Encore Lending Solutions, LLC is a NEWCO in the likeness of Sterling Commercial Credit a company founded in 2004 by W. Edwin and Karen Small. The former company Sterling Commercial Credit was sold in 2022 for a 5.5x multiple.The vision forward is to establish a specialty lending company that focuses…
Encore Lending Solutions, LLC is a NEWCO in the likeness of Sterling Commercial Credit a company founded in 2004 by W. Edwin and Karen Small. The former company Sterling Commercial Credit was sold in 2022 for a 5.5x multiple.
The vision forward is to establish a specialty lending company that focuses on credit quality clients seeking working capital loans secured by short term assets. The client base with borrowing levels between $25K and $1million are unserved in the market and require special bed side manner.
At the height of the market, Sterling produced $8.6 million in revenue and $2.2 million in profits. At this time we serviced 125 + clients in 30 states. With the covid pandemic the influx of government money created a significant run off in the alternative finance space. Sterling lost 60% of their clients to government funding and ultimately sold after a 10-year joint venture with Crestmark Bank in Troy, MI.
Team (1)
Sectors ESMALLBIZ, LLC serves:
Manufacturing
Financial Services
Technology
Business Services
Distribution
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