March 16, 2015
By Bob Coleman
Editor, Monday’s Movers and Shakers
Joan Earhart’s Team Moves to HomeStreet Bank
‘We are thrilled to add such knowledgeable and high-performing individuals to serve the financial needs of our small business community,’ says HomeStreet EVP and Commercial Banking Director Dave Straus. A
Joan says, ‘With a large lending capacity and a community bank atmosphere, HomeStreet Bank provides the perfect platform for the successful delivery of loan products to the growing business community.’
The nine-person team will be led by Joan Earhart, SBA’s 2013 Region IX Financial Services Champion. The team recently received recognition by CDC Small Business Finance, the nation’s number one SBA 504 Certified Development Company, as their 2014 Top Community Bank Lender. Based in Orange County, Calif., the SBA team will provide SBA 7(a) Business and Real Estate loans and Contract Financing, as well as 504 Real Estate and Equipment loans, to small- and medium-sized businesses throughout the state.
Will Floyd And Joseph Amato Join Celtic Bank’s SBA Lending Team
“We are delighted to have Will and Joseph join Celtic Bank’s nationwide SBA lending team,” says Craig Calafati, Executive Vice President of SBA Lending at Celtic Bank. “Will and Joseph bring a vast amount of small business financing experience with them. With the addition of Will and Joseph, we look forward to providing small business owners from coast-to-coast with even greater access to capital.”
“Celtic’s ability to take sometimes complicated SBA loans and take a more common sense approach was very appealing to me,” says Floyd. “I look forward to many years of successful SBA lending at Celtic Bank.”
“Celtic Bank will allow me to capitalize on my extensive business development and commercial lending experience on a nationwide platform,” says Amato. “I have joined a group of lending professionals that are sincerely focused on providing financing opportunities for small business.”
Elle Jameson Joins Merchant Cash and Capital As VP
“Elle has experience in a wide range of small business finance programs, from the SBA’s 7(a) and 504 programs to working capital lines of credit,” says Walt Levengood, MCC’s chief strategy officer. “This knowledge will be key as MCC expands its funding partnerships and business relationships.”
“Small businesses need funding that moves as fast as they do,” says Elle. “I look forward to applying my knowledge of entrepreneurs to bring them funding that goes well beyond the traditional bank loan process.”
BankUnited to Acquire CertusHoldings’ Small Business Finance Unit
The Small Business Finance Unit, consistently one of the top 20 Small Business Administration (“SBA”) lenders in the United States, originates, sells and services small business loans pursuant to the SBA’s 7(a) loan program and CDC/504 loan program and the U.S. Department of Agriculture’s Business & Industry and Community Facilities loan programs.
In connection with the transaction, BankUnited will acquire the Small Business Finance Unit’s loan portfolio, which totaled approximately $203 million as of January 31, 2015, as well as substantially all of its operating assets, and will assume certain of its operating liabilities. The purchase price for the transaction will be a $20 million premium to the tangible net asset value of the acquired assets and the assumed liabilities, subject to adjustment. The transaction is expected to be accretive to BankUnited’s earnings in the first year, with a projected tangible book value earnback period of less than 2 years.
John A. Kanas, Chairman, President and Chief Executive Officer of BankUnited, says, “We are very excited to welcome the Small Business Finance Unit from CertusBank into the BankUnited family. The team’s track record and reputation have been impressive and we believe they are a complementary fit to our dynamic and growing organization.’
And, Ron Reuss Statement on Leaving Gulf Coast Business Finance
‘As you know, I have decided to leave GulfCoast Business Finance and I wanted to let you know that this decision was based upon an evaluation of my current situation and both Nanette and I decided that now would be a good time take some time off and to eventually look at other opportunities.
‘With both of our children getting out of school we are looking to downsize our housing situation and in the process we ended up figuring that eventually getting into something new for the last couple of years before retirement would be exciting and fun!
‘Fourteen years at GulfCoast has been worthwhile, but I am ready to move on to other things and not necessarily just here in Florida. I will work with the company during transition period through to mid-May and hopefully the board will choose someone with direct 504/CDC experience to take over my position!
‘I will miss you and all of my friends at NADCO and certainly wish you the best of success! Let’s stay in touch!’