Daily News: October 3, 2012

Magnolia Financial Hires Artman to Lead New Atlanta Office

Magnolia Financial has announced the opening of an Atlanta regional sales office, the third such satellite office for the asset-based lender. Magnolia Financial also has offices in Nashville, TN, and Raleigh, NC.

The Spartanburg-based company also announced it has hired Larry Artman to head its operations in Atlanta. A longtime financial industry executive in the Atlanta market, Artman previously was vice president and regional sales manager for Bay View Funding. Artman also has held senior business development and credit positions with Heller Financial, NationsBanc and Wells Fargo Business Credit. He is a member of the Commercial Finance Association, Global Capital Connection and the Atlanta Venture Forum.

“Larry has a proven track record of finding unique cash flow solutions for a diverse range of companies,” Magnolia Financial CEO Gerald Smith said. “Larry’s addition to our team and his leadership in our new Atlanta office will allow us to significantly increase our presence in that market.”

Founded in 1999, Magnolia Financial is an asset-based lender providing accounts receivable lines of credit to companies that typically are unable to secure traditional bank financing. Magnolia provides working capital lines of credit from $20,000 to $2 million.