Medallion Business Credit announced that asset-based lending specialist Robert Reagan has joined the firm as Business Development Officer. Medallion Business Credit is a leading asset-based lender providing revolving lines of credit and term loans secured by a wide range of assets to help small and middle market companies grow and succeed.

Reagan will be responsible for business development in the New Jersey and Pennsylvania areas. He will be joining Medallion’s experienced business development team of Barry Schneck and John Canfora.

“I’m looking forward to working with such a dynamic team,” Reagan said. “Medallion is known for their team approach structured to complete transactions quickly.  As a Business Development Officer, working with such an agile organization expedites the decision process for me and ensures my success.”

“We’re excited to welcome Bob to the firm,” said Jerry Grossman, President of Medallion Business Credit. “He brings a long-term tenure in the asset-based industry as well as a vast knowledge base and network. He’s an expert in meeting the needs of businesses facing operational, financial and growth challenges. Adding him to our team will enable us to extend our reach and assist more businesses.”

Reagan comes to Medallion from Summit Financial Resources, where he introduced the Summit brand to the New Jersey, Pennsylvania and Delaware markets and increased their loan portfolio. There he structured loans as receivable factoring facilities or ledgered asset-based loans including those secured against inventory, machinery and equipment. Previously, he worked with several leading lending institutions, including Porter Capital Corporation, Greenfield Commercial Credit and Royal Bank America’s ABL Group.

In addition, he is a member of the Turnaround Management Association (TMA), the Garden State Credit Association, and New Jersey Staffing Association.

Medallion Business Credit is a leading asset-based lender providing revolving lines of credit and term loans from $250,000 to $7 million secured by a wide range of assets including accounts receivable, inventory and purchase orders, machinery and equipment, and real estate. They also provide financing for debtor-in-possession, turnaround, acquisition and growth facilities.