CTTMA 2015 Board of Directors 2
CTTMA 2015 Lender s Forum Table of Contents September 29, 2015 3
Firm Name AloStar Bank of Commerce Contact Name Blake Otte Firm Address 250 Park Avenue, 7th Floor, New York, NY 10177 Contact Phone 212-572-6324 Contact Email botte@alostarbank.com Type of Lender (ABL, Factor, Specialty Finance, Bank) Type of Loans (RC, TL, Unitranche, Sub Debt, Equity, Warrants) ABL & Lender Finance Asset based senior secured RLOC & Term Loans Pricing Metrics (Fees, Prime+; LIBOR, Floors) Libor based rates plus fees Maximum Credit Limit Preferred Hold Size Geography Limitations Industry Preferences Excluded Industries Estimated Turnaround Time to Close $35MM $5-20MM None- National Industry agnostic None- however progress billing often eliminates construction 30-45 days Special Requirements (Borrowing Base Certificates, LockBox, Covenants, Personal Guarantees) Other Transaction Specific Requirements 4
5
6
Firm Name BDC Capital Contact Name Carol C. Brennan Firm Address 20 Church St., Suite 1740 Contact Phone 860-218-2912 x204 Contact Email cbrennan@bdcnewengland.com Type of Lender (ABL, Factor, Specialty Finance, Bank) Type of Loans (RC, TL, Unitranche, Sub Debt, Equity, Warrants) ABL, term debt, junior secured debt, mezzanine capital, SBA 504 & 7a loans ABL, term debt, junior secured debt, mezzanine capital, SBA 504 & 7a loans Pricing Metrics (Fees, Prime+; LIBOR, Floors) Maximum Credit Limit $5 million Preferred Hold Size $500,000 to $5 million Geography Limitations Industry Preferences New England varies by program Excluded Industries varies by program Estimated Turnaround Time to Close Special Requirements (Borrowing Base Certificates, LockBox, Covenants, Personal Guarantees) typically providing a "gap" piece of financing to supplement a bank's financing; funds sourced from 28 member banks Other Transaction Specific Requirements 7
Firm Name Brookridge Funding Contact Name Michael Hilton Firm Address 26 mill plain road danbury, ct 06811 Contact Phone 203-790- 7301 Contact Email mhilton@brookridgefunding.com Type of Lender (ABL, Factor, Specialty Finance, Bank) Type of Loans (RC, TL, Unitranche, Sub Debt, Equity, Warrants) purchase order funding purchase order funding Pricing Metrics (Fees, Prime+; LIBOR, Floors) fee based Maximum Credit Limit $8,000,000 Preferred Hold Size $200,000 and up Geography Limitations us and canada Industry Preferences importers, distributors and wholesalers Excluded Industries service, construction and most inhouse manufacturing Estimated Turnaround Time to Close 5 to 10 days Special Requirements (Borrowing Base Certificates, LockBox, Covenants, Personal Guarantees) personal guarantees in most cases 8
Firm Name Citibank, N.A. Contact Name John Raleigh, Area Director; William McAndrew, Relationship Manager Firm Address 750 Washington Blvd Stamford, CT 06901 Contact Phone 203 975-6469; 203 975-6283 Contact Email john.v.raleigh@citi.com; william.mcandrew@citi.com Type of Lender (ABL, Factor, Specialty Finance, Bank) Type of Loans (RC, TL, Unitranche, Sub Debt, Equity, Warrants) Pricing Metrics (Fees, Prime+; LIBOR, Floors) Maximum Credit Limit Preferred Hold Size Geography Limitations Industry Preferences Excluded Industries Estimated Turnaround Time to Close Special Requirements (Borrowing Base Certificates, LockBox, Covenants, Personal Guarantees) Commercial Bank Commercial Bank LIBOR or Prime NA $50 million - higher depending on client and relationship CT, Westchester, Upstate NY We consider ourselves to be generalists. However, we have success in healthcare, Adult entertainment, check cashing, finance companies et al, hedge funds etc. Varie with complexities but could be as quick as two weeks or 30-45 days Colalteral coverage, BBC where appropriate; guarantees for revenue less than $50 million Other Transaction Specific Requirements 9
