Gerber Finance completed it CEO succession strategy, naming longtime President Jennifer Palmer as CEO with Founder Gerald Joseph transitioning to strategic advisor and chairman of the board.
Gerber Finance launched a West Coast office. Ed Park is relocating from New York to Santa Monica, CA to lead the new office, assisted by Tammy Rouah.
Gerber Finance funded a C$3 million ($2.363 million) asset based credit facility for a capital projects consulting and advisory firm based in Ontario.
Gerber Finance expanded to the West Coast with the opening of its San Diego office. Industry veterans Rachel Donaghy and Lorraine Julius both joined the new office as vice president and senior relationship manager respectively.
Gerber Finance provided ABL financing support for River Hollow Partners’ funding effort to support Powerful, a food and beverage company. The company raised $4 million.
Gerber Finance provided a $2.5 million letter of credit to Dancing Deer, a national manufacturer and distributor of kosher certified, all-natural baked goods headquartered in Boston.