Michael A. Toglia

Commercial finance M&A was slow in 2023 due to economic uncertainty, credit quality issues and various sector and market concerns. However, notable transactions hint at potential trends, with non-bank buyers likely to dominate in 2024.

In late October of 2023, the Equipment Leasing and Finance Association (ELFA) announced a significant transition with the appointment of Leigh Lytle as President and CEO, marking her official assumption of duties on December 4, 2023. This pivotal moment marked the succession of leadership from Ralph Petta, who concluded his remarkable three-decade tenure with the association at the close of 2023. In an exclusive interview with Michael Toglia, the Publisher of Equipment Finance Advisor, Lytle… Show more

In late October of 2023, the Equipment Leasing and Finance Association (ELFA) announced a significant transition with the appointment of Leigh Lytle as President and CEO, marking her official assumption of duties on December 4, 2023. This pivotal moment marked the succession of leadership from Ralph Petta, who concluded his remarkable three-decade tenure with the association at the close of 2023. In an exclusive interview with Michael Toglia, the Publisher of Equipment Finance Advisor, Lytle discusses how her extensive professional background and life experiences have uniquely positioned her for the leadership of the Equipment Leasing and Finance Association. Lytle shares her priorities for 2024 and offers a glimpse into her personal life. Show less

Charlie Perer discusses why today’s most sought after BDO executive is a dwindling breed in the commercial lending sector and the reasons behind this evolution.

In this third installment in a series of quarterly articles, Equipment Finance Advisor discusses the Equipment Leasing & Finance Foundation’s Q4 update to the 2023 Equipment Leasing & Finance U.S. Economic Outlook with three industry leaders.

The banking sector is in a literal Catch-22 that is causing a credit crunch thereby creating opportunities for non-banks. Banks need to merge to shore up capital, but at the same time face both new regulation and long delays to potentially obtain merger approval. Charlie Perer delves into the topic and explains how a credit crunch caused by competing government priorities should result in a shift in market share to the non-banking sector.

In part two of a three-part series by The Alta Group on climate equipment finance, we cover market-entry strategy, areas of risk and emerging tax incentives. Equipment finance and leasing professionals looking to capitalize on this enormous opportunity must evolve with the industry as it becomes a bigger part of the overall equipment investment market. But embracing this new domain requires careful consideration and commitment to a strategy to identify and manage associated risks, which may… Show more

In part two of a three-part series by The Alta Group on climate equipment finance, we cover market-entry strategy, areas of risk and emerging tax incentives. Equipment finance and leasing professionals looking to capitalize on this enormous opportunity must evolve with the industry as it becomes a bigger part of the overall equipment investment market. But embracing this new domain requires careful consideration and commitment to a strategy to identify and manage associated risks, which may range from technology performance to longer tenors to regulatory constraints. Show less

Charlie Perer launches a new series featuring commercial finance leaders who cover the spectrum of lending, turnaround advising and capital raising to understand where the lending market is heading in this unique economic environment.

Tiger Group’s Bill Mayer addresses the issue of “growing shrink” in the retail sector and offers strategies for retailers and asset-based lenders to consider in their efforts to manage inventory in this risky environment.

Business Development Officers are the lifeblood of the commercial lending industry. Charlie Perer discusses the challenges of age in the industry and shares his unique insights into why seasoned BDOs continue to stay in the game given the important role they play in the commercial finance industry.

According to a recent Deloitte poll, nearly half of M&A professionals say they are likely to pursue a divestiture in the coming 12 months, and among those contemplating divestitures, roughly 40 percent of those polled say their organizations are likely to pursue 1 to 2 divestitures in the year ahead, while 7.5 percent say their organization may pursue as many as 3 to 4.

To gain and understanding of what is driving this shift in posture and its impact on both buyers and sellers in the… Show more

According to a recent Deloitte poll, nearly half of M&A professionals say they are likely to pursue a divestiture in the coming 12 months, and among those contemplating divestitures, roughly 40 percent of those polled say their organizations are likely to pursue 1 to 2 divestitures in the year ahead, while 7.5 percent say their organization may pursue as many as 3 to 4.

To gain and understanding of what is driving this shift in posture and its impact on both buyers and sellers in the market, ABL Advisor met with Brenda Ciampolillo, Managing Director, and David Oberst, Partner, both with Deloitte Risk & Financial Advisory. Show less

As the equipment finance market prepares to capitalize on this opportunity, experts Matthew Hudson, Spencer Lippman, and Chris Sweet of Houlihan Lokey provide a comprehensive analysis of the Infrastructure Bill of 2021, Inflation Reduction Act, and Chips and Science Act, and their impact on the broader sector throughout North America. Discover the pros, cons, and unknowns of these landmark initiatives and how they will shape the future of the equipment finance industry.

