November 10, 2022
Coleman Movers & Shakers – Ben Rosensweet, Gulf Coast Small Business Lending Team, and Momentus Capital
First Internet Bank Appoints Ben Rosensweet As VP, Senior BDO
“The lending expertise Ben has is broad-based and fits neatly into our business model. Our national platform will allow him to help small business clients regionally as well as outside of the typical markets he has served in the past,” notes Vice President, National SBA Sales Manager Mark Gibson. “He goes beyond simple transactional relationships, making the effort to understand both the borrower’s company and the industrial segment in which they operate.”
The newest member of the Small Business Administration team brings a wealth of experience in finance and new business development, as well as equipment and commercial finance. Ben was most recently with Riverhills Bank, where he served as Vice President, Commercial Lending Officer. He previously has held positions with Byline Bank and Park National Bank of Southwest Ohio, among others. Ben received his Bachelor of Arts from The Ohio State University and his Master of Business Administration degree from Xavier University.
Ben adds, “I am excited to join a team that has quickly become a major national participant in government lending. I look forward to helping new and experienced small business owners get to the next level through readily available growth capital that we can provide through SBA loans.”
Gulf Coast Small Business Lending, A Division of Gulf Coast Bank & Trust, Welcomes New Southeast Team
Gulf Coast Small Business Lending officially welcomed 15 new and experienced teammates to the SBA lending division. The group, led by industry veteran Larry Moran, includes:
1. Five teammates focused on sales/sales support reporting to Pat Moore (SVP – Sales Manager)
2. Six teammates dedicated to credit/underwriting/servicing reporting to Kyle Robbins (SVP – Underwriting Manager)
3. Three teammates handling loan processing/closing reporting to Jim White (SVP – General Counsel, SBA Lending).
The joint announcement was made by Nimi Natan (Division President and CEO of Gulf Coast Small Business Lending) and Larry Moran (President of Gulf Coast Small Business Lending Southeast Region). “We’ve been teasing that good things are happening at Gulf Coast Small Business Lending and I’m so pleased that we can now share our exciting news”, said Natan. He goes on to say “the addition of this group demonstrates the optimism we have about the future of SBA lending – we are bullish and, as a result, we are investing in the growth of our division. In fact, the addition of this highly experienced and successful group means that our SBA division has now grown by 50%.”
Mr. Moran says “we are thrilled to be joining the Gulf Coast Small Business Lending team and look forward to delivering immediate results as we continue to offer SBA loans to borrowers throughout the Southeast. Our singular focus has always been and will remain the origination, underwriting, closing, and servicing of quality SBA loans with outstanding customer service for our parent bank, referral partners, and borrowers.”
Momentus Capital Collaborates With Macy’s, Inc. to Deploy $200 Million to Diverse-Led Businesses
“With Macy’s, Inc., we have a unique opportunity to offer underrepresented businesses the resources to grow in a more equitable environment,” comments Raymond Guthrie, Chief Investment Officer and Head of Capital Deployment for Momentus Capital. “The Macy’s, Inc. supplier ecosystem provides access to comprehensive tools, industry experts, educational resources, and now with funding through our collaboration and the formation of S.P.U.R. Pathways: Shared Purpose, Unlimited Reach, creates an unparalleled opportunity within the retail industry. Access to capital and expertise fuels mutual growth and fosters wealth creation and entrepreneurship within historically underfunded communities.”
Momentus Capital is proud to announce that it is working with Macy’s, Inc. on S.P.U.R. Pathways: Shared Purpose, Unlimited Reach — a multiyear, multifaceted funding program to advance entrepreneurial growth, close wealth gaps, and shatter systemic barriers faced by diverse-owned and underrepresented businesses.
It features a comprehensive range of financing options, from growth equity capital to loans for working capital and commercial real estate. Additionally, this effort will provide a full suite of educational resources, fueling a holistic supplier ecosystem and acting as a catalyst for outsized growth.
This collaboration, which will potentially contribute approximately $200 million toward supporting underrepresented businesses, includes:
- Macy’s, Inc. investing $20 million in its own supplier access fund.
- Macy’s, Inc. investing another $10 million through Momentus Capital’s Impact Investments line of business. The Impact Investments line of business is projected to include more than $100 million in capital to support the growth of diverse-led and underrepresented growth-stage businesses. More information about Impact Investments will be announced at a later date.
- Macy’s Inc. referring businesses to a Momentus Capital loan program, which is anticipated to provide up to $100 million in capital access to businesses at various stages of development.
The program is another example of how the Momentus Capital family of organizations — which includes Capital Impact Partners, CDC Small Business Finance, and Ventures Lending Technologies — looks for innovative ways to offer a continuum of financial, knowledge, and social capital to help local leaders build inclusive and equitable communities and create generational wealth.
In addition to financing through S.P.U.R. Pathways, businesses will have access to the necessary tools and new opportunities to progress through various growth stages. This includes an advisory network of successful entrepreneurs around the country for strategic growth advice and help with credit improvement, business plans, financial reporting, daily operating challenges, business strategy, opportunity evaluation, and other personalized services. Advisory services through S.P.U.R. Pathways will also provide access to additional training and resources, including professional services, business templates, technology and software development tools, as well as online and in-person workshops focused on the specific needs and industry of each participating diverse-owned enterprise.
“S.P.U.R. Pathways: Shared Purpose, Unlimited Reach is dedicated to shaping the future of U.S. retail. Macy’s, Inc. has promoted underrepresented businesses and entrepreneurs for more than a decade and furthers that commitment today, pushing the U.S. retail industry to a new era,” says Jeff Gennette, Chairman and CEO of Macy’s, Inc. “As part of our social purpose platform, Mission Every One, this investment will provide access to capital resources that will advance the next generation of brands and service providers. By investing in high-growth underrepresented businesses at all stages of growth, we intend to create meaningful economic impact within our communities, while serving our customers.”