West Palm Beach, FL (PRWEB) June 17, 2009
Crestmark Bank, a nationally recognized provider of working capital solutions to small and mid-sized businesses, has named James Rothman group president. He will lead Crestmark's east coast region and establish a national specialty finance division dedicated to the staffing industry.
Rothman brings more than 25 years experience as an innovator in receivables financing, most recently as president of Capital TempFunds, one of the largest national lenders specializing exclusively in the staffing industry. He is a frequent author and speaker for the finance industry and national staffing industry trade publications and events.
Established as an FDIC-insured bank in 1996, Crestmark Bank specializes in helping companies across the country with specialized financing needs that may be outside of a traditional bank's financing capabilities. Crestmark has a wide array of working capital and specialty finance products, including traditional asset-based lines of credit -- both borrowing base certificate facilities and ledgered ABL facilities -- and recourse factoring, traditional factoring, transportation finance, and government receivable finance. The latest expansion augments their current staffing capabilities with the launch of their staffing services finance group called Crestmark Temp Funds, a Crestmark Bank Company, Member FDIC.
"Jim has used his asset-based lending background to successfully build several portfolios over the years including, most recently, Capital TempFunds," said Crestmark Bank Executive Vice President Barry Essig. "He has an unsurpassed track record as a leader, relationship builder, and solutions innovator. His expertise and creativity in looking at the financial needs of clients and structuring customized strategies to help them grow and prosper is an enormous asset that will bring our East Coast region to the next level. His outstanding reputation in the staffing
market as one of the best-known lenders in the niche will certainly drive our new staffing division's success."
During his 15 years at Capital TempFunds, Rothman guided the company's growth from a small lender and back-office services provider to a staffing industry leader in payroll funding, asset-based lines of credit, acquisition financing, and financing to support workers' compensation insurance needs of staffing industry clients.
"I am excited about joining a bank that has a true entrepreneurial spirit. The most rewarding aspect of my career is seeing clients grow and prosper and knowing I played a role in helping them achieve their goals. Over the years, we have helped several companies grow from being virtually start-ups to developing into companies with hundreds of million in sales," said Rothman.
"Having a full array of asset-based prospects to work with is very exhilarating and being asked to spearhead Crestmark Bank's expansion into the staffing industry represents an opportunity to repeat and expand on my previous success. I look forward to providing the kind of responsive, customized funding solutions that are a strong suit of Crestmark Bank."
Crestmark Bank is headquartered in Troy, Michigan, with regional offices in Florida, Tennessee and Louisiana; sales offices located in Arizona, California, Georgia, Illinois, New York, Ohio, and Texas. For more information, visit http://www.crestmark.com. Mr. Rothman can be reached at (561) 833-7006, ext. 119, or jrothman(at)crestmark(dot)com.