Business Loan Express entered the securitization market in 1997 with a single issuance backed by portions of Small Business Association loans worth just under $20 million. In 2003, the issuer reached nearly $500 million in term ABS volume.
We expect volume to continue to grow," said director of capital markets Ted Horan. "We should beat last year's number in 2004."
That said, the company plans to tap the market just twice versus the three deals issued last year.
Horan joined BLX in 2001, and has been more or less the sole engine powering the 230-employee company's securitization efforts since then.
"We are a small company," he said. …
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