CISION PR Newwire

CISION PR Newwire

Rosenthal Acquires Domestic Factoring Portfolio From BB&T (NYSE: BBT)

Deal Includes 90 Clients, Adds Approximately $2B to Existing $9B Factored Volume

NEW YORK, Jan. 31, 2018 /PRNewswire/ -- Rosenthal & Rosenthal, Inc., the leading independent factoring, asset based lending and purchase order financing firm in the United States, today announced the completion of a deal to acquire the domestic factoring portfolio of BB&T Corporation (NYSE: BBT), one of the largest financial services holding companies in the United States.

As part of the deal, Rosenthal will acquire BB&T's portfolio of 90 factoring clients, adding approximately $2 billion in volume to its already robust $9 billion in factored volume. Rosenthal will add a front office in Georgia and back office support in North Carolina to manage the new portfolio. These two new locations complement Rosenthal's already existing California office and New York headquarters. Twenty-five BB&T factoring professionals will join the nearly 200 Rosenthal staff currently serving the firm's clients nationwide.

The deal marks the first acquisition in Rosenthal's 80-year history and positions the firm to further diversify the regions and industries it currently serves. This significant expansion allows Rosenthal to continue to develop new business opportunities within the furniture, casual living, fabrics and textiles industries, alongside the fashion, apparel, accessories, manufacturing, food & beverage and gift & home sectors, where Rosenthal has had historically strong relationships.

"We are excited to acquire BB&T's portfolio of factoring clients and honored to welcome their talented team of professionals into the Rosenthal family," said Peter Rosenthal, President of Rosenthal & Rosenthal. "This acquisition is a logical step forward for our firm, significantly advancing our goal of establishing Rosenthal as the leading independent national finance company."

"We are pleased to be a part of this transaction with Rosenthal & Rosenthal," said BB&T Specialized Finance and Operations Manager Robert Fentress. "Both our clients and associates will benefit from an association with one of the most respected firms in the factoring and asset based lending business."

ABOUT ROSENTHAL & ROSENTHAL

Rosenthal & Rosenthal (www.rosenthalinc.com) is the leading independent factoring, asset based lending and purchase order financing firm in the United States. Founded in 1938 by Imre J. Rosenthal, the firm is now led by the second and third generations of the Rosenthal family. As a privately held company, Rosenthal is committed to providing personalized service and flexible lending to clients across a broad range of industries. Rosenthal has offices in New York, California, Georgia and North Carolina.

BB&T

BB&T is one of the largest financial services holding companies in the U.S. with $221.6 billion in assets and market capitalization of $38.9 billion as of December 31, 2017. Building on a long tradition of excellence in community banking, BB&T offers a wide range of financial services including retail and commercial banking, investments, insurance, wealth management, asset management, mortgage, corporate banking, capital markets and specialized lending. Based in Winston-Salem, N.C., BB&T operates over 2,000 financial centers in 15 states and Washington, D.C. A Fortune 500 company, BB&T is consistently recognized for outstanding client service by Greenwich Associates for small business and middle market banking. More information about BB&T and its full line of products and services is available at BBT.com.

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SOURCE Rosenthal & Rosenthal, Inc.

Related Links

http://www.rosenthalinc.com

ABF Journal

ABF Journal

Rosenthal to Acquire BB&T Factoring Portfolio

 

Rosenthal & Rosenthal will acquire the domestic factoring portfolio of BB&T.

Rosenthal will procure 90 factoring clients from BB&T’s portfolio, adding approximately $2 billion in volume to its $9 billion in factored volume. The company will also add a front office in Georgia and back office support in North Carolina to manage the new portfolio. Additionally, 25 BB&T factoring professionals will join the Rosenthal staff.

The deal is the first acquisition in Rosenthal’s 80-year history. The expansion will allow Rosenthal to continue to develop new business opportunities within the furniture, casual living, fabrics and textiles industries, alongside the fashion, apparel, accessories, manufacturing, food and beverage and gift and home sectors.

“We are excited to acquire BB&T’s portfolio of factoring clients and honored to welcome their talented team of professionals into the Rosenthal family,” said Peter Rosenthal, president of Rosenthal & Rosenthal. “This acquisition is a logical step forward for our firm, significantly advancing our goal of establishing Rosenthal as the leading independent national finance company.”

