When it comes to preserving lending relationships or finding new ones, all lenders need and want every tool available. One lesser-known tool used in times if distress is the Article 9 reorganization or sale, which can save a struggling business and help lenders recoup value and access new financing opportunities.
The Secured Finance Network (SFNet) added to its executive and management committees for fiscal year 2022. These leaders guide the association, make policy decisions, confirm new members and provide thought leadership in advocacy and education.
Gerber Finance closed a $7.5 million line of credit for Pact, a maker of sustainable, certified organic cotton clothing. Gerber Finance closed the deal under its Naturally Gerber division.
Gerber Finance provided a $10 million line of credit to NorthCape International, a manufacturer and wholesale distributor of outdoor furniture.
Gerber Finance provided a $5 million line of credit to Honey Stinger, a maker of sports nutrition products for athletes. The deal was structured based on e-commerce and intellectual property and completed under the Naturally Gerber Finance division.
Gerber Finance closed a $5 million line of credit to French Transit, parent company of MyChelle Dermaceuticals, Crystal Deodorant and Luster Premium White. The new funding will support the expansion of French Transit’s health and skincare portfolio.
Gerber Finance opened a new office in Ontario and appointed Karim Habib managing director of business lending for Canada. The expansion marks Gerber’s first office in Canada, where it will now provide its asset-based lending solutions to consumer-packaged goods companies.
Gerber Finance closed a $6 million line of credit to Puracy, a plant-based personal care and cleaning products company. The deal was managed under the Naturally Gerber Finance division.
For its next monthly livestream event of 2021, ABF Journal will gather a panel of experts from Gerber Finance, Marco Financial and PNC Business Credit to discuss the evolving art of business development on April 29 at 3 p.m. EST.
In 2020, eCapital provided access to more than $4 billion in financing across 80 industries in the U.S. and Canada and also achieved an approximate 66.5% year-over-year increase in gross revenues and an approximate 56% year-over-year increase in portfolio size.