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Jan
10
2019
The Company: Privately owned portfolio of commercial and residential real estate. Total portfolio value: $300 million. The Financing Situation: Successful retail entrepreneur diversified his wealth into real estate. While the Company was in the process of selling several large commercial real estate properties in California for liquidity, there was a working capital need to cover operatin...
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Jan
08
2019
Link to article here. Business Development Companies (BDCs) and private credit funds are transforming the asset-based lending (ABL) industry at every level – from Apollo via MidCap Financial and Ares at the high-end, to Solar via North Mill and Hercules via Gibraltar at the low-end. It’s no accident this is happening as this has been part competitive response and part growth strategy to com...
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Nov
19
2018
Link to article here. A virus of acquisitions has enabled national and super-regional banks to bulk up over the last decade. Their smaller cousins — community banks — are often dismissed as warehouses for customer deposits and little more. Charlie Perer points out that when community banks acquire some some specialty lending platforms and pair them with deep hometown relationships, they can...
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Oct
26
2018
Link to article here. During the Great Recession in 2008 senior bank executives started to become keenly aware of portfolio risks associated with small business credits typically defined as facility sizes less than $20 million. These are the business banking clients throughout the country that are family or entrepreneur owned with no private equity backstop. The majority of these clients have t...
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Oct
24
2018
The Company: Privately owned wholesaler of licensed toys, collectibles, and housewares. Revenue: $22mm | EBITDA: $2.8mm The Financing Situation: The Company needed additional working capital to purchase inventory in advance of the holiday busy season. The Company has a flexible asset-based credit facility from FSW Funding (“FSW”), however, given the seasonality of revenue, the Company’...
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Oct
18
2018
The Company: Producer of machined and fabricated components and parts for original equipment manufacturers in the agriculture, construction, mining, and oil & gas industries. The Financing Situation: The Company was seeking additional working capital to create availability on its line of credit and fund growth initiatives. The Company’s asset based lender, North Mill Capital (“Nor...
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Sep
24
2018
The Company: Venture-backed SaaS provider for content management and digital publishing. Revenue: $8mm | Equity Raised: $22mm The Financing Situation: The Company was placed in the Bank’s special assets division due to a covenant violation. Although the Company continued to perform, the Bank wanted to exit the credit. Super G was brought in to offboard the client and provide additional wor...
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Aug
07
2018
Link to article here. Portfolio management has become the most dynamic position in the asset-based lending industry. It is also the most powerful position in ABL because it comes with the power of the red-button: liquidation. The complexity of this position went from the equivalent of a two-lane road to a six-lane highway in just a matter of years. The demands and responsibilities on portfolio ...
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Jul
20
2018
Link to article here VARs and MSPs need to know where to go for capital to expand their businesses or risk missing new market opportunities. What channel partner doesn’t have profit and growth on their vision board? Many do, but few understand how to realize expanding and building their business. Most importantly, they often don’t know where to go for capital. Jeffrey Kaplan, managing dir...
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Jun
12
2018
The Company: Privately owned manufacturer of premium artisanal Greek yogurt, handmade from a proprietary family recipe. Financial Profile: Revenue: $21MM | EBITDA: $2MM The Financing Situation: The Company had engaged a middle market investment bank to secure a large round of growth equity capital. During this process, the Company required additional working capital to help complete the ...
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