By Jessica Seaman   –  Reporter, Triad Business Journal

By Jessica Seaman – Reporter, Triad Business Journal

BB&T Corp. sells factoring portfolio to New York firm


By Jessica Seaman
 –  Reporter, Triad Business Journal

Jan 31, 2018, 6:29am

BB&T Corp. (NYSE: BBT) has agreed to sell its domestic factoring portfolio to Rosenthal & Rosenthal Inc., the companies said Wednesday.

As a result of the acquisition, 25 of BB&T's employees in the factoring division will join Rosenthal, which will have an office based in High Point.

"This deal also allows BB&T to continue its reconceptualization effort to focus on the businesses that are a better long-term strategic fit for our company," said Brian Davis, spokesperson for BB&T.

As part of the deal, Rosenthal will acquire 90 factoring clients from BB&T, which it says will add about $2 billion in factored volume.

Factoring, offered by BB&T through its Commercial Lending division, offers accounts receivable management services to replace credit and collection functions within an organization. It also provides working capital secured by foreign or domestic accounts receivable and inventory.

Rosenthal is an independent factoring, asset-based lending and purchase-order financing firm based in New York. The company also plans to add a office in Georgia as a result of the deal.

Rosenthal said it's the first acquisition in the company's history. The company said it will allow it to diversify in the region and other industries.

“We are excited to acquire BB&T’s portfolio of factoring clients and honored to welcome their talented team of professionals into the Rosenthal family,” said Peter Rosenthal, president of the company “This acquisition is a logical step forward for our firm, significantly advancing our goal of establishing Rosenthal as the leading independent national finance company.”

The announcement of the acquisition comes on the heels of BB&T's recent commitment to spend up to $50 million to invest or acquire emerging fintech companies.

ROSENTHAL ACQUIRES Domestic Factoring PORTFOLIO  FROM BB&T (NYSE: BBT)

ROSENTHAL ACQUIRES Domestic Factoring PORTFOLIO FROM BB&T (NYSE: BBT)

Deal Includes 90 Clients, Adds Approximately $2B to Existing  $9B Factored Volume


(NEW YORK)January 31, 2018Rosenthal & Rosenthal, Inc., the leading independent factoring, asset based lending and purchase order financing firm in the United States, today announced the completion of a deal to acquire the domestic factoring portfolio of BB&T Corporation (NYSE: BBT), one of the largest financial services holding companies in the United States.

As part of the deal, Rosenthal will acquire BB&T’s portfolio of 90 factoring clients, adding approximately $2 billion in volume to its already robust $9 billion in factored volume. Rosenthal will add a front office in Georgia and back office support in North Carolina to manage the new portfolio. These two new locations complement Rosenthal’s already existing California office and New York headquarters. Twenty-five BB&T factoring professionals will join the nearly 200 Rosenthal staff currently serving the firm’s clients nationwide. 

The deal marks the first acquisition in Rosenthal’s 80-year history and positions the firm to further diversify the regions and industries it currently serves. This significant expansion allows Rosenthal to continue to develop new business opportunities within the furniture, casual living, fabrics and textiles industries, alongside the fashion, apparel, accessories, manufacturing, food & beverage and gift & home sectors, where Rosenthal has had historically strong relationships. 

“We are excited to acquire BB&T’s portfolio of factoring clients and honored to welcome their talented team of professionals into the Rosenthal family,” said Peter Rosenthal, President of Rosenthal & Rosenthal. “This acquisition is a logical step forward for our firm, significantly advancing our goal of establishing Rosenthal as the leading independent national finance company.”

“We are pleased to be a part of this transaction with Rosenthal & Rosenthal,” said BB&T Specialized Finance and Operations Manager Robert Fentress. “Both our clients and associates will benefit from an association with one of the most respected firms in the factoring and asset based lending business.”


ABOUT ROSENTHAL & ROSENTHAL

Rosenthal & Rosenthal (www.rosenthalinc.com) is the leading independent factoring, asset based lending and purchase order financing firm in the United States. Founded in 1938 by Imre J. Rosenthal, the firm is now led by the second and third generations of the Rosenthal family. As a privately held company, Rosenthal is committed to providing personalized service and flexible lending to clients across a broad range of industries. Rosenthal has offices in New York, California, Georgia and North Carolina. 

