SFNet surveyed bank and non-bank lenders on 2022 performance and 2023 outlook

NEW YORK, NY,April 26, 2023 ─ There was solid growth in commitments and outstandings in the asset-based lending market last year and portfolio performance was strong, according to data released by the Secured Finance Network. The factoring industry proved similarly resilient in a challenging economy and began 2023 on a positive note.

Lender confidence held steady, as well, with banks and non-bank lenders maintaining a positive outlook despite inflation and higher interest rates. In the most recent Confidence Index, they pointed to the industry’s resiliency and had high expectations in the demand for new business, hiring and client utilization.

U.S. Bank announced it hired Daniel Stampfel and Mitch Rubin as senior vice presidents of its asset-based finance division. The hires are part of a strategy for the broader U.S. Bank commercial banking team to continue its expansion in Texas and across the country to better serve middle-market clients.

Here we sit with Daniel, Mitch and David Slavik, SVP, national sales director – middle market, U.S. Bank Asset Based Finance, to discuss expansion in New York and Texas, goals for the rest of the year, and industry trends and predictions.