Crestmark President and COO Mick Goik announced the promotion of Ray Morandell to executive vice president, national sales director.

“Crestmark has marked its 20th year of helping small- and medium-sized businesses access the funding they need to move their companies forward,” said Goik. “Ray’s leadership, his commitment to growth initiatives, and his sales team have been important to the success of our mission. It is with great pleasure that I announce Ray’s promotion to executive vice president,” Goik added.

Since joining Crestmark in 2008 as senior vice president, sales manager for the Midwest Region, Morandell continues to strengthen the company’s nationwide presence. In 2011, he was named to Crestmark’s Executive Committee and in 2013, he was promoted to senior vice president, national sales director. He oversees a national sales team that provides diverse funding solutions to businesses in manufacturing, staffing, oil and gas well servicing, food manufacturing and distribution, among many others.

Morandell has more than 35 years of experience in banking and finance. He began his career as an investment associate for FNB of Pennsylvania. Since then, his career includes the following: vice president of corporate banking and structured finance for PNC Bank; vice president of business development for GE Capital Corporation; and senior vice president, national sales manager for Textron Financial Corporation.

Morandell has a bachelor of science in economics from Allegheny College, an M.S. in applied economics and finance from the University of Delaware, and a graduate degree in banking and credit from Stonier Graduate School of Banking.

Morandell is a member of the Commercial Finance Association, Turnaround Management Association, and Association for Corporate Growth.

Crestmark is an FDIC-insured bank that provides innovative financial solutions for businesses nationwide. Financing solutions include asset-based lending, accounts receivable financing, lines of credit, term loans, factoring, machinery/equipment financing and equipment leasing. Crestmark has extensive experience in helping many industries including transportation, manufacturing, staffing, petrochemical, government contractors, apparel/footwear/furniture distribution/manufacturing, hospitality/hotels, insurance agencies, and technology hardware/software. Headquartered in Michigan, with additional offices in California, Florida, Louisiana, Tennessee, New York, and Illinois; and representatives nationwide.