MotivNation announced the formation of Stonehill Business Credit Corporation, as a wholly owned subsidiary of the company. Stonehill plans on creating a diversified investment portfolio of asset backed financial products to address the capital needs of small and middle market businesses.

Among its services Stonehill will provide customized leasing and finance programs dedicated to meet the growth objectives of that market. The company will provide term loans, equipment leasing and all asset financings for quality businesses from $15,000 to $250,000.

Additionally, Stonehill chairman William Hayde said that Joseph J. Messina has joined Stonehill as president. Previously, Messina was a principal partner of Suisse Finance (America), an international financial advisory firm providing strategic investment advisory services for U.S. based companies on the European equity capital markets.

Prior to the formation of SFA, from 1992, Messina was chairman and CEO of Ameristar Capital Corporation, a lease financing and asset based lender and Ameristar Group Incorporated, a corporate advisory and capital markets consulting firm. From 1978-1992, he was president and chief operating officer of Vendor Funding, a company he co-founded which was a national middle market equipment lessor and asset based lender. Vendor Funding was acquired by First NH Banks of Manchester, New Hampshire, a subsidiary of Bank of Ireland First Holdings.

MotivNation’s business has transitioned from the automotive sector and is now focusing its business to facilitate capital needs of small and middle market businesses with the introduction of Stonehill Business Credit Corporation.