Charlie Perer describes how large-ticket, independent non-bank asset-based lenders may be heading into the sunset as the players – both bank and non-bank – continue to evolve.

In October 2022, Webster Bank named Abby Parsonnet as Head of Asset Based Lending for Webster Bank. ABL Advisor’s publisher Michael Toglia, met with Parsonnet in December 2022 to learn more about her vision for this group and to discuss the current state of the asset-based lending market.

People talk about competition today, but do we really think it was any less intense when GE Capital (GECC), CIT, Foothill and Finova were squaring off? Every region of ABL tells its own story, but if we really want to understand the roots of today’s ABL landscape we should all take the time to study the ABL gangs of New York in the 1990s. Many of today’s leaders in ABL developed their style, culture and lending strategy based on which gang they started in. We all must look no further than the… Show more

People talk about competition today, but do we really think it was any less intense when GE Capital (GECC), CIT, Foothill and Finova were squaring off? Every region of ABL tells its own story, but if we really want to understand the roots of today’s ABL landscape we should all take the time to study the ABL gangs of New York in the 1990s. Many of today’s leaders in ABL developed their style, culture and lending strategy based on which gang they started in. We all must look no further than the firms of 1990s to see how the junior executives of that era created and now run modern-day ABLs. Show less

On Oct. 12, 2022, the United States Court of Appeals for the Second Circuit denied a request for rehearing from a group of Revlon, Inc., lenders seeking to overturn the Second Circuit’s unanimous decision, issued on Sept. 8, 2022, requiring this syndicate group of Revlon lenders to return $500 million in funds mistakenly wired to them by Citibank, N.A.

That mistake–described by U.S. District Judge Jesse Furman of the Southern District of New York as “one of the biggest blunders in… Show more

On Oct. 12, 2022, the United States Court of Appeals for the Second Circuit denied a request for rehearing from a group of Revlon, Inc., lenders seeking to overturn the Second Circuit’s unanimous decision, issued on Sept. 8, 2022, requiring this syndicate group of Revlon lenders to return $500 million in funds mistakenly wired to them by Citibank, N.A.

That mistake–described by U.S. District Judge Jesse Furman of the Southern District of New York as “one of the biggest blunders in banking history”–took place in August 2020 when Citibank, acting as administrative agent on a $1.8 billion syndicated seven-year-term loan, inadvertently wired nearly $1 billion of its own funds, including the full amount of Revlon’s outstanding principal balance instead of the $7.8 million accrued interest payment it had intended to transfer, to a group of participating lenders. At the time, the loan was not due to mature for another three years. Read full article..... Show less

Susan Carol details the emergence of the ELFA Climate Finance Interest Group, reflecting a massive opportunity for the industry.

Lenders have been in a time loop for several years. The question is: Are they prepared to address market changes caused by the impending economic downturn?

In mid-September, Equify Financial, a privately owned, independent specialty finance company based in Fort Worth, TX announced the expansion of its equipment leasing and finance business to include the small-ticket vendor/dealer channel. To lead this business expansion, Equify named Dan Krajewski, a well-known equipment finance industry veteran to its executive team as Executive Vice President of Equify Financial, LLC. This expansion into the small-ticket vendor/dealer channel will enable… Show more

In mid-September, Equify Financial, a privately owned, independent specialty finance company based in Fort Worth, TX announced the expansion of its equipment leasing and finance business to include the small-ticket vendor/dealer channel. To lead this business expansion, Equify named Dan Krajewski, a well-known equipment finance industry veteran to its executive team as Executive Vice President of Equify Financial, LLC. This expansion into the small-ticket vendor/dealer channel will enable Equify to service a wide range of transaction sizes and credit profiles all under one unregulated financial institution.

Many in the equipment finance industry are familiar with Krajewski not only for his track record of success, but also for his dedication to the equipment finance industry. Krajewski currently serves as a Board Member and Treasurer of the Equipment Leasing & Finance Association (ELFA). He has also served as Chairman of ELFA’s Captive & Vendor Finance Steering Committee, a member of ELFA’s Independent Finance Company Steering Committee, Liaison with ELFA Lease PAC, and ELFA Industry Futures Council.

