Loeb added Andy King as executive vice president of originations. He will focus on expanding the company’s equipment-based lending portfolio, as well as appraisal, auction and off-lease remarketing services.

“Loeb has grown its finance group with great people and with the addition of Andy that continues,” said Jim Newman, principal of Loeb Term Solutions. “I look forward to working with Andy and having him take over the Origination part of our group.”

King brings more than 16 years of experience as a senior bank executive with experience as a middle market commercial banking officer. He previously worked at PrivateBank with its special assets group and, most recently, with First Midwest Bank, King focused on lending to finance companies, leasing companies and collateral lenders.

He will be based out of Loeb’s corporate headquarters in Chicago and will be working with lead sources nationwide providing solutions across all of Loeb’s business divisions.

Since 2010, Loeb Term Solutions has provided funding on over $200 million dollars’ worth of industrial machinery. The company’s asset-based lending division offers term loans on machinery and equipment with funding amounts ranging from $300,000 to $20 million.

Loeb Term Solutions is an affiliate of Loeb, a fifth generation provider of equipment and related services to the industrial marketplace.