HireQuest, a national franchisor of on-demand, temporary and commercial staffing services, closed a $63.2 million credit facility comprised of a $60 million revolving credit facility and a $3.2 million term loan with Truist (formerly BB&T), the company’s existing lender.
Truist Securities acted as lead arranger with Truist Bank serving as administrative agent for a senior secured revolving credit facility totaling $125 million for REPAY.
Sean Link joined Touchstone Bankshares as the company’s chief lending officer. Link most recently served as senior vice president of commercial banking at Truist in Richmond, VA.
The Secured Finance Network’s 76th Annual Convention, “This Way Forward,” will take place from Nov. 17 to 19 and will cover financial, economic and political disruptions that banks and finance companies face in the midst of a pandemic and the aftermath of the U.S. election.
Truist Financial launched Truist Ventures, a corporate venture capital division, and appointed Vanessa Indriolo Vreeland, an executive with more than 20 years of private equity, venture capital and banking experience, to lead the new venture.
Purple Innovation executed a new five-year $100 million senior secured credit facility, consisting of a $45 million term loan and a $55 million revolving line of credit, with a group of financial institutions led by KeyBanc Capital Markets.
Bank of America, JP Morgan and Truist completed an amendment to Sally Beauty’s existing secured asset-based revolving line of credit, increasing the borrowing capacity by $120 million to $620 million.
Truist served as administrative agent on an increase from $705 million to $740 million for the revolving credit facility of Main Street Capital, according to a related 8K filed with the SEC.
Truist Financial committed $1 million each to community development financial institutions LiftFund and Natural Capital Investment Fund to support small businesses affected by the COVID-19 pandemic.