Eastern Bank’s recent growth has led to its launch of an asset-based lending unit, headed by Robert Barnhard as team leader. Drawing upon experience gained at RBS Citizens, LaSalle Bank, IBJ Schroder and Gordon Brothers Finance, Barnhard has just the level of expertise the bank needs to become a go-to asset-based lender.
Inez Markovich gives readers an overview on the OCC’s recently issued handbook on asset-based lending. She notes that financial institutions pursuing ABL transactions need to keep abreast of the current examination principles and, if necessary, strengthen internal procedures designed to improve the risk management of their ABL portfolios.
Rosenberg and Fecci Consulting’s Steven M. Rosenberg spoke with Joe Amorin, a seasoned field examination manager who retired from his post at JPMorgan Chase in 2011, to gain insight into the field exam profession, how it benefits lenders and borrowers, and how it has evolved for the better over the years.
According to a recent KPMG LLP survey, banks may be lending less, but alternative entities are lending more. These alternative sources of capital include hedge funds, business development companies, credit opportunity funds and the resurgence of collateralized loan obligations.
Siena Lending Group employs a dual-prong model combining a traditional ABL balance sheet business with a customized servicing platform tailored for community banks. This enables a company that is seeking a financial solution to tap into the broader community banking universe along Siena, which has resulted in origination growth for both the bank and Siena.
The ABF Journal recently invited Ward Mooney, chief executive officer of Crystal Financial, to engage in a Q&A to provide our readers with some additional background into his one-year relationship with Solar Capital Ltd., while gaining insights into the current environment, the asset-based capital markets and what’s in store for 2014.
Regular ABF Journal contributor Lisa Miller spoke with five ABL leaders to get their take on the outlook for ABL in 2014. All agree the environment continues to be impacted by excess liquidity and the challenge of finding new money opportunities; however, there is general agreement that clear signs of improvement are emerging.
When Tully’s Coffee found itself in a serious liquidity crisis and facing Chapter 11 bankruptcy, Deloitte CRG stepped in to secure a merchant cash advance. The authors provide insights into why this financing solution can be a perfect fit for any restaurant or retailer that lacks hard assets but has high credit card volume.
Rocco I. Debitetto, partner at Hahn Loeser & Parks, lays out some of the legal pitfalls associated with financing the marijuana industry and how this new area of lending’s collision with bankruptcy raises more questions than answers.
Two Wells Fargo Capital Finance Healthcare Finance insiders explain why lending to the massive healthcare sector presents extraordinary opportunity and risk, and is best managed by an experienced team that is not only knowledgeable about the industry, but also an active industry participant.