Rise Line Business Credit has hired three staff to expand its new asset-based lending platform, the company said on Monday.
Paul Durosko will serve as senior vice president of underwriting at the new platform, according to a statement. Allan Gajadhar has joined the company as vice president of operations, and Michael White is now a financial analyst for the firm.
Rise Line launched the lower mid-market ABL platform to fund operations, acquisitions, and restructuring this February. “We see terrific opportunities to provide tailored capital solutions to lower middle market companies that are underserved and largely ignored by the market,” Dan O’Rourke, chief executive officer at Rise Line, said in a statement announcing the launch.
Durosko most recently served as senior vice president of credit at Medallion Financial. Before that post, he was director at Capflow Funding Group. He has also served in leadership positions at Transportation Alliance Bank, Morgan Stanley, Arthur Andersen, Fleet Capital, Transamerica Business Credit and Comerica Bank.
Gajadhar also joins Rise Line from Medallion Financial, where he was vice president.
“Paul’s breadth of experience and depth of knowledge across the ABL discipline and Allan’s experience and keen focus on loan operations will dramatically add to our underwriting and servicing competencies,” Gaurang Vyas, founding and managing principal of Rise Line, said in the statement.
Before joining Rise Line, White worked as a trade finance analyst for Noble Group, where he assisted in managing a $1 billion borrowing base facility and provided analysis on collateral and structured financing deals.
Rise Line is a New York-based company that offers asset-based revolvers, term loans, and special situation financing ranging from $2 million to $25 million for businesses in the US. The firm focuses on providing senior secured loans to the lower mid-market companies across retail, consumer products, commercial, industrial and healthcare.
The firm is an affiliate of the financial holding company LANDC Investment, which also owns placement agent FocusPoint Private Capital Group.