BOSTON, May 3, 2011 (GLOBE NEWSWIRE) -- NewStar Business Credit, a division of NewStar Financial, Inc. (Nasdaq:NEWS) announced today that it has hired Nina Fairchild as a Senior Vice President and will open a new office in Philadelphia, PA. Fairchild will lead NewStar Business Credit's marketing and origination efforts in the Mid-Atlantic region with responsibility for generating new asset-based financing opportunities with middle market companies.
Ms. Fairchild has more than 20 years of experience in structuring, originating and managing debt financings for middle market firms. Prior to joining NewStar, she was a Senior Vice President with Citibank's Commercial Banking Group in Philadelphia and was involved in all phases of the lending process. Previously, Ms. Fairchild worked for HSBC and Finova Capital Corporation.
"I am thrilled to be a part of NewStar Business Credit's dynamic team of experienced commercial finance executives and to lead its regional marketing efforts from their new Philadelphia office. I am also looking forward to working with Milt Iskra again and getting back to my roots of originating and structuring creative and flexible financing solutions for middle market companies," said Ms. Fairchild.
"Nina is well known in the market and will be a great addition to our origination efforts in the Mid-Atlantic region," said Milton Iskra, EVP and National Marketing Manager for NewStar. "I have worked with Nina in the past and am excited to have her join us. She adds substantial depth to our team with a valuable combination of marketing reach, credit skills and deal execution experience."
NewStar Business Credit provides asset-based loans to mid-sized companies operating across a wide range of industries in the middle market. NewStar offers a variety of flexible financing options through a combination of revolving lines of credit and term loans, targeting deal sizes from $5 million to $25 million.
About NewStar Financial, Inc.:
NewStar Financial (Nasdaq:NEWS) is a specialized commercial finance company focused on meeting the complex financing needs of companies and private investors in the middle markets. The Company specializes in providing a range of senior secured debt financing options to mid-sized companies to fund working capital, growth strategies, acquisitions and recapitalizations, as well as, equipment purchases. NewStar originates loans and leases directly through teams of experienced, senior bankers and marketing officers organized around key industry and market segments. The Company targets hold positions of up to $30 million and will selectively underwrite or arrange larger transactions for syndication to other lenders. NewStar is headquartered in Boston MA and has regional offices in Darien CT, Chicago IL, Dallas TX, Los Angeles CA, Philadelphia PA, and Houston TX. For more detailed information about our product capabilities, as well as, recent transaction and contact information, please visit our website at www.newstarfin.com.
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