News

There were 447 commercial Chapter 11 filings in June, representing a 29% % increase from the 347 filings in June 2021, according to data provided by Epiq Bankruptcy, a provider of U.S. bankruptcy filing data.

According to data released by the Secured Finance Network in its quarterly asset-based lending index and SFNet confidence index, confidence in the asset-based lending market was positive in Q1/22, but banks and other lenders are watchful of a fluctuating economy.

Through its Fast AR Funding platform, Republic Business Credit provided a $500,000 selective factoring facility in less than a week to help a multinational staffing and consulting company meet demand in the United States.

Verdant Commercial Capital signed a multiyear program agreement with Synovus Bank to provide a new equipment finance offering — Synovus Equipment Leasing — for Synovus Bank commercial customers.

Eastern Bank provided $7.5 million in working capital financing to Asian Atlantic Industries (AAI) and welcomed it as a new asset-based lending customer. AAI is a global supplier of electronic components and semiconductors.

First Guaranty Mortgage and affiliate Maverick II Holdings filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware to protect the business while exploring all available restructuring options.

BMO Harris Bank eliminated both non-sufficient funds (NSF) and overdraft transfer fees and reduced overdraft fees. These changes will apply to both consumer and small business banking accounts.

SC&H Capital acted as the exclusive investment banker to CCX, dba Braeburn Alloy Steel, in the sale of substantially all of its assets to a G.O. Carlson subsidiary in the United States Bankruptcy Court for the District of Delaware.  

OppZo, a mission driven financial technology company focused on unlocking access to capital for small and medium sized businesses, received more than $260 million in debt and equity funding from Arcadia Funds.

Marathon Capital entered into a strategic collaboration agreement with Sumitomo Mitsui Banking Corporation. The parties also have entered into an agreement for a minority equity investment in Marathon Capital. The proceeds will be used to accelerate the firm's growth and...