Category Archives: ABL

ABL

Yelton Capital Network Names Hashagen as MD

By Joyce C. Dimaculangan

Yelton Capital Network is pleased to announce that Mary Clair Hashagen has joined the company as Managing Director. Based in Raleigh, North Carolina, Hashagen will serve clients and lenders nationwide.

Mary Clair Hashagen Yelton Capital NetworkA seasoned finance professional, she has several years of experience working for both banks and independent factoring organizations. She has extensive contacts in the Southeast and Mid-Atlantic and is known for her very personable and professional approach to client service. Her expertise includes commercial lending, small business lending, asset based lending, and business development.

Before joining Yelton Capital, Hashagen served as Vice President of Business Development at Magnolia Financial, Inc. in Cary, North Carolina. Previously, she worked at the Working Capital Finance divisions of Alternative, and First Citizens Bank. Earlier in her career, she managed sales operations in the high end apparel industry.

“We are excited to have someone of Mary Clair’s experience, knowledge and professionalism join our expanding network. She will greatly augment our factoring and lending practice,” said Barry Yelton, Managing Partner of YCN. “Our clients, lending sources, and associates will benefit from Mary Clair’s in depth knowledge of factoring and commercial lending.”

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Marquette Recruits Jay Garcia as Sr Vice President

By Joyce C. Dimaculangan

Marquette Business Credit announced that Jay Garcia has joined the business as Senior Vice President, Regional Portfolio Manager. In his new role, Garcia will manage the company’s loan portfolio in the Dallas and Atlanta offices.

Jay Garcia Marquette Business CreditGarcia has more than 18 years of experience in the finance and commercial lending industry, with an extensive background in credit management. He has a significant hands-on experience in asset based and cash flow lending, portfolio and risk management, underwriting new business, bankruptcy, workout resolution and developing and maintaining high-level customer relationships.

Prior to joining Marquette, he served as Senior Vice President at BBVA Compass for the Dallas/Forth Worth area. Before that, he held top leadership roles including as Senior Director – Senior Vice President at Capital One, Portfolio Manager at Guaranty Bank, and Vice President at Coamerica Bank. He also spent years of his career with Bank of America, FINOVA Capital Corporation, and Transamerica.

Garcia earned a Bachelor of Business Administration Degree in Finance from Red McCombs School of Business at the University of Texas at Austin and is also a graduate of the Southwest Graduate School of Banking at Southern Methodist University.

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Milberg Factors Welcomes Jeffrey Sesko as VP

By Joyce C. Dimaculangan

Milberg Factors, Inc., one of the largest factoring and commercial finance companies in the United States, is pleased to welcome Jeffrey Sesko as Vice President. In his new role, Sesko will be responsible for new business development in the Western Region. He will report directly to Dave Reza, who heads Milberg’s California office.

Jeffrey Sesko Millberg FactorsPrior to joining Milberg, Sesko served a similar role at Rosenthal & Rosenthal of CA, Inc. His expertise includes asset based lending, factoring, portfolio management, and financial structuring.

“We are pleased to welcome Jeffrey to our company. Jeff will help us find new opportunities, all while strengthening our client relationships and expanding Milberg’s presence with the accountants, bankers and lawyers on the west coast,” remarked Daniel R. Milberg Senior Vice President of Milberg Factors. “He is very well respected in the factoring industry and we are delighted to have him join our firm.”

Sesko holds an MBA in Finance from the University of New Haven and a bachelor’s degree in Economics from the Barney School of Business at the University of Hartford.

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Mark Brown Joins TAB Bank’s Business Dev’t Team

By Joyce C. Dimaculangan

TAB Bank announced that Mark Brown has joined its business development team as Vice President and Business Development Officer. Based in Atlanta, Georgia, Brown will be in charge of sourcing new business opportunities by providing asset-based and factoring working capital facilities to non-transportation commercial entities with annual revenues of $2 million to $150 million.

Mark Brown TAB BankBrown brings more than 24 years of banking experience, particularly in sales management, to his new role. He was instrumental in refining a new sales process at Advanced AR Funding, an affiliate of FTRANS, which led to the company being named to the Inc. 500 list of top growth companies three years in a row.

He spent 11 years with American Honda Motor Company, where he held roles in increasing responsibilities from being a Sales Representative to National Accounts Director for the U.S. Before he left the company, he was responsible for acquisition revenue targets and more than $110 million of base account revenue.

“Mark’s addition to our business development team is a big step in the direction of creating and nurturing relationships and opportunities with non-transportation companies in the southeast,” stated Daniel Rodrigue, National Sales Manager for TAB Bank. “Mark is very skilled in these areas and will be a great resource to the companies and business owners he will work with as part of TAB’s business development team.”

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MidCap Financial Appoints John Rosin as MD

By Joyce C. Dimaculangan

MidCap Financial recently announced that John Rosin has been appointed Managing Director – National Head of Originations of the MidCap Financial Services, LLC General Industries Asset Based Lending Group. Rosin brings more than 25 years of experience in asset based lending to his new role.

John Rosin MidCap FinancialAs a Managing Director, Rosin will be in charge of the national build out of the General Industries ABL team, which seeks to fill the void that has resulted from increased banking regulations that are forcing banks to exit or reduce lending to certain segments of the ABL market.

Prior to joining MidCap in 2014, he served as Managing Director at AloStar Bank. Before that, he served in senior leadership roles at GE Capital, Wells Fargo, and Fremont Financial. Throughout his career, he and his origination teams have been responsible for over 300 funded transactions with commitments and fundings exceeding $4.5 billion and $2.5 billion, respectively.

