TROY, Mich., (Feb. 5, 2020) — Crestmark has announced an internal restructure and the launch of two new groups that will increase efficiency and timeliness in providing financing to the marketplace. Crestmark’s Business Credit group will focus on asset-based lines of credit and the Commercial Capital group will focus on capital needs primarily secured by accounts receivable. The change impacts how internal operations underwrites and manages loans while sales outreach to the marketplace remains unchanged.
“I’ve looked forward to making this change for years,” said Mick Goik, Crestmark president. “It will bring a national footprint for two distinct product lines. I believe it will create significant efficiencies and will allow us to better serve our client base.”
Steven Tomasello leads the Business Credit group, and Heath Holdbrooks leads the Commercial Capital group. Tomasello has led Crestmark’s East division for over 10 years, and Holdbrooks has led Crestmark’s Transportation division for over five years. Under their leadership, both divisions have experienced significant growth.
“With the launch of this new group, we’re broadening our focus in the ABL space,” said Tomasello. “This is an exciting change and I am glad to lead this professional team.”
“My focus at Crestmark has been to increase market share and brand awareness primarily in the transportation industry, and our team has been extremely successful in growing that segment of the business,” said Holdbrooks. “The opportunity to now lead this larger, talented group for Crestmark across all industries is something that I look forward to.”