News

White Oak Commercial Finance delivered a $3 million recourse factoring facility to a factor that provides funding to the trucking and transportation industry.

Gordon Brothers and Ritchie Bros. created a formal joint venture: the Gordon Brothers & Ritchie Bros. Alliance, which will provide end-to-end asset advisory and asset remarketing services to the insolvency and restructuring market in Australia and Southeast Asia.

Comvest Credit Partners completed the final close of its latest flagship fund, Comvest Credit Partners V, which closed with more than $1.3 billion of equity commitments and secured credit facilities to increase its available capital.

Tradewind Finance provided a $1 million domestic factoring facility to a seafood importer and wholesaler based in the United States that sells a variety of fish, including snapper, tuna, swordfish, mahi-mahi and grouper, to retailers and distributors in the United...

The American Association of Commercial Finance Brokers elected Michael Hong of Taycor Financial and Kalah Sprabeary of HUB Funding Solutions as new members of its board of directors and elected Teresa Thacker of Brahma Lending and Leasing as a new...

B. Riley Advisory Services is serving as chief restructuring officer and financial advisor to Fresh Acquisitions, which filed for Chapter 11 bankruptcy protection. In addition, VitaNova Brands will extend a post-petition debtor in-possession loan to the company.

Crestmark secured a total of $15.15 million in asset-based lending/factoring financial solutions for seven new clients and Crestmark’s government guaranteed lending group provided $18,126,800 in financing for four new clients in the second half of March.

CannTrust Holdings secured a commitment for a debtor-in-possession and CCAA exit credit facility from Cortland Credit Lending. CannTrust will use the proceeds to fund working capital needs and to support the restoration of its operations.

For its next monthly livestream event of 2021, ABF Journal will gather a panel of experts from Gerber Finance, Marco Financial and PNC Business Credit to discuss the evolving art of business development on April 29 at 3 p.m. EST.

Marco Financial established a $600,000 factoring facility for a New York-based staffing company that provides temporary personnel to global technology firms.