Bank of America arranged a new five-year amended and restated credit agreement for Titan Machinery. The credit agreement provides for an aggregate $250 million financing commitment.
Air Industries Group entered into a new three-year, $19.8 million credit facility, consisting of a $16 million revolving credit line, and a $3.8 million term loan with Sterling National Bank.
Lincoln Educational Services executed a new credit agreement with its current lender, Sterling National Bank, comprised of four separate facilities providing in the aggregate $60 million.
Sterling National Bank financed a secured credit facility for a provider of software management solutions for the ground transportation industry.
Sterling Bancorp, through its principal subsidiary, Sterling National Bank, agreed to acquire the asset-based and equipment finance lending businesses of Woodforest National Bank.
Every year, ABL lenders face new challenges. Last year, people were nervous about the impact of prospective tax cuts. This year, the effect of tariffs has both borrowers and lenders shaking their heads. ABL lenders are facing increasing competition as 2019 prepares to roll in. Lisa Miller catches up with five top ABL executives who look back at 2018 and anticipate a strong year ahead.
Sterling National Bank expanded its Specialty Finance team by with the addition of new hires Sharon Bender, Dennis Phelps, Stephanie Lunn Szymanski and Andrew Schuster.