Equipment Finance Advisor met with Dan Krajewski and Patrick Hoiby, President of Equify Financial to learn why Equify is entering the small-ticket vendor/dealer channel and how this new group will leverage Equify’s current equipment finance offerings to provide creative financing options nationwide. Show less

Wells Fargo announced Amrita Patel as the new leader of Wells Fargo Equipment Finance (WFEF) in early August. She succeeded Bill Mayer, who led WFEF since 2015 and announced his retirement in June after 34 years in financial services.
Prior to taking the helm of WFEF, Patel was head of Process Transformation for Wells Fargo Commercial. After roughly sixty days on the job, Michael Toglia, publisher of Equipment Finance Advisor, sat with Patel to gain insight into the challenges and… Show more

Wells Fargo announced Amrita Patel as the new leader of Wells Fargo Equipment Finance (WFEF) in early August. She succeeded Bill Mayer, who led WFEF since 2015 and announced his retirement in June after 34 years in financial services.
Prior to taking the helm of WFEF, Patel was head of Process Transformation for Wells Fargo Commercial. After roughly sixty days on the job, Michael Toglia, publisher of Equipment Finance Advisor, sat with Patel to gain insight into the challenges and opportunities she sees for one of the nation’s leading equipment finance organizations. Show less

Huntington Asset Finance has established a highly respected position as one of the top equipment finance and asset-based lenders in the U.S. The success of Huntington’s Asset Finance platform is the result of focusing on changing customer demands while simultaneously balancing the need to meet the bank’s targeted metrics. In the following interview, Michael DiCecco, Executive Managing Director of Asset Finance, provides his insights into what is driving borrower demand and how the current… Show more

Huntington Asset Finance has established a highly respected position as one of the top equipment finance and asset-based lenders in the U.S. The success of Huntington’s Asset Finance platform is the result of focusing on changing customer demands while simultaneously balancing the need to meet the bank’s targeted metrics. In the following interview, Michael DiCecco, Executive Managing Director of Asset Finance, provides his insights into what is driving borrower demand and how the current economic environment is impacting both the asset-based lending and equipment finance sectors of commercial finance. Show less

Huntington Asset Finance’s Michael DiCecco sits with ABL Advisor’s publisher Michael Toglia, to discuss his view of the current lending environment in both the asset-based lending and equipment finance sectors.

In his latest article, Charles Perer of SG Credit Partners discusses how asset-based lending is going vertical, from an industry specialization perspective, and little can stop it. According to Charlie, the industry is in the first inning of what will surely be a double-header of industry specialization. Specialization is most likely the next driver of ABL evolution and expansion.

Merrick Benn and Alex Lowitt of Womble Bond Dickinson law firm write about how the recent economic developments have affected equipment finance and the Transportation Sector over the past three months.

Robert Katz of EisnerAmper says, "Being ruthless is a key to being a good leader. There are people who truly believe this statement."

In this interview with Ken Frieze, Chief Executive Officer of Gordon Brothers, ABL Advisor’s publisher Michael Toglia learns more about the firm’s new partnership with Canada Pension Plan Investment Board (CPP Investments), how the firm has expanded its go-to-market strategy globally to include what Frieze calls the “hat trick” of service offerings, and how the current economic environment will affect the commercial lending sector.

Wholesale and retail inventories have always been a mainstay for lenders, but with millions of businesses now selling their wares on Amazon, what are the potential implications for the ABL sector? ABL Advisor sat down with Ryan Davis, Managing Director of Tiger Valuation Services, to discuss some of the considerations involved in lending to Amazon sellers. “Inventory quality at FBA [Fulfillment by Amazon] is excellent, so there are phenomenal opportunities for the ABL sector here,” Davis said… Show more

Wholesale and retail inventories have always been a mainstay for lenders, but with millions of businesses now selling their wares on Amazon, what are the potential implications for the ABL sector? ABL Advisor sat down with Ryan Davis, Managing Director of Tiger Valuation Services, to discuss some of the considerations involved in lending to Amazon sellers. “Inventory quality at FBA [Fulfillment by Amazon] is excellent, so there are phenomenal opportunities for the ABL sector here,” Davis said. “However, assessing borrower health and Net Orderly Liquidation Value (NOLV) in this space requires stepped-up capabilities in data analytics. There are also a lot of misconceptions out there that need to be dispelled.” Show less

There is and will continue to be an unintended consequence of banks treating ABL as a product instead of a business. There is a real debate going on among commercial banking executives whether ABL divisions should be stand-alone businesses or simply a product to serve the commercial bank.

