News

David A. Scherl will be stepping down as Morrison Cohen’s chairman and managing partner and will instead assume the role of chairman emeritus at the law firm.

J D Factors provided $2.075 million in factoring facilities for five clients the week of March 4, 2019.

CTI Foods filed for voluntary petitions under Chapter 11 in order to implement its financial restructuring plan. Barclays Bank and Wells Fargo will provide the company with $155 million in DIP financing to support it through the restructuring.

The Commercial Finance Association Education Foundation released the findings of a comprehensive study of the scope and impact of the secured commercial finance market in the U.S.

Home décor retailer Z Gallerie filed voluntary petitions to restructure under Chapter 11. The company’s existing secured lender, KeyBank, will provide it with a $28MM DIP facility to support it through the bankruptcy process.

Liquid Capital provided $2.35 million in factor facilities as of February 28, 2019.

Utica Leaseco completed a $550,000 capital lease during the week of March 4, 2019.

Nationwide expanded its relationship with online small business lending company BlueVine by offering BlueVine's fast and flexible financing to small businesses through Nationwide's Business Solutions Center.

Webster Bank was recognized among the World’s Best Banks in Forbes’ inaugural World’s Best Banks list. Only 60 banks in the United States were recognized for this honor.

Solar Capital Partners and its affiliates will fund $30 million in second lien debt financing for BAMFi, a provider of fintech solutions. Hovde Group served as sole arranger and placement agent on the transaction.