Category Archives: ABL

ABL

Dane Smith Hired as Finance Officer at Fleet Financing

By Joyce C. Dimaculangan

Fleet Financing Resources recently hired Dane Smith as Finance Officer. In his new role, Smith will work in the commercial transportation equipment finance sector to cultivate existing and build new relationships, with a focus on manufacturers, dealers, and operators.

Dane Smith Fleet Financing ResourcesSmith brings to FFR more than two decades of experience in the transit services and motor coach industry. Before joining the company, he worked at Lin Lines, Inc. as Operations Manager, as well as at Sunline Transit Agency as transportation center supervisor.

“We are very excited to welcome Dane to the Resources family. He brings to us and our customers tremendous knowledge and is well respected throughout the transportation industry for his accomplishments,” remarked FFR President and CEO Dave Reynolds. “Dane truly shares our vision, passion and above all, our commitment to providing our customers with elite, unmatched commercial vehicle financing.”

About Fleet Financing Resources
Headquartered in Riverside, California, Fleet Financing Resources offers a wide range of funding solutions, focusing on commercial vehicle fleet leasing and financing of used or new titled transportation equipment. Established in 2002, the company counts more than 3,800 customers across the US.

FFR is a leading specialty lender in the country, with more than $400 million in assets originated since its creation. The company focuses on A and B credit quality. It offers funding of up to $350,000 through its Application-Only program, while it conducts a full financial statement analysis for certain credit types or bigger transactions. For more information, visit www.ffresources.com.

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Michael Fuoti Hired at EverBank Commercial Finance

By Joyce C. Dimaculangan

Michael Fuoti recently joined EverBank Commercial Finance’s equipment finance team as Business Development Manager. In his new position, Fuoti will seek infrastructure and equipment asset financing opportunities across the marine, rail, and intermodal sectors, as well as generate indirect opportunities in transport sectors through institutional investors.

Michael Fuoti EverBank Commercial FinanceFuoti brings to EverBank more than 20 years of extensive experience in originations, syndication, structuring, and placements, with expertise in project finance, infrastructure assets, and transportation equipment.

Most recently, he worked at Commonwealth Bank of Australia as Director, Structured Asset Finance. Other career positions he has held include BB&T Equipment Finance Corporation as Corporate Account Executive, Transportation; SVP at both Genesis Capital Corporation and RBS Asset Finance; a director at CIT Group; and Vice President at Conell Finance Company.

EverBank Capital Equipment Finance Managing Director Ken Walters said, “Michael has a long history of successful transaction executions and closings with a deep understanding of the industry. We’re excited to have him on the team and to draw on his expertise.”

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Chris Lehnes Joins North Mill Capital as SVP/BDO

By Joyce C. Dimaculangan

Veteran small business lender Chris Lehnes was recently appointed as Senior Vice President and Business Development Officer of Princeton-based North Mill Capital LLC. In his new role, Lehnes will work with businesses that require credit facilities between $100,000 and $30 million and grow North Mill Capital’s asset-based lending and factoring relationships with them.

Chris Lehnes North Mill CapitalLehnes brings to the company over two decades of experience in the industry. Before joining North Mill Capital, he served as Senior Vice President of loan originations for Gibraltar Business Capital, where he was in-charge of originating factoring and asset-based lending transactions for a regional commercial finance company.

In addition, he has experience with business development of non-recourse factoring programs involving small and medium-sized businesses. His background includes handling loan documentation, credit analysis, operations management, marketing, as well as business development at CIT Small Business Lending and Business Loan Express.

Lehnes obtained a BA in Economics and Business from Lafayette College. He is a member of several organizations, including Turnaround Management Association, BCA Business Development Group – Westport Group, Stamford Business Group and Association for Corporate Growth.

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Marc Heller Named CIT Commercial Services President

By Joyce C. Dimaculangan

CIT Group announced the appointment of Marc Heller as President of CIT Commercial Services. Before his promotion, he was CIT Commercial Services’ Northeast Regional Manager and International Manager. He will report directly to CIT Business Capital President Steve Solk.

Marc Heller CITHeller brings to his new role over 40 years of banking experience. Prior to joining CIT in January 2004, he served as HSBC Business Credit’s Executive Vice President and Regional Manager in New York.

Referring to Heller’s appointment, Solk said, “He’s played an important role within CIT Commercial Services and is well regarded for developing and growing client relationships and for delivering best-in-class financing solutions. I’m looking forward to working with Marc and his team as they continue to develop and expand our factoring and financing platform.”

Heller is a recipient of a number of industry awards, including the Financial Services Industries Award from the American Jewish Congress, the Partners in Kindness Award from Sephardic Bikur Holim and the Community Achievement Award from ORT.

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Richard O’Keefe Tapped as ABL/BDO at Southern Bank

By Joyce C. Dimaculangan

Richard O’Keefe has been named Business Development Officer with a specialty in commercial lending  at The Southern Bank Company. In his new role, O’Keefe is responsible for developing new business opportunities, creating customized financial solutions as well as building the Bank’s brand among the commercial finance community.

Richard O’Keefe The Southern Bank CompanyO’Keefe brings an extensive experience in commercial finance with many years working in asset-based lending and factoring business development roles to The Southern Bank Company.

