Oxford Commercial Finance, a subsidiary of Oxford Bank, recorded $64 million in funding for small and mid-sized businesses in 2023, its first full year in business.
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.
During its first year in business, Oxford Commercial Finance, a subsidiary of Oxford Bank, has expanded its line of working capital solutions for small to medium-sized businesses, increased its customer base and launched a new website with resources for business owners.
After more than two decades building FSW Funding, Robyn Barrett sold the prominent factoring firm to Oxford Commercial Finance this past spring. Even with the sale, Barrett is still committed to growing the company and maintaining her people, all while taking on new opportunities.
It has been 20 years since former commercial finance behemoth FINOVA Capital crumbled into bankruptcy. While it was an exceptionally influential participant in alternative finance during its time, in the two decades since its downfall, the company’s impact can still be felt across the industry.
Oxford Commercial Finance, a wholly-owned subsidiary of Oxford Bank, acquired the assets of FSW Funding and hired its entire team. Robyn Barrett, owner and managing member of FSW Funding, will join Oxford Commercial Finance as senior vice president and managing director of its working capital division.
FSW Funding promoted Ashton Bennett to director of operations. Bennett will oversee the management of the factoring and asset-based lending portfolio for FSW.
FSW Funding provided a $5 million credit line (along with an accordion feature) to a California-based staffing company that was having issues with its current lender.
FSW Funding hired Shauna Bittinger as a portfolio analyst. Prior to joining FSW Funding, Bittinger worked as an accounting clerk for an Arizona-based electrical and communications contractor.
FSW Funding, a Phoenix-based company that specializes in financing solutions for small and mid-size businesses, promoted Ashton Bennett to the position of operations manager. Bennett will oversee the management of the factoring and asset-based lending portfolio.