Recorded: May 6, 2014
Length: 60 Minutes
This session will explain how securing new loans on receivables, inventory and other personal property can enable your institution to expand the loan market in your community while reducing overall risk. Learn what to consider when preparing to offer a Senior Secured Lending structure.
The webinar is presented in partnership with the Commercial Finance Association, the trade association for the Asset-based lending and factoring industries.
The presentation will cover the following:
- The market opportunity for working capital loans to fund the growth of small and mid-sized companies in your community.
- How securing these loans against receivables, inventory and other personal property enables the cost to the borrower to be minimized in a market where losses due to bad debt are less than 1%
- An overview of the structure of Senior Secured Lending products, how advance rates are set, and the key issues that affect the advance rate
- The range of skills needed to originate and operate Senior Secured Lending loans, and approaches that Community Banks can use to build a capability.
Attendees will learn how to:
- Identify the key issues to consider when deciding whether to diversify into Senior Secured Lending products
- Identify the key skills and steps required to implement best-practice in Senior Secured Lending
- Develop the resources and contacts to help build a successful Senior Secured Lending strategy
Joe Accardi is the market leader for the NY/NJ region of the ABL Division of Santander, with responsibility for all of the region's new business development and portfolio management. He is a member of the CFA Education Committee (his second term of service), and was recently appointed Co-Chair of the sub-committee for middle market lending. Joe was a faculty member at the NY Institute of Credit for 16 years and served on the Institution's Board of Trustees. His educational background includes a BA Cum Laude in Economics, Rowan University, and an MBA in Finance, Fairleigh Dickinson University. In addition, Joe is a graduate of The Stonier Graduate School of Banking and of The London Business School's Leadership Development Programme.
David Grende is the President and Chief Executive of Siena Lending Group, an independent commercial finance company offering asset based loans from $1 - $20 million to small and middle market businesses. David has more than 30 years of experience building and running ABL businesses, advising on debt restructurings, filling interim management roles and executing asset workouts. Dave founded Burdale Capital Finance as the U.S. ABL subsidiary of Bank of Ireland in 2006. Total commitments reached $2.5B, making Burdale a widely recognized household ABL brand. His professional experience also includes roles at Huron Consulting Group, Comdisco Ventures, Arthur Anderson, The CIT Group and a Bank of America subsidiary, which he also started as a de novo asset based finance business.
Leonard Lee Podair
Lee is a Partner in the Business Finance Division of the law firm Hahn and Hessen. He is a Fellow of the American College of Commercial Finance Lawyers. He has served on numerous panels for the Practicing Law Institute, the Banking Law Institute, the Commercial Finance Association and the Association of Commercial Finance Attorneys. He is the New York State Reporter for the Commercial Law Survey of the ABA's Commercial Financial Services Committee and has also published articles on secured lending and bankruptcy law issues in The New York Law Journal, The Secured Lender and other publications. Lee was named to the New York Metro Area list of Super Lawyers by Super Lawyers Magazine in 2006, 2007, 2009, 2010, 2011, 2012 and 2013. He was a Harlan Fiske Stone Scholar and an editor of the Journal of Law and Social Problems while at Columbia law school.
1 CPE Credit
Program Level: Basic-Intermediate