News

Crestmark secured a total of $29,152,900 in asset-based lending solutions for seven new clients in the second half of July, including an $18 million asset-based lending facility for a nationwide transportation company in Colorado.

The approval percentage for small business loan applications at big banks (more than $10 billion in assets) rose three-tenths of a percent from 13.5% in June to 13.8% in July, according to the Biz2Credit Small Business Lending Index.

Oaktree Specialty Lending, a specialty finance company, reported financial results for the fiscal quarter ended June 30, 2020, including total investment income of $34.4 million, which was up from $34.2 million for fiscal Q2/20.

Barings BDC and MVC Capital entered into a definitive merger agreement. The combined company, which will remain externally managed by Barings, is expected to have more than $1.2 billion of investments on a pro forma basis.

Golub Capital BDC reported results for fiscal Q3/20, including net investment income per share of $0.23 compared with $0.24 for fiscal Q2/20. The company also has investments in 254 portfolio companies with a value of $4,250.4 million.

U.S. Bank Community Development Corporation will provide $1.15 million in grants to more than a dozen Black-led Community Development Financial Institution partners and a grant to the African American Alliance of CDFI CEOs.

Rosenthal & Rosenthal completed two separate multi-million dollar factoring deals with California-based apparel companies.

US Capital Global Securities received an endowment into its recently launched US Capital Global Lending LLC, which makes senior loans of $1 million to $10 million to business credit providers that lend to qualifying small and medium-sized businesses.

The U.S. Bankruptcy Court approved Chatham Asset Management’s purchase agreement with The McClatchy Company on Aug. 4. Chatham chose Tony Hunter to serve as CEO of McClatchy following its emergence from Chapter 11.

Fifth Third served as financial advisor to Radio Systems in its acquisition by Clayton, Dubilier & Rice. Fifth Third Business Capital was administrative agent for the asset-based acquisition financing.