BB&T

BB&T is one of the largest financial services holding companies in the U.S. with $221.6 billion in assets and market capitalization of $38.9 billion as of December 31, 2017. Building on a long tradition of excellence in community banking, BB&T offers a wide range of financial services including retail and commercial banking, investments, insurance, wealth management, asset management, mortgage, corporate banking, capital markets and specialized lending. Based in Winston-Salem, N.C., BB&T operates over 2,000 financial centers in 15 states and Washington, D.C. A Fortune 500 company, BB&T is consistently recognized for outstanding client service by Greenwich Associates for small business and middle market banking. More information about BB&T and its full line of products and services is available at BBT.com.


 

 

Winston-Salem Journal

Winston-Salem Journal

BB&T agrees to sell factoring portfolio worth $2 billion


BB&T Corp. is exiting the domestic factoring business, agreeing to sell its $2 billion portfolio to Rosenthal & Rosenthal Inc. of New York, the companies said in a statement timed for release today.

Terms of the deal were not disclosed.

Factoring, which has been offered by BB&T Commercial Finance, involves accounts-receivable management services to replace most credit and collection functions within an organization. It also involves providing working capital secured by foreign or domestic accounts receivable and inventory.

Rosenthal gains 90 BB&T factoring clients and expands its factoring portfolio to $11 billion. Many of the factoring clients are involved in the furniture, casual living, fabrics and textiles industries.

“We believe this deal presents a tremendous long-term opportunity for our factoring clients,” BB&T spokesman Brian Davis said.

“Rosenthal & Rosenthal will be able to leverage their extensive capabilities in this space, along with the expertise of our professional teams based in Georgia and North Carolina.”

Tony Plath, a finance professor at UNC Charlotte, said factoring “is really industry-specific, and it’s common in both the textile and furniture industries.”

“Since these aren’t exactly booming these days, it’s not a growing line of business for banks. That likely explains BB&T’s motivation to exit the business.”

It is the first acquisition in Rosenthal’s 80-year history and expands its reach into the Southeast. Rosenthal’s focus has been on the fashion, apparel, accessories, manufacturing, food and beverage, and gift and home sectors,

About 25 BB&T employees will join Rosenthal. Rosenthal will add an office in Georgia and retain back-office support in High Point, supplementing its New York headquarters and California office with a combined nearly 200 employees.

“This acquisition is a logical step forward for our firm, significantly advancing our goal of establishing Rosenthal as the leading independent national finance company,” said Peter Rosenthal, the firm’s president.

The divestiture of the factoring portfolio represents a step in BB&T’s recent initiative to focus more on what executives consider as more core business.

That includes restructuring its auto and mortgage lending portfolios in what Kelly King, its chairman and chief executive, calls “making long-term strategic changes” projected to grow both portfolios beginning in the second half of 2018.

“We continue to have more emphasis on all of our national lending businesses, our corporate business, our leasing businesses, particularly around our equipment, our auto portfolio,” King told analysts during a fourth-quarter earnings conference call Jan. 18.

“We’re changing, but we’re also expanding it more broadly across the country. Our mortgage portfolio, we’re expanding in a lot of new markets and other places in terms of our brokerage business around the country. Our wealth business continues to grow and we invest substantially more assets in that.”

Plath said selling the portfolio makes sense given that King “has already chartered a strategic path for capital allocation across the bank’s core initiatives, such as expanding its reach in existing markets in the Midwest and Texas, small- and mid-sized corporate commercial and industrial lending, and becoming a leader in back- and front-office technology innovation and adoption in the industry.”

King said a heightened focus on expense control, such as the decision to close 147 branches in 2017 is helping the bank “optimize our structure.”

Branches in Denton, Lexington and Whitsett were affected by the decision.

The branch total was 2,049 as of Dec. 31.

King said the bank expects to close another 150 branches in 2018.

It has confirmed plans to close its branch in Valdese.

“We’ve still got a lot of small branches in a lot of rural areas, and we’re being much more aggressive in terms of rationalizing that structure,” King said. “You can expect to see that continue for a number of years.”

King stressed that management is “tightly focused on organic growth.”

“We are re-conceptualizing our business. We’re disrupting our businesses. We’re preparing for the future and we’re very excited about the future.”

