Coeur Capital launched a transportation financing division, CCT Factoring. Kim Kringen will lead the new division as president and managing director. She will be responsible for the division’s day-to-day operations.
Kringen’s career in the factoring industry started in 1999, and CCT is the third factoring business that she has co-founded. Most recently, she was vice president at FirstLine Funding, the Madison, SD-based transportation factoring division of First Bank & Trust. Kringen is an active member of the International Factoring Association and a regular IFA Conference attendee. She also has hosted transportation factoring classes and served on educational panels.
CCT will factor carriers running over the road and specialty businesses, including dump haulers, last mile carriers, couriers and auto haulers.
Coeur Capital also hired Brendan Dete as a partner. He will manage Coeur Capital’s day-to-day activities alongside Bud Crawford and David Ebinger.
Most recently, Dete was EVP and COO of Action Capital, an Atlanta-based specialty lender. Prior to Action Capital, he founded Libertas Financial, a small ticket factor, and managed the business with Crawford before selling it to Firstline Funding in 2016. Dete started his career as an investment banker and private equity associate, holding positions at Lehman Brothers and H.I.G. Capital.
Coeur Capital is a commercial finance company serving small and medium-sized businesses.