Small businesses face tougher bankruptcy rules
The new federal bankruptcy law not only makes it harder for individuals to avoid repaying their debts, it also imposes tougher rules on small businesses that want to keep creditors at bay.
The new federal bankruptcy law not only makes it harder for individuals to avoid repaying their debts, it also imposes tougher rules on small businesses that want to keep creditors at bay.
Tri-S Security Corporation, a provider of contract guard services to various Federal government agencies pursuant to long-term contracts had entered into a new factoring agreement with LSQ Funding Group, LLC, Tri-S Security's existing commercial l
CIT Group Inc the commercial and consumer finance group reported net income of US$210.4m for the first quarter 2005, an increase from US$189.3m in Q1 2004. Diluted earnings per share were US$0.98 for the quarter, up from US$0.88 last year.
Bank of America Business Capital announced that Carmen Bernardis has been named managing director of Bank of America Business Capital Europe.
Textron Financial Corporation announced that it has begun offering asset-based financing to US healthcare providers.
CIT Group Inc., a leading provider of commercial and consumer finance solutions and SunTrust Banks, Inc. announced that CIT has acquired substantially all of the factoring assets of Receivables Capital Management (RCM), a division of SunTrust.
CapitalSource announced that it has provided a US$95m revolving credit facility to SETECH, an integrated supply and inventory management services provider to manufacturers in diverse industries.
Trinsic, Inc., a leading provider of enhanced circuit-switched and IP (Internet protocol) telephony services has entered into an accounts receivable financing facility with Thermo Credit LLC ("Thermo").
Tideline Capital, a company that provides outsourced vendor financing services for the software industry has secured US$105m and closed the first ever software receivables securitisation facility.
Perry Capital LLC, an investment management firm with approximately US$11bn under management has reached agreement to acquire the business and assets of Capital Factors, Inc. and Capital Tempfunds, Inc.