AloStar Business Credit announced that David Phillips has been promoted to Managing Director, Head of Originations. Phillips has been with AloStar since May 2011 and was an integral part of establishing the company which three years since inception has generated over $1 billion in financing commitments.

Phillips is an industry veteran with over twenty-five years of experience in asset-based lending. His experience comes by way of his work with The CIT Group, Wells Fargo Capital Finance, and Regions Business Capital. 

“David has the experience, the relationships and a strategic focus to take our team to the next level,” said Andy McGhee, President, AloStar Business Credit, “we are excited and energized about the possibilities as we move into the future with David as our leader.”

An active member of the Commercial Finance Association, the Turnaround Management Association and the ACG, he is a graduate of Georgia Southern University.

AloStar Business Credit provides asset-based lending products nationwide to businesses ranging between $20 million and $300 million in revenue and with financing needs ranging between $5 million and $40 million. AloStar Business Credit is the asset-based lending arm of AloStar Bank of Commerce.