Oxford Commercial Finance, a subsidiary of Oxford Bank, expanded its line of working capital solutions for small to medium-sized businesses with the addition of purchase order financing as an add-on to the lender’s accounts receivable and asset-based loan products.
Robyn Barrett, senior vice president and managing director of Oxford Commercial Finance, a subsidiary of Oxford Bank, was named incoming president of the American Factoring Association for a two-year term.
Crestmark funded more than $215 million for small businesses through the Paycheck Protection Program (PPP), part of the CARES Act stimulus package.
Crestmark promoted Christopher Soupal to Crestmark executive vice president and Government Guaranteed Lending Division president.
Crestmark appointed IT expert Howard Brown senior vice president and chief technology officer. Brown will be based at the company’s corporate offices in Troy, MI and report to President and COO Mick Goik.
Crestmark promoted James G. Farrell to senior vice president Eastern Division sales manager. The company also hired Vince Hamilton as vice president, account executive for the Eastern Division.
Crestmark promoted Ray Morandell to executive vice president, national sales director. Morandell worked for GE Capital and Textron Financial before joining Crestmark in 2008.