Steve Tomasello, Executive Vice President and East Division President at Crestmark, has written an article recently featured on ABF Journal. Steve has over 25 years of commercial finance experience and has been working at Crestmark since 2009. As an alternative lender Crestmark is often asked by traditional lenders, turnaround professionals and consultants to develop specialized funding solutions for businesses. We are always eager to share our insights and experience with other industry professionals and businesses.
In the article Steve shares Crestmark’s unique experience in finding a new financing solution for a busy thermoforming company. The challenging opportunity to develop a customized loan structure required innovative solutions and carefully timed, coordinated efforts by an experienced lending team. Twelve loans had to be refinanced, consisting of personal loans, mortgages, a line of credit and machinery and equipment term loans.
In the end the multi-tiered solution was made possible by strong leadership within the company, the resourceful and motivated sales, underwriting and management team at Crestmark, as well as a solid relationship with the incumbent lender. A new lending relationship was formed and innovations including improved management of controls, consistent processes, and higher-quality financial reporting to enhance the company’s overall productivity and potential were also achieved in the process.
For full details, read the article here: http://www.abfjournal.com/articles/unique-funding-solution-a-multi-tiered-approach-for-a-growing-company/
At Crestmark we have a broad experience in providing diverse financial solutions to growing businesses. Give us a call today to speak with a lending expert and explore options for your business.