Berkshire Bank completed its asset purchase transaction with 44 Business Capital of Blue Bell, PA and Parke Bank of Sewell, NJ. Berkshire Bank has acquired the business model of 44 Business Capital and certain other assets of Parke Bank’s Small Business Administration (SBA) 7(a) loan program operations.

44 Business Capital is now operating as a direct small business lending division of Berkshire Bank reporting up through the bank’s already established Small Business line of business, and originating SBA loans for Berkshire Bank.

44 Business Capital’s entire team, along with its leadership, Greg Poehlmann, Phil Rapone, Jeff Sherry and Joe Dreyer have joined Berkshire Bank.

“As a division of Berkshire Bank, 44 Business Capital will continue to leverage our staff’s national experience to build out an exceptional SBA lending platform that will serve the SBA’s mission on a larger scale,” said Greg Poehlmann, senior vice president of Business Banking for Berkshire Bank and former president of 44 Business Capital. “We are extremely excited to become part of Berkshire Bank and look forward to establishing ourselves collectively as a major player in the SBA lending market, both regionally and nationally.”