Most recently, he served Advance Financial Corporation as a Business Development Officer, where he worked closely with startup and growth-oriented companies by crafting tailored working capital solutions to meet their changing business needs.

“Richard brings a level of expertise to the bank that supports our growing focus on providing financing for businesses who are looking for alternative, or non-traditional financing options,” remarked Gates Little, President of The Southern Bank.

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Steve Janson Named SVP at MB Business Capital

By Joyce C. Dimaculangan

MB Business Capital has named Steve Janson as Senior Vice President. Based in the company’s new office in Charlotte, North Carolina, Janson will be responsible for new business development in North Carolina, South Carolina, and Southeast and Southwest Virginia.

Steven Janson MB Business CapitalJanson brings to his new role over 22 years of experience in the banking and finance industry. He has an extensive background in asset based lending and has been recognized as a top producer with Chairman’s Circle award for sustained excellence in business development. Throughout his career, he has sourced credit facilities from $8MM to $200MM.

Prior to joining MB, he served BB&T Asset Based Lending as a Senior Vice President focused on manufacturing, distribution and business services. He has also had experience at PNC Business Credit, LaSalle Business Credit, Delta Air Lines and Credit Suisse First Boston and NationsBank.

“We are very happy to welcome Steve Janson to our team and to be opening a new office in Charlotte as part of our growth initiative,” said Mike Sharkey, President of MB Business Capital.

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Kevin Nowak Hired as SVP at TCF Capital Funding

By Joyce C. Dimaculangan

TCF Capital Funding welcomes seasoned leveraged lender Kevin Nowak as Senior Vice President. Nowak brings to his new role over 16 years of experience in the sponsor finance market, with most of that time focused on the lower middle market.

Kevin Nowak TCF Capital Funding“We are very excited to have Kevin join our team,” remarked Joe Gaffigan, TCF Capital Funding’s President. “Kevin’s extensive lending experience and lower middle market relationship focus make him an important addition to our team as we continue to serve our growing national portfolio of clients.”

Previously, Nowak served as Director for Fifth Third Bank, where he was responsible for business development, transaction execution, underwriting and portfolio management. During his tenure there, he developed substantive relationships with private equity sponsors and expanded the group’s presence in the Northeast US.

Before Fifth Third Bank, he spent five years of his career with MFC Capital Funding as Vice President. Previously, he was an Associate at BMO Capital Markets.

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Jack Louden Tapped as BDO at Triumph Business Capital

By Joyce C. Dimaculangan

Triumph Business Capital, provider of invoice factoring solutions to small and medium sized businesses, announced that Jack Louden has joined the company as Vice President, Business Development Officer. As VP, he is in charge of promoting Triumph Business Capital’s general factoring services in the West and Midwest regions.

Jack Louden Triumph Business CapitalLouden has more than 20 years of experience in business to business sales and finance. He joins Triumph Business Capital from Riviera Finance, where he served as Business Development Manager responsible for delivering cash flow solutions to the Colorado and Wyoming market.

Previously, he was self-employed for 18 years where he recruited, trained and managed sales associates and managers.

“Jack brings the right amount of experience and skill to promote our general factoring service to small and medium size businesses in a range of industries, from temporary staffing to manufacturers to government contractors,” commented Blaine Waugh, Senior Vice President, Business Development.

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Nancy Kalman Added as VP at Triumph Business Capital

By Joyce C. Dimaculangan

Triumph Business Capital welcomes seasoned sales executive Nancy Kalman as Vice President, Business Development Officer. In her new role, Kalman will promote the company’s general factoring services in the West and Midwest regions.

Nancy Kalman Triumph Business Capital“Triumph Business Capital is perfectly positioned to continue its leadership in transportation finance as well as offering non-transportation small and medium sized enterprises a comprehensive and competitively priced general factoring product,” said Blaine Waugh, Senior Vice President, Business Development.

Kalman joins Triumph Business Capital with over 20 years of experience in the financial services industry and an extensive background in the secured lending market place. Her areas of expertise include commercial lending, financial modeling, and asset based lending.

Most recently, she handled Business Development at Hilco Trading Company. She also worked for Bank of America Business Credit, FGI Finance, and Wells Fargo Trade Bank.

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MB Business Capital Taps Susan Davis as SVP

By Joyce C. Dimaculangan

MB Business Capital announced the hiring of Susan M. Davis as Senior Vice President, Relationship Manager. Davis will be in charge of managing a portfolio of asset based lending customers. She will be based in Rosemont, Illinois.

MB Business Capital“We are so glad to have Susan join the MB team. Her years of asset based lending experience and knowledge will be an outstanding addition to our talented team,” commented Mike Sharkey, President of MB Business Capital.

Davis has over two decades of experience in asset based lending, including portfolio management, underwriting, loan work-outs and field examination.

Prior to joining MB Business Capital, she served Bank of America Business Capital/LaSalle Business Credit. During here tenure there, she managed a portfolio of asset based loans. Before that, she worked for Fremont Financial Corporation, Asset Based Lending Consultants, LLC, and SunTrust.

Davis earned a Bachelor of Science degree in Finance from Florida State University.

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