Allied Affiliated Funding announced the promotion of Joel Flig to executive vice president, principal. Flig originally joined Allied in January 2010 as managing director, new business for the Northeast region of the United States, where he has been personally responsible for generating more than half of all new business developed during his three years with Allied.

Flig is a senior finance executive and seasoned marketing professional, highly experienced in new business development and in the evaluation of factoring opportunities. "Joel is a tremendous asset to our team," said Clay Tramel, CEO.  "His leadership, strong work ethic, and solid business and broker relationships have proven to be invaluable."

Prior to joining Allied, Flig worked as the EVP and national sales manager for Greystone Business Credit, where he was responsible for all new business proposals sent out to clients, and he managed and developed a nationwide sales force of seven people.

Prior to that, he was the founder and co-president of Financial Solutions Group/Capital Solutions Group, an investment banking company specializing in the placement of middle market companies requiring asset based and factoring credit facilities. They arranged and placed more than $600M in debt transactions nationwide.

Before founding his own company in 1990, Flig worked in the Corporate Lending Division of Aspen Federal Bank and Union Chelsea National Bank and in Middle Market Lending at Republic National Bank of New York. He also completed the Management Development Program at Chase Manhattan.

Allied is a nationwide commercial finance company specializing in accounts receivable factoring, offering facilities from $100,000 up to $10 million.  Founded in 1992, Allied remains one of the longest-tenured, privately owned factoring companies in the United States.