H.I.G. Capital, a global alternative asset management firm, closed its third European lower middle market fund, H.I.G. Europe Capital Partners III, with aggregate capital commitments of $1.3 billion (€1.1 billion).
COVID-19 has transformed how many companies do business. Michael Gaul takes a look at how some companies are cutting costs, especially those struggling to survive in an economy damaged by the pandemic.
According to a survey from Cerebro Capital, 76% of non-bank lenders expect loan demand to surge over the coming months as borrowers leave commercial banks in search of relaxed covenants and flexible loan structures.
There are numerous uncertainties surrounding the Paycheck Protection Program, but one of the most puzzling is the Small Business Administration’s bankruptcy exclusion, which has been treated unevenly across the court system.
Finding the right partner to raise capital for a refinancing always has its challenges, but in the midst of COVID-19, those challenges have become more numerous and severe. Bayard Hollingsworth of Phoenix Management Services explains some of the considerations lenders and borrowers must focus on in this environment by looking back at a successful transaction made during the pandemic.
The Paycheck Protection Program has been top of mind for many lenders, particularly banks. ABF Journal learned about the experience of bank-owned asset-based lending groups with the program as well as expectations and concerns for the future in conversations with four leaders in the industry.
Asset-based lenders can reduce costs, improve efficiencies and maximize prospects during these uncertain times and beyond by automating routine, rule-based processes. However, automation can often be difficult to implement, which makes Robotic Process Automation-as-a-Service an attractive means to enhance efficiency and better serve borrowers.
SG Credit Partners was once a single product division of Super G Capital, but in 2018, Marc Cole and Charlie Perer decided to branch out by co-founding SG Credit Partners. Since then the company has expanded its product offerings, brought in a bevy of new talent and used an infusion of capital from Cynosure, 4612 Group and MidMark to position itself for further growth.
A new entrant joined the private business credit world in June, as wealth management and financial technology firm Yieldstreet launched its newest vertical. With long-time business partners Barbara Anderson and Larry Curran forming the core of the new group, Yieldstreet Private Business Credit aims to grow right alongside its borrowers and investors.
Digital supply chain finance programs are opening new pathways for lenders looking to support small- to medium-sized enterprises, which have been hit hardest by the COVID-19 pandemic. These resources will help provide liquidity now and should continue to be useful in the future.