May 20, 2015
By Bob Coleman
Editor, Coleman’s Movers and Shakers
Maine the base of the newest SBA 7(a) nonbank lender
CEI 7(a) Financing LLC (C7a), a wholly-owned subsidiary of Maine-based Coastal Enterprises Inc., has acquired one of the 14 SBA SBLC licenses and is now a direct SBA 7(a) lender.
‘As one of the country’s leading and rural economic development practitioners, for over three decades CEI has sought innovative ways to move capital into communities that lack access to traditional business financing and community development resources,’ says Ron Phillips, President and CEO of CEI. ‘Our model continues to evolve with new tools and strategies to help provide opportunity for all Americans in the 21st century.’
‘There is clear demand and need for ethical, non-bank, small business lending capacity,’ adds Rob Wilson, C7a’s CEO. ‘The businesses that our economic development partners are referring to us as potential borrowers are seeking the loan product that C7a brings to the market.’
Chris Sikes, President and CEO of Western Massachusetts-based Common Capital, comments, ‘C7a understands the needs of small businesses as well as the opportunities to work with smaller, community-based, nonprofit lenders like us. C7a also extends CEI’s knowledge and willingness to collaborate in technically complex, large-scale national financing programs.’
ReadyCap Lending Hires William Luckinbill in Arizona
Bill has over 24 years of comprehensive lending experience, extensively in the government-guaranteed arena. Prior to joining ReadyCap Lending, Luckinbill served as Vice President for Titan Bank in Arizona. He has deep experience and knowledge in SBA and USDA lending programs, having worked in business development, underwriting and management roles for The Money Store Investment Corp., Transamerica Small Business Lending, Compass Bank and Mountain America Credit Union.
Luckinbill received his bachelor’s degree from the University of Illinois-Chicago and his MBA from Keller Graduate School of Management in Chicago. Originally from the Midwest, he has lived and worked in Arizona for more than 17 years.
ReadyCap Lending Hires Tony Boddie in Ohio
Tony has over 25 years of comprehensive lending experience, extensively in the SBA arena. Prior to joining ReadyCap Lending, Boddie served as Vice President for Huntington Bank in Ohio, where he received SBA Lender of the Year honors in 2014. He has broad experience and knowledge in financial products and lending, having worked in business development and management roles for Huntington Bank, Lehman Brothers Bank and Titan Bank.
Boddie received his bachelor’s degree in business administration from the University of Dayton. He has lived and worked in Ohio for over 20 years.