Bridge Bank Expands Capital Finance Group with New Managing Director Timothy Carstens
Asset-based Lending Capabilities Geared to Businesses Across the Country
SAN JOSE, Calif., July 8, 2020 /PRNewswire/ -- Bridge Bank today announced it is expanding its Capital Finance group, which provides a full complement of asset-based lending solutions. The group now will be led by managing director Timothy Carstens, who joins Bridge Bank from Fifth Third Business Capital.
The Capital Finance team works with companies across the economy and across the country, as part of Bridge Bank's parent company Western Alliance Bank which operates individually branded, full-service commercial banking divisions in Arizona, California and Nevada, as well as specialized financing groups serving businesses nationwide. Capital Finance has been a focused business area at Bridge Bank for more than 15 years.
"We are bolstering our team and our focus on asset-based lending, providing the right products at the right time for today's economic environment," said Dan Myers, chief executive officer, Bridge Bank. "As business in a wide variety of industries and markets face new challenges, we are ready to offer solutions that make sense for their needs now to help them to manage through the current landscape."
The lending group offers a range of asset-based and factoring solutions, including accounts receivable, inventory and invoice financing, to provide lines of credit and working capital. The group's expertise supports companies in manufacturing, professional services, retail, technology and more that are experiencing unusual market conditions that might hamper their ability to adhere to traditional covenants and credit structures.
"The customer-centric, entrepreneurial approach at Bridge Bank and Western Alliance is appealing, especially during this time when many businesses will need the tailored, asset-based lending solutions we offer to see their companies through," said Timothy Carstens, who will guide the specialized Capital Finance group from offices in Phoenix. "As we grow our group, the broad strengths of Bridge Bank and Western Alliance will benefit our clients across the country."
A seasoned banking professional with more than 30 years of experience, Carstens most recently was director and senior vice president with Fifth Third Business Capital in Arizona. His asset-based lending expertise was honored during more than 20 years with Wells Fargo, where he began his career.
Timothy Carstens can be reached at (602) 386-2455, or [email protected]
About Bridge Bank
Bridge Bank, a division of Western Alliance Bank, Member FDIC, helps business clients realize their ambitions. Founded in 2001 in Silicon Valley, Bridge Bank offers a better way to bank for small-market and middle-market businesses across many industries, as well as emerging technology companies and the private equity community. Geared to serving both venture-backed and non-venture-backed companies, Bridge Bank delivers a broad scope of financial solutions including capital, equipment and working capital credit facilities, venture debt, treasury management, asset-based lending, SBA and commercial real estate loans, ESOP finance and a full line of international products and services. Based in San Jose, Bridge Bank has 16 offices in major markets across the country along with Western Alliance Bank's powerful array of specialized financial services. Western Alliance Bank is the primary subsidiary of Phoenix-based Western Alliance Bancorporation. One of the country's top-performing banking companies, Western Alliance has ranked in the top 10 on the Forbes "Best Banks in America" list for five consecutive years, 2016-2020, and was named #1 best-performing of the 50 largest public U.S. banks for 2019 by S&P Global Market Intelligence. For more information, visit bridgebank.com.
SOURCE Bridge Bank
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