Republic Business Credit Hires Chris Costello as Senior Vice President, Underwriter
Costello brings decades of experience in Asset Based lending to Republic's underwriting team
NEW ORLEANS, Feb. 19, 2025 /PRNewswire/ -- Republic Business Credit is proud to announce the hiring of Chris Costello as SVP, Underwriter. Costello will join Republic's New Orleans office, reporting directly to the Head of Underwriting, Brian Daray. Costello is a seasoned professional with extensive experience in Asset Based Lending (ABL), bringing a wealth of credit, portfolio and transaction expertise to Republic's ABL capabilities.
Costello joins Republic with a distinguished lending career in secured finance, including seven years as a field examiner and, most recently, 12 years in underwriting and portfolio management for Capital One Bank.
Chris has a proven track record successfully managing diverse ABL portfolios, including lender finance, tax lien lending and traditional ABL, ranging from $5 million to $250 million facilities. Concurrently, Costello was instrumental in implementing innovative training and operational processes that enhanced efficiency, integration and compliance in his previous role.
'Chris's deep understanding of the ABL market makes him an invaluable addition to our team,' said Brian Daray, SVP Underwriting Manager at Republic. 'His expertise will be instrumental in delivering exceptional service to both potential and current clients.'
'Republic is a nationally recognized industry leader in the commercial finance and secured lending markets, and I am thrilled to join this exceptional team,' said Costello. 'I look forward to contributing to Republic's continued growth and success across its suite of ABL, e-commerce and factoring products.'
The ABL market continues to grow in popularity due to its flexibility, structure and enhanced risk mitigations, and Republic remains at the forefront of this industry development.
'2024 was a record-breaking year for Republic, with over $100 million in newly funded credit facilities, and 60% of our new clients were seeking ABL products,' said Republic CEO Stewart Chesters. 'Adding experienced professionals like Chris to our team strengthens our ability to provide the best experience to our clients. We remain committed to partnering with entrepreneurs and private equity firms, enabling their success with the help of our growing product team.'
About Republic Business Credit
Republic Business Credit is a nationally recognized commercial finance company supporting the working capital requirements of companies nationwide, including private equity backed and entrepreneurial businesses. Republic provides Asset Based Lending including support for e-commerce, ledgered lines of credit, factoring and Fast AR Funding facilities. Republic partners with its clients to provide up to $15 million in senior credit facilities to rapidly growing businesses, start-ups and companies experiencing recoverable distress. Republic is recognized by the Secured Finance Network as one of the largest finance companies in the United States of America. Republic is proud to be headquartered in New Orleans with additional offices in Chicago, Los Angeles, Houston and Atlanta. Republic is a wholly owned subsidiary of Renasant Bank.
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