Today’s Commercial Finance Market: My Father and Grandfather Would Not Recognize It!

I have the unique privilege of being a third-generation banker. My grandfather started and ran a small savings and loan (“S&L”) in the western suburbs of Chicago. My father followed him into the S&L business and there were days when I would join him at work, handing out toasters and other gifts to those that opened new accounts. Occasionally, we’d go to homes with a rolling measuring tape to measure and appraise the land and house that the S&L provided a mortgage against. Companies in those days also got most of their financing from banks.

I have worked with many financial institutions during my career (at three leading banks) and have learned much over my decades helping companies refine strategy, raise capital, and think about how best to navigate their opportunities and challenges. One dominant theme that I have observed, and that has accelerated over the past decade and in particular over the past 24 months, has been in the “democratization of finance,” or DEFI. Click to read more at