Commercial finance company First Capital has added Mark Schroeder as a new Vice President to its asset based lending team. Mr. Schroeder will be responsible for new business development in the Upper Midwest region with primary emphasis in Ohio, Indiana, Western Pennsylvania and Michigan.
“As part of our efforts to increase our presence in the Great Lakes area we needed a proven financial professional with the knowledge and skill set necessary to continue our growth, which we have found in Mark,” said Harry Novak, SVP and Regional Business Development Manager. “We are very excited to have Mark join our team. With his extensive knowledge of the local markets and asset based lending I am sure he will be successful in growing our loan portfolio.”
Mr. Schroeder’s prior experience includes over 20 years in asset based lending including business development, portfolio management and market development. Most recently Mr. Schroeder held the position of VP – Business Development Officer with MidCap Business Credit. Other prior positions include Founding Partner of SRM Consultants, Business Development Officer with Transportation Alliance Bank, and Regional Marketing Director with Great Lakes Business Credit. Mr. Schroeder received a BS in Finance from the University of Illinois at Chicago and an MBA from DePaul University.
“I’m very excited to have this opportunity to extend the marketing efforts within this region. First Capital is able to provide flexible financing programs to meet the needs of companies going through transitions,” said Mr. Schroeder.
First Capital provides working capital financing from $2 million to $25 million primarily to middle-market businesses with annual sales ranging from $10 million to $250 million. Credit facilities are in the form of asset based loans or factoring arrangements. First Capital is headquartered in New York and the firm has additional offices in Atlanta; Boynton Beach and Ft. Lauderdale, FL; Los Angeles; and Oklahoma City (www.firstcapital.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 6-7-13