TROY, Mich., (June 7, 2018) — Marking just over one year since the acquisition of equipment leasing company Allstate Capital, Crestmark announces record growth in its small ticket leasing division, now called Crestmark Vendor Finance (CVF); they announce this growth along with new hires and promotions to support the division’s continued growth.
“We are proud of the success of this new division and its people. These appointments build upon our progress and further establish Crestmark’s nationwide presence as a major provider of equipment financing and asset-management solutions,” said Mick Goik, Crestmark president and chief operating officer.
“We have enjoyed the growth and expanded resources by becoming part of a larger establishment,” said Alex Echevarria, division executive vice president and previous president of Allstate Capital. “We’re still providing innovative financing to our client base, but have been able to expand our reach, and are proud of all team members as we continue to grow.”
“We’ve experienced fantastic growth. In the first year, CVF secured 685 lease transactions for a total of $58,777,880. We’ve also syndicated another $1,500,000… not too shabby!” said Scot Lund, senior vice president and CVF division manager. “This year, we’ve already surpassed our annual volume goal. The Allstate Capital (now CVF) team has always been known for their hard work and attention to service, and now, so are the new team members. With growth comes opportunities; it’s with great pleasure that we announce our success and recognize these individuals.”
Cheryl Baker has been promoted to vice president, operations from vice president, documentation manager. She is based in Bloomfield Hills, Michigan, and reports to Scot Lund, senior vice president and CVF division manager. Baker joined Crestmark in 2017 as assistant vice president, documentation manager; and was later promoted to vice president. Before joining Crestmark, she was documentation supervisor at Lease Corporation of America (LCA), a role she held for 20 years. Prior to that, Baker worked as a commercial lending biller for Standard Federal Bank.
Mike King has been promoted to officer, small ticket credit analyst for the division. He is based at the Bloomfield Hills, Michigan office, and reports to Cheryl Baker Vice President of Operations. King joined Crestmark in 2013 as an operations intern; in 2014, he was promoted to payment analyst; and in 2015 was promoted again to client analyst. Subsequently, he accepted the role as junior field examiner for the bank in 2016, before joining the small ticket leasing division as credit analyst last year. King has a bachelor’s degree in marketing from Oakland University.
Scot Lund was promoted to senior vice president, CVF division manager from first vice president. He reports to Crestmark President and COO Mick Goik. Lund has been part of Crestmark’s management team since 2012, and was a key part of the Allstate Capital acquisition in 2017.
Gary Greenspan joins Crestmark as vice president, national account manager. With a background of over 33 years as a business owner and in the finance industry, he will be key in supporting the growth of CVF by driving new sales through securing vendor finance programs. He reports to Scot Lund, senior vice president and CVF division manager.
Greenspan comes to CVF from Lease Corporation of America (LCA), where he was senior account executive. Prior to that, Greenspan acquired several years’ experience in the mortgage industry, serving as mortgage banker at Goldstar Financial Corp., and also at Quicken Loans Inc. Earlier, he was principal at Orchard Management, Inc., where he owned and managed over 300 apartment rentals; and principal at Smokers Express Franchise Co., where he created, owned, and franchised 14 stores in Michigan and Ohio. Greenspan graduated from Michigan State University with a bachelor’s degree in political science.