Paul Bent of The Alta Group explains you need to pay close attention to the entities, and their owners, with whom you are doing business.

In October 2020, Encina Capital Partners formed Encina Lender Finance. In this exclusive interview, Luke Graham and John Thomas discuss the group’s performance over the past 18 months and how market forces are influencing their strategy.

Zia Uddin, President & Co-Portfolio Manager, Institutional Portfolios, Monroe Capital, discusses the success and evolution of Monroe Capital over the past 20 years and the dynamics impacting the lower middle market. In this exclusive interview, Uddin discusses the market forces that impacted 2021 – a year in which Monroe closed in excess of $6.3 billion in new financing commitments, how a rising interest rate environment will impact margins, his biggest concerns for the next few years, and much… Show more

Zia Uddin, President & Co-Portfolio Manager, Institutional Portfolios, Monroe Capital, discusses the success and evolution of Monroe Capital over the past 20 years and the dynamics impacting the lower middle market. In this exclusive interview, Uddin discusses the market forces that impacted 2021 – a year in which Monroe closed in excess of $6.3 billion in new financing commitments, how a rising interest rate environment will impact margins, his biggest concerns for the next few years, and much more. Show less

Financial Partners Group (FPG) in January announced that fiscal 2021 was a record year for the company with 130 percent year-over-year growth and origination volume of $370 million. The company is aiming to reach $500 million in 2022. To learn more about the rapid growth at FPG, Equipment Finance Advisor met with LaLima to learn about the company and its growth.

Financial Partners Group (FPG) in January announced that fiscal 2021 was a record year for the company with 130 percent year-over-year growth and origination volume of $370 million. The company is aiming to reach $500 million in 2022. To learn more about the rapid growth at FPG, Equipment Finance Advisor met with LaLima to learn about the company and its growth.

Rob Katz of EisnerAmper reflects on the success of the Paycheck Protection Program nearly two years since its historic launch, and provides personal insights into this unprecedented program created to keep the U.S. economy afloat.

Scott Nelson of Tamarack Technology explains how equipment finance is ready for the next level of automation – Prediction.

In early January, Spouting Rock Asset Management (SRAM) announced it entered into an agreement to merge with Old Hill Partners Inc. (Old Hill). Old Hill is an alternative asset manager focused on providing asset-based lending transactions to small- and medium-sized businesses nationally. Structured as a newly formed subsidiary of Spouting Rock, Spouting Rock Alternative Credit, LLC (SR Alternative Credit), will hold Old Hill’s lending business and serve as the investment advisor to Old Hill’s… Show more

In early January, Spouting Rock Asset Management (SRAM) announced it entered into an agreement to merge with Old Hill Partners Inc. (Old Hill). Old Hill is an alternative asset manager focused on providing asset-based lending transactions to small- and medium-sized businesses nationally. Structured as a newly formed subsidiary of Spouting Rock, Spouting Rock Alternative Credit, LLC (SR Alternative Credit), will hold Old Hill’s lending business and serve as the investment advisor to Old Hill’s existing funds and other investment vehicles. This new subsidiary will be operated by former Old Hill employees, including Jeff Haas as President and Peter Faigl as Chief Investment Officer. Show less

In early January, Regions Bank announced the expansion of its Regions Equipment Finance Corporation (REFCO) to include a new Technology Solutions platform and the addition of a veteran team led by Jay Cannon, who will serve as REFCO’s Technology Solutions Market Manager. The new Technology Solutions platform will focus on providing both financing and leasing products for Regions clients with a focus on helping businesses maximize efficient operations through technology.

The 2007 thriller No Country for Old Men starring Tommy Lee Jones speaks to the challenge of a local sheriff tasked with investigating a complex crime instigated by expert players. The genesis of the movie is that the local sheriff comes to the realization that the crime and participants are beyond the sophistication of a small-town sheriff. Today when it comes to middle-market, non-bank ABL there is no country or space for single-product ABL. Single-product ABL refers to working capital… Show more

The 2007 thriller No Country for Old Men starring Tommy Lee Jones speaks to the challenge of a local sheriff tasked with investigating a complex crime instigated by expert players. The genesis of the movie is that the local sheriff comes to the realization that the crime and participants are beyond the sophistication of a small-town sheriff. Today when it comes to middle-market, non-bank ABL there is no country or space for single-product ABL. Single-product ABL refers to working capital revolver capabilities only. Show less

Joseph Lane, Vice Chairman and Chairman of Management Committee, Napier Park Global Capital and former Director, Vice Chairman and Chairman of the Equipment Leasing and Finance Association (ELFA), and a trustee and chairman of the Equipment Leasing and Finance Foundation speaks with Michael Toglia, Publisher of Equipment Finance Advisor on a myriad of topics including how rising inflation, supply chain issues and other factors are impacting the financing for long-lived, critical-use assets.

