Daily News: March 19, 2015

Eastern Funding Promotes Gramaglia to COO

Eastern Funding announced a key, senior management change with the promotion of Stephen Gramaglia from executive vice president to the position of chief operating officer.

Gramaglia joined Eastern Funding in 1999 and formerly served at Medallion Financial, TLC Funding and CPC Services. In his new role, Gramaglia will oversee credit operations along with a number of the company’s business units including credit, documentation, loan servicing, customer service, sales and marketing, human resources, compliance, and information technology.

Michael Fanger, Eastern Funding’s founder and president noted, “Stephen’s experience in the specialty finance industry extends back to when he was a 20-year-old junior in college. Ever since he joined Eastern 16 years ago, he’s been a key member of our management team, and he’s played a vital role in our growth and commercial financing success. Stephen Gramaglia is extremely well-regarded within the company and by Eastern’s clients around the country. We look forward to the mix of experience, expertise, and outstanding leadership qualities that he brings to his new role as Eastern Funding’s chief operating officer.”

New York City-based Eastern Funding is a direct lending and commercial finance company, facilitating new and used equipment purchases, acquisitions and refinancing.