July/August 2008
Learning to Swim in a Smaller Pool…
ABLs Struggle With Unstable Economy

Healthcare Lenders See Banner Year Ahead
By Darryl Seland, Freelance Writer

Although all sectors of the economy are currently feeling the pinch, for healthcare finance companies, the tide is staying the same and in some areas, is rising. In an annual check up, we asked three healthcare lenders to share their views of the vital signs of today’s healthcare finance field. (Ref # LSP030)

Healthcare M&A Is Dependent Upon Community-Needs Assessment
David A. Rock, Carl Marks Healthcare Partners

David Rock, managing partner at Carl Marks Healthcare Partners, shares some thoughts on healthcare practice M&A. Success depends on the interdependence between the organization and the community it serves.

(Ref # LSP031)

Second Lien: Tempered, Not Torrid … But Here to Stay
By Stuart Papavassiliou, Senior Editor

This month, ABF Journal chats with Colin Cross at Crystal Capital to get the lowdown on second lien lending in the middle market. While second lien loan volume is down from the highs of early 2007, the product — Cross assures us — is here to stay. (Ref # LOAN001)

Asset-Based Lending Provides Relative Value Bargains
By Maria C. Dikeos, Reuters Loan Pricing Corporation

It has not been a good start to the year in the loan space. And despite some hints of market stabilization in Q2/08, recovery remains tenuous. Even stalwart, counter-cyclical debt products like ABL have not been immune to the fallout. (Ref # LOAN002)

Profile of Success

Breath of Fresh Air: Core Business Credit Hits the Ground Running
By Amanda L. Gutshall, Assistant Editor

In a time when many traditional ABLs are starting to feel the heat, Core Business Credit was launched by Michael Haddad as an independent lender focusing on the middle market.

(Ref # EXEC059)

Special Series: Private Equity

Greener Lending Pastures… An Idea Whose Time Has Come
By Thomas Bonney, CMF Associates

In the current ‘Green’ culture, it’s becoming even more important for asset-based lenders to keep pace with the commercial market’s stand to reap substantial benefits. However to do so, might mean making increased eco-friendly innovations of your own. (Ref # GP033)

Columns

FACTORING FOCUS

Construction: The Love-Hate Relationship for Factors
By James DiCamillo, Resource Management Partners

Many commercial finance enterprises hear about the very good return on buying and collecting on construction contractor and subcontractor receivables. Yet, a surprisingly small number of factors will actually engage this sector. Why the reluctance? (Ref # FAC081)

TURNAROUND CORNER
With the Clock Ticking, Healthcare CEO’s Have Little Room for Error
By Michael Sandnes, Executive Sounding Board Associates

Healthcare CEOs need a good game plan when the Chapter 11 clock ticks … one that demonstrates the flexibility need afterwards to address changing circumstances. (Ref # TM082)

LEGAL EYES

The Top 10 Reasons Companies That Should Make It … Don’t
By Bobby Guy and Robert J. Welhoelter, Waller Lansden Dortch & Davis

Just a year ago, worldwide credit markets were being hailed as experiencing an historical expansion in liquidity. Faced with a tide that has definitely turned, lenders find themselves revisiting some practices from the not so distant past. (Ref # LGL086)