NEEDHAM, Mass., Oct. 13, 2021 /PRNewswire/ -- Needham Bank, which for more than a century has served as New England's "Builder's Bank," has established a new Structured Finance team focused on providing senior capital to emerging and high-growth companies.
"New England is one of the most robust and diverse economic regions in the U.S. and a driver of innovation. Needham Bank has been a proud supporter of this growth through generations, and we are pleased to offer this new opportunity to propel our community's future," said Joe Campanelli, President and Chief Executive Officer of Needham Bank.
Led by banking industry veteran James Daley, the new Structured Finance team provides customized financing solutions of $10 million or more to support the growth plans of businesses headquartered primarily in Massachusetts, Rhode Island and Southern New Hampshire. Through this new division, Needham Bank partners with company owners, senior management teams, private equity sponsors and other corporate finance professionals to provide businesses with the right corporate debt solutions that meet their needs. Financing structures support growth and expansion, working capital needs, acquisition plans, new projects and even leverage-backed buyouts.
"Needham Bank has an exciting opportunity to work with the founders and executive teams of New England businesses who have a strong vision and business plan to create jobs and power their future," said Daley. "I am pleased to be part of an organization that is dedicated to developing new avenues of growth as part of its commitment to the community."
The Structured Finance group's portfolio of clients already includes a range of businesses, including manufacturers, private and higher education institutions, sports and recreation, automobile financing and specialty contractors. Daley and his team are also focusing on the growing demand for energy sources that are reliable and improve public health. They have grown the bank's portfolio of customers in the renewable energy sector for commercial solar and wind power projects to meet the burgeoning demand for energy sources that protect the environment by combating climate change.
The new team reflects Needham Bank's ongoing commitment to growth and innovation -- the core of the bank's 120-year legacy of providing local community members with the services and support they need to thrive. The Structured Finance team complements the bank's core Commercial Real Estate Lending group by expanding its Commercial & Industrial lending division, which Needham Bank has been growing for the past decade to serve Small Business (loans up to $2 million) and Middle Market (loans of $2 million-$10 million) entities. The Structured Finance team also gives Needham Bank a platform to engage in larger transactions through syndications and participation lending with other commercial banking institutions.
Prior to joining Needham Bank as Senior Vice President and Director of the Structured Finance group, Daley was an SVP Team Leader at Customers Bank, managing a portfolio of commercial loans totaling over $300 million. He also managed commercial loan portfolios and served as a credit analyst at banks including Flagstar Bank, First Trade Union Bank and Banco Santander (Sovereign Bank). He received a Bachelor of Business Administration from George Washington University with a concentration in International Business.
In addition to the growth capital, lines of credit and other senior debt instruments available through the Structured Finance team, Needham Bank offers business clients concierge banking services, including deposits, cash management, credit cards, and merchant services. To learn more about Needham Bank's Structured Finance and other services, visit www.NeedhamBank.com.
About Needham Bank
Needham Bank offers an array of tech forward products and services that businesses and consumers need to manage their financial needs. We have the financial expertise typically found at much larger institutions, and the local knowledge and commitment you can only find at a community bank. Known as the "Builder's Bank", Needham Bank has been helping individuals, businesses and non-profits build for their futures since 1892. For more information please visit https://NeedhamBank.com. Needham Bank is a member of FDIC and DIF.
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SOURCE Needham Bank