Taking the Road Less Traveled: An Experienced Lender Choreographs a Borrower’s Turnaround

Taking the Road Less Traveled: An Experienced Lender Choreographs a Borrower’s Turnaround

When a distressed company approaches a lender for financing, it usually comes down to a black-and-white decision: Will the company be able to repay the loan or not? In most cases, the lender doesn’t become involved in the turnaround of a borrower. But Robert Miller relates a more nuanced story, showing how a lender can take the road less traveled and provide more than financing to restore a failing company.


In business, it’s not uncommon for companies to experience cash flow issues linked to market conditions, declining sales, operational challenges or other complex factors. In most cases, lenders are tolerant of occasional disruptions. When cash flow stress borders on debilitating, many senior lenders rush to toss a company into workout, pursue a turnaround or even plunge into bankruptcy. But with a little creativity, a lot of flexibility and the ability to see beyond losses, a good lender can right the ship before it capsizes.

A recent deal Rosenthal & Rosenthal completed for Prestige Industries is an example of a situation that required a more creative approach. It turned out to be a road filled with twists and turns, but we learned a few important lessons along the way.


Be Resourceful

Prestige was looking to replace Wells Fargo, its current senior working capital lender. The company had been with the bank for several years, but Wells had recently transferred Prestige to its workout group and instructed the company to find a replacement senior lender.

After Prestige approached us, we quickly learned that finding a new senior lender was not the company’s only issue. Prestige was carrying significant debts with its mezzanine lender and its private equity owner and majority shareholder. With declining sales and a considerable drop in EBITDA, Prestige was no longer able to service its debt and remain in compliance with its senior lender.

Our initial analysis revealed adequate collateral coverage in both the company’s accounts receivable and capital equipment. As one of the premier commercial laundry companies serving the New
York City hospitality industry, many of Prestige’s receivables were from large, established hotel chains. The machinery used for washing, drying, pressing and folding linens for some of the biggest hotels in Manhattan provided extensive fixed assets.

Be Flexible

We plowed ahead. Our first objective was to provide additional liquidity to help Prestige stabilize its operations. With a healthier cash flow, it could improve sales and profits and also deal with some neglected CAPEX and maintenance issues. But the company also needed more liquidity to manage larger, more fundamental problems with its capital structure, which clearly had far too much leverage given the significant reduction in EBITDA.

Working in tandem with outside counsel at the Otterbourg law firm, we determined the best course of action was for Rosenthal to support the company’s desire to recapitalize or sell itself via a 363 sale after filing Chapter 11. This scenario was perceived as a win for all parties because:

  • The senior lender would be able to shed a classified loan.
  • The mezzanine lender and private equity owner could work out their issues and be well positioned to sell the company.
  • Rosenthal would have a well-collateralized loan, with positive cash flow on a reduced level of debt — not to mention the full protection of the bankruptcy court to deal with the unsecured creditors and ensure that the subordination issues and priority lien status remained intact and under the court’s jurisdiction.

Move Quickly

While negotiations were underway, Rosenthal was able to approve an initial debtor-in-possession (DIP) loan to allow the company to enter Chapter 11 with adequate working capital and enough runway to manage an estimated $1 million in professional fees. Things were moving in the right direction when the subordinated lender issued a “trigger” notice, requiring all parties to act within a stated 150-day standstill period to pursue either a recapitalization or a sale of the company.

With this added limitation, Rosenthal, along with attorneys at Otterbourg and turnaround consultants at Traxi, concluded that a bankruptcy filing would be the best solution for the senior lender and the company. Wells Fargo would provide the initial interim DIP loan, which would last approximately three weeks, and then Rosenthal would step in with a longer-term DIP loan to give the company adequate time to either sell itself or reorganize. Although a three-week timeline was challenging, it proved to be possible.

Along with the required bankruptcy documents, Prestige also filed Rosenthal’s already negotiated and approved loan documents, so the company and the court were assured of Rosenthal’s involvement with and commitment to the deal. At the same time, Traxi stepped in to assist the management team with the day-to-day operations and to oversee customer and supplier relations and cash management for the duration of the bankruptcy process.

Prestige filed for Chapter 11 on January 30, 2017 and, as anticipated, roughly three weeks later Rosenthal repaid the Wells Fargo DIP and replaced the bank as Prestige’s DIP lender. With the financing in place, the management team and Traxi worked diligently to reassure the company’s customers, suppliers and employees that business would continue as usual during this interim period. With Prestige now stable, a question remained. Should the company reorganize or sell in a 363 sale with the protections of court?

