COVER STORY
Ready to Lend: 2017 ABL Activity Off to a Good Start - Rumors of tax cuts and promises of interest rate hikes swirled in the winds of uncertainty as Q1/17 ended. ABF Journal contributor Lisa Miller interviewed a group of leading ABL executives, who are already enjoying a better year than 2016 and are predicting changes ahead for the ABL market whichever way the economy shifts.
FEATURES
Sweet Relief for the Middle Market: Monroe Credit Advisors Navigate the Credit Markets - Although the economy has slowly recovered since the Great Recession, many traditional lenders are still wary of lending to the middle market. Monroe Credit Advisors’ Brent Krambeck and Linda Crothers discuss their team’s mission of pairing middle market companies with the lenders that will help them achieve their goals. While Monroe Credit initially focused on borrowers seeking debt capital solutions, the firm soon expanded the practice to include lease and capital equipment finance advisory and placement services.
Establishing a Capital Partnership: Benefits to Your Company and Your Clients - There comes a time when a successful ABL lender must decide on the next step to promote the company’s growth. Gerald Joseph and Jennifer Palmer explain how Gerber Finance chose to partner with a financing firm and provide suggestions for other companies facing similar situations.
The Jevic Case: High Court Rejects Deviations to Chapter 11 Structured Dismissals - In March, the U.S. Supreme Court overruled the decision of three lower courts by determining the Bankruptcy Code does not permit “priority skipping” in Chapter 11 structured cases. Kurt Mayr and Shannon Wolf examine the pivotal Czyzewski v. Jevic Holding case and explain the implications for future structured dismissals in Chapter 11 cases.
White Oak Branches Out: Capital Business Credit Joins the Group and Rebrands as White Oak Commercial Finance - White Oak Global Advisors was seeking to expand its term loan lending business. So in December, the company acquired Capital Business Credit, a capital lender with ABL and factoring platforms. CBC was recently rebranded as White Oak Commercial Finance, and its executive chairman, Andrew Tananbaum, is ready to go to market.
TURNAROUND CORNER
Creating Brand Relevancy: Wooing Millennials, Personalizing Service to Turnaround Casual Dining Chains - For more than a decade, casual dining chains like Applebee’s and Ruby Tuesday thrived, catering to baby boomers and their families. Now, a different sort of customer has emerged, and CD restaurants are struggling to maintain brand relevancy. Nishant Machado offers suggestions for CD management, lenders and turnaround pros serving the industry.
SPECIALTY LENDING
Focus on Factoring: Embracing the Buyer as Part of the Factoring Threesome - A factoring relationship includes three parties: the factor, the seller and the buyer. Although the buyer’s participation is critical to ensure a smooth transaction, they are usually not consulted or informed about the factoring process. As a result, many companies have a negative view of factoring. Anne MacRae discusses a survey that presents the buyer’s point of view and offers suggestions to repair a rocky relationship.
LEGAL LINES
The Priority of Federal Tax Liens; A Commercial Lender’s Perspective - People often assume that federal law takes precedence over state law, and, in many cases, it does. However, when it comes to perfecting securities under the UCC, federal law preserves the priorities established by states. Stephen Brodie and Tzvi Weisz examine the interplay between security interests under the UCC and federal tax liens.
FINAL CUT
High Court Rejects Deviations in Structured Dismissals - Former employees of Jevic Transportation appealed to the Supreme Court after three lower courts approved a structured dismissal of the company bankruptcy that cut them off from a financial settlement. ABF Journal illustrator Jerry Gonzalez shares their frustration in FinalCut.