Acquiring the Polish of Sterling Michael Haddad Moves ABL Team, Looks Forward to ‘Red Hot’ Year - As part of an ongoing expansion in services and marketing territory, Sterling Bank purchased Dallas-based NewStar Business Credit in March, acquiring its president, Michael Haddad and the other team members along with NSBC’s financial assets and clients. ABF Journal spoke with Haddad and Sterling Specialty Lending Division President Ted Geisel about the impact the merger will have on the unit and their outlook on ABL lending in 2016.
Rebounding From a Slow Start: ABL Lenders Look Ahead to a Strong Finish in 2016 - ABF Journal contributor Lisa Miller spoke with five leading ABL lenders about the current landscape. After a lackluster 2015 and a slow start in 2016, they share their thoughts on changes in the economy and challenges that ABL lenders face. They look into their collective crystal ball, predicting a stronger second half for 2016.
Asset-Based Lenders and The Big Chill: The Collapse of Energy Prices - From Texas wildcatters to Oklahoma riots, the energy business has a colorful and lucrative history reaching back 100 years. Today the rise and fall of energy prices has a global impact. Hugh Larratt-Smith speaks with ABL lenders from the U.S. and abroad to provide a perspective on how ABLs will fare as market volatility continues.
Villanova 2016: Where Judges, ABL Lenders and Turnaround Pros Mingle - The 9th annual Villanova Education and Networking Conference offered ABL and turnaround professionals the opportunity to network with some of the nation’s top bankruptcy judges in a casual setting while discussing hot topics, like healthcare.
Ensuring Value at a Reasonable Cost: Five Criteria to Evaluate a Field Examination Service - Engaging an independent field examination service to evaluate collateral before making an ABL loan can protect a lender from undue exposure. Howard Rein provides guidance to help lenders obtain a cost-effective, timely and accurate field examination.
Predictor of Success Following a Turnaround: Discipline Tools Can Keep a Company Afloat After Restructuring - Completing the restructuring process is a challenge for both a company and the turnaround professional who guides it through. Yet some companies may show signs of failing a second time. Brian Gleason illustrates how using the discipline tools introduced during turnaround can keep the ship afloat, even in rough waters.
Hand-to-Hand Combat and the Need for Second Lien Financing - As credit tightens, middle market companies are being squeezed from all sides. Lenders offering short term second lien or stretch loans can work with ABL lenders to help these companies stay liquid.
What’s In a UCC Name Requirement? When to Use Specific and Generic Names - Revisions in the Unified Commercial Code have made collateral descriptions on financial statements simpler. But there are times when only specific names will do. Attorney Jeffrey Wurst explains when a generic name will suffice and when a specific name is critical to ensure a security interest.
Factoring Business Owner Charged With Lying to FBI - A New Jersey factoir reported a fraudulent client to the FBI. Instead of working with the Feds as they requested, he sold accounts to another factor. ABF Journal illustrator Jerry Gonzalez illustrates the fraud triangle.