ATLANTA–(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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