Santa Cruz County Bank Announces Launch of New Asset-Based Lending Division Led by Lee Shodiss and Shelly Medina
On May 23, 2022, Santa Cruz County Bank (OTCQX: SCZC) launched its new Asset-Based Lending Division, directed by industry veterans Lee Shodiss and Shelly Medina. This division will focus on serving business clients and emerging growth companies in need of liquidity and flexible credit options. The division aims to bolster the bank's growth and support small businesses, particularly in the technology sector of Silicon Valley. President and CEO Krista Snelling highlighted the opportunity for capital support stemming from the pandemic's impact on working capital needs.
- Launch of Asset-Based Lending Division aimed at business clients.
- Leadership by experienced professionals with extensive industry knowledge.
- Focus on supporting small businesses and technology firms in Silicon Valley.
- None.
SANTA CRUZ, Calif., May 23, 2022 /PRNewswire/ -- Santa Cruz County Bank (OTCQX: SCZC), today announced the launch of its Asset-Based Lending Division led by Lee Shodiss and Shelly Medina. The Bank's new Asset-Based Lending Division will specialize in serving business clients and emerging growth companies requiring asset liquidity and flexible lines of credit in addition to full banking services. The addition of an Asset-Based Lending Division showcases the Bank's commitment to supporting small business. The Division is based at the Bank's Cupertino office at 19240 Stevens Creek Boulevard, to serve clients in Silicon Valley, the Greater Bay Area and throughout California.
The Bank's Asset-Based Lending Division is directed by Lee Shodiss, an industry veteran with 30 years of experience in asset-based and innovation markets serving Silicon Valley and technology centers throughout the country. Shelly Medina leads the Asset-Based Lending Division as Operations Manager.
Krista Snelling, President and CEO commented, "We experienced firsthand the pandemic's profound impact on working capital needs of many businesses. Our new Asset-Based Lending Division complements the Bank's significant growth and ability to provide capital to businesses through specialty financing solutions. We see great opportunity, particularly in serving the high concentration of businesses centered in technology and innovation in Silicon Valley. The hiring of Lee and Shelly, both well-known experts in ABL, expands our team at the Bank's Cupertino branch and positions us advantageously to serve the market, grow our portfolio, and support our existing client relationships."
Director of Asset Based Lending Division, Lee Shodiss
Mr. Shodiss joined the Bank as Senior Vice President and Director of Asset-Based Lending (ABL) in April 2022. Mr. Shodiss' 30-year career in the financial services industry includes expertise in technology focused asset-based factoring, structured finance and commercial banking, including support for emerging growth companies to secure debt, provide restructuring and collateral exams to lenders. His entrepreneurial acumen in the business industry is evidenced by his establishment and expansion of three asset-based and technology lending units totaling over 2 billion in footings.
Mr. Shodiss founded and managed the Technology and Bridge Capital Finance Divisions at Bridge Bank. He held the position of Founder, Executive Vice President, Regional Director/Product Line Director and was responsible for all aspects of operations of the Divisions including sales, personnel, budgeting and credit. Mr. Shodiss held multiple roles at Silicon Valley Bank from 1994-2002, with increased responsibility from Assistant Vice President to Senior Vice President, Co-Group Manager for the Bank's Specialty Finance Division. Early in his career as Budget Analyst, Cost Controller at Lockheed Missiles & Space, Inc, Mr. Shodiss monitored and administered contract costs associated with defense contracts ranging in size from
SVP Operations Manager, Shelly Medina
Shelly Medina joined the Bank as Senior Vice President and ABL Operations Manager in May 2022.
Ms. Medina has a 34-year history in banking with extensive experience in asset-based lending, factoring, and loan operations with major regional and national financial institutions. She is well-respected as a team leader and specialist in the area of loan documentation and commercial loan operations. Ms. Medina was the founding Operations Manager of the Bridge Capital Finance Group at Bridge Bank and more recently held the title of Divisional Loan Production Manager and Senior Vice President for Western Alliance Bank, where she implemented factoring and ABL platforms, wrote loan operations policies, and managed a loan documentation and operations unit as well as a factoring operations unit. Earlier in her career, she worked at Silicon Valley Bank where she served as Team Leader for Specialty Finance Loan Documentation and Operations Specialist.
ABOUT SANTA CRUZ COUNTY BANK
Santa Cruz County Bank was founded in 2004. It is a top-rated, locally-owned and operated, full-service community bank headquartered in Santa Cruz, California. The bank has branches in Aptos, Capitola, Cupertino, Monterey, Santa Cruz, Scotts Valley and Watsonville. Santa Cruz County Bank is distinguished from "big banks" by its relationship-based service, problem-solving focus and direct access to decision makers. The bank is a leading SBA lender in Santa Cruz County and Silicon Valley and a top USDA lender in the state of California. As a full-service bank, Santa Cruz County Bank offers competitive deposit and lending solutions for businesses and individuals; including business loans, lines of credit, commercial real estate financing, construction lending, agricultural loans, SBA and USDA government guaranteed loans, asset-based lending, credit cards, merchant services, remote deposit capture, mobile and online banking, bill payment and treasury management. True to its community roots, Santa Cruz County Bank has supported regional well-being by actively participating in and donating to local not-for-profit organizations.
Santa Cruz County Bank stock is publicly traded on the OTCQX U.S. Premier marketplace under the symbol SCZC. Stock purchase orders may be placed online, through a brokerage firm, or through Market Makers listed in the Investor Relations section of the bank's website. For more information about Santa Cruz County Bank, visit www.sccountybank.com.
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SOURCE Santa Cruz County Bank
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