Dec 18, 2024 · Siena Lending Group announced that after highly distinguished careers within the commercial finance industry, Chief Executive Officer (CEO) Dave Grende and Chief Risk Officer (CRO) Steven Sanicola will retire effective February 16, 2025.Both Grende and Sanicola will remain active in Siena’s business, taking on the role of Senior Advisors. Scott Elliotto, who is President of Siena and ...

Jan 2, 2025 · SouthState Corporation announced the closing of its acquisition of Independent Bank Group on Jan. 1, 2025, through the merger of Independent Financial with and into SouthState. Immediately after the merger, also on Jan. 1, 2024, Independent Financial’s subsidiary bank, Independent Bank, merged with and into SouthState Bank. As a result of these...

The Container Store Cleared to Exit Bankruptcy in Take-Private Deal, Bloomberg Bloomberg reported The Container Store won court approval to exit bankruptcy after filing Chapter 11 in late December 2024 and to enact a lender-backed plan to cut its debt and provide the retailer with fresh capital.According the the Bloomberg report, Judge Alfredo Perez in Texas said Friday he’d...

Dec 23, 2024 · The Container Store Group, the nation’s leading retailer of organizing solutions, custom spaces, and in-home services, announced it will implement a recapitalization transaction to bolster its financial position, fuel growth initiatives, and drive enhanced long-term profitability. To effectuate the transaction, The Container Store and certain of...

Nov 14, 2024 · Equify Financial announced the launch of its new division offering receivables lending and ABL capital solutions serving a variety of industry sectors. This new division is officially named Equify Business Funding.The expansion demonstrates Equify’s ongoing commitment to providing innovative financial products that empower businesses to optimize their cash flow and drive growth.

2 days ago · Asset Based Lending Deal: he initial maturity date of the new credit facility is January 22, 2028, and it includes a one-year extension at RMR’s option, subject to payment of extension fees and satisfaction of other customary conditions. Amounts drawn under the new credit facility bear interest at a variable rate based on SOFR plus a margin of 2.25% per annum.

Nov 20, 2024 · BOK Financial hired Terry McKinney as Senior Vice President and ABL Portfolio Manager in asset-based lending. McKinney brings more than 25 years of experience in portfolio management and lending. “We’re thrilled to have Terry join our team,” said Ryan Birnel, director of Asset Based Lending at BOK Financial. “His deep experience, strong leadership...

Dec 20, 2024 · The Commercial Finance division of Pathward announced a $15 million asset-based revolving line of credit to a transportation parts distributor headquartered in Virginia. The company needed a lender that could provide an increase in liquidity and stability, as they continue to grow. Pathward also announced the closing of a $20 million asset-based...

Jan 7, 2025 · Mesirow, an independent, employee-owned financial services firm, has acquired Bastion Management, an asset-backed specialty finance lender.The acquisition closed on December 31, 2024. Founded in 2013 and based in Stamford, CT, Bastion is a private credit manager that focuses on the asset-backed specialty finance space, lending to the lower middle market across sectors and geographies and ...

Oct 23, 2024 · MidFirst Business Credit, a subsidiary of MidFirst Bank, the largest privately owned bank in the nation, appointed John Nooney as President.Dennis Schlesner, former President of MidFirst Business Credit, retired on October 1, 2024. Nooney brings over 30 years of experience in commercial finance working with portfolio, origination, operations and administrative responsibilities for national ...