BofI Federal Bank, a subsidiary of BofI Holding, announced the expansion of its Commercial and Industrial Lending, Lender Finance Division (C&I) under the leadership of Patrick Walsh and Salvatore Salzillo.
BofI Federal Bank’s C&I lending platform focuses on providing financing solutions to specialty finance companies with needs ranging from $10 million to $40 million and provides asset-based financing to specialty finance companies such as asset-based lenders and factors; equipment finance and leasing companies; transportation asset managers; merchant cash advance; consumer companies; and real estate private lenders.
“BofI has a strong brand and reputation in providing debt capital to real estate private lenders and we look forward to gaining greater market recognition for the other asset classes financed by the Bank’s Lender Finance Division to add to our strong reputation in real estate warehouse and term facilities for real estate private lenders,” said Greg Garrabrants, president and CEO of BofI Federal Bank. “With a collective lending experience of over 60 years, the C&I senior management team of Pat Walsh and Sal Salzillo provides creative solutions to specialty finance companies that are looking to raise debt capital.”
Prior to his role as senior vice president, head of C&I at BofI Federal Bank, Walsh was a senior vice president with Carriage Hill, a boutique investment bank based in New York City, where he was responsible for advising shareholders of privately held middle-market companies to identify and structure debt and equity capital, assess acquisitions and strategic divestitures. He has held executive roles at CapitalSource, Cerberus Capital Management and GE Capital.
Salzillo, senior vice president, C&I risk manager at BofI Federal Bank, served as director at KeyBanc Capital Markets and Key Equipment Finance where he established and managed syndications for specialty finance companies and advised on corporate and project loan and equipment lease syndications for clients across various industries. He has held executive roles at GE Capital and Marathon Asset Management.