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Bank of America

Bank of America, Charlotte, N.C., has announced it will expand its asset-based lending capabilities to serve smaller middle-market businesses as a result of its acquisition of a former LaSalle Bank business unit, LaSalle Business Credit. Bank of America Business Capital will form a new national division to serve this market, focusing on asset-based financing from $5 million to $25 million. As a result of this expansion, the company will now provide asset-based loans from $5 million to $2 billion. Bank of America acquired LaSalle Bank on Oct. 1, 2007.

Joyce White, president of Bank of America Business Capital, has appointed Bruce Denby to head the new group, to be called the business finance ...

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