Firm Name Crystal Financial LLC Contact Name Cheryl Carner Firm Address Two International Place 17th Floor, Boston, MA 02110 Contact Phone 617-428-8718 Contact Email ccarner@crystalfinco.com Type of Lender (ABL, Factor, Specialty Finance, Bank) Type of Loans (RC, TL, Unitranche, Sub Debt, Equity, Warrants) specialty finance TL & Unitranche Pricing Metrics (Fees, Prime+; LIBOR, Floors) Fees & Libor+ Maximum Credit Limit Preferred Hold Size Geography Limitations Industry Preferences Excluded Industries Estimated Turnaround Time to Close $40MM $15-25MM none none oil & gas/energy 30-45 days Special Requirements (Borrowing Base Certificates, LockBox, Covenants, Personal Guarantees) deal dependent Other Transaction Specific Requirements 10
Firm Name DIAMOND BUSINESS CREDIT Contact Name Dave Lawrence Firm Address 100 Ledgewood Place, Suite 102, Rockland, MA 02370 Contact Phone 781-421-6157 Contact Email Dave@diamondbc.com Type of Lender (ABL, Factor, Specialty Finance, Bank) Asset Based Lender (sometimes with some structured over advance provisions) Type of Loans (RC, TL, Unitranche, Sub Debt, Equity, Warrants) Pricing Metrics (Fees, Prime+; LIBOR, Floors) Senior secured Commensurate with risk Maximum Credit Limit $1 Million Preferred Hold Size $25 thousand to $1 million Geography Limitations Industry Preferences Excluded Industries Northeast US, west to OH, south to VA None Retail Estimated Turnaround Time to Close As little as 24-48 hours Special Requirements (Borrowing Base Certificates, LockBox, Covenants, Personal Guarantees) All negotiable Other Transaction Specific Requirements Also seeking interesting local, micro ($100 thousand or less) equity investments 11
Firm Name Durham Commercial Capital Contact Name Mark Keehnle Firm Address 101 Sully's Trail, Pittsford, NY 14534 Contact Phone 857 919 0583 Contact Email markkeehnle@durhamcommercialcapital.com Type of Lender (ABL, Factor, Specialty Finance, Bank) Type of Loans (RC, TL, Unitranche, Sub Debt, Equity, Warrants) Pricing Metrics (Fees, Prime+; LIBOR, Floors) Specialty finance, Factoring, Purchase Order Financing, Discount Note Purchase Non Recourse purchase of commercial/government receveivables. Purchase bank notes at dscount. PO and mobilization funding Discount on receivables commensurate with volume and risk Maximum Credit Limit $5 million Preferred Hold Size $1-2 million Geography Limitations Industry Preferences Excluded Industries Estimated Turnaround Time to Close US and Canada Businessess with commercial/government receivables, medical providers, security firms, law firms Consumer Receivables 1 week to 1 month depending on deal complexity. All decisions made by ownership. No credit committees Special Requirements (Borrowing Base Certificates, LockBox, Covenants, Personal Guarantees) Notice of Assignment, lockbox, personal guarantee in most cases Other Transaction Specific Requirements Can purchase bank debt at a discount and provide factoring line for working capital. Mobilization funding. Can work on legally complex deals including DIP deals. 12
Firm Name Enhanced Capital Partners, llc Contact Name Liddy Karter Firm Address 300 Main St, Stamford CT Contact Phone 203 376 7958 Contact Email lkarter@enhancedcapital.com Type of Lender (ABL, Factor, Specialty Finance, Bank) Mezzanine Type of Loans (RC, TL, Unitranche, Sub Debt, Equity, Warrants) Senior and sub debt Pricing Metrics (Fees, Prime+; LIBOR, Floors) No fees, fixed rate, Maximum Credit Limit $5M Preferred Hold Size Geography Limitations CT Industry Preferences All Excluded Industries real Estate Estimated Turnaround Time to Close 2 months 13
