January 13, 2020 08:30 AM Eastern Daylight Time
NEW YORK, NEW YORK. Seaport Specialty Lending LLC (“Seaport”) announced today that it is enhancing operations due to its early success. Seaport is a specialty finance lender funding multiple verticals which include debt buyers purchasing defaulted consumer loan portfolios. Seaport funded $15mm in December and has a very robust pipeline of deal flow which requires operational enhancements to service strong market demand.
As part of its growth initiative, Seaport recently hired Edward S. Forbes to lead Seaport’s business development efforts. Mr. Forbes has twenty-five years of experience in the receivables management industry including overseeing outsourcing and managing debt sales for JP Morgan Chase as well as being a co-founder of CreditMax LLC which became one of the largest debt buyers and re-sellers in the ARM industry. Most recently, Mr. Forbes served as VP Business development at CMAX Finance, LLC, a specialty finance company and founded Stirling Capital Management, a brokerage and advisory company.
Chris Parolie, co-founder of Seaport, stated that “we are extremely excited to welcome Ed as he can assist us in becoming a leading provider of specialty financing solutions to the receivables management industry. Since inception, we have exceeded expectations in funding deployment and as we continue to expand Ed will be a significant contributor.” Michael Bernstein, managing director at Seaport added “there’s tremendous tailwind in supply of paper which has created the funding opportunity for Seaport to become the industry leader. With Ed’s stellar reputation, expertise, and relationships in the market place we’re confident we can surpass our funding deployment goals for 2020 and beyond.”
This press release is courtesy of Seaport Specialty Lending.