Wintrust Commercial Finance has achieved tremendous success in the past six years. Kirk Phillips, WCF’s President and CEO describes his team’s journey to success and what lies ahead.

Marc Cole, Co-Founder and CEO of SG Credit Partners discusses the firm’s recent acquisition of Stonegate Capital Holdings and its entry into middle-market asset-based lending.

Dave Kucera, Head of Capital One’s Financial Institutions Group says “My Father’s (and Grandfather’s) banking system continues to morph.

As tax policy takes center stage, lenders should consider discussing dividend recaps with clients according to Chuck Doyle, CEO of BizCap.

Consumers are setting the stage for a robust U.S. economy, yet there are potential bogeymen appearing in the paths of businesses.

Despite consumers setting the stage for a robust U.S. economy, there are potential bogeymen appearing in the paths of businesses.

Rosanne Doyle, Product Manager for ABL and Factoring with IDS | Secured Finance Technology discusses the challenges asset-based lenders face when connecting disparate systems in an effort to mitigate risk, creating access to multiple forms of data quickly, and implementing a borrower portal in an effort to eliminate low-value touchpoints. Rosanne also explains the value in pulling data from multiple data streams utilizing a SaaS solution to mitigate risk. According to Doyle, allowing systems to… Show more

Rosanne Doyle, Product Manager for ABL and Factoring with IDS | Secured Finance Technology discusses the challenges asset-based lenders face when connecting disparate systems in an effort to mitigate risk, creating access to multiple forms of data quickly, and implementing a borrower portal in an effort to eliminate low-value touchpoints. Rosanne also explains the value in pulling data from multiple data streams utilizing a SaaS solution to mitigate risk. According to Doyle, allowing systems to talk to each other in real time is a high priority for all asset-based lenders in their mission to eliminate low-value touchpoints for the borrower. Show less

Tiger Group experts provide insights into the factors asset-based lenders should contemplate when considering lending into the professional A/V sector.

Following the announcement of his retirement at the end of 2021, Bill Stephenson, CEO and Chairman of the Executive Board, DLL speaks with Michael Toglia, Publisher of Equipment Finance Advisor about his highly successful career in the equipment finance industry. In this up close and personal interview, Bill provides his perspectives on successful leadership, the importance of developing the next generation of diverse leaders, why creating a strong company culture is critical to long-term… Show more

Following the announcement of his retirement at the end of 2021, Bill Stephenson, CEO and Chairman of the Executive Board, DLL speaks with Michael Toglia, Publisher of Equipment Finance Advisor about his highly successful career in the equipment finance industry. In this up close and personal interview, Bill provides his perspectives on successful leadership, the importance of developing the next generation of diverse leaders, why creating a strong company culture is critical to long-term success, and the importance of striving to meet customers’ needs. Show less

Charlie Perer of SG Credit Partners pays homage to Business Development Officers - the Gladiators of lower middle-market asset-based and cash flow lending.

The borrower says all the right things, but when it comes to catalyzing real change in his or her business, it turns out to be only words. The borrower is in default and has no real intention to make necessary changes. How can a borrower be convinced to continue along a path of substantive, positive change? Millions of dollars are at stake, not to mention livelihoods, relationships and perceived status in the community. Read more...

Harold Ray, Director of the Industrial Group in CIT Group’s Equipment Finance business, discusses the group’s expansion strategy as the economy rebounds.

Jennifer Sheasgreen, President of Siena Healthcare Finance, discusses the impacts of the pandemic on the healthcare sector and how it may affect the industry going forward.

In May, SG Credit Partners announced their transformation to a situational credit platform. Charlie Perer, Co-Founder, Head of Originations provides his insights into this strategic expansion.

On May 19, 2021, I had the privilege of participating in the ELFA’s first virtual Capitol Connections – the ELFA’s largest advocacy event of the year. Created to educate members of Congress about the important role the equipment finance industry plays as a provider of capital in our economy, the participants set out to do just that – influence policy makers working on the proposed infrastructure spending proposal and continually evolving tax policies.

