according to the recent
loan volume report from
the Philadelphia District of
the SBA for F Y 2011.
Navitas Closes $22MM
Led by BlueMountain
Navitas Lease closed a
$22 million Series B
preferred stock investment
led by BlueMountain
Capital Management,
which participated in
this investment through
funds it manages. This
transaction provides
Navitas with substantial
financial resources and a
strong financial partner to
support its rapid growth.
The company’s existing
Series A investors,
Noro-Moseley Partners, Croft
and Bender and Lunsford
Capital also participated in
the Series B investment.
transportation CFOs are
less optimistic about
the U.S. economy and
the global economy,
but they’re relatively
upbeat when in comes
to the state of their own
industry, with 71% of
those responding saying
they believe that business
conditions will improve in
2011 versus 2010.
all domestic lending
segments decreased
by 51 percentage
points in comparison
to last quarter’s survey.
Respondents indicated
that, on average for
all domestic lending
categories, only 22%
expect increased loan
demand (versus 56% in
the prior quarter).
to suppliers of U.S.
exporters, particularly
small- and medium-sized
enterprises. GE Capital
joins Citibank and JP
Morgan in participating
in the program.
estate and lines of credit,
selected Seritus-CoS from
Seritus Solutions as its
credit origination software
provider to further
streamline operations.
GE Capital Healthcare
Closes $20MM for CryoLife
CryoLife, a tissue
processing and medical
device company focused
on cardiac and vascular
surgery, entered into
a credit facility with
GE Capital Healthcare
Financial Services for up
to $20 million in revolving
credit for working capital,
acquisitions and other
corporate purposes.
Boston Financial Closes
Two Equipment Financings
Boston Financial & Equity
closed transactions
for two early-stage
companies. The most
recent closing was a
four-year-old company
based in Illinois
that manufactures a
unique touchscreen
for commercial use in
the appliance, medical
and industrial markets.
BFEC provided it with
a $250,000 equipment
lease line for additional
test and manufacturing
equipment. Prior to that,
BFEC closed a $100,000
equipment lease for an
angel backed startup
company in Florida still
in R&D.
United Provides $2MM to
Dunkin’ Donuts Owner
United Capital Business
Lending provided $2
million in financing to
Dunkin’ Donuts owner,
Raguveer. United Capital
is funding a multi-unit
development line for
future expansion and
will also refinance some
of the Maryland-based
operator’s existing Dunkin’
Donuts stores.
logistics services to its
select group of approved
service providers.
EquipmentEngine is
a portfolio services
company serving to
simplify commercial
repossession and
recovery efforts.
Martin Guitars Selects GE
for Customer Financing
GE Capital Retail Finance
entered a new multi-year
agreement to provide
customer financing
through C.F. Martin’s
authorized dealers
nationwide. GE will back
a program offered by the
National Association of
Music Merchants card.
GE Fleet Identifies $68MM
in Q3 Customer Savings
GE Capital Fleet Services
identified $68 million
of cost savings for
customers in Q3/11. In
the first three quarters of
2011, GE Capital Fleet
Services identified more
than $191 million in
customer cost savings.
GE Provides $25MM to
Raising Cane’s Restaurants
GE Capital, Franchise
Finance provided Raising
Cane’s Chicken Fingers a
$25 million revolving line
of credit, refinancing the
company’s existing facility
and amending a $21.6
million term loan. Funding
was provided through GE
Capital’s bank affiliate, GE
Capital Financial.
IronPlanet Adds
EquipmentEngine
as Provider
IronPlanet, an online
marketplace for used
heavy equipment, added
EquipmentEngine’s
Continental Selects
Seritus-CoS Software
Continental Bank, a
provider of financing to
small- to medium-sized
businesses, with a focus
on equipment, real
Hudson’s Element
Financial Raises $175MM
Element Financial
completed a $175 million
private placement of
subscription receipts. The
proceeds of the offering
will be used to support
Element’s acquisition
growth strategy and to
fund new receivables.
We lease to credits.
upside down
Nexcap Finance Selects
Lease Wave From Odessa
Nexcap Finance, a
provider of financing
to small businesses,
middle-market companies
and large corporate
and government
clients, selected
Odessa Technologies
and its LeaseWave
software product to
further automate and
administer its office lease
management processes.
LEAF Securitizes $105MM
of Leasing Assets
LEAF Commercial
Capital closed a new
securitization transaction,
LEAF 2011-2, on October
28, 2011. With the
completion of LEAF
2011-2, LEAF securitized
approximately $105
million of leases, term
funded by the issuance
of contract backed notes.
The transaction is the first
securitization of small-ticket equipment loans
and leases sponsored
by LEAF. The loans and
leases were originated
by LEAF and are backed
by various equipment
including office equipment
such as copiers, as
well as, technology,
telecommunications and
industrial equipment.
Survey Shows
Transportation CFOs
Largely Upbeat
GE Capital released its
U.S. Mid-Market CFO
Survey, which polled CFOs
across seven different
industries, including
trucking companies.
The survey showed that
Survey: Lenders Predict
Trouble Ahead
Results of the Q/3
Phoenix Management
“Lending Climate in
America” Survey signal
that lenders’ expectations
regarding major economic
and lending indicators
declined as compared
with the previous quarter.
The overall index for
PayNet: Small Business
Borrowing Rises
PayNet said that the
growth of borrowing
among small U.S.
businesses moderated in
September 2011, but the
overall level still registered
a 14th monthly double-digit increase in a fresh
sign the economy is set to
grow at a stable pace. The
Thomson Reuters/PayNet
Small Business Lending
Index, which measures
the overall volume of
financing to U.S. small
businesses, rose 14%,
after increasing a revised
18% in August.
GE Capital Joins Ex-Im’s
Supply Chain Program
GE Capital will participate
in Ex-Im Bank’s Supply-Chain Finance Guarantee
Program, which provides
competitively priced
working capital financing
We see them as right side up!
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