July 07, 2010

CORE Business Credit, a member of Core Financial Group, announced today that it has provided a $15,250,000 credit facility to The Fragrance Outlet (TFO) Headquartered in Miami, TFO is a leading specialty retailer of brand name fragrances, cosmetics and related products. TFO has retail stores in over 60 retail malls in 23 states, Puerto Rico and Guam. The credit facility consisting of a revolving line of credit and term loan will be used in part to recapitalize the company as well as provide for working capital needs and other general corporate purposes. TFO is a portfolio company of Parallel Investment Partners.

Jed Johnson, a Managing Director with Parallel Investment Partners, commented, "We are delighted to continue our relationship with CORE Business Credit. We look forward to another successful partnership between Parallel, CORE and another terrific Parallel portfolio company."

CORE EVP Milton Iskra stated, "We enjoyed the opportunity to work with TFO and Parallel on this financing. Given the improvements being made to IT systems, along with recent additions to management, this company will continue to have successful growth."

About Parallel Investment Partners. Parallel Investment Partners is the leading institutional private equity firm focused exclusively on investing in North American lower middle-market growth companies. Parallel manages over $400 million of institutional private equity capital commitments and targets equity investments of $5 - $20 million. Since 1992, Parallel has successfully invested over $600 million of equity capital in 35 owner-operated growth companies.

CORE Business Credit provides asset based as well as senior secured stretch loans nationally to middle market companies with credit requirements between $7 million and $30 million. Structures are flexible and funds can be utilized for strategic acquisitions, dividend recapitalizations or refinancing, as well as to support internal growth and management buyouts.

June 09, 2010

CORE Business Credit, a member of Core Financial Group, announced that it has provided an $8,000,000 revolving line of credit to Moosejaw Mountaineering, a leading multi-channel retailer of premium quality outdoor apparel and equipment. Headquartered in Madison Heights, MI, Moosejaw currently serves its customers through seven retail stores in Michigan and Illinois, a significant online business as well as seasonal catalogs. The financing will be used to fund working capital requirements as well as other potential growth opportunities. Moosejaw is a portfolio company of Parallel Investment Partners and Glencoe Capital.

Moosejaw CEO Harvey Kanter stated "We are pleased to have established a new revolving line of credit with Core. The new facility provides Moosejaw with additional capital to continue its rapid growth as a leading multi-channel retailer as well as to more aggressively pursue additional growth initiatives to continue capturing customers and market share."

CORE EVP Milton Iskra stated, "We are excited to have the opportunity to support Moosejaw. The Company has an outstanding management team, unique marketing strategy and very exciting brand. We look forward to assisting the company in its continued growth and success."
CORE Business Credit provides asset based as well as senior secured stretch loans nationally to middle market companies with credit requirements between $7 million and $30 million. Structures are flexible and funds can be utilized for strategic acquisitions, dividend recapitalizations or refinancing, as well as to support internal growth and management buyouts.

About Parallel Investment Partners. Parallel Investment Partners is the leading institutional private equity firm focused exclusively on investing in North American lower middle-market growth companies. Parallel manages over $400 million of institutional private equity capital commitments and targets equity investments of $5 - $20 million. Since 1992, Parallel has successfully invested over $600 million of equity capital in 35 owner-operated growth companies.

About Glencoe. Founded in 1993, Glencoe Capital is a private equity firm focused on lead-sponsored acquisitions and growth equity investments in lower middle-market companies. The firm has completed over 30 acquisitions, representing over $1 billion of transaction value. Glencoe Capital currently manages two funds: the Glencoe Capital Michigan Opportunities Fund, L.P. and Glencoe Capital Partners III, L.P.

May 19, 2010

CORE Business Credit, a member of Core Financial Group, announced that it has provided an $8,000,000 revolving line of credit to Laser Pacific, a six-time Emmy Award winning post production film services provider located in Hollywood, California. The facility will provide ongoing working capital support for the company in conjunction with its acquisition from Eastman Kodak Company by H.I.G. Capital.