Within the finance world, many sophisticated investors assume opportunistic funds are primarily focused on event-driven strategies designed to step in during economic dislocations and make directional bets. During normal markets, the conventional wisdom is, these funds will “wait around” holding capital (often with a severe drag on returns) until the next cyclical shift takes form and these funds go “all-in” on a handful of themes or mandates. However, the past 12 months – marked by extremes to… Show more

Within the finance world, many sophisticated investors assume opportunistic funds are primarily focused on event-driven strategies designed to step in during economic dislocations and make directional bets. During normal markets, the conventional wisdom is, these funds will “wait around” holding capital (often with a severe drag on returns) until the next cyclical shift takes form and these funds go “all-in” on a handful of themes or mandates. However, the past 12 months – marked by extremes to both downside and upside scenarios – have demonstrated that certain opportunistic strategies are indeed “all-weather,” characterized by returns that can be consistent in any market and are often elevated during market dislocations. Show less

The Certified Lease & Finance Professional (CLFP) Foundation hit a major milestone, awarding its 1,000th CLFP designation. Not only has the organization grown roughly five-fold in CLFPs since 2014, its stature and impact in the industry has grown as well.

Michelle Speranza of LEAF Commercial Capital shares what business during the pandemic can teach us about the way forward.

Eldon Richards, Chief Technology Officer of IDS | Secured Finance Technology, Richards discusses how the adoption of rapid advancements in technology can empower agility for the asset-based lending industry and positively impact the customer experience. Richards provides his insights into the technologies that have the greatest opportunity to impact the future direction of asset-based lending, how technology allows lenders to stay ahead of risk through aggregating industry and market inputs… Show more

Eldon Richards, Chief Technology Officer of IDS | Secured Finance Technology, Richards discusses how the adoption of rapid advancements in technology can empower agility for the asset-based lending industry and positively impact the customer experience. Richards provides his insights into the technologies that have the greatest opportunity to impact the future direction of asset-based lending, how technology allows lenders to stay ahead of risk through aggregating industry and market inputs, and finally he discusses how can technology improves the customer experience. Show less

In this exclusive interview with George Souri, Founder and Chief Executive Officer of LQD Business Finance, a tech-enabled business lender that is developing a Bitcoin lending platform, Souri describes how using Blockchain in the loan securitization and lending process will improve process efficiency and accuracy. LQD’s platform will be the first to use Bitcoin as a business lending currency, and Souri explains why using Bitcoin as a lending currency is a function of a trend where… Show more

In this exclusive interview with George Souri, Founder and Chief Executive Officer of LQD Business Finance, a tech-enabled business lender that is developing a Bitcoin lending platform, Souri describes how using Blockchain in the loan securitization and lending process will improve process efficiency and accuracy. LQD’s platform will be the first to use Bitcoin as a business lending currency, and Souri explains why using Bitcoin as a lending currency is a function of a trend where cryptocurrency is not only a store for value, but also a useable currency in the lending process. Finally, we learn a bit about Souri’s acceptance into the Forbes Finance Council, an invitation-only community for executives in accounting, financial planning, wealth and asset management, and investment firms. Show less

ABL Advisor met with the leaders of three groups under the SLR Capital Partners umbrella to learn more about this company-wide initiative to effectively tackle the needs of an evolving commercial finance market

In this exclusive interview with Suzanne Bury, President and CEO, 1STWEST Background Due Diligence LLC , Sue provides her insights into the current dynamics of completing comprehensive background investigations, the need to effectively control for contingent liabilities, and why there is no replacement for the ‘trained eye’ of an experienced risk analyst. Sue also provides some salient advice for commercial finance professionals requiring extensive background investigations.

In December 2020, Greg Eck and Bill Stapel, were named new Co-leaders of Fifth Third Business Asset Based Lending Group, one of the largest asset-based lenders in the U.S. Both Eck and Stapel bring extensive experience to Fifth Third and together, their teams are addressing the needs of the middle market from all angles. In this interview, Eck and Stapel describe how the middle market recovered from the COVID-19 influenced economy in 2020 and provide their outlook for 2021 and beyond.

Jay Stone, Chief Executive Officer, Hilco Receivables provides his insights into the issues currently being experienced in the lending market when utilizing receivables as collateral.

The prospect of fraud against lenders participating in the PPP – and, ultimately, against the U.S. government, which guarantees those loans – is of great interest to lenders, and with good reason. Are your borrowers prepared if the SBA knocks at the door?

John Deane, CEO of The Alta Group reflects on 27 years of leading the highly respected and trailblazing consultancy serving the equipment finance industry globally.

Bill Phelan, General Manager, PayNet, outlines his insights into the small business economy, capital investment and delinquency trends as we enter a new year.

