SEPHARDIC BIKUR HOLIM HONORS THE ROSENTHAL FAMILY FOR THE PARTNERS IN KINDNESS AWARD

On Monday, June 27th Rosenthal was pleased to be honored at the Fourth Annual Sephardic Bikur Holim golf event with The Partners in Kindness Award.  Accepting the award on behalf of the Rosenthal Family was Peter Rosenthal, Cassie Rosenthal, Eric Bader, and Chris Sanjenis.  We were overwhelmed by the support shown that day and want to express our gratitude to all in attendance and those who donated.

 From left to right: Chris Sanjenis, Adam Winters, Marc Heller, Cassie Rosenthal, Eric Bader, Peter Rosenthal, and Lee M Cohen 

From left to right: Chris Sanjenis, Adam Winters, Marc Heller, Cassie Rosenthal, Eric Bader, Peter Rosenthal, and Lee M Cohen 

 

Sephardic Bikur Holim  is a non profit mental health and social service agency dedicated to caring for people in need with compassion, discretion, and respect.  They provide for health sustenance, support, and well-being of children and adults, the infirm and the disadvantaged through an ever-expanding spectrum of services, programs and resources.  At Sephardic Bikur Holim, their goal is to invest in families and individuals with strength and self-esteem so that they can rise with dignity to their utmost potential.

 

Gifts & Dec: How To Be An Even Better Entrepreneur

Gifts & Dec: How To Be An Even Better Entrepreneur

If you're like most entrepreneurs and small business owners in the gift and home industry, you likely wear a lot of hats. Perhaps you're pulling double duty designing new product lines while worrying about whether your accounting is in order. Or maybe you’re managing your company’s vendor relationships and simultaneously working to streamline your manufacturing process. As your business continues to thrive, it’s becoming more and more apparent that you can’t do it all, at least not on your own....

Cassie Rosenthal Receives the Inaugural Renaissance Award

Cassie Rosenthal Receives the Inaugural Renaissance Award

 February 25th, 2016


The New York Institute of Credit Women in Achievement Awards Presents Cassie Rosenthal with the Inaugural Renaissance Award.

The New York Institute of Credit (NYIC) was founded in 1918 as the New York Chapter of the National Institute of Credit (NIC). In 1957 NYIC was granted an absolute charter as an educational corporation by the Board of Regents of the State of New York. As a non-profit organization, NYIC has always attempted to bridge the gap between business theory and business practice. As a result, the faculty of NYIC consists of educators who are primarily credit executives or prestigious and articulate accountants or lawyers who are appreciative of the value of a close alliance of the professions. The synergetic education created out of that special relationship has been effective and acknowledged. The administration of the NYIC is conducted by Trustees, elected Officers and a staff which is headed by the Executive Director.

Rosenthal & Rosenthal, Inc. announces financing to Browne Trading Company

Rosenthal & Rosenthal, Inc. announces financing to Browne Trading Company

Rosenthal & Rosenthal, Inc. announced that with the assistance of KCP Advisory Group, LLC it has completed new financing to Browne Trading Company, Inc. the premier supplier of fresh fish, fine caviar, shellfish, and smoked seafood to elite, Michelin star rated restaurants and home kitchens across the US. The revolving line of credit is comprised of advances against the company's receivables and inventory.


In addition to refinancing previous lenders, the proceeds will be used to support working capital requirements.   Jacen Dinoff of KCP Advisory Group indicated that "Rosenthal & Rosenthal was determined to be the right financial partner for Browne Trading Company due to their creative financing and flexibility to support the company through their restructuring".

"We are pleased to have Rosenthal & Rosenthal as our lending partner as we continue to restructure our operations.  The team at Rosenthal showed amazing interest in our story and moved quickly to structure a facility that will allow us to capitalize the company's position for significant growth" said Rod Mitchell, president of Browne Trading Company.

Rosenthal & Rosenthal, Inc. is a leading factoring and asset based lending 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, including manufacturing, apparel, food & beverage, technology, jewelry, accessories, real estate and art lending.

KCP Advisory Group is a leading business advisory firm built on the success of seniorprofessionals who specialize in providing creative solutions and aiding clients in rehabilitating their businesses. KCP renders services spanning a range of advisory roles from consulting to interim leadership.

