Former GE Capital Exec Joins Hitachi Capital America as SVP/CCO

April 29th, 2016
Suzanne Santos joined Hitachi Capital America (HCA) as senior vice president operations & chief credit officer responsible for leading the company’s North American Credit and Operations functions. Follow this link: Former GE Capital Exec Joins Hitachi Capital America as SVP/CCO

Wells Fargo Agents Genesis Energy Facility Upsize to $1.7B

April 29th, 2016
Genesis Energy announced an increase in total commitments under its senior secured credit facility to $1.7 billion (from $1.5 billion). Read the original here: Wells Fargo Agents Genesis Energy Facility Upsize to $1.7B
Posted under: Business businesses credit Inc

Encompass Appoints Sharp as ABL Industry Advisor

April 29th, 2016
Encompass  appointed former CEO of the Asset Based Finance Association (ABFA), Kate Sharp, as an industry advisor. Sharp will be responsible for supporting and accelerating the company’s growth as a supplier of innovative visual analytics technology to the UK’s asset based lending, factoring and invoice discounting industries. Sharp served as CEO of the Asset Based Finance Association from 2003 to 2014. Read more: Encompass Appoints Sharp as ABL Industry Advisor

GMA Funding Names Rothman CEO of GMA Factor’s Operating Units

April 29th, 2016
GMA Funding, a provider of factoring and alternative commercial finance services, announced the board of directors selected James Rothman as CEO of GMA Factor and its operating units GMA USA and CoreFund Capital . Rothman will be joining GMA and its family of companies to grow it into a multi-dimensional lender with assets in asset-based lending, factoring, merchant funding, real estate finance, lender finance, as well as the proprietary loan servicing platforms developed by the group. “While ABL and ...

Silicon Valley Bank Provides $25MM Term Loan for ArtiCure

April 29th, 2016
AtriCure entered into an amended and restated term loan and revolving line of credit agreement with Silicon Valley Bank , providing access to a new $25 million five-year term loan, as well as renewing a $15 million revolving line of credit. “We are pleased to have Silicon Valley Bank as a partner,” said Andy Wade, senior vice president and chief financial officer of AtriCure Read more: Silicon Valley Bank Provides $25MM Term Loan for ArtiCure

Wells Fargo Leads VOXX $155MM Refi

April 28th, 2016
VOXX International has entered into an amended $140 million credit facility with a $15 million sublimit for letters of credit and the right to increase the maximum revolver amount to $175 million. Wells Fargo is the lead bank, with Key Bank, Citibank and HSBC USA participating in this combined $155 million refinancing. Pat Lavelle, president and CEO of VOXX International said, “This new financing increases our borrowing capacity and extends our debt maturities, providing us with sufficient resources to ...