Crestmark Vendor Finance promoted Cheryl Baker to vice president, operations; Mike King to officer, small ticket credit analyst and Scot Lund to senior vice president and division manager.

“We are proud of the success of this new division and its people. These appointments build upon our progress and further establish Crestmark’s nationwide presence as a major provider of equipment financing and asset-management solutions,” said Mick Goik, Crestmark president and chief operating officer.

Crestmark also reported record growth in its small ticker leasing division a little more than a year after the acquisition of equipment leasing company Allstate Capital.

“We have enjoyed the growth and expanded resources by becoming part of a larger establishment,” said Alex Echevarria, division executive vice president and previous president of Allstate Capital. “We’re still providing innovative financing to our client base, but have been able to expand our reach, and are proud of all team members as we continue to grow.”

Baker is based in Bloomfield Hills, MI, and reports to Lund. She joined Crestmark in 2017 as assistant vice president, documentation manager and was later promoted to vice president. Before joining Crestmark, she was documentation supervisor at Lease Corporation of America (LCA), a role she held for 20 years. Prior to that, Baker worked as a commercial lending biller for Standard Federal Bank.

King is based at the Bloomfield Hills office and reports to Baker. King joined Crestmark in 2013 as an operations intern. In 2014, he was promoted to payment analyst and in 2015 was promoted again to client analyst. Subsequently, he accepted the role as junior field examiner for the bank in 2016 before joining the small ticket leasing division as credit analyst last year.

Lund reports to Goik. He has been part of Crestmark’s management team since 2012 and was a key part of the Allstate Capital acquisition in 2017.

“We’ve experienced fantastic growth. In the first year, CVF secured 685 lease transactions for a total of $58,777,880. We’ve also syndicated another $1,500,000 — not too shabby,” Lund said. “This year, we’ve already surpassed our annual volume goal. The Allstate Capital (now CVF) team has always been known for their hard work and attention to service, and now, so are the new team members. With growth comes opportunities; it’s with great pleasure that we announce our success and recognize these individuals.”

In addition to the promotions, Gary Greenspan joined Crestmark as vice president, national account manager. With a background of more than 33 years as a business owner and in the finance industry, he will report to Lund.

Greenspan came to CVF from Lease Corporation of America (LCA), where he was senior account executive. Prior to that, Greenspan served as a mortgage banker at Goldstar Financial and also at Quicken Loans. Earlier, he was principal at Orchard Management, where he owned and managed more than 300 apartment rentals, and principal at Smokers Express Franchise, where he created, owned,and franchised 14 stores in Michigan and Ohio.