Great Elm Capital launched Great Elm Healthcare Finance (GEHF) with an affiliate of Berkadia Commercial Mortgage. Led by healthcare finance veteran, Michael Gervais, GEHF will also be supported by Great Elm Specialty Finance’s existing infrastructure.
Lenders Funding announced chief operating officer and chief credit officer, Harvey Friedman, will be retiring after leading its credit operations and overall administration for 18 years. John Benkovich will join Lenders Funding as its chief operating officer and chief credit officer.
Prestige Capital led a syndicate of finance companies in increasing a West Coast staffing company’s credit line from $24 million to $100 million. The syndicate included Rosenthal & Rosenthal, Lenders Funding, Sterling Commercial Credit and Great Elm Capital.
Great Elm Capital launched Great Elm Utica, a joint venture between Great Elm Capital and Utica Leaseco, to co-invest in proprietary equipment financing transactions sourced by Utica Leaseco.
Great Elm Capital, a business development company, acquired a majority equity interest in Sterling Commercial Credit, an asset-based lender.
Great Elm Capital acquired 80% of the outstanding equity interests in Prestige Capital from PCC’s retiring founder, Harvey Kaminski.
RiceBran Technologies, which develops products derived from rice bran, received an extension on its senior secured term notes and revolving line of credit with Great Elm Capital due to mature on December 31, 2016.