John Gullman began his career in the mid-1970s, a time when asset-based lending (ABL) was dominated by independent finance companies and rarely offered by traditional banks. Throughout his decades in the industry, he has witnessed a major shift in how these institutions operate. Early on, he observed a disconnect where collateral issues were often secondary to credit, leading to significant challenges. As banks expanded into the space, Gullman saw the industry move toward self-contained ABL units. “This approach spread to origination as well as portfolio management and underwriting,” Gullman notes, “allowing these units to be more efficient and help contain losses.”
Gullman’s most enduring contribution to the specialty finance foundation is his role as a pioneer in Florida’s ABL community. After spending his early career in the established markets of Philadelphia and Chicago, he moved to South Florida and realized the region lacked a focused lender network. In 1981, he collaborated with a few experienced professionals to start the Secured Lenders of South Florida, which eventually became the SFNet South Florida chapter. Since then, he has worked with countless executives to develop the Florida market and has dedicated himself to mentoring the next generation of ABL professionals.
Reflecting on his start in the industry, which coincided with the prime years of the first generation of collateral-based professionals, Gullman values the lessons learned from those early encounters. However, his advice to his younger self would be to take a more active role in industry-wide education from the start. “Unlike today, where education is stressed industry-wide, back then you were left to learn on your own or only how it was done in your particular shop,” he explains. By championing community-building and mentorship, Gullman has ensured that the specialized knowledge of ABL continues to flourish and evolve.