CORE EVP Milton Iskra stated, “We are pleased to have this opportunity to support Laser Pacific, its talented management team, and H.I.G. Capital, in a new lending relationship as we continue to deliver workable financing solutions to the middle market. We look forward to assisting Laser Pacific in its continued growth and success.”

“Throughout the financing process, the CORE team was a very professional and reasonable financing partner. They worked closely with our team to meet a tight timeline, and we look forward to a continued strong relationship with them,” said David Rosen, Laser Pacific’s Chairman.

CORE Business Credit provides asset based as well as senior secured stretch loans nationally to middle market companies with credit requirements between $7 million and $30 million. Structures are flexible and funds can be utilized for strategic acquisitions, dividend recapitalizations or refinancing, as well as to support internal growth and management buyouts.

February 24, 2010

CORE Business Credit, a wholly owned subsidiary of Core Financial Group, announced it has provided a $12,500,000 revolving credit facility to The Grateful Palate, headquartered in Fairfield, CA. The financing replaced their previous bank facility and will be used to support The Grateful Palates working capital needs as well as other general corporate purposes. The Grateful Palate is an importer of fine wines from Australia, including Shiraz, Grenache Cabernet, and Chardonnay, which it sells to distributors nationwide.

Dan Philips, the Grateful Palates CEO, said, "It was a pleasure working with CORE on a financial solution for the company, as they were creative in providing a workable solution to our request." CORE President and CEO Michael Haddad stated, "We are pleased to have this new lending relationship and we strive to bring workable financing solutions to good companies during these uncertain times. We look forward to assisting The Grateful Palate in its continued growth and success."

CORE Business Credit provides asset based as well as senior secured stretch loans nationally to middle market companies with credit requirements between $7 million and $30 million. Structures are flexible and funds can be utilized for strategic acquisitions, dividend recapitalizations or refinancing, as well as to support internal growth and management buyouts.

January 15, 2010

Today CORE Financial Group joined the thousands of others around the world in pledging a financial commitment to assist the efforts being made for the survivors of the earthquake in Haiti.

January 13, 2010

CORE Business Credit, a wholly owned subsidiary of Core Financial Group, announced it has provided a $15,500,000 revolving credit facility to Plastican, Inc., headquartered in Leominster, MA. The financing will be used to support Plastican's working capital needs as well as other general corporate purposes. Plastican, Inc. is a vertically integrated manufacturer of rigid plastic packaging solutions for both the industrial and consumer retail markets.

John Clementi, Plastican's, CEO said, "We are delighted to have financing provided by an institution that supports family owned companies and believes in products made in America. In doing so, CORE is helping to rebuild America."

CORE President and CEO Michael Haddad stated, "We are pleased to have this new lending relationship and continue to deliver workable financing solutions to good companies during a very strained credit market. We look forward to assisting Plastican in its continued growth and success."

CORE Business Credit provides asset based as well as senior secured stretch loans nationally to middle market companies with credit requirements between $7 million and $30 million. Structures are flexible and funds can be utilized for strategic acquisitions, dividend recapitalizations or refinancing, as well as to support internal growth and management buyouts.

December 08, 2009

CORE Business Credit, a member of Core Financial Group, announced that it has provided a $24,000,000 revolving line of credit and term loan to Stronghaven, Inc., headquartered in Atlanta, Georgia with additional operations in both North Carolina and Florida. The financing will be used to recapitalize the company, provide for working capital needs as well as other general corporate purposes.

“Stronghaven is a privately held middle market company, with a leadership position as one of the largest manufacturers of corrugated packaging and displays in the Southeast United States”, noted Doug Johnston, President and CEO.“Through working together on this credit facility, it quickly became clear that CORE is an excellent fit for us since both the credit facility falls perfectly within CORE’s commercial finance benchmarks on size and also, both CORE and Stronghaven take a similar approach to business, with experienced, flat organizations and an entrepreneurial approach.” Larry Samples, CFO of Stronghaven, Inc., commented: “It was refreshing and a pleasure to deal directly with individuals in CORE that are the decision makers. I am very pleased with this structure and new lending relationship.”

