Pathway Capital closed a $3.5 million non-notification factoring facility for a startup specialty hauling company based outside of Houston and a $7 million senior secured revolving credit facility to a regional trucking and warehousing company in New Jersey.
Versant Funding funded a $4 million non-recourse factoring facility for an aerospace machining and engineering company. The facility enabled the company to pay off an asset-based lender while also providing liquidity to meet pent-up demand.
eCapital Commercial Finance, a division of eCapital, provided a $1.5 million debtor-in-possession factoring facility to an industrial LED lighting company in Chapter 11 bankruptcy.
eCapital Commercial Finance, a division of eCapital, has delivered more than $10 million in additional funding to clients with existing factoring facilities during the COVID-19 pandemic to help them meet demand for products and services.
Rosenthal & Rosenthal completed a purchase order finance facility to support the production financing requirements of a Florida-based, minority-owned government contractor.
Versant Funding recently closed a non-recourse factoring facility totaling $3.6 million for a candy business that sells through retailers and its own online store.
Accord Financial named Barrett Carlson senior vice president of corporate development and Eric Starr senior vice president of program operations and risk.
According to a survey from the Secured Finance Network, the factoring industry saw only minor changes in the 2018-2019 time period, except for a significant increase in credit losses, most likely attributable to the competitive environment through 2019.