SOURCE: Doral Financial Corporation

January 13, 2011 16:00 ET

Doral Financial Corporation Announces the Launch of Doral Healthcare Finance

SAN JUAN, PR--(Marketwire - January 13, 2011) -  Doral Financial Corporation (NYSE: DRL) ("Doral" or the "Company"), the holding company of Doral Bank, a leading community bank based in Puerto Rico, announces the launch of Doral Healthcare Finance.

Doral Healthcare Finance (DHF) will provide asset-based, working capital lines of credit to providers of goods and services in the healthcare industry nationwide, including hospitals, home healthcare agencies and long-term care facilities with financing needs from one million to $20 million. 

"Doral Healthcare Finance provides us with a growing opportunity to continue to serve and meet the needs in the communities in the US mainland and a new platform to expand services in all of our markets," said Christopher Poulton, Executive Vice President, US Operations of Doral Financial Corporation.

To lead the new business, based in Portland, Oregon, Doral has tapped Jennifer Sheasgreen, a veteran healthcare lender, along with Jonathan Kott and Edward Kauffman, both with extensive experience in the industry.

As Managing Director, Sheasgreen will be responsible for the start-up, development and management of DHF's nationwide healthcare finance division. She brings more than 15 years of experience in healthcare lending and has served in executive positions with GMAC and as a member of Senior Management at Marquette Healthcare Finance.

"I am pleased to be joining such an entrepreneurial organization," Sheasgreen said. "The exit of many healthcare lenders has left the niche underserved and has created a tremendous growth opportunity."

Kauffman was named Vice President and National Sales Manager and Kott, Chief Operating Officer. Kauffman will lead the origination of new business while Kott will be responsible for credit, portfolio and account management.

For more information on DHF services please visit www.doralhealthcarefinance.com or contact (855) 277-7895.

Contact Information

  • Doral Financial Corporation
    (855) 277-7895