Press Release

 

03 11 2015

Todd Stichler, National Funding Director of Middle Market Lending

03 11 2015

National Funding Expands into Middle Market Lending, Providing $250,000 – $1MM in Financing to Medium-Sized Businesses

National Funding, one of the country’s largest private lenders of small business loans, has announced its expansion into the middle market lending segment and will now target medium-sized businesses that are in need of financing from $250,000 to $1 million.

Previously, National Funding had focused primarily on the small business segment and provided the majority of its loans under the $250,000 mark. This growth will allow National Funding to reach a broader audience and help a more diverse group of businesses access funding. Expanding into the middle market will help the company reach more high capital, tenured medium-sized businesses than before.

“There is a demand in this market that has been drastically underserved,” said David Gilbert, CEO of National Funding. “We are already seeing the opportunity for loans of this size in our existing pipeline, but we have not been able to service this level of funding until now. We are thrilled to be expanding our lending window to offer more businesses even more options.”

To lead this effort, National Funding has hired Todd Stichler as Director of Middle Market Lending. Stichler was formerly Managing Director of LendSpark, a San Diego-based middle market lender that arranged financing for small and medium-sized businesses in various phases of the business cycle. Previously he served as CFO for an $80 million, 350-person design and construction company specializing in education, healthcare and civic facilities.

“I have watched National Funding grow and have been impressed by the aggressive posture the company takes in the marketplace,” said Stichler. “By taking advantage of existing resources and expanding to service to larger companies than National Funding has traditionally targeted, the company has a tremendous opportunity in the middle market. As many of these companies already have banking relationships in place, National Funding serves as a supplemental funding partner for additional financing that is needed, but not approved by the bank.”

Stichler has a master’s degree in finance from the University of San Diego. He is on the board of Sharp Healthcare Foundation and on the Parent Advisory Board of the Neonatal Research Institute at Sharp Mary Birch Hospital for Women & Newborns. Stichler will be based out of National Funding’s headquarters in San Diego, California.

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Terms & Conditions

General Acceptance

Any applications submitted electronically shall have the same force and effect as if the application bore an inked original signature(s). The above information, together with any accompanying financial statements, schedules, or other materials, is submitted for the purpose of obtaining credit and is warranted to be true, correct, and complete.

 

US Patriot Act:

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person and business that seeks a business loan. What this means for you: When you apply for a loan, we will ask for your business name, address, and Tax Identification Number. We will also ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.

 

For Loan/Merchant Services:

The Merchant and Owner(s)/Officer(s) identified in the application (individually, an “Applicant”) each represents, acknowledges and agrees that (1) all information and documents provided to National Funding, Inc. (“NF”) including credit card processor statements are true, accurate and complete, (2) Applicant will immediately notify NF of any change in such information or financial condition, (3) Applicant authorizes NF to disclose all information and documents that NF may obtain including credit reports to other persons or entities (collectively, “Assignees”) that may be involved with or acquire commercial loans having daily repayment features and/or Merchant Cash Advance transactions, including without limitation the application therefor (collectively, “Transactions”) and each Assignee is authorized to use such information and documents, and share such information and documents with other Assignees, in connection with potential Transactions, (4) each Assignee will rely upon the accuracy and completeness of such information and documents, (5) NF, Assignees, and each of their representatives, successors, assigns and designees (collectively, “Recipients”) are authorized to request and receive any investigative reports, credit reports, statements from creditors or financial institutions, verification of information, or any other information that a Recipient deems necessary, (6) Applicant waives and releases any claims against Recipients and any information-providers arising from any act or omission relating to the requesting, receiving or release of information, and (7) each Owner/Officer represents that he or she is authorized to sign this form on behalf of Merchant.(8) I consent to receive direct mail, faxes, text-messages, and e-mails sent by National Funding and its affiliates for the purposes of transmitting account updates, requests for information and notices, and (9) this request is for business and not for consumer purposes.

 

For Equipment Services:

I hereby certify: (1) the information provided is true and correct, (2) you are hereby authorized to investigate all bank, credit, and trade references, and said references are hereby authorized to release any requested information to you or your nominee, (3) such authorization shall extend to obtaining personal credit profile in considering this application and subsequently for the purposes of update, renewal or extension of such credit or additional credit and for reviewing or collecting the resulting account, (4) this information may be transmitted by us to you and by you to underwriter(s) for the purpose of granting me credit, either electronically or manually, and that by submitting this application, I take full responsibility for transmission thereof, (5) I am over 18 years of age, (6) I acknowledge my rights under the Fair Credit Reporting Act, (7) I consent to receive direct mail, faxes, text-messages, and e-mails sent by National Funding and its affiliates for the purposes of transmitting account updates, requests for information and notices, and (8) this request is for business and not for consumer purposes.

 

Text Messaging:

By providing my wireless phone number to National Funding, Inc., I agree and acknowledge that National Funding, Inc. may send text and multimedia messages to my wireless phone number for any purpose. I agree that these text or multimedia messages may be regarding the products and/or services that I have previously purchased and products and/or services that National Funding, Inc. may market to me. I acknowledge that this consent may be removed at my request but that until such consent is revoked, I may receive text or multimedia messages from National Funding, Inc to my wireless phone number.

  
The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status or age (provided the applicant has the capacity to enter into the binding contract); because all or part of the applicant’s income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. If for any reason your application for business credit is denied, you have the right to a written statement of the specific reasons for the denial. To obtain the statement, please write to National Funding Inc., 9820 Towne Centre Drive, San Diego, California 92121. Funding amount and credit approval is subject to a full credit profile review.