Charlie Perer outlines an emerging trend of bank-owned asset-based lending divisions conducting business in a fashion similar to non-bank asset-based lenders while gaining an advantage due to the ability to price like a bank.
Since announcing its entrance into the asset-based lending market less than a year ago, Wingspire Capital has established itself as a competitive player in the industry. David Wisen, John Rosin and Ken Wendler explain how creativity and remaining humble have powered their first-year success and growth plans.
CIT is an established name in the asset-based lending industry, but that hasn’t stopped it from continuing to evolve and innovate. In 2020 alone, the bank expanded its ABL division, hired a new ABL team leader and continued to close deals with its CIT Northbridge Credit joint venture, setting itself up for continued success in the marketplace.
The Paycheck Protection Program has been top of mind for many lenders, particularly banks. ABF Journal learned about the experience of bank-owned asset-based lending groups with the program as well as expectations and concerns for the future in conversations with four leaders in the industry.
A virus of acquisitions has enabled national and super-regional banks to bulk up over the last decade. Their smaller cousins — community banks — are often dismissed as warehouses for customer deposits and little more. Charlie Perer points out that when community banks acquire some some specialty lending platforms and pair them with deep hometown relationships, they can rival the big boys.
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.