Throughout the pandemic, Tiger Group has been on the front lines of headline-making retail dispositions, from selective store-closure projects involving JCPenney, GNC and Sur La Table, to chainwide liquidations for the likes of New York & Co., Modell’s, Barney’s and Stein Mart.

ABL Advisor sat down with Michael McGrail, Chief Operating Officer, for his take on the effects of the crisis in areas such as appraisals, liquidation performance, seasonal retail inventories and the supply chain.… Show more

Throughout the pandemic, Tiger Group has been on the front lines of headline-making retail dispositions, from selective store-closure projects involving JCPenney, GNC and Sur La Table, to chainwide liquidations for the likes of New York & Co., Modell’s, Barney’s and Stein Mart.

ABL Advisor sat down with Michael McGrail, Chief Operating Officer, for his take on the effects of the crisis in areas such as appraisals, liquidation performance, seasonal retail inventories and the supply chain. While McGrail is clear-eyed about the challenges facing the retail sector, he sees reason for optimism. “As bad as COVID-19 has been and continues to be, I’ve been pleasantly surprised by the sales results we’ve been getting,” says McGrail. “There’s strong, pent-up demand among consumers, and the best retailers are adapting.” Show less

In November 2019, Wingspire Capital Holdings (Wingspire) announced its official launch as an independent diversified direct lender focused on providing asset-based loans and related senior secured loans to U.S.-based middle-market borrowers. Based in Atlanta, Wingspire focuses on the upper tier of the senior secured asset-based lending (ABL) market by providing senior secured revolving credit lines and term loans ranging in size from $20 million to $200 million. Wingspire is a portfolio company… Show more

In November 2019, Wingspire Capital Holdings (Wingspire) announced its official launch as an independent diversified direct lender focused on providing asset-based loans and related senior secured loans to U.S.-based middle-market borrowers. Based in Atlanta, Wingspire focuses on the upper tier of the senior secured asset-based lending (ABL) market by providing senior secured revolving credit lines and term loans ranging in size from $20 million to $200 million. Wingspire is a portfolio company of Owl Rock Capital Corporation, and is led by David Wisen, Founder and Chief Executive Officer. Wisen is a 25-year commercial finance industry veteran who previously served as Group President of Textron Financial Corp.

In the following interview with ABL Advisor, Wisen shares his insights into what it takes to successfully start a new commercial finance company focused on the asset-based lending sector, the impact of the COVID-19 pandemic on this new entrant to the lending market, Wingspire’s vision for long-term success in a highly competitive lending landscape, and the relationship between Wingspire and Owl Rock Capital Corporation. Show less

Baseball legend Yogi Berra once said of his New York Yankees team, “We have deep depth.” While Berra wasn’t referring to the commercial finance industry, this quote captures the spirit and mission of Gordon Brothers Finance Company (GBFC) – a private asset-based provider of loans to middle-market companies. Over the past two-plus years, this unique commercial finance company has successfully financed businesses in the U.S. and beyond – expanding its operations throughout North America and into… Show more

Baseball legend Yogi Berra once said of his New York Yankees team, “We have deep depth.” While Berra wasn’t referring to the commercial finance industry, this quote captures the spirit and mission of Gordon Brothers Finance Company (GBFC) – a private asset-based provider of loans to middle-market companies. Over the past two-plus years, this unique commercial finance company has successfully financed businesses in the U.S. and beyond – expanding its operations throughout North America and into Western Europe and Australia. Building and operating commercial finance businesses overseas can be challenging, as many banks and finance companies can attest; however, GBFC has found a way to successfully navigate its way around the globe. Show less

The state of the healthcare system is a consistent topic of public debate and discourse, so much so that it is one of the most polarizing topics confronting the entire nation. Uncertainty surrounding the healthcare industry has never been greater, as the new Presidential administration is seemingly committed to modifying or repealing the Affordable Care Act originally enacted in 2010.

