchase agreement with Brookfield Asset Management, Simon Property Group and the company’s DIP and first lien lenders.