News

The American Bankruptcy Institute (ABI) launched a COVID-19 resources website for bankruptcy professionals and the public to access information and analysis regarding the financial distress being inflicted by the COVID-19 pandemic.

BlueVine is partnering with FLEETCOR Technologies to help businesses apply for government relief funding through the Small Business Administration’s Paycheck Protection Program.

Tallwood Venture Capital arranged $27.9 million in debtor-in-possession financing for Wave Computing, which filed for relief under Chapter 11 of the Bankruptcy Code. In addition, Lawrence Perkins of SierraConstellation Partners will serve as the company’s chief restructuring officer.

A syndicate of seven banks led by ING Capital extended BlackRock TCP Capital’s SVCP revolving credit facility by one year to May 6, 2024. The size of the facility remains $270 million, and the pricing and advance rates were unchanged.

The AICPA called for the Federal Reserve to create a short-term accounts receivable lending facility for small businesses.

Bank of the West led the fifth amendment to American Vanguard’s second amended and restated credit agreement, increasing the ratio of maximum loan to trailing EBITDA to 4.25-to-1 and then gradually decreasing the ratio to current levels over the next...

Crestmark secured a total of $24.15 million in ABL financial solutions for 14 new clients in the first half of April, including a $12 million ledgered line of credit facility to an air transport support and services company in Texas.

CIT Group is collaborating with Fintainium to provide an integrated payments and financial workflow management solution for small and midsize businesses. The two companies will waive subscription fees for the first three months.

The Federal Reserve Board will report information on a monthly basis for the liquidity and lending facilities using Coronavirus Aid, Relief and Economic Security (CARES) Act funding.

Suzzanne Uhland joined Latham & Watkins’ New York office as a partner in the restructuring and special situations practice within the finance department. Uhland joined Latham from O’Melveny & Myers.