Raj Badri Joins CreditBench as Vice President, SBA Lending Officer

Rhea-AI Summary

BayFirst National Bank has appointed Raj Badri as vice president and SBA lending officer within its CreditBench division. Badri brings over 20 years of experience, including his prior roles at Acclivity Financial and Centrust Bank. His focus will be on promoting SBA and USDA loans nationwide. CreditBench, a leading SBA 7(a) lender, has originated over $1 billion in loans since 2016. The bank anticipates that Badri's expertise will enhance its capabilities to support small businesses and achieve its production goals for 2023 and beyond. BayFirst Financial Corp. has $939 million in total assets as of December 31, 2022.

Positive

• Appointment of Raj Badri enhances expertise in SBA lending.
• CreditBench is the No. 8 SBA 7(a) lender in the nation for fiscal year 2022.
• CreditBench has originated over $1 billion in SBA 7(a) loans since 2016.

Negative

• None.

ST. PETERSBURG, Fla., Feb. 22, 2023 (GLOBE NEWSWIRE) -- St. Petersburg, Florida-based BayFirst National Bank has named Raj Badri vice president, SBA lending officer. He assumes the role within the bank’s SBA loan division, CreditBench, the No. 8 SBA 7(a) lender in the nation for the SBA’s 2022 fiscal year.

Based in Illinois, Badri’s experience spans more than 20 years. He previously served as senior vice president, SBA lending at Acclivity Financial where he focused on real estate deals and closed $20 million in SBA 7(a) and $10 million in USDA Business and Industry loans. Prior to that, he served as senior vice president, SBA lending at Centrust Bank and vice president and director of SBA lending at State bank of Countryside.

Within the CreditBench Division, Badri will be responsible for developing, soliciting and promoting new SBA loans through outside and inside referral partners, focusing on Small Business Administration and USDA loans for businesses across the country.

“Raj has extensive experience overseeing all facets of small business loans, which will prove vital as he moves into his nationwide role at CreditBench,” said Chris Hackney, senior vice president and director of SBA loan originations. “I am confident that with Raj’s contributions, the bank will be even better positioned to assist small businesses and deliver on our ambitious production goals for 2023 and beyond.”

Badri holds a Bachelor of Science degree from the University of Illinois.

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 Raj Badri in relation to BayFirst National Bank?

Raj Badri is the newly appointed vice president and SBA lending officer at BayFirst National Bank.

What achievements does CreditBench have?

CreditBench is recognized as the No. 8 SBA 7(a) lender in the nation for fiscal year 2022 and has originated over $1 billion in SBA 7(a) loans since 2016.

What is BayFirst Financial Corp.'s total assets as of December 31, 2022?

As of December 31, 2022, BayFirst Financial Corp. reported total assets of $939 million.