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Class Is In Session… CIT Goes Back to School, Launches Factoring University

Although factoring has been around for centuries, Jonathan Lucas, president of CIT Trade Finance, and his colleagues found themselves discouraged by the lack of accurate information about this longtime financial service. Determined to raise awareness and educate business owners on factoring, CIT launched Factoring University as a comprehensive, yet accessible, online resource.

September 1, 2012 ABF Journal

Asset-Based Lending Heats Up in the Midwest

Traditionally, the Midwest, with its concentration of privately held manufacturing and distribution companies, has been fertile ground for middle-market asset-based lenders. Today, the ABL market in the region is heating up due to hungry new competitors and existing lenders expanding their reach. For companies looking to increase their borrowing needs, the market is wide open. And for lenders, the challenge is to grow while maintaining appropriately priced and structured asset-based loans.

September 1, 2012 ABF Journal

‘A Tale of Two Economies:’ Alternative Financing to the Rescue

When Charles Dickens wrote, “It was the best of times, it was the worst of times,” he might as well have been writing about the current economic climate. An era of uncertainty began after the 2008 crisis, and while certain industries have blossomed, many industries continue struggle through these economic changes. Increased bank regulation and the tightening of credit have severely impacted the traditional financing avenues and the borrower’s ability to secure traditional financing.

September 1, 2012 ABF Journal

Structural Shifts — New Realities in Field Examinations

The challenges facing the field examination industry will create opportunities for some and potential failure to others. Opportunities will come for those that can adapt and maintain high standards for quality and communication while growing responsibly. Lender’s Consulting Group’s Paul Epstein and John Dendrinos discuss the changes they’ve seen, what lies ahead and how to stay in pace with the structural shifts to avoid failure along the way.

August 1, 2012 ABF Journal

Quite to the Contrary … There is a Supreme Right to Credit Bid

In the April 2010 ABF Journal article, “In re Philadelphia Newspapers, LLC: The Not-So-Secured Right to Credit Bid,” Jeffrey Wurst discussed the Third Circuit’s decision that in a sale of assets under a plan of reorganization, a secured lender did not have the right to credit bid. Since then, the Seventh Circuit allowed the secured creditor to credit bid. The resulting U.S. Supreme Court decision in RadLAX held that a sale of assets under a plan cannot prevent a secured creditor from credit bidding.

August 1, 2012 | ABF Journal

New Challenges (and Solutions) for Managing Working Capital By Nic Perkin

These days businesses reliant on bank financing may be faced with some major challenges when trying to refinance outstanding debt, finance working capital needs and pursue growth opportunities. This article looks at why some businesses are finding bank financing unattainable, and even undesirable, and why many are turning to alternative financing options.

August 1, 2012 | ABF Journal

Flexibility, Flexibility, Flexibility ABL, Factoring Software Must Be Tailored to Both Borrows & Lenders’ Needs

Opportunities are there for those with the tools and talent to seek them out. Even with the additional requirements placed on lenders by regulators and auditors both the factoring and asset-based lending industries have experienced growth in recent years. William Stucky & Associates’ Roseanne Doyle discusses the software requirements and flexibility needed to ensure success for both lenders and borrowers.

August 1, 2012 ABF Journal

Beyond Traditional Restructuring… Gavin/Solmonese Join Forces to Fulfill a Shared Vision

Last April, the commercial finance industry learned that the venerable turnaround firm of NHB Advisors had been acquired by a newly formed corporate consulting firm bearing the name Gavin/Solmonese. While acquisitions of turnaround firms either in whole or in part have made industry headlines regularly this year — indeed, Deloitte acquired CRG Partners and CVC Capital Partners took a majority stake in AlixPartners — this announcement was a bit unique.

August 1, 2012 | | ABF Journal