The top three industries utilizing asset-based lending
in 2007 were retail, steel and food.
Prior to CIT he held positions at Heller Financial, as executive vice president and head of asset-based lending
, as we well as at Citicorp and Security Pacific Business Credit.
Petty began his career at Celtic Bank in 2009 as a relationship and operations manager in the bank's Asset-Based Lending
division, and more recently served as the Credit and Operations manager and lead underwriter.
will allow us to better serve emerging-growth businesses, to provide new solutions within a historical discipline.
Sterling National Bank, the principal subsidiary of Sterling Bancorp (NYSE: STL), has said that Ernest Pelli has joined its Asset-based Lending
division as managing director.
Investors Bank announced the joining of Sam Cirelli as vice president and business development executive of the Asset-Based Lending
The team's expertise spans commercial and asset-based lending
across a full array of businesses and sectors, with a specialization in the regional seafood industry.
Birmingham law firm Wragge & Co has advised the KBC group on the undisclosed sale of asset-based lending
division, KBC Business Capital, to NYSElisted PNC Financial Services Group.
The key aspects of the proposal were: (1) to raise the small-bank asset threshold from $250 million to $500 million thereby allowing more banks to benefit from streamlined CRA evaluations; and (2) to allow examiners to reduce a depository institution's CRA rating if the institution engaged in a pattern or practice of abusive asset-based lending
RELATED ARTICLE: Available option asset-based lending
In this environment, corporate finance and accounting professionals can help their companies identify an alternative money supply source: asset-based lending
Borrowers are restructuring their loans, and are realizing that asset-based lending
is a viable alternative and, in some cases, results in increased borrowing capacity.