Daily News: March 14, 2012

FGI Hires Arron as VP, Business Development, Opens Toronto Office

FGI Finance has announced the opening of its new Canadian office in Toronto and the appointment of Jordan Arron as the new vice president of Business Development for that region. In this position, Arron will be responsible for developing the Canadian market and building relationships with other lenders, commercial finance companies, equity sponsors and intermediaries there.

FGI has been working in Canada for the past five years, financing companies’ working capital needs. Fredy Ramsoondar, CEO of United Protection Security Group Inc., an Edmonton-based security company whom FGI recently helped finance, said, “Bringing FGI into the picture increased our borrowing capacity size by 50%. With FGI’s streamlined service and expertise, United’s finally been given the chance to expand its business organically and by acquisitions.”

Arron brings over seven years of commercial financing experience to his new position at FGI, including extensive supervision and relationship management throughout the Greater Toronto area. Arron worked at the Business Development Bank of Canada (BDC) where he focused his efforts on new client acquisition for mid market Term Loan Financing solutions. “With FGI’s unique position within the industry and their dedication to expand into the Canadian market, I am thrilled about the opportunity to be taking part,” said Arron. “I look forward to contributing to and being a part of such a dynamic team.”

“We are excited about bringing the FGI presence to Canada, a country crucial to our continued growth. After years of participating in the Canadian asset-based lending market, now is the time to expand,” says David DiPiero, president and CEO of FGI Finance. “Jordan, with his extensive background and expertise within the region, will help carry the FGI tradition into this territory.”

FGI Finance is a commercial finance firm that helps middle-market companies by providing them with various financial products, business loans and financial services to meet their financing needs.