Michael Clain Featured in Crain's NY Business "Middle Market Roundtable"
The March 18, 2019 edition of Crain's NY Business featured a middle market roundtable, which assembled thought leaders on a range of pressing issues.
Michael Clain, Partner and member of the Financial Transactions Practice Group, contributed extensively to the conversation. Among many questions posed to the panel, Crain's asked: Are there any new sources of financing that have recently become available to middle-market companies?
Michael: Middle-market financing is constantly evolving to keep up with technology and more closely match the needs of the market. For instance, supply chain finance programs, through which large buyers provide financial support to their vendors, are moving downstream and growing rapidly; competition among merchant cash-advance companies, which provide financing to restaurants and other hard-to-finance cash businesses, is bringing down rates; and fintechs are teaming up with banks to provide faster and more automated services to small and midsized businesses to provide a customer experience that feels more like consumer lending.
Michael's practice focuses on the structuring, negotiation, and documentation of a variety of credit products, including broadly syndicated corporate loans, asset-based loans, cash flow loans, trade and supply-chain finance, the purchase and sale of individual loans and loan portfolios, and the workout of troubled assets. His clients include money-center and regional banks, foreign banks, investment funds and finance companies.View PDF