News

Crestmark secured a total of $11,018,800 in ABL financial solutions for seven new clients and Crestmark’s government guaranteed lending group provided $2.42 million in financing for two new clients in the second half of October.

In a three-day online auction event scheduled for Nov. 17-19, Tiger Group will be selling items from the recently closed Westbury National Show Systems, which was previously one of Canada’s largest full-service live event rental production companies.

Gerber Finance launched Gerber+, a division that services businesses seeking funding ranging from $10 million to $25 million. The company’s first client is Molded Acoustical Products of Easton, a full-service insulation manufacturing solutions company.

Gerber Finance launched Gerber+, a division that services businesses seeking funding ranging from $10 million to $25 million. The company’s first client is Molded Acoustical Products of Easton, a full-service insulation manufacturing solutions company.

The U.S. Small Business Administration provided fiscal year 2020 summary loan data, reporting that loans guaranteed through traditional SBA lending programs exceeded $28 billion while the Paycheck Protection Program provided an additional $525 million.

SB360 Capital Partners, an asset disposition specialist, will serve as the exclusive consultant to operate store closing and total inventory blowout sales in 358 stores for Pet Valu, a U.S. retailer of pet food and supplies.

In September, the PayNet Small Business Lending Index increased 12 points (9.1%) to 143.9 and is now 2.9% above its year-ago level. On Main Street, the NFIB Uncertainty Index increased to its second-highest reading in the series’ 46-year history.

Economic activity in the services sector grew in October for the fifth month in a row, according to the Services ISM Report On Business from the Institute for Supply Management.

The October Credit Managers’ Index from the National Association of Credit Management rose 2.4 points to 58.4, marking its highest combined score in more than a decade and a half.

Pacific Drilling and certain of its subsidiaries filed voluntary petitions for relief under Chapter 11. Greenhill & Co. is acting as financial advisor, Latham & Watkins and Jones Walker are acting as legal counsel and AlixPartners is acting as restructuring advisor.