For many years, letters of credit have been used to facilitate sales of goods and to provide credit enhancement for all kinds of contractual obligations. Despite the widespread use of letters of credit over the years, many view letters of credit as complicated and esoteric instruments.
When in comes to your commercial finance software system, are you like the guy down the street who’s trying to squeeze five more years out of a clunker that’s held together with the technological equivalents of spit, glue and coat hangers? If so, the following article is a high-level overview of what it takes to pick out a sleeker model.
*Urban Dictionary defines a hoopty as any car that meets certain characteristics, including but not limited to requiring the driver to enter through the passenger side; requiring half a clothes hanger to hold up the exhaust pipe and the other half to serve as an antenna; and/or requiring the manual up and down movement of the turn signal to signify the driver’s intention to turn. (Variant spellings: hooptie, hoopdie, hoopdy. See also: clunker, jalopy)
ABF Journal illustrator, Jerry Gonzalez’ visual interpretation of a top-ranked abfjournal.com news story according to our visitors.
This article highlights certain legal and practical issues related to making secured bridge loans to emerging companies. In particular, this article focuses on issues related to subordination of VC-provided bridge loans to existing and future senior debt and to appropriately structuring security agreements.
Recent court decisions may have seriously eroded secured creditors’ rights. In this two-part article, a leading restructuring attorney has teamed up with a well-known turnaround professional to describe in Part I new challenges facing lenders, and in Part II to suggest strategies and tactics to help lenders protect themselves.
A letter from William F. Plein, Past Chairman, Commercial Finance Association
In the panic-ridden days following the 2008 financial meltdown, the threatened companies that fared the best were most often those that communicated whatever hard facts they had at hand … even if incomplete or unflattering. When a company’s survival is at stake, honest intentions and even a small amount of clarity can go a long way.
In this issue, we explore the “new” world of Wells Fargo Capital Finance in a roundtable discussion with seven of its senior-most executives. Here we learn how the acquisition of the former Wachovia Capital Finance group has resulted in an ABL powerhouse that’s certain to prove the whole can indeed be greater than the sum of its parts.
Given the long list of costly, contentious and ultimately unsuccessful retail bankruptcies, much attention has been given to the particulars surrounding Filene’s Basement’s Chapter 11 proceedings that culminated with a §363 sale to Syms Corp. What follows is a behind-the-scenes look at these events that bucked a trend in more ways than one.
In late March, Cole Taylor’s Michael Sharkey participated in a panel of M&A experts at the Association for Corporate Growth’s Capital Connection in Atlanta. The panel spoke to the challenges of getting deals done in the current marketplace. We asked Sharkey to bring the essential points of this panel to ABF Journal readers.