In the 25th episode of the ABF Journal podcast, Andre Hakkak, CEO and co-founder of White Oak Global Advisors, stopped by to give his thoughts on the current private debt market. He gave an overview of 2020 and the first few weeks of 2021 and highlighted potential opportunities and risks across the direct lending spectrum for the rest of this year.
For the 24th episode of the ABF Journal Podcast, Gary Mendell, president of Meridian Finance Group, discussed the rise of credit demand over the last 12 months and the challenges suppliers and their lenders have faced in trying to meet it. He also dove into how credit insurance can be a helpful tool to mitigate nonpayment risks.
The ABF Journal Podcast is back for its second season. In the first episode of 2021, Doug Winget joined the program to discuss his outlook for the asset-based lending industry in 2021, Huntington’s recent office openings on the West Coast and the impact of a second round of federal COVID-19 relief on the industry.
In the 21st episode of the ABF Journal podcast, Robert Marinaro, head of product, credit, at Allvue Systems, joined the show to share his insights on the distressed debt market in 2020 as well as Allvue’s first year in business since forming as a combination of Black Mountain Systems and AltaReturn. He said distressed debt has been a “huge piece of the market” this year as LPs provide capital to help companies bridge their way through the COVID-19 pandemic. He also shared how important being tec...
In the 22nd episode of the ABF Journal podcast, Jennifer Palmer, who took over as CEO at the beginning of this year, shared how she’s focused on “protecting the book” and maintaining a high-touch approach to service through the COVID-19 pandemic. She also provided details on Gerber Finance’s new natural products division, how her unique perspective will help the company be a financial partner for woman-owned businesses, and her thoughts on the future for Gerber and the asset-based lending indust...
In the 20th episode of the ABF Journal podcast, Carey Davidson, managing director and head of capital markets at Monroe Capital, provided an update on what has been a bit of a rollercoaster year in the capital markets, which were robust early on, came to a near complete stop in mid-March and have slowly improved since. She also discussed trends that have developed such as an increase in non-sponsored deals and “clubbing” activity.
In the 19th episode of the ABF Journal podcast, Meredith Carter, president and CEO of Context Business Lending, discussed how she has utilized her skills and knowledge along with a data and technology-driven approach to help accelerate the growth of Context Business Lending and its mission of reinventing how ABL is done in today’s world. She also provided details on the company’s unique co-chief credit officer structure as well as her expectations for the ABL industry at large for the remainder ...
ABFJ Podcast: Coronvavirus' Impact on the Asset-Based Finance Industry
In the 17th episode of the ABF Journal podcast, Sandor Jacobson, a principal at Plante Moran, explained why an assignment for the benefit of creditors, or an ABC, is an important and attractive tool for distressed middle market companies due to its efficiency and low cost. He also outlined the most important steps in an ABC and discussed how this path differs and is potentially more favorable than a bankruptcy proceeding. https://www.abfjournal.com/articles/an-alternative-to-bankruptcy-when-wind...
In the 16th episode of the ABF Journal podcast, Lisa Galeota, managing director of First Eagle Alternative Credit, and Larry Klaff, senior managing director and head of asset-based loans First Eagle Alternative Credit explained why ABL was a natural extension for First Eagle and how they will use their respective expertise in the industry, including time at Gordon Brothers Finance Company, to build out this new group. They also spoke about the importance of proprietary deal flow, the challenges ...
In the 15th episode of the ABF Journal podcast, John Brignola, co-founder and senior managing partner of LBC Credit Partners, discussed how LBC’s new deal pipeline and M&A activity in general has recovered since cratering in the early days of the COVID-19 pandemic. He also explained how this environment has created new areas of diligence, changes to leverage points and capitalization, and increased scrutiny for consumer service businesses.
With the acquisition of companies like Gerber Finance and the North American operations of Bibby Financial Services, eCapital has really made a name for itself. In fact, by rebranding, the company formerly known as Global Merchant Fund has quite literally made a name for itself. In the 14h episode of the ABF Journal podcast, Bruce Sim, head of acquisitions at eCapital, joined the program to discuss the M&A landscape, his company’s rebrand and its approach to acquiring and supporting companie...
