Melinda Fricke joined Pacific Western Bank as a senior vice president and business development officer for its asset-based lending team. Fricke previously worked for Crestmark Bank, Summit Financial, Wells Fargo Business Credit, Fremont Financial Business Credit/FINOVA and First Community Financial.
Gibraltar Business Capital provided a growth-enabling credit facility to Clearon Corp., a manufacturer of chlorinated dry bleach used in an array of applications, including water treatment, disinfection and sanitization.
Huntington Business Credit acted as administrative agent and joint lead arranger in the closing of a new $250 million credit facility for Concordance Healthcare Solutions.
SG Credit Partners provided a $2.2 million senior secured facility with an interest-only period to a digital signage software-as-a-service platform.
Crestmark secured a total of $9.7 million in ABL financial solutions for four new clients and Crestmark’s government guaranteed lending group provided $38.165 million in financing for eight new clients in the second half of December.
NFI amended its existing $1.25 billion senior revolving credit facility and its £50 million ($67.6 million) revolving UK credit facility. The Bank of Nova Scotia is the administrative agent for the $1.25 billion revolver and HSBC UK is the administrative agent for the UK credit facility.
Macquarie Bank provided a senior secured term loan facility of $40 million to Canada-based gold mine developer Battle North Gold Corporation to fund the construction of the Bateman Gold Project in Red Lake, ON.
Sterling National Bank’s commercial services group provided senior secured credit facilities totaling $2.5 million to a nationwide talent management company.
Huntington Business Credit closed a new $15 million credit facility with The Miller Company, which used the proceeds of the facility to support its acquisition by Deutsche Invest Capital Partners and to provide ongoing working capital growth financing.
The quest for coast-to-coast asset-based lending shops has created an intensely competitive “frontier” in the lending environment. Charlie Perer examines this trend and concludes that hiring the right business development officer must be a top priority to succeed.