Loeb announced the addition of Tim Serritella to the team as Vice President of Business Development. Serritella joins the rest of the Loeb team in focusing on expanding the company's equipment-based lending portfolio, appraisal services, and off-lease remarketing services.

"Tim's addition to the team is an exciting one as Loeb continues its expansion in the marketplace," stated Jim Newman, Loeb Term Solutions Managing Partner.  "We've previously worked with Tim on deals together and when the opportunity to add him to the team presented itself, we jumped at it. I can't wait to see what we can do together."

Serritella is a seasoned business professional with over two decades of success providing financial and management solutions to business owners and senior management. His past experiences in banking and finance include working as loan workout officer, working in business development for a Midwest commercial lender, and working in turnaround for a multi-million dollar logistical services company. He has formed and successfully operated a variety of entrepreneurial ventures including an independent commercial loan brokerage business.  He entered the industrial marketplace in 2012 where he focused on sourcing asset disposition and bridge loan opportunities. He is very active in the regional and national chapters of the Turnaround Management Association, the Commercial Finance Association, the Association for Corporate Growth, the Midwest Business Brokers and Intermediaries and in Rotary International.

Since 2010, Loeb Term Solutions has provided funding on over $180 million dollars' worth of industrial machinery. The company's asset-based lending division offers term loans on machinery and equipment with funding amounts ranging from $300,000 to $20 million.

Serritella is based out of Loeb's global headquarters in Chicago and will be working with lead sources throughout Chicago, Illinois, Wisconsin,  and all states west of the Mississippi providing equipment based financial solutions.

Loeb Term Solutions is an affiliate of Loeb, a fifth generation provider of reliable equipment and related services to the industrial marketplace.  

For five generations since 1880, Loeb has been a trusted provider of reliable equipment and related services that help manufacturers and financial institutions leverage their industrial assets by managing the equipment lifecycle.