Think Creatively

Prior to the Chapter 11 filing, Prestige, with the consent of its senior lenders, engaged SSG Advisors to help market the company for sale. Shortly after beginning this process, SSG asked if Rosenthal would be interested in backing the bid of a potential buyer. We had already done our due diligence on Prestige and the collateral, so we agreed to explore this option.

Sunrise Capital, a young and successful private equity firm, approached Rosenthal to request our support of its potential bid. After thorough due diligence on Sunrise — its partners, investors and projections — Rosenthal backed the firm in its ultimately successful bid for Prestige, providing a portion of the purchase price and ongoing working capital.

With a new owner, a fresh capital infusion and old debts extinguished, the company turned its focus to restructuring its management and existing workforce and, most importantly, to convincing new and existing customers that operations would continue uninterrupted and the business would be better than ever. With Sunrise’s expertise, Traxi’s ongoing involvement and Rosenthal’s commitment and vision, the company is not only stabilized but thriving.

In business, there will always be forks in the road and challenges that seem insurmountable. Often, companies must take the road less traveled to reach their destination. As a lender, it’s not always easy to find solutions to tough problems that affect a borrower’s bottom line — or your own. But more often than not, when we push ourselves to try something unconventional or pursue an alternative strategy, everyone benefits.


Robert Miller, Head of Asset-Based Lending, Rosenthal & Rosenthal

Featured in Gifts and Dec: Three Signs Your Lending Relationship May Not Be Working For You

Featured in Gifts and Dec: Three Signs Your Lending Relationship May Not Be Working For You

Three Signs Your Lending Relationship May Not Be Working For You

By Cassie Rosenthal, Senior Vice President, Rosenthal & Rosenthal

When it comes to your company, nothing is more important than its financial health and stability. It’s critical to have the right financial partner at your side as you aim to grow your business or are forced to weather challenges that may threaten your bottom line. But how do you know if your lending relationship is one that will truly serve your business interests for the long term? Here are some important questions you should ask yourself:

  • Is your relationship with your bank flexible enough to allow you to take advantage of growth opportunities when you see them?
  • Is your lender tolerant of unforeseen obstacles or shifts in your business model?
  • Will your bank line grow as you scale your business or will an unforeseen large order max out your line of credit?
  • When you experience disruptions to your cash flow, are you faced with sky-high fees and penalties – or worse, does your bank threaten to pull your funding altogether?
  • Does your lender understand your business?
  • Do you ever feel like just another client in a crowded portfolio?

If any of these scenarios sounds familiar, then you must ask yourself if your lending relationship is really right for you and your business.

Three red flags it’s time to explore a new lending relationship:

#1 The Dead Giveaway

Your lender claims they understand the natural ebb and flow of your business, but when it comes to the issues that consistently crop up for you, it’s clear they don’t appreciate how those challenges can affect the overall financial health of your company. Do they understand how seasonality can affect your cash flow or how the unpredictability of a large, unexpected order can put a strain on your company’s finances, not to mention your own sanity? Many gift and home businesses struggle with complex supply chains that require deposits or other cash outlays not necessarily factored into their financial plans. To overcome these challenges, you should have a financial partner who knows what you need, even before you know you need it.

#2 Regulatory Pushback is Not Your Friend

Traditional banks rely on formulas and balance sheets, but your business doesn’t always fit perfectly into a tidy box. The life of an entrepreneur – and your business – will have its ups and downs. You should have a financial partner that is nimble, with the ability to adapt quickly to find solutions that meet your needs. Large public banks and lenders are often slow to react – and lend – when you need over advances for the seasonal lows and for the build-up of inventory for moments like Christmas or Chinese New Year. Independent, privately held lenders that are not restricted by stringent banking regulations or lengthy committee reviews are often more flexible and able to help you ride out rough patches without a hit to your bottom line.

#3 Your Banker is a Nameless Face

As an entrepreneur, you know that everything in business is personal. It’s built on relationships, hard work, determination – and in many cases – a dream. You would never trust your child with a stranger, so why would you hand over your entire business to just anyone? An effective financial partner should always look out for your best interests, flag bad debt so you can avoid it and help you navigate complex financial situations. They should be a true partner in every sense of the word – a sounding board for new ideas and a reliable cohort to support your business goals, whatever they may be. Anything less than that and you’re selling yourself – and your business – short.

