#United States #New Orleans #Republic Business Credit #Chris Costello #Asset Based Lending

Chris Costello Joins Republic Business Credit

Republic Business Credit, a prominent name in commercial finance, has recently appointed Chris Costello as its Senior Vice President, Underwriter, at their New Orleans location. This strategic hire is set to bring invaluable expertise to the firm’s underwriting team.

Costello, who is well-respected in the field of Asset Based Lending (ABL), boasts extensive experience across various roles within the finance sector. Over the years, he has accumulated a wealth of knowledge in credit analysis, transaction management, and portfolio assessments. His career includes significant tenures, such as spending seven years as a field examiner and a remarkable twelve years at Capital One Bank focusing on underwriting and portfolio management.

The hiring of Costello comes at a pivotal time for Republic Business Credit, especially as the demand for ABL products continues to soar. His track record in successfully managing diverse portfolios, which range from lender finance to tax lien lending, is a testament to his capability. Notably, he has overseen facilities ranging between $5 million to $250 million, proving his proficiency in handling substantial financial instruments.

Brian Daray, the SVP Underwriting Manager at Republic, expressed enthusiasm about Costello's addition, stating, "Chris's deep understanding of the ABL market makes him an invaluable addition to our team. His extensive expertise will certainly enhance our service offerings to both existing and prospective clients.” This sentiment highlights the firm’s commitment to providing top-tier service in the competitive landscape of commercial finance.

Costello is not only recognized for his management skills but also for his innovative approaches. He played a crucial role in developing training programs and operational strategies that improved efficiency and compliance in previous roles, which will likely translate into added benefits for Republic’s operations. "I am thrilled to join this exceptional team and look forward to contributing to Republic's continued growth and success across its suite of ABL, e-commerce, and factoring products,” stated Costello upon his appointment.

For Republic Business Credit, 2024 was a significant year, as the firm successfully funded over $100 million in new credit facilities, with a notable 60% of the new client acquisitions centered around ABL products. Stewart Chesters, the CEO of Republic, emphasized the importance of adding seasoned professionals like Costello to the team, saying, "We remain committed to partnering with entrepreneurs and private equity firms, enabling their success with our robust product offerings."

Established as a leader in the commercial finance sector, Republic Business Credit is recognized for its contributions to the working capital requirements of companies nationwide, particularly those backed by private equity or entrepreneurial ventures. Their services range across asset-based lending, factoring, and e-commerce support, with a capacity to provide up to $15 million in senior credit facilities to companies experiencing rapid growth or distress.

Headquartered in New Orleans, Republic also operates in major cities like Chicago, Los Angeles, Houston, and Atlanta. The company is a wholly-owned subsidiary of Renasant Bank and has been honored by the Secured Finance Network as one of the largest finance companies in the U.S.

With Chris Costello's leadership, Republic Business Credit is poised to strengthen its position in the ABL market and continue fostering financial success for its clientele.