Atlantic Union Bank is expanding its asset-based lending team to help working capital intensive companies meet their financing needs.

The team will now operate as a new specialty finance division, branded Atlantic Union Business Credit, and offer a full range of asset-based lending solutions specializing in loan commitments from $5 million to $30 million.

“Expanding our asset-based lending capabilities has been a goal for our wholesale banking business for some time, but we wanted to find the right team,” said David Ring, Head of Wholesale Banking for Atlantic Union Bank. “Having led asset-based lending teams in the past, I know that our clients will appreciate the enhanced specialty products and capabilities that Atlantic Union Business Credit is now able to offer them.”

Thomas (Tom) Ennis will continue to lead Atlantic Union’s asset-based lending efforts. New to the AUB team are Robert (Bob) Beer, senior vice president, director business development; James (Jim) Cannella, s...