Cannariato Joins Sterling Bank ABL Team

Lawrence “Larry” Cannariato joined Sterling National Bank’s Asset-Based Lending division as vice president, senior underwriting manager. He will report to Michael Haddad, president of Capital Finance.

Sterling Provides $4.6MM Facility to McCollister’s Transportation

Sterling National Bank provided a $4.6 million credit facility to McCollister’s Transportation, a full service moving and storage company.

Sterling Acquires NewStar Business Credit, Haddad to Lead ABL Unit

Sterling Bancorp has acquired NewStar Business Credit for $112 million. Michael Haddad, former NSBC president, will manage Sterling’s asset-based lending business.

NewStar Business Credit: A CORE Acquisition Creates the ‘Newest Star’ in the ABL Firmament

Late last year, NewStar Financial announced it intended to add asset-based lending to its product offerings by acquiring CORE Business Credit, causing something of a positive stir in the commercial finance community. ABF Journal asked NewStar’s chairman and CEO Tim Conway and CORE’s Michael Haddad to discuss the rationale behind the acquisition.