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Business Lenders Adds Additional Lender in Chicago, Hires Former VP from Mortgage Services Corporation
CHICAGO, Illinois - March 27, 2000 - Business Lenders, LLC, a non-bank, Preferred Small Business Administration (SBA) lender, continues its nationwide growth - and its commitment to the Illinois market - by adding an additional lender to its Chicago office. Business Lenders' Chicago office is located at 111 West Washington Street, Suite 1270. Tim A. Lane, who brings more than 12 years experience in small business finance, as well as mortgage and commercial lending, comes to Business Lenders from Mortgage Services Corporation, in which he served as vice president, responsible for developing, implementing and supervising regional new business, marketing and sales plans. He had previously served in similar roles for Loan Man Financial Corporation; Premier Financial Group;
Econ Mortgage Services, Inc.; Midwest Capital Mortgage Corporation; and Hartland Financial Services, Inc.
"Tim's experience in the commercial lending industry gives him a valuable perspective on our business," says Business Lenders President Gary Mullin. "His efforts to secure commercial loans through banks gives him an appreciation for the particular challenges of those funding sources. At the same time, it allows him to appreciate the advantages Business Lenders can offer through SBA-backed, non-bank lending. And his being a Chicago-area native is a great fit with our long-term interest there. We're very happy to have Tim aboard."
Lane's far-ranging experience in commercial lending is further augmented by his post-graduate studies in Mortgage Law, Illinois Insurance Law and Advanced Underwriting Standards.
Headquartered in Hartford, Connecticut, Business Lenders is one of the nation's top-ten, non-bank, SBA lenders, with approval to lend in 47 states. A member of the Medallion Financial Group, a New York-based specialty finance company (NASDAQ symbol: TAXI), Business Lenders received the SBA's Gold Award for its volume of approved loans in 1999 and can be reached toll free at (877) 345-6267.