ROSENTHAL PROMOTES EXECUTIVES TO LEAD WEST COAST OPERATIONS

ROSENTHAL PROMOTES EXECUTIVES TO LEAD WEST COAST OPERATIONS

Long-Time Finance Executive Harry Friedman Retires After 40+ Years in Factoring and Asset-Based Lending Business

 

 

(LOS ANGELES) – January 5, 2016 – Rosenthal & Rosenthal, Inc., a leading private commercial finance company specializing in factoring and asset based lending, today announced the appointments of Sydnee Breuer as Executive Vice President and Western Region Manager and Jeffrey Enoch as Executive Vice President and Western Region Portfolio Manager. The appointments are effective January 4, 2016.

 

Breuer and Enoch are both seasoned commercial lenders and instrumental in the success of the 78-year-old family-owned firm’s multi-billion dollar factoring business. They succeed current Executive Vice President Harry Friedman, who announced his plans to retire this year after more than 12 years at Rosenthal and more than 40 years in commercial finance.

 

“Sydnee and Jeff’s reputations in the industry are unparalleled. Under their leadership, I am confident Rosenthal will continue to expand its already substantial footprint in the West Coast commercial finance market,” said Kenneth Kleiner, Executive Vice President and Chief Marketing Officer for Rosenthal. “We are grateful to Harry for giving Rosenthal every ounce of his expertise and energy over the last 12 years. He has been integral in hiring top-notch talent and developing hundreds of client relationships, all of which have contributed to the firm’s aggressive growth over the past decade.”

 

At Rosenthal, Breuer oversees new business for the West Coast and develops relationships with middle market companies. Before joining Rosenthal in 2009, Breuer, a 25-year veteran in the Los Angeles commercial finance industry, served in a wide range of senior-level factoring positions at CIT, spanning business development, account management, underwriting and credit. Breuer has an MBA from Pepperdine University and a BA in Economics from Rutgers University.

 

“I am eager to take on this new challenge to continue to expand Rosenthal’s reach in the West Coast region,” said Breuer. “We’ve been fortunate to have experienced solid growth during my tenure at Rosenthal, and I look forward to cultivating new relationships across new markets and industries in 2016.”

 

Enoch leads the portfolio side of Rosenthal’s West Coast business, developing and managing client relationships. A 35-year veteran in the business, he joined Rosenthal in 2004 from GE Capital and has held previous senior roles at NationsBank and CIT. Enoch holds a degree in Finance from Baruch College.

 

“Rosenthal’s legacy in the industry is really a testament to our clients,” said Enoch. “I look forward to continuing the long tradition of providing clients with the personalized service, flexibility in lending and expertise that they have come to expect from Rosenthal.”

 

 

ABOUT ROSENTHAL & ROSENTHAL

 

Rosenthal & Rosenthal (www.rosenthalinc.com) is the leading factoring and asset based lending 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, including manufacturing, apparel, food & beverage, technology, jewelry, accessories, real estate and art lending.

 

 

 

       Rosenthal Supports American Cancer Society Making Strides Against Breast Cancer      After many years of supporting the American Cancer Society, specifically Making Strides Against Breast Cancer, we are proud to honor this organization by displaying our partnership in our ground floor windows on 37th and Broadway.  If you don't have the opportunity to pass by our office, check out the graphics below!  We cannot wait to participate in the walk on October 18th and hope you join us!           
 
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Rosenthal Supports American Cancer Society Making Strides Against Breast Cancer

 

After many years of supporting the American Cancer Society, specifically Making Strides Against Breast Cancer, we are proud to honor this organization by displaying our partnership in our ground floor windows on 37th and Broadway.  If you don't have the opportunity to pass by our office, check out the graphics below!

We cannot wait to participate in the walk on October 18th and hope you join us!   

 

ACS1.png

ABF Journal

ABF Journal

 

Privately Owned and Ready to Grow: Miller’s ABL Journey Takes Him Back to Rosenthal & Rosenthal

By Phil Neuffer

 

California Apparel News

Industry Focus Finance: How Will Mergers in the Factoring Business Affect Clothing Manufacturers?

By Deborah Belgum - Thursday, July 30, 2015


 Sydnee Breuer, Executive Vice President, Rosenthal & Rosenthal

Sydnee Breuer, Executive Vice President, Rosenthal & Rosenthal

With the recent mergers and acquisitions between banks and factors, how do you expect this to affect the factoring business? Will it make it more difficult or more expensive for manufacturers to get factored?

When a bank owns a factor, bank regulation can dictate what deals can get approved or not. Decisions are not necessarily based on the collateral or the people, which are two very important criteria for factoring and lending money.

As an independent factoring and finance company, Rosenthal & Rosenthal looks at the totality of the deal—not just the balance sheet and not just the profit and loss. We also take into account the story behind the deal, the people behind the deal and the performance of the collateral.

