News

Amerisource Business Capital closed a $3 million credit facility for a transportation company based in Colorado.

The Philadelphia Inquirer reported that WSFS, the largest Philadelphia—based bank, faces millions in losses from bad loans to an oil refinery and a nursing home operator._x000D_

Monroe Capital acted as administrative agent and joint lead arranger on the funding of a senior credit facility in support of Equity Group Investments’ partnership with Lanter Delivery Systems._x000D_ _x000D_

_x000D_ Antares served as a lead arranger and is acting as administrative agent for a senior secured credit facility to refinance existing debt and provide additional debt financing for New Mountain Capital’s Gelest._x000D_ _x000D_ _x000D_ _x000D_

Avidbank Specialty Finance provided Envoy Group with combined credit facilities of $5.5 million to provide working capital.

Obalon Therapeutics reduced its outstanding debt under a facility with Pacific Western Bank from $20 million to $5 million.

Portage Point Partners added Arun Lamba and Max Golembo to support Portage Point’s growing client base and closely follows the hiring of Scott Canna and Ryan Williams.

Omni Management Group expanded its team with the appointment of Alexa Concepcion as vice president of Securities Services.

Approval rates for small business loan applications inched up to a record high of 27.6% at big banks in June, according to the Biz2Credit Small Business Lending Index.

Total commercial Chapter 11 filings during the first six months of the year increased 5% to 2,854 from the 2,716 total filings during the same period in 2018. Total commercial filings also increased slightly to 19,531.