“John’s deep relationships and extensive experience in building teams and the origination of asset-based, leveraged cash flow and structured product financings will be critical for us as we build out our General Industries ABL platform,” stated Will Gould, President of MidCap Financial’s Specialty Finance Group.

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Merchant Financial Taps Jimmy Schwartz as SVP

By Joyce C. Dimaculangan

Merchant Financial Corporation announced that Jimmy Schwartz has joined the business as Senior Vice President and Senior Account Executive for its expanding ABL portfolio. He has more than 28 years of experience in Asset Based Lending, Middle Market Lending, and Factoring.

Jimmy Schwartz Merchant Financial CorpBefore joining Merchant, Schwartz spent 14 years at HSBC Bank USA, where he most recently served as Vice President. With HSBC, he was responsible for middle market lending focused on the apparel industry. Prior to that, he held senior management positions at CIT and Rosenthal & Rosenthal.

“We are most fortunate to have Jimmy join our team. He is a seasoned asset-based lending account executive and will enable us to sustain the growth of our ABL portfolio, which has been significant in the past few years,” said Neville Grusd, President of Merchant Financial. “Jimmy will also be involved in our business development efforts and will assist in the continued personal service and flexibility we offer our clients.”

Schwartz earned his bachelor’s degree from State University of New York at Oneonta. He is actively involved in both the New York and New Jersey Chapters of the CFA.

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Tiger Adds Carmen Posteraro as Senior Associate

By Joyce C. Dimaculangan

Tiger Valuation Services announced that Carmen Posteraro has joined the business as Senior Associate in the firm’s managing appraisal team. Based in Boston, Massachusetts, Posteraro reports directly to Ryan Davis, Director of Appraisals.

Carmen Posteraro Tiger GroupPosteraro has more than six years of experience in asset-based lending. Prior to joining Tiger, he served as Vice President, Relationship Manager in Santander Bank, where he was responsible for client relationship management and new business development within the Asset Based Lending group.

Before that, he was a Senior Commercial Analyst at People’s United Bank, and an Assistant Vice President, Credit Analyst – Retail Asset Based Lending at Salus Capital Partners. He started his career as a Collateral Asset Based Examiner, Asset Based Lending at Wells Fargo Capital Finance in Boston and went on to serve as a Senior Loan Analyst at BDC Capital in Wakefield, Massachusetts.

Tiger looks forward to Posteraro’s contribution to the team and the clients they serve. “Carmen brings invaluable knowledge and experience from both the consulting and banking sides of the asset-based lending industry,” remarked Davis.

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Aegis Business Credit Promotes Barbara Wilhelm

By Joyce C. Dimaculangan

Aegis Business Credit has promoted Barbara Wilhelm to Director of Operations. In her new role, she will be responsible for directing operations through growth and strategic initiatives.

Barbara Wilhelm Aegis Business CreditWilhelm joined Aegis through an affiliate in 1999. Prior to her promotion, she served the company as Operations Manager, where she provided direct supervision of the back office operations, including the primary day to day interactions with clients to process cash disbursements and collections.

She has more than 25 years of diversified industry knowledge, including 16 years of managerial experience in the finance industry.

Before Aegis, she spent 13 years as Chief Operating Officer at EnviroCap, LLC, a company that provides UST cleanup financing across the United States. Previously, she held top leadership roles at Fluor Daniel GTI, and Groundwater Technology.

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Shane O’Grady Joins TAB Bank as VP/BDO

By Joyce C. Dimaculangan

TAB Bank is pleased to announce that Shane O’Grady has joined the business as Vice President and Business Development Officer. Based in Phoenix, Arizona, he will be responsible for sourcing new business opportunities by providing asset-based and factoring working capital facilities to commercial entities with annual revenues of $2 million to $150 million.

Shane O'Grady TAB BankO’Grady has more than 20 years of experience in the finance industry. He comes to TAB Bank from Summit Financial Resources, where he served as Vice President, Business Development. Before that, he served a similar position at First Capital.

From 2006 to 2011, he served as a Senior Business Advisor at Madison Street Capital, an investment bank in Chicago, where he advised business owners on M&A and private equity transactions.

“Our goal is to create numerous opportunities for our working capital financing solutions to be offered to the many small and medium-sized commercial entities and businesses in the region. The addition of Shane to our business development team greatly enhances our ability to achieve these goals,” said Daniel Rodrigue, National Sales Manager.

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John Willis Joins Renasant Bank’s ABL Team

By Joyce C. Dimaculangan

Renasant Bank announced that John Willis has joined the business as Senior Relationship Manager in its Asset Based Lending division. This is part of the Bank’s expansion of its Asset Based Lending group in Atlanta. In this capacity, Willis will have responsibility for originating, underwriting, closing and managing asset based loans with the Southeastern U.S.

John Willis Renasant BankRenasant Bank is pleased to have Willis on board since he will be a great addition to its ABL team. Willis brings more than 30 years of experience in the banking and finance industry to his new role. Prior to joining Renasant Bank, he served as Vice President and Senior Business Development Officer at PNC Business Credit in its Jacksonville, Florida area.

Previously, he held a series of top management roles in various banking and finance institutions, including as First Vice President at SunTrust Bank, President at Mission Investment & Development, Inc., and Senior Vice President at GE Commercial Finance. He also worked at Wells Fargo Foothill, Bank South, and MNC Commercial.

Willis earned a bachelor in business administration degree in Finance from the University of Georgia and post baccalaureate studies in real estate from Georgia State University.

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