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.
Derrick Wong of Pacific Premier Bank spoke with Rey Abundo of Great Rock Capital and Orrin Belden of Celtic Capital about how the asset-based lending community in California is holding up during the COVID-19 pandemic, providing a potential bellwether for the industry at large.
Asset-based lending can be an attractive business, but not every organization is built for it. Charlie Perer of SG Credit Partners outlines why some community banks were quick to seek ABL out and just as quick to exit the space.
Encina Business Credit provided a $35 million senior secured credit facility to a retailer and distributor of paint and paint supplies.
Navigating the waters of specialty lending can be a challenge for lenders not familiar with industries like education, staffing or cannabis. Debt advisors provide expertise in those areas and can broker deals, acting as matchmakers between borrowers and lenders. Hugh Larratt Smith takes a look at this rising industry and explains the value debt advisors can bring to specialty lending.
Citizens Commercial is the sole lead arranger in providing a $24.5 million credit facility to Nixon, a designer, marketer and distributor of watches, clothing and accessories.
Ares Commercial Finance provided a $30 million secured revolving line of credit to Cornerstone Research & Development, d/b/a Capstone Nutrition. The proceeds were used to refinance the company’s existing debt and support working capital.
Deep in the heart of Texas, the ABL world is heating up. Despite reports that the landscape is flat and banks have become reluctant bedfellows, Chris Capriotti and two members from the JPMorgan ABL team moved to Texas Capital Bank recently to ramp up its ABL division and transform a regional bank into a national player.
Hitachi Business Finance has released an infographic that explains the basics of asset-based lending and how it can improve a company’s cash flow.
Over the course of his 35-year career, TD Bank Executive Vice President and Head of Asset-Based Lending Joseph Nemia has worked at some of the most storied companies in the business — Chase Manhattan, CIT and GE Commercial Finance, among others. He shares his perspective on today’s ABL world and offers a look back at the days when interest rates spiked at 20% and inflation ran wild.