Bridge Bank is expanding its capital finance group, which now will be led by Timothy Carstens as managing director. Carstens joined Bridge Bank from Fifth Third Business Capital and will guide the specialized capital finance group from offices in Phoenix.
The capital finance team works with companies as part of Bridge Bank’s parent company Western Alliance Bank, which operates individually branded commercial banking divisions in Arizona, California and Nevada, as well as specialized financing groups serving businesses nationwide. Capital finance has been a focused business area at Bridge Bank for more than 15 years.
“We are bolstering our team and our focus on asset-based lending, providing the right products at the right time for today’s economic environment,” Dan Myers, CEO of Bridge Bank, said. “As business in a wide variety of industries and markets face new challenges, we are ready to offer solutions that make sense for their needs now to help them to manage through the current landscape.”
The capital finance lending group offers a range of asset-based and factoring solutions, including accounts receivable, inventory and invoice financing, to provide lines of credit and working capital. The group’s expertise supports companies in manufacturing, professional services, retail and technology.
“The customer-centric, entrepreneurial approach at Bridge Bank and Western Alliance is appealing, especially during this time when many businesses will need the tailored, asset-based lending solutions we offer to see their companies through,” Carstens said. “As we grow our group, the broad strengths of Bridge Bank and Western Alliance will benefit our clients across the country.”
A seasoned banking professional with more than 30 years of experience, Carstens most recently was director and senior vice president with Fifth Third Business Capital in Arizona. He began his career in asset-based lending with Wells Fargo, where he spent 20 years.