CSI Financial to Fill Lending Void Created by
Nationwide, traditional financing sources are unable to meet the demand for business loans. CSI Financial
will provide small businesses financing through asset-based lending and factoring products.
July 19, 2010 06:03 AM Eastern Daylight Time
DENVER--(EON: Enhanced Online News)--In the wake of the ongoing credit crunch, small businesses unable to
secure traditional financing are turning to specialty lenders for help. Newly established CSI Financial, LLC(CSI) is
a commercial lending firm positioned to fill the lending void with its asset-based lending and factoringproducts.
Last year U.S. banks posted their sharpest decline in lending since 1942, suggesting the industry's continued slide is
making it difficult for economic recovery. As a result, banks are less willing to extend business loans and small
businesses are finding it virtually impossible to obtain financing.
Current market conditions prompted CSI founder and CEO, Christopher A. Smith, to establish the Denver-based
financial services company. Smith has over 20 years of commercial lending and capital markets experience. He most
recently served as Executive Vice President, Colorado President for Hillcrest Bank.
“Banks are not lending and that reality has small business owners looking to companies like ours for assistance,” said
Smith. “CSI has the resources to assist credit-worthy borrowers looking to innovate and grow their business,” said
Commercial finance companies like CSI can offer a variety of customized products because they are non-regulated
financial institutions and more entrepreneurial than typical banks. CSI will address the small business owners’
demand for loans with risk-adjusted products. Such products enable fast-growing, transitional or restructuring
businesses to obtain the working capital they need to grow by borrowing against their receivables and other eligible
Asset-based lending is more expensive but according to Smith,