The Need for ABL Human Capital

In a recent Q&A with The Secured Lender, industry executives offered their reflections on the direction of asset-based lending and factoring, with an eye towards moderate growth in 2007 and 2008. As credit markets tighten, as a result of the subprime debacle, asset-based lenders are predicting additional opportunities for their sector.

Excerpt from the Article: The Need for Human Capital

Warren K. Mino, president and COO of Webster Business Credit, Mino's worry remains the need for additional seasoned professionals in the ABL sector should a serious upswing in business occur. Bill Davis, recently retired managing director of Wachovia Capital Finance agrees, noting that one of the bigger concerns for asset-based lenders is the need for more quality people to manage operations and grow portfolios. Davis says, “It’s a very tight market on the human capital side. Good people are at a premium.”

Now, those in the field are scouting out possible prospects outside of asset based lending — those with transferable skills sets. Davis notes, “We have been looking outside of the industry to recruit corporate bankers, for one, or those in investment banking. Generally, they’re looking at portfolio people who have some asset-based experience.”

Experienced people are certainly going to be in need, as industry execs do foresee a growth in business, says Jim Rothman, president of Capital Temp- Funds. He predicts a backlog of business for the ABL sector in 2008, especially as these lenders expand their operations to accommodate other services. Rothman refers to these “value-added alliances” with other industries as a critical component to growing business.

Healthcare Collateral Consulting, LLC ("HCC") offers innovative value added services including field examinations, credit, underwriting, risk analysis, account management, and executive recruiting for healthcare lenders, including banks, asset-based lenders, private equity and institutional investors. HCC's associates have extensive healthcare experience in credit, collateral, underwriting, audit, workout management, operations, and account management.

Article: Lenders predict credit crunch will bring increased business for 2008, but express concerns about the U.S. economy and the need for human capital. - By Myra A. Thomas

Link: http://www.cfa.com/documents/TheSecuredLender_Thomas_Jan08.pdf

If you are interested in learning more, Mr. David J. Lacasse can be reached at the following email address: djlacasse@gmail.com . Please included your name, title, company name and phone number.

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