CORE President and CEO Michael Haddad stated, “We are pleased to have Stronghaven as a new lending relationship and we will continue to deliver workable financing solutions to good companies during this troubled credit market. We look forward to assisting Stronghaven in its continued growth and success.”

CORE Business Credit provides asset based as well as senior secured stretch loans nationally to middle market companies with credit requirements between $7 million and $30 million. Structures are flexible and funds can be utilized for strategic acquisitions, dividend recapitalizations or refinancing, as well as to support internal growth and management buyouts.

October 20, 2009

CORE Business Credit announced today that it has provided a $10,000,000 revolving line of credit to a growing middle marketing leasing company. The credit facility will be used to support the company’s nationwide leasing and lending activities as well as for general corporate purposes.

CORE President and CEO Michael Haddad stated, “We continue to deliver customized creative financing solutions to a variety of good companies during a very strained credit market, and look forward to our new client’s continued success.”

CORE Business Credit provides asset based and lender finance facilities as well as senior secured stretch loans to middle market companies with credit requirements between $7 million and $30 million. Structures are flexible and funds can be utilized for strategic acquisitions, dividend recapitalizations, and refinancing, internal growth and management buyouts.

October 07, 2009

CORE Business Credit, a wholly owned subsidiary of Core Financial Group, announced it has provided a $29,000,000 revolving credit facility to The Longaberger Company, headquartered in Newark, OH. The financing will be used to support Longaberger's working capital needs as well as other general corporate purposes. The Longaberger Company is America's premier maker of handcrafted baskets and offers other life style products including pottery, wrought iron, fabric accessories and specialty foods. There are approximately 45,000 independent Home Consultants located in every state throughout the nation.

Tami Longaberger, The Longaberger Company's CEO said, We are delighted to have financing provided by an institution that supports family owned companies and believes in products made in America. In doing so, CORE is helping to rebuild America. We look forward to many years with CORE." Stephanie Imhoff, the company's CFO added, CORE's approach to lending was a breath of fresh air starting with their proposal through the closing. We appreciated working directly with their decision makers and their creative approach to lending. CORE's entire team was easy to work with, and we appreciated the time they spent with us to get to know our team and our business.

CORE President and CEO Michael Haddad stated, CORE is pleased to establish a lending relationship with this unique and exciting company with a history in excess of 30 years. We look forward to assisting the Longaberger Company in its continued growth and success.

CORE Business Credit provides asset based as well as senior secured stretch loans nationally to middle market companies with credit requirements between $7 million and $30 million. Structures are flexible and funds can be utilized for strategic acquisitions, dividend recapitalizations or refinancing, as well as to support internal growth and management buyouts.

September 15, 2009

CORE Financial Group (CORE) is pleased to announce the closing of a $225 million dollar senior credit facility with Autobahn Funding Company, LLC, an asset-backed commercial paper conduit sponsored by DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main (DZ BANK). This multi-year committed facility expires in 2013 and represents a $100 million dollar increase in the existing credit facility of $125 million dollars.

CORE, based in Dallas, is a diversified commercial finance company that provides asset-based, venture debt and film finance loans and middle market lease facilities. This credit facility will be used to support the growth of the asset based lending platform.

The asset based lending loans are typically secured by accounts receivable, inventory, equipment and owner-occupied real estate. CORE is targeting prospects with annual revenues of $35 million to $500 million, and financing needs of $7 million to $30 million, with larger facilities syndicated. Financing will be provided to middle market companies, in a variety of industries throughout the United States. Loan structures can include revolving lines of credit, senior secured term loans as well as senior secured stretch loans. These facilities may be used for refinancing, leveraged buyouts and recapitalizations as well as for internal growth.