In December 2016, White Oak Global Advisors (together with its advisory affiliates, “White Oak”), a leading originator and underwriter of capital providing direct lending and other initiatives to middle market companies, announced the acquisition of Capital Business Credit, LLC (CBC), a leading commercial finance company that provides asset-based loans, factoring and trade finance products to small and middle-market companies. As part of the acquisition, White Oak acquired CBC’s existing loan… Show more

In December 2016, White Oak Global Advisors (together with its advisory affiliates, “White Oak”), a leading originator and underwriter of capital providing direct lending and other initiatives to middle market companies, announced the acquisition of Capital Business Credit, LLC (CBC), a leading commercial finance company that provides asset-based loans, factoring and trade finance products to small and middle-market companies. As part of the acquisition, White Oak acquired CBC’s existing loan portfolio – comprised of over $300 million of assets employed, and the CBC team comprised of approximately 80 members in its office locations in New York, Charlotte, Fort Lauderdale, Los Angeles, Hong Kong and Shanghai. Show less

As we wrap up the year, ABL Advisor speaks with four bank executives from leading asset-based lenders to get a sense of how the asset-based lending industry performed in 2016, the potential impact the new Presidential administration and Congressional landscape may have on banks, the regulatory environment, and finally their expectations for the coming year.

In the following executive roundtable, Michael Haddad of Sterling Bank, Joseph Nemia of TD Bank, Michael Scolaro of BMO Harris Bank… Show more

As we wrap up the year, ABL Advisor speaks with four bank executives from leading asset-based lenders to get a sense of how the asset-based lending industry performed in 2016, the potential impact the new Presidential administration and Congressional landscape may have on banks, the regulatory environment, and finally their expectations for the coming year.

In the following executive roundtable, Michael Haddad of Sterling Bank, Joseph Nemia of TD Bank, Michael Scolaro of BMO Harris Bank and Ken Walters of EverBank Business Capital share their views on what most agree has been a successful, challenging and interesting year.
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In late August, Wells Fargo Capital Finance (WFCF) announced the formation of a new originations team for its Supply Chain Finance Group in the Americas. This team has been assembled as a result of Wells Fargo Capital Finance’s acquisition of GE Capital’s Commercial Distribution Finance (CDF) business, making Wells Fargo Capital Finance the largest Channel Finance provider for Technology Manufacturers in the Americas. John Schmidt, a co-founder and managing partner of Castle Pines Capital LLC… Show more

In late August, Wells Fargo Capital Finance (WFCF) announced the formation of a new originations team for its Supply Chain Finance Group in the Americas. This team has been assembled as a result of Wells Fargo Capital Finance’s acquisition of GE Capital’s Commercial Distribution Finance (CDF) business, making Wells Fargo Capital Finance the largest Channel Finance provider for Technology Manufacturers in the Americas. John Schmidt, a co-founder and managing partner of Castle Pines Capital LLC, which was acquired by Wells Fargo in 2011, has been appointed to lead this new team. ABL Advisor spent time with John Schmidt and Scott Diehl, Head of Capital Solutions for Wells Fargo Capital Finance to learn more about Wells Fargo’s rationale for expanding in the supply chain finance sector of commercial finance. Show less

In mid-March, Encina Capital Partners, an investment firm focused on specialized lending and leasing platforms, and an affiliate of certain funds managed by Oaktree Capital Management, L.P. (“Oaktree”) announced the launch of Encina Business Credit, LLC (“EBC”), a new independent asset-based lending platform targeting middle-market borrowers in the U.S. and Canada. Encina Business Credit’s leader is Marty Battaglia, a 30-year industry veteran who has been instrumental in building highly… Show more

In mid-March, Encina Capital Partners, an investment firm focused on specialized lending and leasing platforms, and an affiliate of certain funds managed by Oaktree Capital Management, L.P. (“Oaktree”) announced the launch of Encina Business Credit, LLC (“EBC”), a new independent asset-based lending platform targeting middle-market borrowers in the U.S. and Canada. Encina Business Credit’s leader is Marty Battaglia, a 30-year industry veteran who has been instrumental in building highly successful asset-based lending platforms at PPM America and LaSalle Business Credit. Show less

In May, Full Circle Capital Corporation announced the appointment of Michael Gervais and Jonathan Burklund as Managing Directors to lead its newly launched Healthcare Strategies team, focused on providing flexible debt financing to middle-market and lower middle-market healthcare companies. Full Circle Capital Corporation is a Greenwich, Connecticut based closed-end investment company that has elected to be treated as a Business Development Company (BDC), and it is this election to operate as… Show more

In May, Full Circle Capital Corporation announced the appointment of Michael Gervais and Jonathan Burklund as Managing Directors to lead its newly launched Healthcare Strategies team, focused on providing flexible debt financing to middle-market and lower middle-market healthcare companies. Full Circle Capital Corporation is a Greenwich, Connecticut based closed-end investment company that has elected to be treated as a Business Development Company (BDC), and it is this election to operate as BDC that provides Full Circle the unique opportunity to deliver a variety of financing solutions to the healthcare sector. Show less