The Secured Lender January/February 2012 - (Page 19) industRy news Asset-Based CAPLines lender in the country. The Working Capital CAPLines Program offers revolving credit facilities for businesses involved in extending credit and carrying accounts receivable and inventory. Financing is intended solely for working capital purposes, or to refinance an eligible working capital line of credit. Lines are self-liquidating and are paid through the collection of receivables and sale of inventory. Mr. Fiorentino will focus on serving business customers in a variety of industries, including manufacturing, wholesale and distribution of consumer goods and other retail products, staffing, and other commercial services. Management Association. “We are excited to have Barry join the TAB business development team. He brings incredible experience and knowledge to this new role. He will be a great asset as we continue to create new opportunities and financing solutions for our clients,” said Justin Gordon, national director of sales for TAB Bank. AloStar Business Credit Opens New York Office and Adds Five New Business Development Officers AloStar Business Credit has announced the hiring of five new directors and the opening of an office in Manhattan. Richard Bochicchio and Allan Marzen of New York, Mark Buren of Baltimore, Scott Simmons of Dallas and John Todd of Chicago will join the AloStar team to focus on the lending needs of small- and medium-sized businesses in their regions. Bochicchio and Marzen will lead the New York office for AloStar at 250 Park Avenue in the Flatiron District. “The strategic addition of these five key team members highlights our commitment to providing capital for American businesses,” said Andy McGhee, President of AloStar Business Credit. “We are excited that Allan, Richard, Mark, Scott and John have joined AloStar and plan to make the most of their expertise, experience and energy. “Our strategic decision to open an office in Manhattan will increase our access to deal flow, benefitting our investors and partner institutions.” ◗ Mr. Bochicchio comes to AloStar as a managing director with more than 30 years of experience in business development and relationship cultivation in the junior capital/ commercial finance/commercial Barry Yelton Joins TAB Bank as VP As TAB Bank continues to expand its financial offerings to a broader spectrum of industries, it is pleased to announce the addition of Barry Yelton to the business development team as vice president and business development officer based in Charlotte, NC. Barry is a 37-year veteran of the asset-based lending and factoring industries. He has served as regional sales and marketing manager for Wells Fargo Foothill, Sovereign Business Capital, and Federal National Services. He served as national sales and marketing manager for Lighthouse Financial Corp. and Textron Financial/ Asset Based Lending Division. He was co-founder and vice chairman of the National Funding Association and founder and first President of the Commercial Finance Association / Carolinas Chapter. He currently serves on the Board of Directors of the Small Business Finance Institute and the Carolinas Chapter of the Turnaround banking field. As the managing director and co-founder of Seaward Partners LLC in Stamford, Conn., Bochicchio was responsible for originating investment opportunities and leading underwriting and due diligence. He also developed and implemented the firm’s marketing strategy, which included a focused calling effort on lenders, investment bankers, turnaround professionals and direct calling on middle-market private and public companies. Bochicchio is currently the New York President of the Turnaround Management Association. A graduate of State University of New York at Albany, Bochicchio also received his Masters of Business Administration from New York University with a concentration in finance and international business. ◗ Mr. Marzen joins AloStar as a director with 15 years of experience in new business development and marketing. A familiar face with both national and New York-area lending communities, he has secured financing from an extensive network of interested parties including private equity groups, investment bankers, financial intermediaries, lawyers, consultants, accountants and other industry professionals. His last position was with First Niagara Commercial Finance, where he served as first vice president and business development officer. Marzen has extensive experience in business operations, management evaluation, industry research and legal issues. He is a graduate of George Mason University. ◗ Mr. Buren will join AloStar as a director. He has more than 20 years of business development experience in asset-based lending including healthcare. 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