News

CoreFund Capital recently facilitated an increase to the credit facility for a global logistics and freight forwarding company. The initial credit line provided to the client on May 31 was increased from $12 million to $25 million on Nov. 2.

HSBC Bank, part of HSBC Group, is working with Biz2Credit to provide small business owners quicker and easier access when applying for business financing with the Biz2X Platform by Biz2Credit.

Small business loan approval percentages at big banks, or those with $10 billion or more in assets, dropped slightly from 13.5% in September to 13.3% in October, according to the latest Biz2Credit Small Business Lending Index.

BMO Financial Group announced BMO EMpower, a series of long-term commitments to advance inclusive economic recovery in the United States, pledging $5 billion over the next five years to address key barriers faced by minority businesses, communities and families.

The Secured Finance Network’s 76th Annual Convention, “This Way Forward,” will take place from Nov. 17 to 19 and will cover financial, economic and political disruptions that banks and finance companies face in the midst of a pandemic and the...

Northpoint Commercial Finance, a North American diversified financial services company, added asset-based lending as a financial solution for U.S.-based middle-market companies.

A U.S. Bankruptcy Court approved JCPenney’s asset purchase agreement with Brookfield Asset Management, Simon Property Group and the company’s DIP and first lien lenders.

Total U.S. bankruptcy filings in October decreased 41% from last year, according to data provided by Epiq Systems. Commercial Chapter 11 filings increased slightly, with the 550 filings in October 2020 up 4% over the 530 recorded in October 2019.

Commercial finance and invoice factoring company Prestige Capital Finance delivered a $5 million factoring facility to a Southeast-based company that focuses on the manufacturing and assembly of corrugated retail displays.

U.S.-based investment management company M360 Advisors closed a private placement of $100 million aggregate principal amount of 6.75% senior unsecured notes due 2023. Piper Sandler acted as placement agent for this offering.