Cadence Bank rebranded AloStar Capital Finance to Cadence Business Finance. Along with its new name, logo and website, the rebranded company introduced new leadership and a realigned business focus to better serve the growth and operational needs of middle market businesses.
Norbert “Norb” Schmidt was appointed executive vice president and director of capital finance of Cadence Business Finance. Schmidt has spent the past nine years at AloStar, now Cadence Business Finance, and has more than 25 years of asset-based lending and commercial finance experience through his work at AloStar, Textron Financial, CIT and Chase Bank.
“Norb’s expertise in asset-based lending and specialty finance and his relationship-oriented approach are essential to the transformation of Cadence Business Finance,” Hank Holmes, president of Cadence Bank, said. “Norb has brought strategic reorganization and a positive energy to this division, strongly positioning it for future growth. This realignment brings a continued commitment to our clients’ long-term success.”
Cadence Business Finance offers asset-based financing to middle market companies such as manufacturers, distributors and service companies. The team works with companies to leverage a range of assets, including working capital assets such as accounts receivables and inventory, and longer-term assets comprising machinery, equipment and real estate.
“The relaunch to Cadence Business Finance is a constructive step in our commitment to support the long-term growth of middle-market businesses and asset-based lenders through flexibly structured financial solutions. This flexibility lets clients focus on their strategic and financial priorities, knowing that liquidity will be there for them when they need it,” Schmidt said. “Our knowledgeable team partners with clients to deliver financing in a responsible, secure, patient and experienced manner that’s earned us recognition as growth capital and turnaround experts.”