CreditBench Welcomes Wade Stringfield as Vice President, SBA Lending Officer

Rhea-AI Summary

BayFirst National Bank has appointed Wade Stringfield as vice president and SBA lending officer within its SBA loan division, CreditBench, which was the No. 8 SBA 7(a) lender in the U.S. for the fiscal year 2022. Stringfield, with 15 years of experience, previously served as SBA sales manager at SaviBank, generating over $33 million in loans since 2021. His role focuses on expanding CreditBench’s market in the Pacific Northwest by marketing and closing SBA loans up to $5 million. BayFirst's CreditBench has originated over $1 billion in SBA loans since 2016, showcasing its commitment to small business lending and competitive offerings.

Positive

• Appointment of Wade Stringfield is expected to enhance SBA loan origination capabilities.
• CreditBench ranked as the 8th largest SBA 7(a) lender in the U.S. for FY 2022.
• CreditBench has originated over $1 billion in SBA 7(a) loans since 2016.

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• None.

ST. PETERSBURG, Fla., Feb. 23, 2023 (GLOBE NEWSWIRE) -- BayFirst National Bank has named Wade Stringfield vice president, SBA lending officer. He assumes the role within the Bank’s SBA loan division, CreditBench, which finished the SBA’s 2022 fiscal year as the No. 8 SBA 7(a) lender in the country.

Prior to joining BayFirst, Stringfield served as SBA sales manager at SaviBank in Burlington, Washington where he specialized in SBA 7(a) and USDA Business and Industry loans across the states of Washington, Oregon and Alaska, and personally produced more than $33 million in loans since 2021. He also previously held the positions of SBA program manager at WECU and SBA business development officer at Coastal Community Bank.

He brings 15 years of banking industry experience to the CreditBench Division. He is now tasked with expanding CreditBench’s reach in the Pacific Northwest region by marketing, originating and closing SBA (7a) loans up to $5 million utilized for business acquisitions, owner-occupied commercial real estate, debt consolidation and refinancing, equipment purchases, and working capital loans.

“Wade is a proven small business lender, which will significantly benefit not only the BayFirst team but also the small businesses we assist,” said Chris Hackney, senior vice president and director of SBA loan originations at CreditBench. “We know he will use this experience to drive results, and we are excited to see the impact he has on the advancement of our strategic initiatives in 2023 and beyond as we continue to bring in talent from across the U.S.”

Wade is a graduate of Pacific Coast Banking School and holds a Bachelor of Business Administration degree in Marketing and Finance from Oklahoma Baptist University and a master’s degree from the University of Oklahoma.

About CreditBench
CreditBench has originated more than $1 billion in SBA 7(a) loans since 2016. Its expert team utilizes streamlined processes and a technology-driven approach to provide loans under $350,000 and as large as $5 million. As an SBA Preferred Lender, CreditBench also delivers competitive rates, flexible requirements, fast closing times, and the personalized support small businesses need to reach their goals. It was the eighth largest SBA 7(a) lender nationwide and the No. 1 SBA 7(a) lender in the five-county Tampa Bay market in the SBA's 2022 fiscal year.

About BayFirst National Bank
Headquartered in St. Petersburg, BayFirst National Bank, the principal subsidiary of BayFirst Financial Corp. (Nasdaq: BAFN), operates eight banking centers in the Tampa Bay area and originates residential mortgages locally. In addition, BayFirst offers a broad range of retail and business banking services. Since it opened in 1999, BayFirst has grown exponentially without losing sight of its commitment to making an impact in the community and being Here for What’s Next® in the lives of its customers. For more information visit: www.BayFirstFinancial.com.

About BayFirst Financial Corp.
BayFirst Financial Corp. is a registered bank holding company based in St. Petersburg, Florida which commenced operations on September 1, 2000. Its primary source of income is derived from its wholly owned subsidiary, BayFirst National Bank, a national banking association. As of December 31, 2022, BayFirst Financial Corp. had $939 million in total assets.

Forward Looking Statements
In addition to the historical information contained herein, this presentation includes "forward-looking statements" within the meaning of such term in the Private Securities Litigation Reform Act of 1995. These statements are subject to many risks and uncertainties, including, but not limited to, the effects of the COVID-19 pandemic, global military hostilities, or climate change, including their effects on the economic environment, our customers and our operations, as well as any changes to federal, state or local government laws, regulations or orders in connection with them; the ability of the Company to implement its strategy and expand its banking operations; changes in interest rates and other general economic, business and political conditions, including changes in the financial markets; changes in business plans as circumstances warrant; risks related to mergers and acquisitions; changes in benchmark interest rates used to price loans and deposits, changes in tax laws, regulations and guidance; and other risks detailed from time to time in filings made by the Company with the SEC, including, but not limited to those “Risk Factors” described in our most recent Form 10-K and Form 10-Q. Readers should note that the forward-looking statements included herein are not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking statements.

Megan Brewster​
AVP, Public Relations and Content Manager
Office: (727) 258‑5614
Mobile: (617) 285‑0771
700 Central Ave
St Petersburg FL 33701

FAQ

Who is Wade Stringfield?

Wade Stringfield is the newly appointed vice president and SBA lending officer at BayFirst National Bank.

What position did Wade Stringfield previously hold?

Before joining BayFirst, Wade Stringfield was the SBA sales manager at SaviBank.

What significant achievement did CreditBench have in FY 2022?

CreditBench finished as the No. 8 SBA 7(a) lender in the country for the fiscal year 2022.

How much has CreditBench originated in SBA loans since 2016?

CreditBench has originated over $1 billion in SBA 7(a) loans since its inception in 2016.

What type of loans will Wade Stringfield focus on at BayFirst?

Wade Stringfield will focus on marketing and closing SBA 7(a) loans up to $5 million.