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Great Lakes Business Credit Has Advice On New Round of Treasury, SBA Loans
The U.S. Treasury and the Small Business Administration (SBA) opened the door on $284 billion in new Paycheck Protection Program (PPP) loans for small businesses struggling during the pandemic, and the race to apply has already begun. Does Great Lakes Business Credit offer PPP loans? It does not. However, community-based banks and other lending institutions will be processing loan applications. The first round of PPP loans, which had $522 billion in funding behind it, evaporated in just months, so it’s...
Non-bank lender Great Lakes Business Credit in Troy names Rhett Rowe as CEO
Troy-based non-bank lender Great Lakes Business Credit LLC has named Rhett Rowe as its new chief executive, according to a news release. A veteran financial executive, Rowe, 56, previously served as the 18-year old firm's senior managing director. The company serves as an interim lender for companies unable to secure traditional financing. Deals are typically structured to provide between $500,000 to $6 million in liquidity for a period of around one year, according to the news release. The firm has...
Rhett Rowe named CEO at Great Lakes Business Credit of Troy
Rhett B. Rowe was named CEO of Great Lakes Business Credit of Troy. He previously served as the senior managing director of the company, which provides asset-based lending to businesses. Rowe has more than 30 years of experience in finance, with a background in managing key accounts, optimizing sales operations and building sales and credit teams, according to a press release. During his career, he has served as the CRO and COO at GMA Fund and held earlier C-level positions...
Great Lakes Business Credit Names Rhett B. Rowe as CEO
Sept. 15, 2020 — In a move certain to alter the asset-based lending landscape, Great Lakes Business Credit has a new CEO with expansive plans for the lender. Business finance pioneer Rhett B. Rowe, whose record as the company's Senior Managing Director attracted investment group interest, has now assumed overall responsibilities as the CEO of the firm. Founded in 2002, Great Lakes Business Credit has a long record of providing financing to companies seeking to regain financial stability and return...