News

J D Factors recently provided $820,000 in factoring facilities, including a $400,000 factoring facility to an oil field services company in Texas.

The Federal Reserve expanded access to its Paycheck Protection Program Liquidity Facility to additional lenders and expanded the collateral that can be pledged. The Fed also broadened the scope and eligibility for the Main Street Lending Program.

Celtic Capital provided $2.425 million in accounts receivable and inventory lines of credit to a California-based manufacturer of packaging products primarily used in the healthcare, cosmetics, pharmaceutical and food industries.

Alvarez & Marsal North America served as restructuring advisor to American Commercial Barge Line, successor to American Commercial Line, which successfully completed its recapitalization and emerged from Chapter 11.

Dean Foods completed the previously announced sale of the company’s Uncle Matt’s business to Harmoni. The company also completed the sale of multiple facilities and the Meadow Gold Hawaii brand name to MGD Acquisition. 

Asset Based Lending Consultants opened new offices in Connecticut and the New York Metropolitan Area, which will be led by Patrick Chemngorem, CPA, and Dustin Fitzpatrick, respectively.

The AICPA released recommendations on the appropriate documents and calculations that small businesses should use to qualify for loan forgiveness under the Paycheck Protection Program, including aligning the eight-week coverage period with the beginning of a pay period.

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.