September 24, 2015
By Bob Coleman
Editor, Movers and Shakers
Coleman’s Movers and Shakers — CenterStone SBA Lending Acquires SBLC License
Los Angeles-based CenterStone has successfully closed the purchase of a small business lending company license from ReadyCap Lending on September 14th
Jason Pak, CEO of CenterStone SBA Lending, is a seasoned executive in the field of SBA and commercial lending, with more than 20 years of financial experience and knowledge. Throughout 11 years of working at Bank of America, he produced over $1 billion SBA and commercial loans, annually yielding an average of $100 million.
He was the first Korean-American to achieve the position as a Senior Vice President in the SBA and Commercial Lending Department for Bank of America. He established and administered a marketing team to supply assistance and to fulfill the needs of the Asian community.
His experiences and knowledge led him to open BDO CL, Inc., a Commercial Wholesale Lender, in the fall of 2011. As President and CEO, he managed and oversaw daily operations.
Since inception, he and his group of skilled BDOs have achieved close to $150 million in direct commercial lending products.
The management team has more than 100 years of combined experience in banking.
Jason says, “With the SBLC license, I welcome the opportunity to assist small businesses achieve sustainable grow and make a positive impact in the communities they serve.”
Martin Teckler, a partner at Kelley Drye and Warren, LLP represented CenterStone SBA Lending in the transaction.
Tim McGoff Joins Celtic Bank as Chief Business Development Officer
“I am excited to come to a Bank that exudes the same level of entrepreneurial spirit as the small business owners it finances. I look forward to extending the strong pace of growth Celtic Bank has achieved over the past few years,” says Tim.
“I couldn’t be more pleased that Tim has made the choice to join Celtic Bank as its new Chief Business Development Officer,” says Reese Howell Jr., CEO of Celtic Bank. “Tim is a very talented individual and I believe he will make a significant contribution to our organization.”
Tim joins Celtic Bank with more than 20 years of experience in business channel development, SBA and commercial lending, team management and technology enabled processes. Most recently, Tim worked for US Bank as a Vice President focused on strategic alliances, marketing and business support services. Prior to US Bank, Tim worked for New York-based Business Loan Express, LLC as Vice President of Internet Channel Sales.
(Note: This post corrects my error in Tim’s title last week)
American Business Lending Names Terry Kemp Vice President of Business Development
“Terry is an outstanding loan originator for SBA – 7a, 504, commercial real estate, owner occupied and investment loans, condo and CMBS loans,” says ABL CEO Charlie Bell. “We are pleased to add such a well-rounded, experienced and successful professional to our team at American Business Lending.”
Terry has more than 25 years experience in SBA, residential and commercial banking operations for mid-to-large financial institutions and the federal government, as well as more than 10 years experience in credit analysis, financial modeling, commercial and residential underwriting and business development.
Most recently, he served as President at TMI Finance Consultants in Marietta, Georgia, where he led consultation for clients seeking financing for commercial real estate owner-occupied business loans.
Jenna Brackett joins Exchange Bank as Assistant Vice President and SBA BDO
Jenna is responsible for providing SBA 504 and 7(a) loans to small- and medium-sized businesses in Roseville and the greater Sacramento area.
Jenna has over 10 years of banking experience. She was a Vice President, serving in multiple roles for Wells Fargo and JPMorgan Chase Bank, NA. Most recently, she covered 7 states as a National Account Executive in Business Development for Alliant Credit Union.