Firm Name Gibraltar Business Capital Contact Name Chris Lehnes Firm Address 23 Barnabas Avenue, #57, Hawleyville, CT 06440 Contact Phone 203 304 9527 Contact Email clehnes@gibraltarbc.com Type of Lender (ABL, Factor, Specialty Finance, Bank) ABL & Factor Type of Loans (RC, TL, Unitranche, Sub Debt, Equity, Warrants) Pricing Metrics (Fees, Prime+; LIBOR, Floors) Revolving Credit Facilities secured by AR and Inventory Total Yield in mid teens Maximum Credit Limit $10 million Preferred Hold Size $10 million Geography Limitations USA Industry Preferences Manufacturing, distribution, service, tech, software and healthcare Excluded Industries Construction (progress billings) Estimated Turnaround Time to Close 30 days from LOI acceptance Special Requirements (Borrowing Base Certificates, LockBox, Covenants, Personal Guarantees) Other Transaction Specific Requirements 14
15
Firm Name Ironwood Capital Contact Name John Strahley Firm Address 45 Nod Road Contact Phone 860 409 2106 Contact Email strahley@ironwoodcap.com Type of Lender (ABL, Factor, Specialty Finance, Bank) Type of Loans (RC, TL, Unitranche, Sub Debt, Equity, Warrants) Pricing Metrics (Fees, Prime+; LIBOR, Floors) Specialty Finance Senior term and stretch senior debt, mezzanine, growth equity Pricing fexible to meet specific needs and based upon company profile, investment type, etc Maximum Credit Limit $1-$12 million Preferred Hold Size $3-5 million Geography Limitations Industry Preferences Excluded Industries Focused on Connecticut based companies Generalists with expertise in advanced manufacturing and retial operations Investment real estate, restaurants and retail operations Estimated Turnaround Time to Close Special Requirements (Borrowing Base Certificates, LockBox, Covenants, Personal Guarantees) 4 weeks Primary reliance on operating cash floe withj appropriate leverage and debt service covenants. PG's generally not required Other Transaction Specific Requirements 16
Firm Name Liquid Capital Partners Contact Name Bob Colgan Firm Address 265 Post Road West Westport, CT 06880 Contact Phone (203)454-1484 c.(203)910-6068 Contact Email bcolgan@liquidcapitalcorp.com Type of Lender (ABL, Factor, Specialty Finance, Bank) Type of Loans (RC, TL, Unitranche, Sub Debt, Equity, Warrants) Pricing Metrics (Fees, Prime+; LIBOR, Floors) Factor and Short Term ABL Factoring Lines, Short Term Bridge Loans, equipmenrt lease, purchase order Fees Maximum Credit Limit $2 million Preferred Hold Size $250k to $1 million Geography Limitations None Industry Preferences Excluded Industries Government related health care and construction Estimated Turnaround Time to Close Under 1 week Special Requirements (Borrowing Base Certificates, LockBox, Other Transaction Specific Requirements 17
Firm Name LSQ Funding group Contact Name Ronald Pinto Firm Address 2600 Lucien Way, Suite 100, Maitland, FL 32751 Contact Phone 213 706 9029 Contact Email rpinto@lsq.com Type of Lender (ABL, Factor, Specialty Finance, Bank) Factor and ABL Type of Loans (RC, TL, Unitranche, Sub Debt, Equity, Warrants) RC Pricing Metrics (Fees, Prime+; LIBOR, Floors) Fees and / or interest rate Maximum Credit Limit Preferred Hold Size Geography Limitations Industry Preferences Excluded Industries Estimated Turnaround Time to Close Na maximum $5-$10 million US clients and US debtors only None None 10 business days from application through legal closing Special Requirements (Borrowing Base Certificates, LockBox, Covenants, Personal Guarantees) Lockbox, AR claim assignment, Validity guarantee Other Transaction Specific Requirements Depends on each transaction according to complexity level 18
