Bank of America Business Capital named three new region marketing managers: Bobby Bans in the western region; Peter Langburd in the eastern region; and Steve Pomerantz in the central region.
Troubled trucking group Celadon will refinance its existing credit agreement, including a new $100 million revolving credit facility provided by Bank of America Business Capital and Wells Fargo Capital Finance.
Karen Sessions attributes her success in the finance world to refusing to take “no” for an answer. Her career took her to Fleet, Union, Wachovia and Wells Fargo banks before she landed at Bank of America almost five years ago. In November, she was named head of Bank of America Business Capital and Asset-Based Lending. Although she contends she was lucky, her business skills and determination to succeed have propelled her into her current role.
Bank of America Business Capital provided an $800 million asset-based revolving credit facility to R.R. Donnelley & Sons Company. Proceeds were used to refinance an existing credit facility and to provide ongoing working capital financing to support the company’s ongoing expansion.
Karen Sessions has been named president of Bank of America Business Capital, succeeding Jeff McLane, who was named U.S. Regional Commercial Credit Executive at Bank of America Merrill Lynch.
Despite political turbulence and Mother Nature running amuck, ABL lenders saw an upswing in business in 2017 after two flat years. ABF Journal contributor Lisa Miller spoke with five ABL executives who described a robust year filled with new partnerships and business opportunities and an optimistic outlook for 2018.
Bank of America Business Capital has provided a $40 million asset-based revolving credit facility to Bridgewater Interiors, a supplier of seating and overhead systems to automotive OEM customers.
Bank of America Business Capital provided an asset-based revolving credit facility to Thalheimer Brothers, a portfolio company of Audax Group.
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.