Over many years, banks have owned factors and banks have sold factors. For any individual deal, it may become more expensive or more difficult as that manufacturer needs to find replacement financing/factoring should the bank-owned factor want to exit the relationship—or not be able to increase the support as the business needs change.

However, Rosenthal has seen a large increase in our factoring business over the years, being able to provide the factoring and financing when the bank-owned factors are unable or unwilling to.

Too much stress in your business?

Gift & Decorative Accessories Magazine

July 2014 issue


Deco Breeze tells GDA how Rosenthal & Rosenthal has become an invaluable financial partner. Learn how their factoring services have helped their friends at Deco Breeze concentrate on what matters in their business.

GDA: Historically your industry has had minimal dealings with traditional factors. How did you get acquainted with factoring?

Punit: My background was in the apparel industry where everybody uses a factor. When we started we knew we needed a factor behind us to drive our growth.

GDA: How does a factor augment your growth?

Jeff: Speaking from the sales side, we use Rosenthal to make sure our customers are credit worthy and our collection efforts are professionally managed. Generating sales in today’s economy is tough enough and you don’t want a bad debt to ruin an otherwise strong year. They have more manpower and resources to investigate the customers. Typically our customers may be reluctant to share information with us that they will share freely with them.

Punit: When they approve a customer’s credit they guaranty the fi nancial ability of the customer. If the customer doesn’t pay the factor takes the bad debt. You can sleep at night if you have credit approval.

GDA: But not all customers are approved.

Jeff: Some customers are only partially approved and some are declined completely .But we can make our own decisions as whether to ship them or not, and the receivables remain eligible for borrowing purposes.

Phil: As important, we call them for advice on a new customer-you don’t want to go through the time and expense of servicing a new customer to fi nd out they’re not creditworthy. The advice is invaluable.

Jeff: The customer can build its credit with the factor and have more purchasing power with us and other suppliers. We’d like to see more companies in our industry use a factor. The more dealings the factor has with our customers the more we would all benefi t.

Punit: Furthermore, the factor can play the role of the bad guy. They turn down the customer, not us. The factor becomes a buffer between us and our customer when payments come due and I can rest more easily knowing I’m not pitching a sale simultaneously while calling for money.

GDA: In addition the factor handles your cash application processes. Don’t you feel like you lose control over your customers if the factor has all the contact?

Punit: We have control where we want it, on the sales side. They relieve us of the functions that we as entrepreneurs don’t want to handle. We use their personnel who are more experienced and knowledgeable than anybody we could ever hire. All of the fi xed costs become variable costs that reduce as you grow.

GDA: Some companies only use the services described but you use factoring for financing as well.

Punit: We borrow against our receivables and inventory with specifi c formulas for each and have the ability to exceed those formulas for seasonal needs.

GDA: They helped you make an acquisition. How?

Punit: We were buying a company of similar size that would enable us to double our sales and diversify. They financed the purchased assets and provided additional funding to get us through the initial period when we had to restore a damaged supplier base. They understood the benefi ts of the deal and gave us a quick approval.

GDA: Couldn’t you do this with a traditional lender?

Punit: No way! They are privately owned and the decision process is fl exible and fast. In our business whether we are making an acquisition or seeing a surge in business, we have to react quickly. A bank moves too slowly.

Phil: They touch our business daily through receivable management. They know how strong our customers are and how our accounts perform. They’re living our business and are more comfortable taking a risk. They understand seasonality, which many businesses in our industry battle with. Many lenders are uncomfortable stretching formulas during your busy season. Rosenthal works with you not against you.

GDA: Aren’t the costs prohibitive?

Punit: That’s a gross misconception in our industry. Many of the factors are expensive. But Rosenthal plays in a different market, competing in New York against major players in the middle market arena.

Jeff: The rate for the outsourced services are more than offset by savings on our side and we get credit coverage as well. At worst it’s a wash and we’re probably well ahead when added up.

Punit: Interest rates for borrowing are competitive with banks without all the fringe costs like audit fees, facility fees, and unused line fees. Getting delayed in a bank approval process can cost you signifi cantly in lost sales or supply side costs due to cash fl ow strains while you wait for approvals.

GDA: One last question –why Rosenthal and Rosenthal?

Punit: Rosenthal is 75 years in business and family owned throughout. They know the market inside out and deal with numerous clients who share our same concerns. They anticipate the rough patches often before we do and their insights are invaluable. They are a great partner to have.