CORE’s CEO, Michael Haddad stated “with a significant abundance of dry powder and no legacy problems in the portfolio, this increased facility will support our goal of becoming one of the premier commercial finance companies in the U.S. by providing creative and flexible capital solutions, timely decisions and certainty of close. He added further that “DZ BANK has been an excellent partner and has been very supportive of our efforts.”

DZ BANK Group is the fifth largest bank in Germany with total assets of approximately $600 billion (as of December 31, 2008). DZ BANK provides a wide variety of products and services to institutional, corporate and private clients worldwide, including in capital markets, structured finance, corporate finance, private banking and transaction banking. Autobahn Funding Company LLC is an asset-backed commercial paper conduit sponsored and administered by DZ BANK. Since its inception in April of 1999, Autobahn has committed over $8 billion in transaction volume. Current aggregate funding commitments to its clients are approximately $4 billion.

April 01, 2009

American Capital, Ltd. (Nasdaq:ACAS) announced today that it has completed the combination of three portfolio companies within its Financial Services Group to create Core Financial Group, a diversified commercial finance holding company. The strategic combination brings together Core Business Credit (“Core”), an asset-based lender, Velocity Financial Group (“Velocity”), a venture debt finance and middle market equipment leasing company, and Oceana Media Finance (“Oceana”), a film finance company. Each company will maintain its market presence under its current name while benefitting from the strong capitalization and synergies resulting from the combination.

“American Capital’s Financial Services Group invests in strong management teams to build industry leading enterprises within the financial services space,” said Bob Grunewald, Managing Director, Financial Services Group. “We are very pleased with the progress of Core, Velocity and Oceana. By bringing these firms together onto one platform, we have created a well-capitalized, diverse commercial finance company that will take advantage of the attractive risk-return opportunities in this market.”

ABOUT CORE FINANCIAL GROUP
Core Financial Group is a diversified commercial finance company headquartered in Dallas with offices in Atlanta, Boston, Chicago, Houston, Los Angeles and Silicon Valley. It serves as the holding company for the following business lines:

- Core Business Credit: Core makes asset-based loans secured by accounts receivable, inventory, equipment and owner-occupied real estate. It serves clients with financing needs of $7 million to $30 million.

- Velocity Financial Group: Velocity finances companies backed by top tier venture capital firms and leases technology and other equipment to middle market companies in $1 million to $5 million transactions.

- Oceana Media Finance: Oceana provides short term financing to fund the production and marketing of feature films with financing needs of $2 million to $7 million. For more information about Core Financial Group, visit www.corefg.com.

ABOUT AMERICAN CAPITAL FINANCIAL SERVICES GROUP
The Financial Services Group offers capital solutions for consumer and commercial finance, insurance and asset management companies. The Group invests throughout the capital structure, including senior debt, subordinated debt and equity, and investments up to $400 million in each transaction. Companies interested in learning more about American Capital's Financial Services Group should contact Bob Grunewald, Managing Director, at (301) 951-6122.

ABOUT AMERICAN CAPITAL
American Capital is a publicly traded private equity firm and global asset manager. American Capital, both directly and through its asset management business, originates, underwrites and manages investments in middle market private equity, leveraged finance, real estate and structured products. Founded in 1986, American Capital has $14 billion1in capital resources under management and ten offices in the U.S., Europe and Asia. For further information, please refer to www.AmericanCapital.com.

1As of December 31, 2008.
“Core, Velocity and Oceana are known for their creative, reliable and relationship-driven approach to lending. This combination will enhance our ability and extend our national reach to serve our clients,” said Michael Haddad, CEO of Core Financial Group.

January 07, 2009

Core Business Credit and Velocity Financial Group announced their planned combination. This strategic combination will create a well-capitalized and highly efficient diversified commercial finance company. Core, an asset-based lender, and Velocity, a venture debt finance and middle-market equipment leasing company, will operate under one holding company.

