AloStar Capital Finance Rebrands as Cadence Business Finance
September 17 2020 - 8:04AM
Business Wire
Cadence Bank today announced the rebrand of AloStar Capital
Finance, a division of the bank that provides asset-based lending
(ABL) and specialty finance solutions, to Cadence Business
Finance (CBF). Along with its new name, logo and website, the
rebrand introduces new leadership and a realigned business focus to
better serve the growth and operational needs of performing
middle-market businesses.
Norbert “Norb” Schmidt has been appointed executive vice
president and director of capital finance of Cadence Business
Finance. Schmidt has spent the past nine years at AloStar, now
Cadence Business Finance, and has more than 25 years of asset-based
lending and commercial finance experience through his work at
AloStar, Textron Financial, CIT and Chase Bank.
“Norb’s expertise in asset-based lending and specialty finance
and his relationship-oriented approach are essential to the
transformation of Cadence Business Finance,” said Hank Holmes,
president of Cadence Bank. “Norb has brought strategic
reorganization and a positive energy to this division, strongly
positioning it for future growth. This realignment brings a
continued commitment to our clients’ long-term success.”
CBF offers creative asset-based financing to middle market
companies such as manufacturers, distributors and service
companies. The experienced CBF team works with companies to
leverage a broad range of assets, including working capital assets,
such as accounts receivables and inventory, and longer-term assets
comprising machinery, equipment and real estate, to fund future
growth. High-quality, flexible covenant structures focus on a
client’s liquidity and working capital performance rather than
traditional cash flow-based commercial loans.
CBF also provides customized solutions to specialty finance
companies. Flexible covenant structures in industries such as
equipment financing, insurance premium financing, specialty
asset-based lending and factoring, as well as merchant cash
advance, foster the long-term success of asset-based lenders, and
that of their clients. CBF’s trusted advisors support a broad range
of business situations, including growth, warehouse facilities,
acquisitions, and restarts.
“The relaunch to Cadence Business Finance is a constructive step
in our commitment to support the long-term growth of middle-market
businesses and asset-based lenders through flexibly structured
financial solutions. This flexibility lets clients focus on their
strategic and financial priorities, knowing that liquidity will be
there for them when they need it,” added Schmidt. “Our
knowledgeable team partners with clients to deliver financing in a
responsible, secure, patient and experienced manner that’s earned
us recognition as growth capital and turnaround experts.”
Please visit www.cadencebusinessfinance.com to learn more about
their team of expert advisors and the services offered.
About Cadence Bank
Cadence Bank is a leading regional banking franchise with $18.9
billion in assets as of June 30, 2020, and 99 branch locations in
Alabama, Florida, Georgia, Mississippi, Tennessee and Texas. Backed
by 133 years of financial expertise, Cadence provides corporations,
middle-market companies, small businesses and consumers with a full
range of innovative banking and financial solutions. Services and
products include commercial and business banking, treasury
management, specialized lending, asset-based lending, commercial
real estate, SBA lending, foreign exchange, wealth management,
investment and trust services, financial planning, retirement plan
management, personal and business insurance, consumer banking,
consumer loans, mortgages, home equity lines and loans, and credit
cards. Clients have access to leading-edge online and mobile
solutions, interactive teller machines, and more than 55,000 ATMs.
The Cadence team of 1,800 associates is committed to exceeding
customer expectations and helping their clients succeed
financially. Cadence Bank, N.A. is a subsidiary of Cadence
Bancorporation (NYSE: CADE). For additional information, visit
cadencebank.com. Cadence Bank, N.A. Member FDIC. Equal Housing
Lender. NMLS#525022.
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Danielle Kernell Cadence Bank 713-871-4051 direct | 713-392-7709
mobile danielle.kernell@cadencebank.com
Sheena Cochran Cadence Bank 713-871-4072 direct | 281-740-4366
mobile danielle.kernell@cadencebank.com
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