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Crestmark Hires Simshauser as BDO in Northeast

February 20, 2014, 07:34 AM

Crestmark announced that it has hired Mark J. Simshauser who will further support small middle-market businesses throughout the Northeast and New England areas while reporting directly to Midwest Regional Sales Manager, Jim Farrell. Located on Long Island, Simshauser will work as a part of Crestmark’s expanding and growing East Region.

Simshauser recently worked with UT-based, TAB Bank as Vice President, Northeast Origination for over two years with a focus on expanding its Northeast market presence. In that time, Mark successfully originated an active portfolio of over $20 million in both factoring and asset based clients throughout the Northeast. Previous to that, spanning over an active 15 year career, he has worked with a variety of bank and non-bank related asset-based lenders including Greystone Business Credit, Webster Business Credit, HSBC Business Credit and FINOVA Capital.

He is active in many regional professional/credit associations including working as past co-chair of the Annual Northeast Regional TMA Conference (Saratoga Springs, NY), director of the Upstate NY and Long Island TMA, current director of the Long Island RMA and board member of many Northeast Manufacturing Associations.

“Mark is a respected, well-known Business Development Officer in the asset-based lending industry, and I really look forward to working with him as a part of Crestmark’s East Region Origination Team,” said Farrell. “He is a tremendous addition and really knows how to work with small businesses in providing innovative capital solutions under either ABL or Factoring arrangements.”

“Crestmark has been looking to provide more dedicated support in the New England market for some time,” said Ray Morandell, Crestmark National Sales Director. “There are many businesses in this area that fit Crestmark’s core business focus. With our ever-expanding arsenal of financial services, the only missing ingredient was to team up with a dynamic Business Development Officer in the region; Mark will be an important asset for us in serving the New England business community.”

Crestmark is a nationally known and respected FDIC-insured bank that provides innovative financial solutions for small- to medium-sized businesses.

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