Axiom Bank expanded its factoring and asset-based lending division with the hiring of Mark J. Simshauser as SVP of Allied Affiliated Funding.

Based on Long Island, NY, Simshauser will be responsible for expanding Allied and Axiom’s existing commercial portfolio by working with business owners and centers of influence throughout the Northeast to find solutions that meet their individual financial needs. He brings to his new role for Axiom Bank more than 20 years of experience, half of which focused solely on building transcontinental portfolios for both bank owned and independent financial institutions.

“Mark is well-known among small business owners, consultants, accountants, attorneys and business bankers in the Northeast US region – making him a perfect fit for our growth plan in the Northeast,” said Dan Karas, Executive Vice President of Allied Affiliated Funding. “Having worked with Mark in the past, I know his dedication and expertise in helping small business owners struggling with capital issues.”

Simshauser earned bachelor’s degrees in communications and business administration, and a master’s degree in economics from State University of New York at Fredonia.

Axiom launched its factoring and asset-based lending division in July 2018, when the bank acquired Allied Affiliated Funding. The move added a new line of service for commercial clients that could not meet the requirements of traditional commercial bank financing. Allied finances clients ranging from startups to high growth to those experiencing financial challenges.