Lenders Funding publicizes the retirement of Chief Working

SAN DIEGO, September 22, 2022 (Globe Newswire) — Lenders Funding, LLC, a Nice Elm Capital Corp specialty finance firm, (“we,” “us,” “our,” “firm” or “LF”) introduced at the moment That the Chief Working Officer and Chief Credit score Officer, Harvey Friedman, will retire after main its credit score operations and general administration for 18 years. In retirement, Mr. Friedman will assume the position of Honorary Vice President. Mr. Friedman has served the factoring and asset-based lending business for over 45 years. Previous to becoming a member of LF, Mr. Friedman was Govt Vice President and Chief Credit score Officer at Gibraltar Company of America (“GCA”), an entirely owned subsidiary of United Jersey Financial institution, the place for 32 years he managed a $900 million secured mortgage portfolio. did administration. After GCA, Mr. Friedman was managing director of Sterling Financial institution’s asset-based lending division. Mr. Friedman has persistently offered management to your entire secured mortgage business, filling the void within the non-public financing business for fairly a while. As Vice Chairman Emeritus, he’ll proceed to help within the progress and success of Lenders Funding and Nice Elm Capital Corp’s specialty finance enterprise.

“Harvey is a extremely revered business skilled who has contributed to the expansion and enterprise practices of your entire factoring and asset-based group, and lenders’ financing specifically,” stated Robert Zadek, Founder and CEO of Lenders Funding. “It has been an honor to be a part of the expansion of the non-public funding business over the previous 4 a long time, and their information, dedication and engagement have made a profound distinction that may have an enduring impression. The friendship and steerage they’ve offered me, He’s of equal significance, which will definitely proceed regardless of his retirement.”

“After 18 years, it has been a beautiful general expertise with reminiscences which can be a number of the greatest in my life,” stated Friedman, reflecting on his tenure at Lenders Funding. “I’m particularly grateful for the franchise we now have created and for all of the business contacts I’ve had the pleasure of participating with all sides of the factoring business. Due to my robust intention to keep up a correspondence and probably contribute in new methods Additionally, my heartfelt due to all.”

“On behalf of the Nice Elm Capital Corp Specialty Finance household, we’re proud to have Harvey and his expansive expertise as a part of the group,” stated Michael Keller, President of Nice Elm’s Specialty Finance Group.

In gentle of Mr. Friedman’s retirement, John Benkovic will be part of LF as its Chief Working Officer and Chief Credit score Officer. Mr. Benkovic lately gives 25 years of business expertise as president of Millennium Funding, a factoring enterprise that was acquired by Encore Funding. At Encore, Mr. Benkovic served as Govt Vice President for Credit score and Underwriting. Mr. Benkovic started his profession within the funding division at Norstar Financial institution (now Financial institution of America) and developed a strategy for measuring and mitigating the financial institution’s publicity to rate of interest volatility threat and later with the financial institution. Went into business lending. Mr. Benkovic earned a BA in Enterprise Administration from St. Michaels Faculty and an MBA from Clarkson Faculty.

“I’ve identified John for the previous 25 years and have revered his administration acumen and secured credit score acumen as we now have labored collectively within the factoring business. We’re thrilled to assist John broaden lenders funding and I Look ahead to the transactions that we are going to handle collectively,” stated Robert Zadek.

Michael Keller stated, “John is a confirmed and efficient Chief Working Officer who has the assist of the LF Board to drive the expansion technique of financing lenders backed by Nice Elm’s general specialty finance enterprise.”

About lenders financing

Lenders are a non-public funding and threat sharing supply for funding elements and asset-based lenders. It buys participation of their transactions on a non-shelter foundation or gives them working capital beneath a wide range of versatile packages. Since its formation, Lenders Funding has labored with over 150 lenders and elements and provided a number of hundred million {dollars} in funding. Further details about the corporate could be discovered at www.lendersfunding.com.

About Nice Elm Capital Corp.

Nice Elm Capital Corp. is an externally managed enterprise growth firm that seeks to generate present earnings and capital appreciation by investing in debt and income-generating fairness securities, together with investments in specialised finance companies. Further info could be discovered at www.greatlmcc.com.

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