To learn more about how your business can benefit from alternative lending solutions like factoring, asset based lending and purchase order financing, please visit www.rosenthalinc.com or contact Cassie Rosenthal at crosenthal@rosenthalinc.com or 212-356-1475.

ROSENTHAL PROVIDES UNIQUE FINANCING TO FACILITATE RESTRUCTURING AND SUCCESSFUL SALE OF CASH-CONSTRAINED BUSINESS

ROSENTHAL PROVIDES UNIQUE FINANCING TO FACILITATE RESTRUCTURING AND SUCCESSFUL SALE OF CASH-CONSTRAINED BUSINESS

In Partnership with Third-Party Turnaround Consultant, Legal Advisor and Private Equity Firm, Rosenthal Develops Strategic Financing Alternatives to Maximize Client’s Chapter 11 Process and Sale

 

(NEW YORK)June 6, 2017Rosenthal & Rosenthal, Inc., the leading factoring, asset based lending and purchase order financing firm in the U.S., today announced its role in the recent completion of a complex restructuring and sale of Prestige Industries, a leading provider of commercial laundry and valet services to the hospitality industry in the greater New York City region.

An affiliate of the private equity firm Sunrise Capital Partners completed the acquisition of Prestige Industries’ operations through a Chapter 11 auction process approved on May 12, 2017. Both a financial and strategic investor in the business, Sunrise’s seasoned team of investment professionals is helping to lead the turnaround efforts.

As a result of staffing constraints, employee turnover, a highly leveraged capital structure and operational losses around their facilities construction, Prestige had been experiencing cash-flow stress that negatively impacted the company’s liquidity. Earlier this year, turnaround consultants at Traxi LCC were brought in to work with Prestige to stabilize its financing and operations, which ultimately resulted in a strategic Chapter 11 bankruptcy filing.

As part of the restructuring, Rosenthal worked with Traxi and a team of lawyers from Otterbourg P.C., to develop an innovative financing arrangement by leveraging the company’s machinery and equipment and other fixed assets as collateral to address cash flow issues and help stabilize the business. This financing opportunity allowed the company to pursue either a 363 sale in bankruptcy or a capital restructuring. The arrangement not only provided Prestige with the funding it needed to relieve its cash flow constraints, but also the flexibility to pursue alternative reorganization solutions.  

Rosenthal’s strategic approach allowed Prestige to refinance its pre-bankruptcy working capital lender, over the opposition of a junior secured lender, which positioned the company to maximize its Chapter 11 sale and restructuring prospects. Moreover, when the sale was completed, Rosenthal was able to pay off the initial asset based DIP loan with its new loan to Sunrise. Prestige’s business has now successfully emerged from bankruptcy through the sale to an affiliate of Sunrise Capital Partners.

“This was a complicated deal that showcased Rosenthal’s nimbleness and our ability to think strategically to structure a deal that was clearly in the best long-term interests of both of our clients,” said Rob Miller, Executive Vice President and Head of Asset Based Lending at Rosenthal. “We’re thrilled that we were able to help maximize the value of Prestige’s business to effectively transition the operations out of bankruptcy and back to a going concern business that is well positioned to succeed.”

“Thanks to Rosenthal’s vision and expertise, we were able to consummate the transaction with a key focus on serving Prestige's customers and supporting its employees,” said Nevil Shah, Principal of Sunrise Capital Partners.

For more information about this transaction, please contact Rob Miller at 212-356-0960 or rmiller@rosenthalinc.com.

ROSENTHAL HIRES MEGAN FLAHERTY, AS PURCHASE ORDER FINANCING DIVISION CONTINUES TO EXPAND

ROSENTHAL HIRES MEGAN FLAHERTY, AS PURCHASE ORDER FINANCING DIVISION CONTINUES TO EXPAND

(NEW YORK)June 5, 2017Rosenthal & Rosenthal, Inc., a leading private commercial finance company specializing in factoring, asset based lending and purchase order financing, today announced the appointment of Megan Flaherty as Assistant Vice President and Account Executive for ROSENTHAL TRADE CAPITAL. In her role, Flaherty will be responsible for account management and underwriting for the firm’s Purchase Order Financing division. The appointment was effective June 1, 2017.

