ABL Lenders Face Challenges, But Expect Strong Economy to Keep Them Afloat

Every year, ABL lenders face new challenges. Last year, people were nervous about the impact of prospective tax cuts. This year, the effect of tariffs has both borrowers and lenders shaking their heads. ABL lenders are facing increasing competition as 2019 prepares to roll in. Lisa Miller catches up with five top ABL executives who look back at 2018 and anticipate a strong year ahead.

Sterling National Bank Expands Specialty Finance Team

Sterling National Bank expanded its Specialty Finance team by with the addition of new hires Sharon Bender, Dennis Phelps, Stephanie Lunn Szymanski and Andrew Schuster.

Sterling Provides $20.5MM in Facilities to Pinnacle

Sterling National Bank provided senior secured credit facilities totaling $20.5 million to Pinnacle Climate Technologies.

Sterling Expands Commercial Banking/Finance Teams

Sterling National Bank expanded its Commercial Banking and Commercial Finance business units with four new hires in New York and New Jersey.

Sterling Expands Long Island Banking Team

Sterling National Bank added Tammy Leisen, Karen Bauer and Caryl Caponito to its new Municipal Banking team on Long Island, NY.

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 $5.7MM LCP Machine Facility to Support Acquisition

Sterling National Bank provided credit facilities totaling $5.7 million to LCP Machine to support its acquisition by Miami-based private equity firm, White Wolf Capital.

Sterling Adds 11 Members to Commercial Banking Teams

Sterling National Bank added 11 new hires to its Commercial Banking and Commercial Finance teams. The team members will be located in Long Island, Westchester County, NY, the New York Metro area and the West Coast.

Tree Line Expands Lower Middle Market Lending with $267MM of New Capital

Tree Line Capital Partners expanded its lower middle-market direct lending platform with $267 million of new capital. The company also promoted Frank Cupido to partner.

Adkins Joins Sterling National Bank Commercial Services Team

C. Terry Adkins has joined Sterling Bank as vice president and managing director of commercial services. Adkins will report directly to Adam Dejak, SVP of Sales at Sterling.