TD Bank said it has promoted Joseph A. Iannuccilli to vice president, business development officer in Asset-Based Lending. He will be responsible for ABL relationships across the Mid-Atlantic region.
Wells Fargo Capital Finance’s Barry Bobrow writes to the CFO to explain the benefits of stepping outside the traditional loan structure and into an asset-based facility. Using some case studies as an example, Bobrow is able to highlight why choosing an ABL structure better fits the needs of certain borrowers in an ever evolving market.
Over the past two decades, banking has changed radically. From the rise of interstate banking to new regulation and financial reform, asset-based lending has maintained static — until now. Triune managing director Timothy Alexander asks, “Can you teach an old ABL dog new tricks?”
Federal National Commercial Credit now offers asset-based lending to provide a better financing fit to more small businesses. Federal National said it can now serve companies with diverse assets types or customers and receivables that are not as well served by a factoring approach.
Although today’s economic environment leaves many middle- and lower middle-market companies struggling to secure capital, it allows asset-based lenders to develop creative strategies and identify overlooked areas of opportunity to realize considerable returns, while enabling access to liquidity for these businesses.
Bob Kassebaum joined the Asset Based Lending group at Triumph Commercial Finance as National Alliance manager. He previously worked at TAB Bank, Marquette, Merrill Lynch and Heller Financial.
Traditionally, the Midwest, with its concentration of privately held manufacturing and distribution companies, has been fertile ground for middle-market asset-based lenders. Today, the ABL market in the region is heating up due to hungry new competitors and existing lenders expanding their reach. For companies looking to increase their borrowing needs, the market is wide open. And for lenders, the challenge is to grow while maintaining appropriately priced and structured asset-based loans.
ABF Journal illustrator, Jerry Gonzalez’ visual interpretation of a top-ranked abfjournal.com news story according to our visitors.
For Barry Kastner it’s always been a matter of trusting his instincts and striking the right balance. And it’s no surprise that the 33-year veteran of Congress Financial and its successor, Wachovia Capital Finance, assimilated the qualities of strong credit discipline and a customer-centric approach to find himself in the top ABL spot at America’s ‘most convenient bank.’