Firm Name MB Business Capital Contact Name Gregg Walker Firm Address New York presence (Headquarters in Rosemont, IL) Contact Phone 646 434 8642 Contact Email gwalker@mbfinancial.com Type of Lender (ABL, Factor, Specialty Finance, Bank) Type of Loans (RC, TL, Unitranche, Sub Debt, Equity, Warrants) Pricing Metrics (Fees, Prime+; LIBOR, Floors) Asset based Lender - Bank Lender Acquisitions, turnarounds-revolvers, term loans, growth capital LIBOR or Prime based loans with spreads over LIBOR from 2.25 to 4.00 Maximum Credit Limit $35 million Preferred Hold Size up to $35 million Geography Limitations Industry Preferences Excluded Industries United States General Construction, healthcare receivable financing Estimated Turnaround Time to Close 30 days Special Requirements (Borrowing Base Certificates, LockBox, Covenants, Personal Guarantees) Deal Dependent Other Transaction Specific Requirements MB Business Capital enjoys a strong history working with unitranche lenders and mezzanine providers 19
20
Firm Name People's United Business Capital Contact Name Gregory Pignataro Firm Address One Financial Plaza, Hartford, CT 06103 Contact Phone (860) 993-7540 Contact Email gregory.pignataro@peoples.com Type of Lender (ABL, Factor, Specialty Finance, Bank) Bank ABL Type of Loans (RC, TL, Unitranche, Sub Debt, Equity, Warrants) Lines of credit, term, mortgage and cash flow Pricing Metrics (Fees, Prime+; LIBOR, Floors) Varies by deal Maximum Credit Limit $40 million Preferred Hold Size $35 million Geography Limitations Maine through Virginia and contiguous states. Industry Preferences Manufacturing, distribution, food, liquor, service Excluded Industries None Estimated Turnaround Time to Close 3-6 weeks Special Requirements (Borrowing Base Certificates, LockBox, Covenants, Personal Guarantees) Varies by deal 21
Firm Name Contact Name Firm Address Contact Phone Contact Email Rockland Trust Michael A. Pandolfi 120 Liberty Street, Brockton, MA (413) 537-8871 Michael.Pandolfi@RocklandTrust.com Type of Lender (ABL, Factor, Specialty Finance, Bank) ABL Type of Loans (RC, TL, Unitranche, Sub Debt, Equity, Warrants) RC, TL's Pricing Metrics (Fees, Prime+; LIBOR, Floors) Closing,Unused Fee's, and Prime or Libor spreads - competitive based on credit and market. Maximum Credit Limit Maximum hold level approximately $30MM. Preferred Hold Size $20MM. Geography Limitations Northeast. Industry Preferences Mfg, distribution, retail, service. Excluded Industries Construction, techhnology, healthcare service providers. Estimated Turnaround Time to Close 5-7 weeks. Special Requirements (Borrowing Base Certificates, LockBox, Covenants, Personal Guarantees) Weekly BBC's, cash dominion, minimal covenants. 22
23
Firm Name Summit Financial Resources LP Contact Name Ralph Aurelia Firm Address 1348 Nichols Avenue, Stratford, CT 06614 Contact Phone 203-377- 1527 Contact Email raurelia@summitfr.com Type of Lender (ABL, Factor, Specialty Finance, Bank) Working Capital - ABL and Factoring Type of Loans (RC, TL, Unitranche, Sub Debt, Equity, Warrants) Pricing Metrics (Fees, Prime+; LIBOR, Floors) Working Capital - ABL and Factoring Maximum Credit Limit $4,000,000 Preferred Hold Size $250,000 to $2,000,000 Geography Limitations Nationwide Industry Preferences Excluded Industries