News

According to cumulative data for 2020 published in SFNet’s Annual Asset-Based Lending Survey, the $273.9 billion in total credit commitments by asset-based lenders in 2020 increased just 2% compared with the $268.6 billion in total credit commitments recorded for 2019.

IDS, a provider of solutions for the secured finance industry, added four new customers during Q1/21, including two startup equipment finance operations; Metropolitan Capital, a bank expanding into asset-based lending; and a top five U.S. bank, which implemented IDS ABL.

Star Hill Financial, a certified Women Business Enterprise, created a new division: SH Franchise Finance. Star Hill Finance also added Mike Orlov and Greg McNally as senior vice presidents and business development officers and Christopher Wellbrock as senior vice president...

The National Association of Credit Management’s Credit Managers’ Index for April 2021 reached a high not seen for more than 15 years. The monthly combined index for manufacturing and service sectors broke through the 60 mark with a reading of...

Burford Capital, a finance and asset management firm focused on law, appointed Kenneth A. Brause to the role of CFO, effective May 3. Brause, who will replace Jim Kilman, was previously the CFO of OnDeck Capital.

Continued economic recovery from the shock of the COVID-19 pandemic kept the Q1/21 national Citizens Business Conditions Index (CBCI) in upbeat territory with a reading of 53.3. This compares with a Q4/20 reading of 56. A reading above 50 is...

Funds managed by Ares Management’s credit group closed approximately $3.6 billion in commitments across 45 transactions during Q1/21.

IDS completed its annual System and Organization Controls audit and received validation reports for SOC 1 Type 2, SOC 2 Type 2 and SOC 3. A third party conducted the audit to demonstrate the ongoing effectiveness of security controls for...

According to the Secured Finance Network’s 2020 Annual Factoring Survey, overall factoring volume in the U.S. declined 25.9% in 2020, while international factoring showed significantly increased activity, with a 61.8% rise in volume.

Metropolitan Capital Bank & Trust selected IDS ABL to support its small to medium business customers in accessing working capital through a technology platform.