News

According to data from Creditsafe, some Fortune 500 companies are increasingly delaying payments to suppliers during the COVID-19 pandemic.

Commercial Finance Partners was named one of the Inc 5000 Series Fast Growing Companies in Florida for 2020. The company was named the 144th fastest growing company based on increases in revenue and performance from 2016 to 2019.

Ernst & Young developed a Paycheck Protection Program (PPP) loan forgiveness platform built on Microsoft Azure and Power Platform.

CVC Credit Partners raised $657 million for its second U.S.-focused direct lending fund, CVC Credit Partners U.S. Direct Lending Fund II. The fund will follow the same strategy as its predecessor fund and invest in established U.S. middle market businesses.

African Asset Finance Company, a New York-based non-bank specialty finance company, closed a $30 million redeemable preferred share offering, led by Roha II LP. The financing was completed in two equal tranches.

Lawrence Financial Group finalized seven new loan transactions in Q1/20, including a $4 million revolving line of credit for a company that grows and processes sun-dried tomatoes.

Tradewind Finance closed a $650,000 credit facility for a manufacturer of mobile chargers and other consumer electronic accessories based in Hong Kong.

The American Bankruptcy Institute is offering complimentary access to its collection of more than 2,700 sessions on its eLearning website during the ongoing COVID-19 quarantine.

In response to the COVID-19 pandemic, Tiger Group’s valuation services division issued risk assessment guidance for asset-based lenders on 29 consumer goods categories, noting that fashion apparel, fashion accessories and footwear were the riskiest categories.

Fnac Darty signed a €500 million ($542.69 million) credit agreement with a syndicate of banks. Crédit Agricole coordinated the transaction, which is guaranteed up to 70% by the French State.