According to the Secured Finance Network, since new California disclosure rules were implemented in December 2022, 40% of respondents were found to be “no longer lending” to prospective borrowers who fall within the regulations’ threshold of less than $500,000.
Timothy (Tim) Serritella joined Celtic Capital as senior vice president-client development for the Central Midwest (Illinois, Iowa, Minnesota, Mississippi and Wisconsin).
Anthony Gomez joined Celtic Capital as senior vice president of client development for the Pacific Northwest. Gomez has been in the commercial banking industry and a part of the region’s business community for more than a decade.
Fourshore Partners acquired Celtic Capital, a financial services company specializing in asset-based lending to middle-market companies in the United States.
Cindy Mustard rejoined Celtic Capital as senior vice president of Client Development for the Eastern Midwest.
Nabil Istafanous joined Celtic Capital as senior vice president of Client Development for the Pacific Northwest. He succeeds Steve Shaughnessy, who recently retired.
Celtic Capital announced that management has reacquired Celtic from PacWest Bancorp. CEO Mark Hafner said it was an optimal time to reacquire and recapitalize Celtic as a private entity.