“The combination of the businesses will enhance returns, strengthen our balance sheet and increase liquidity, while creating a more diversified suite of products,” said Michael Haddad, CEO of Core Business Credit. “Most importantly, it positions us to better serve our clients and execute on our promise to bring both creative capital and reliable results to our customers.”

“By bringing these firms together to create one platform, Core and Velocity are forming a much larger, more diversified specialty finance business,” said Frank Cirone, CEO of Velocity. “The combined company will be positioned to not only weather the current economic storm, but also take advantage of attractive risk-return opportunities in this market.”

Core and Velocity expect to consummate the combination by the end of the first quarter 2009.

Core was launched in May 2008, and provides asset-based loans secured by accounts receivable, inventory, equipment and owner-occupied real estate.

Velocity lends to venture capital backed companies, and also leases mission critical technology equipment and software to middle-market companies.

October 08, 2008

CORE Business Credit (CORE) announced it has provided a revolving credit facility totaling $20,000,000 to Westrim, Inc., headquartered in Van Nuys, CA. The financing facility will be used to support Westrim’s working capital needs as well as general corporate purposes. Westrim is a designer and distributor of craft supplies.

Fred Gysi, Westrim’s CFO said, “We chose CORE due to their flexibility and decisive action. They delivered what they promised and we look forward to a good working relationship.”

CORE President and CEO Michael Haddad stated, “We continue to deliver workable financing solutions to good companies during a very strained credit market, and look forward to assisting Westrim in its growth and success.”

CORE Business Credit provides asset based as well as senior secured stretch loans to middle market companies with credit requirements between $7 million and $30 million. Structures are flexible and funds can be utilized for strategic acquisitions, dividend recapitalizations, and refinancing, internal growth and management buyouts.

September 26, 2008

CORE Business Credit (CORE) announced it has provided a revolving credit facility totaling $19,200,000 to New England Confectionery Company (NECCO), headquartered in Revere, MA. The financing facility will be used to support NECCO’s seasonal working capital needs as well as general corporate purposes.

NECC dates it start back to 1847 and is the oldest multi-line candy company in the United States. The company manufactures timeless candy classics such as NECCO Wafers, Sweethearts, Mighty Malts and Mary Jane.

CORE President and CEO Michael Haddad stated, “We are pleased to be involved in financing this long standing company and assisting in its growth and success.”

CORE Business Credit provides asset based as well as senior secured stretch loans to middle market companies with credit requirements between $7 million and $30 million. Structures are flexible and funds can be utilized for strategic acquisitions, dividend recapitalizations, and refinancing, internal growth and management buyouts.

August 12, 2008

CORE Business Credit has named Paul Martin Executive Vice President and Chief Credit Officer. Paul, with over 25 years of experience in both asset-based, commercial and corporate financing will be responsible for the oversight of all portfolio and credit functions.

Prior to joining Core, Paul was Executive Vice President and Chief Risk Officer with First Horizon. Before First Horizon, Paul spent 17 years with HSBC Bank USA and its predecessor company, Marine Midland Bank, initially in Asset Based lending where he was responsible for managing five regional offices encompassing the western half of the United States, with his last ten years in various credit roles including Senior Vice President and Head of Credit Policy, Executive Vice President and Deputy Chief Credit Officer and Chief Credit Officer. Prior to HSBC, Paul was with Shawmut Bank of Boston and began his career with Bank of Boston’s Asset Based Lending Group.

In a recent interview with Paul: “We are very enthusiastic about the volume of lending opportunities we are seeing. I believe the “credit crunch” has helped bring traditional asset based lending back into fashion. Our success in driving new business opportunities is largely attributable to our flexibility; our creative approach to finding structures that meet both ours and our client’s needs. We are well positioned for the future with solid access to capital, a strong team, a healthy appetite for transactions and an active marketplace.”

Paul will be a member of the senior management team and reports to Michael Haddad, President and CEO, who commented: “We are thrilled to have someone like Paul join us with the breadth and depth of experience that he has. His varied exposure to different asset classes will afford us tremendous flexibility as we continue to expand.”

