News

Directed Capital closed on a $40 million credit facility from Pacific Western Bank and received a combined $60 million in two other separate credit facilities from Goldman Sachs Bank ($40 million) and Valley Bank ($20 million).

CEO of Wells Fargo, Charlie Scharf, sent a company-wide message to all employees regarding previous comments made referencing diverse talent in June’s “Our commitment to change” memo.

ACAP SME, an SBA-approved non-bank lender and national loan aggregator (purchaser) of Paycheck Protection Program (PPP) loans, in partnership with The Loan Source, ACAP’s servicing team, signed a deal to utilize Biz2Credit’s Biz2X PPP Forgiveness Platform.

Matrix Capital Markets Group, an independent investment bank, advised EnergyUnited Electric Membership on the sale of its wholly-owned propane distribution subsidiary, EnergyUnited Propane, to ThompsonGas.

The AICPA, CPA.com, and Biz2Credit are teaming up on a new platform, CPALoanPortal.com, to streamline the process for CPA firms advising small businesses on loan forgiveness under the Paycheck Protection Program (PPP) and additional small business financing options.

Quanta Services amended its credit agreement to increase the aggregate revolving commitments of the lenders from $2.135 billion to $2.510 billion. BofA Securities, PNC Capital Markets, Truist Securities and Wells Fargo Bank acted as arrangers for the amendment.

Citi released a report that estimates the economic losses attributed to racial inequality in the U.S., which posits the lost GDP of systemic and societal racism and discrimination faced by Blacks over the last 20 years to be $16 trillion...

IT’SUGAR and its subsidiaries has filed voluntary petitions under Chapter 11 of Title 11 of the U.S. Code. Subject to Bankruptcy Court approval, a subsidiary of New BBX Capital will provide debtor-in-possession financing to IT’SUGAR under the protections of the...

Barings has formed the Barings Mubadala Enterprise, an evergreen origination platform seeking to provide financing solutions to European middle-market businesses which aims. The platform aims to provide $3.5 billion in financing over the next 18 months.

Avianca Holdings secured commitments for debtor-in-possession financing totaling more than $2 billion and filed a motion to approve the financing in the U.S. Bankruptcy Court. Goldman Sachs Lending Partners and JPMorgan Chase are serving as co-lead arrangers.