According to a survey from the Association for Corporate Growth, 62% of small and medium-sized businesses majority-owned by venture capital, private equity or other private capital providers are excluded from the Paycheck Protection Program.
The newly passed stimulus package includes plenty of provisions which will be important to lenders, especially those who have borrowers in sectors under distress during the COVID-19 pandemic. Paul H. Shur of Becker & Poliakoff walks us through the most important provisions and what they mean for lenders.
The disruptions caused by the coronavirus (COVID-19) have been far-reaching and will continue to affect all industries in the months to come. These effects are only exacerbating what were already weekening corporate foundations. Michael Fielding examines what lenders should anticipate and how they can deal with distressed debt situations during and after the pandemic.
In the third episode of ABF Journal’s COVID-19 focused podcast, Jeffrey A. Wurst said he expects an uptick in bankruptcy filings from mainstream middle market companies and a return to “old fashioned bankruptcy.”
In the second episode of ABF Journal’s podcast, Brett Hickey, founder and CEO of Star Mountain Capital, outlines how companies with locked revenues and deferred payments are being affected by the COVID-19 pandemic. In addition, he shares why bridge financing is becoming a popular structure in this environment.
CIT outlined a $1 million community commitment to support those affected by COVID-19. These resources will provide some immediate relief to New York City and L.A. County, the respective headquarters for the company and its bank subsidiary.
Only 29% of companies can continue to be fully operational with employee work restrictions in place and 57% expect to be partially operational, according to a recent survey.
Deloitte issued a financial reporting alert that discusses certain key accounting and financial reporting considerations related to conditions that may result from the COVID-19 pandemic.
Hilco Global issued a series of strategic recommendations to assist lenders with current portfolio exposure in the retail market to take action during the near-term fallout of the current COVID-19 pandemic.
In the first podcast of the ABF Journal series, Vince Belcastro, Group Head of Syndications at Element Fleet Management, and Chris Enbom, CEO of AP Equipment Financing and Work Truck Direct, discuss the early effects of the coronavirus on the industry, how their companies are adapting and the potential impact on various sectors and markets.