 

For the past five years, Flaherty served as Vice President for Loan and Credit Operations at Salus Capital Partners, where she funded borrowers and managed collateral and related compliance reporting. She brings significant consumer product and retail industry experience to Rosenthal and is a timely addition to the team, given the firm’s robust new business activity.

 

“Rosenthal Trade Capital has expanded considerably since we first launched the division late last summer, and we’ve been fortunate to experience accelerated growth,” said Paul Schuldiner, Rosenthal Trade Capital Division Head. “I have no doubt that Megan’s demonstrated knowledge of the unique needs of consumer product companies and the overall credit environment will allow us to further broaden our client base.” 

 

 

ABOUT ROSENTHAL & ROSENTHAL

 

Rosenthal & Rosenthal (www.rosenthalinc.com) is the leading factoring, asset based lending and purchase order financing firm in the United States. Founded in 1938 by Imre J. Rosenthal, the firm is now led by the second and third generations of the Rosenthal family. As a privately held company, Rosenthal is committed to providing personalized service and flexible lending to clients across a broad range of industries.

Sydnee Breuer featured in the California Apparel News

Sydnee Breuer featured in the California Apparel News

How Are Finance People Handling the Weak Retail Market and Have They Adjusted Their Financing Rules for Clothing Manufacturers?

By Deborah Belgum

Many retailers are going through challenging times for sure, but we have not significantly changed our evaluation of them.

What many may perceive as changing is actually just a matter of more retailers struggling financially. This makes us request and look at more detailed information regarding their results and their projections.

For example, the same poor results posted for any given retailer in 2016/2017 would garner the same scrutiny if those results were posted in the boom years of retail.

Negative results are just that; there are just more retailers posting those poor results now than in the 1990s. Keep in mind that part of the equation on whether to finance the accounts receivables and/or additional support is the financial strength of our client and the people involved, taking into account the overall relationship.
— Sydnee Breuer, Executive Vice President, Rosenthal & Rosenthal

ROSENTHAL HIRES SEASONED BUSINESS DEVELOPMENT EXECUTIVE AS VICE PRESIDENT FOR WEST COAST

ROSENTHAL HIRES SEASONED BUSINESS DEVELOPMENT EXECUTIVE AS VICE PRESIDENT FOR WEST COAST

 
RosenthalLogo_SurfMaster.png
 

(NEW YORK)March 20, 2017Rosenthal & Rosenthal, Inc., a leading private commercial finance company specializing in factoring, asset based lending and purchase order financing, today announced the appointment of Ying Yang as Vice President. In her role, Ying will be responsible for business development across the firm’s divisions, with a particular focus on growing the West Coast client base. The appointment is effective March 13, 2017.

 

Ying is an experienced commercial finance executive, having spent over 13 years at CIT Commercial Services sourcing and closing factoring and asset based lending transactions.

 

“We’re thrilled to welcome Ying to the Rosenthal team and are fortunate to add yet another strong player to our already talented bench,” said Peter Rosenthal, President of Rosenthal. “With her solution-driven mindset, strong grasp of the credit environment and proven track record in the factoring and asset based lending space, I know Ying will be a perfect addition to our West Coast division.”

 

Fluent in Mandarin, Ying joins Rosenthal from CIT, where she served in a variety of roles, most recently as Vice President of Business Development for the Western Region. During her tenure at CIT, she held a number of other positions, including credit analyst, account executive and senior underwriter. She previously managed the underwriting team, which structured and closed factoring programs and facilities across the apparel, footwear, accessories, textile, furniture, home furnishing, consumer electronics and houseware industries.

 

“No one is more knowledgeable or trusted in this industry than Rosenthal,” said Ying. “I’m excited to be a part of expanding Rosenthal’s presence throughout the U.S. and around the world and look forward to our future success together.”

Rosenthal is hosting a Webinar for the Gift & Home Trade Association Members on March 9th

Rosenthal is hosting a Webinar for the Gift & Home Trade Association Members on March 9th

Upcoming Webinar: Simple Steps for Financing Your Future

Open To: GHTA Members Only

Date: Thursday, March 9 Time: 11AM - 12PM EST Presented By: Paul Schuldiner


Learn how to build a solid financial foundation for your growing gift and home business. Don’t let seasonality or large, unexpected orders knock you off course. From creating better cash flow to identifying the right financing solutions to thinking about how to balance growth with a need for capital, learn how to master the tips and tricks of the trade that drive growth and help you succeed.