CORE Business Credit, headquartered in Dallas, Texas, and backed by American Capital, provides asset based credit facilities between $7 million and $30 million. CORE, with total capitalization of $425 million, also has satellite offices in Los Angeles, Atlanta and Houston.

June 10, 2008

CORE Business Credit is pleased to announce the commitment of $300 million of subordinated debt and equity from American Capital Strategies Ltd. (Nasdaq: ACAS). In addition, CORE has secured a $125 million senior credit facility with Autobahn Funding Company, LLC, an asset-backed commercial paper conduit sponsored by DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main. This makes CORE’s total committed capitalization in excess of $425 million.

CORE Business Credit, based in Dallas, plans to predominately make asset-based loans secured by accounts receivable, inventory, equipment and owner-occupied real estate. CORE is targeting customers with annual revenues of $35 million to $500 million, and financing needs of $7 million to $30 million, with larger facilities syndicated. CORE’s senior management team members, consisting of Michael Haddad, President and Chief Executive Officer, and Executive Vice Presidents Milton Iskra, Paul Martin and Ken Cichocki, have invested alongside American Capital.

Financing will be provided to middle market companies, in a variety of industries throughout the United States. Loan structures will include revolving lines of credit, senior secured term loans as well as senior stretch loans. Credit facilities may be used for refinancing, leveraged buyouts and recapitalizations as well as for internal growth.

CORE’s mission is to become the premier commercial finance company in the U.S. by providing creative and flexible capital solutions, timely decisions and certainty of close. In addition to its strong financial backing from American Capital Strategies, CORE's key strength is the expertise of its senior management team who has significant lending experience across a broad range of industries, capital structures and asset classes. Our senior executives, all of whom are equity owners, promote a “can do” attitude and an approach that will ensure integrity and superior customer service.

“This investment from American Capital combined with the commercial paper line provided by DZ will help CORE establish a reputation for being a well-capitalized, nimble and premier service provider, which is fully able to compete with a wide spectrum of larger companies,” said Michael Haddad, CEO of CORE. “We look forward to working with American Capital and leveraging their knowledge and expertise in financial services.”

American Capital is the only private equity fund and the largest alternative asset management company that is a member of the S&P 500. With $19 billion in capital resources under management, American Capital is also the largest U.S. publicly traded alternative asset manager. American Capital, both directly and through its global asset management business, is an investor in management and employee buyouts, private equity buyouts, and early stage and mature private and public companies. American Capital provides senior debt, mezzanine debt and equity to fund growth, acquisitions, recapitalizations and securitizations. American Capital and its affiliates invest from $5 million to $800 million per company in North America and €5 million to €500 million per company in Europe.

DZ BANK is among the five largest bank groups in Germany with total assets of over $650 billion (as of December 31, 2007). DZ BANK provides a wide variety of products and services to institutional and corporate clients worldwide, including in capital markets, structured finance and corporate finance. Autobahn Funding is an asset-backed commercial paper conduit sponsored and administered by DZ BANK. Since its inception in April of 1999, Autobahn Funding has committed over $7 billion in transaction volume. Current aggregate funding commitments to its clients exceed $4 billon.

May 19, 2008

Bethesda, MD – May 19, 2008 – American Capital Strategies Ltd. (Nasdaq: ACAS) announced today that it has committed $300 million to Core Business Credit, a newly-formed commercial finance company that will provide asset-based financing to middle market companies nationally. American Capital's investment takes the form of subordinated debt and equity. Core's senior management team members, consisting of Michael Haddad, President and Chief Executive Officer, and Executive Vice Presidents Milton Iskra, Paul Martin and Ken Cichocki, are also investing alongside American Capital. In addition, Core has secured a $125 million senior credit facility with Autobahn Funding Company, LLC, an asset-backed commercial paper conduit sponsored by DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main. This makes Core's total committed capitalization in excess of $425 million. Read Full Press Release Here.