Sept. 15, 2020 — In a move certain to alter the asset-based lending landscape, Great Lakes Business Credit has a new CEO with expansive plans for the lender. Business finance pioneer Rhett B. Rowe, whose record as the company’s Senior Managing Director attracted investment group interest, has now assumed overall responsibilities as the CEO of the firm.
Founded in 2002, Great Lakes Business Credit has a long record of providing financing to companies seeking to regain financial stability and return to conventional financing. Acting on new CEO Rowe’s vision, Great Lakes Business Credit is moving to bolster its portfolio in the Great Lakes Region as well as expand into a much larger presence covering the nation east of the Mississippi.
“Our mission is to fill the important niche of an interim financial partner for companies with potential that are currently unable to obtain or maintain bank financing,” states Rowe. “We are able to accept a wide variety of lendable collateral that cannot be considered in conventional finance.”
Great Lakes experts routinely structure financing packages ranging from $500,000 to $6 million – all with the goal of enabling borrowers to achieve stability in one year. “We have a seasoned team of dedicated finance professionals and with nearly unlimited capital, Great Lakes is well-positioned to help businesses find financial stability in this extremely challenging economy. We assist companies with needed capital and help improve their operations, all with the goal of enabling their re-engagement with conventional banking partners,” Rowe states.
Rowe, a highly respected leader with more than 30 years in finance, has always been an innovator and has a proven track record of energizing sales operations, building successful sales and credit teams, managing key accounts, and optimizing people and processes. He has previously served as the CRO and COO at GMA Fund, an international family office, and held earlier C-level positions at Capital for Merchants of North American Bancard, KeyBank, First National Bank of Colorado, PMFCU, Arvest Bank, Comerica Bank, and others. Rowe is active in the Association for Corporate Growth, Turnaround Management Association, Secured Finance Network, and Risk Management Association. Entering commercial banking after earning his degree in economics at the University of Michigan, Rowe soon after completed his MBA in finance at the University of Detroit.
Great Lakes Business Credit is located at 1700 West Big Beaver Road, Suite 235, Troy, Michigan.
About Great Lakes Business Credit: Located in Troy, Michigan, Great Lakes Business Credit was established in 2002. Its experienced team of dedicated financial professionals serve companies with potential that are unable to obtain bank financing. By working to understand their client’s business, Great Lakes structures flexible financing with asset-based lines of credit. Eligible collateral categories include accounts receivable, inventory, machinery and equipment, and, owner-occupied commercial real estate.