Republic Business Credit hired Chris Costello as senior vice president, underwriter. Costello will join Republic’s New Orleans office, reporting directly to the head of Underwriting, Brian Daray.
Costello is a seasoned professional with extensive experience in asset-based lending (ABL), bringing a wealth of credit, portfolio and transaction expertise to Republic’s ABL capabilities.
Costello joins Republic with a distinguished lending career in secured finance, including seven years as a field examiner and, most recently, 12 years in underwriting and portfolio management for Capital One Bank.
Costello has a proven track record successfully managing diverse ABL portfolios, including lender finance, tax lien lending and traditional ABL, ranging from $5 million to $250 million facilities. Concurrently, Costello was instrumental in implementing innovative training and operational processes that enhanced efficiency, integration and compliance in his previous role.
“Chris’s deep understanding of the ABL market makes him an invaluable addition to our team,” said Brian Daray, senior vice president, underwriting manager at Republic, said. “His expertise will be instrumental in delivering exceptional service to both potential and current clients.”
“Republic is a nationally recognized industry leader in the commercial finance and secured lending markets, and I am thrilled to join this exceptional team,” Costello said. “I look forward to contributing to Republic’s continued growth and success across its suite of ABL, e-commerce and factoring products.”
The ABL market continues to grow in popularity due to its flexibility, structure and enhanced risk mitigations, and Republic remains at the forefront of this industry development.
“2024 was a record-breaking year for Republic, with over $100 million in newly funded credit facilities, and 60% of our new clients were seeking ABL products,” Stewart Chesters, CEO of Republic, said. “Adding experienced professionals like Chris to our team strengthens our ability to provide the best experience to our clients. We remain committed to partnering with entrepreneurs and private equity firms, enabling their success with the help of our growing product team.
