Transactions

A wage advance provider serving the restaurant industry advances earned wages and digital tips to employees at the end of each shift, recovering the funds through employer-approved payroll withholding. North Fork Partners provided a senior secured term loan to fund the advance program, collateralized at all times by non-delinquent program receivables and cash held in dedicated control accounts. The facility freed the company’s equity capital for growth and was sized above current utilization so it can scale with employee adoption.

North Fork Partners has lent to a digital media rights company since 2020, beginning with a bridge loan that grew through successive amendments into a facility secured by a library of more than 40,000 films and television episodes. When advertising rates across streaming platforms compressed, we restructured rather than exited: covenants were reset to the market, the owners contributed subordinated capital, and the facility was refinanced into an amortizing term loan.

A wholesale life insurance brokerage generated recurring cash flow from commissions on policy sales and renewals, but prior credit and default history closed conventional channels. North Fork Partners segregated carrier-paid commissions into a trust account, creating a defined pool of collateral. The structure perfected our lien and enabled the borrower to meet required debt service.

North Fork Partners made an equity investment in a family-owned manufacturer whose distribution network materially exceeded its production capacity. Funds acquired machinery and expanded the company’s product lines. North Fork continues to act as advisor, having implemented the corporate structure the next stage of growth required, including policies and procedures and cost appropriation.