The economic recovery from the COVID-19 pandemic is only just beginning, but May was a slightly better month than April for small business borrowers, at least in terms of lending approval rates. In the 12th episode of ABF Journal’s COVID-19-focused podcast series, Rohit Arora, CEO of Biz2Credit, provided his perspective on small business lending during the first five months of 2020, including the drastic decline in April and the marginal increase in May. Arora explained that the supply is there ...
As far as technology has come, people are still behind the deals made in the asset-based lending business. That business is only going to be more active in the coming months, which means being adequately staffed will be a critical challenge for lenders. In the 11th episode of the ABF Journal’s COVID-19-focused podcast series, Doug Winget, president of Huntington Business Credit, joined the program to discuss his expectations for a surge in demand for asset-based lending over the next 18 months a...
Even as some states force open the U.S. economy, the economic ramifications of the COVID-19 pandemic will continue to be felt, particularly in the area of bankruptcy and restructuring. With companies across most sectors feeling some degree of damage from the pandemic, bankruptcy filings will continue to increase. In the 10th episode of the ABF Journal’s COVID-19-focused podcast series, Cynthia Romano and Kevin P. Clancy, who are both global directors of the restructuring and dispute resolution p...
The economic upheaval of the COVID-19 pandemic has led some companies to convert their cash-flow based credit facilities to asset-based facilities. In the ninth episode of ABF Journal’s COVID-19-focused podcast series, Ed Gately, head of asset-based finance at Mitsubishi UFJ Financial Group or MUFG, discussed this trend and the benefits of converting to an asset-based structure, including the level of comfort it provides to lenders due to collateral protection. Gately further explained why borro...
In the eighth episode of ABF Journal’s COVID-19-focused podcast series, Andy Sachs, chief operating officer of Robbins, Salomon and Patt, shared his take on these topics and much more. More specifically, he discussed how the pandemic has been a double-edged sword for non-bank asset-based lenders and reversed trends from the beginning of the year. Sachs also spoke about how the PPP may affect interest income and deal flow for lenders, why the second run should last longer and how expanded access ...
The focus of episode six of ABF Journal’s COVID-19-focused podcast series is factoring. To get a handle on how this industry is faring in the current environment, Robyn Barrett, managing member of FSW Funding, joined the program. She explained why factors are in a position to “shine” because they are intimately familiar with collateral and are in “constant contact with debtors.” She also said that as banks increase loss provisions and exit deals, factors will present an attractive lending option...
Due to the ever-evolving environment created by the COVID-19 pandemic, asset-based lenders and their borrowers are attempting to adjust and survive, with some finding more success than others. In the fifth episode of ABF Journal’s COVID-19-focused podcast series, Dan Kane, co-founder and managing member of Tiger Capital Group, joined the program and spoke about a wide variety of topics, including why junior debt and mezzanine lending is scary right now, where ABL lenders are focused and how Tige...
The COVID-19 pandemic has made life more difficult for many businesses, industries and asset classes. Such disruption will be reflected in the valuation space, which is the focus of the fourth episode of ABF Journal’s COVID-19-focused podcast series. The episode features a discussion with Chris Carmosino, president of valuations at Gordon Brothers. As an expert in the valuation space, Carmosino outlined how to tackle the process from home, emphasizing the importance of communication, both now an...
There have already been drastic business ramifications of the COVID-19 pandemic, and more dangers may lurk ahead. In such an environment, there are legal effects to consider as well. For many companies, including asset-based lenders, taking a look at the situation from such a perspective will be critical. In this episode, Jeffrey A. Wurst, a senior partner at Ruskin Moscou Faltischek and a long-time contributor to the ABF Journal, shared some of the silver linings of working from home as well as...
In the second episode of ABF Journal’s podcast, Brett Hickey, founder and CEO of Star Mountain Capital, outlines how companies with locked revenues and deferred payments are being affected by the COVID-19 pandemic. In addition, he shares why bridge financing is becoming a popular structure in this environment.
In our first podcast of the series, Vince Belcastro, Group Head of Syndications at Element Fleet Management, and Chris Enbom, CEO of AP Equipment Financing and Work Truck Direct discuss the early effects of the coronavirus on the industry, how their companies are adapting and the potential impact on various sectors and markets.