Manufacturing, distribution, wholesale, services, transportation and staffing. Medical receivables (3rd party payors) and consumer A/R. Limited appetite for construction Estimated Turnaround Time to Close 1 week to 1 month - depending on transaction size, collateral involved and deal complexity. Special Requirements (Borrowing Base Certificates, LockBox, Covenants, Personal Guarantees) Other Transaction Specific Requirements No financial covenants; will consider over- advances, high customer concentrations - ok; will fund governemnt receivables; inventory and equipment lending capabilities; will consider funding foreign A/R; and utilize ABL- loan/security agreement and factoring structures. 24
25
Firm Name Trade Finance Solutions Inc Contact Name Brian Weiner Firm Address 104 West 40th Street, Suite 500 Contact Phone 347 483 1096 Contact Email bweiner@tradefinancesolutions.com Type of Lender (ABL, Factor, Specialty Finance, Bank) Type of Loans (RC, TL, Unitranche, Sub Debt, Equity, Warrants) Specialty Finance Domestic and foreign factoring, purchase order financing, supply chain finance, receivables finance Pricing Metrics (Fees, Prime+; LIBOR, Floors) Varies by product Maximum Credit Limit $20 million Preferred Hold Size $500 thousand to $5 million Geography Limitations Industry Preferences Excluded Industries None (can finance domestic and foreign) None Construction and healthcare Estimated Turnaround Time to Close As necessary Special Requirements (Borrowing Base Certificates, LockBox, Covenants, Personal Guarantees) Credit insurance, US or Candaian dollar denominated funding, control of cash Other Transaction Specific Requirements 26
Firm Name Veritas Finance Partners Contact Name Brian Cuttic Firm Address 2500 N Military Strail, Suite 465 Boac Raton, FL 33431 Contact Phone 678 521 1360 Contact Email bcuttic@vfpfinancial.com Type of Lender (ABL, Factor, Specialty Finance, Bank) Type of Loans (RC, TL, Unitranche, Sub Debt, Equity, Warrants) ABL Revolving lines of credit, term loans, Multiple collateral types Pricing Metrics (Fees, Prime+; LIBOR, Floors) LIBOR plus 5-7% Maximum Credit Limit $2 million to $10 million Preferred Hold Size $2 million to $10 million Geography Limitations Industry Preferences Excluded Industries National All industries Healthcare, Consumer Finance, Long Term Construction Estimated Turnaround Time to Close 30 days Special Requirements (Borrowing Base Certificates, LockBox, Covenants, Personal Guarantees) Lockbox, Dominion of Cash, Limited or no covenants Other Transaction Specific Requirements 27
Firm Name Webster Bank, N.A. Contact Name Martin Anderson Firm Address 281 Tresser Blvd, Stamford, CT 06901 Contact Phone 203 328 8135 Contact Email mhanderson@websterbank.com Type of Lender (ABL, Factor, Specialty Finance, Bank) Type of Loans (RC, TL, Unitranche, Sub Debt, Equity, Warrants) Pricing Metrics (Fees, Prime+; LIBOR, Floors) Maximum Credit Limit Preferred Hold Size Geography Limitations Industry Preferences Excluded Industries Estimated Turnaround Time to Close Special Requirements (Borrowing Base Certificates, LockBox, Covenants, Personal Guarantees) Middel Market, ABL, Cash Flow First Lien - RC and Term Deal Dependent N/A - Ability to Agent and Participate beyond preferred hold size $5 million to $30 million Sponsor or primary operations/hq withih footprint - DC to Boston Manufacturing, wholesale, distribution, retail with sector expdertise in healthcare, media & communications Money Services businesses Varies. Turnaround for approval is two weeks from signed term sheet Deal Specific Other Transaction Specific Requirements Deal Specific 28