Business Capital (www.bizcap.com) announced the promotion of industry veteran Erik Ostebo to Chief Credit Officer. He was previously employed by Business Capital as the Director of Loan Syndication. He will continue to work directly with Managing Director, Chuck Doyle, to secure financing for small to middle market companies.
“It is a privilege and honor to have such a respected and valuable member on our team. Erik has been with us for several years and has really helped us make a difference to businesses that are experiencing hyper-growth or a financial set-back.” said Doyle. “There is a real void for small to middle market companies looking for corporate financing and with Erik leading our credit and syndication team, we can serve even more clients who are in need of working capital and debt restructuring but have been turned down by traditional lenders.”
Erik has over 20 years of experience providing asset based working capital and structured term debt financial solutions for both middle market companies and venture capital start-ups. He has worked on over $2 billion of business loans. Erik has a strong background in senior management, including positions as District Manager, Managing Director, Vice President-Business Development and National Credit Manager for major finance companies that include GE Capital, Transamerica Technology Finance, Gateway Business Bank and CIT. He has a successful history of building a profitable portfolio of business loans for middle market companies requiring a tailored blend of loans to fund a turnaround plan; finance rapidly growing sales; and/or obtain equipment-based term debt or equipment leases. Additionally, he has provided similar venture debt financial solutions for venture capital funded IT and Biotechnology start-ups.
Business Capital is a leading national commercial finance company and restructuring firm specializing in arranging capital and debt restructuring for small and middle market companies. Combining a unique blend of traditional and progressive financing methods, the firm provides a vast spectrum of services, including asset based debt and cash flow financing, private investment banking services and restructuring solutions for private and public companies.