Stacy Odendahl

Vice President, Business Development, Crestmark Bank

40 Under 40 Category:

Biography:

Stacy Odendahl is the vice president of business development for Crestmark Bank responsible for generating new asset-based lending, factoring and equipment financing opportunities.  Stacy joined Crestmark in August of 2015 and covers the Southeast territory from Atlanta, GA.

Prior to joining Crestmark, Stacy held several sales roles over seven years at Bibby Financial Services and was consistently recognized as a top performer.

Since 2011, Stacy has been very active with the SFNET Atlanta Chapter and currently serves as president of the Chapter’s Board of Directors.

Stacy has a Bachelor of Arts degree in economics from Stockton University.

Outside of the office, Stacy enjoys golfing, and relaxing on the beaches of South Carolina and Florida.  Stacy and her husband, Carl, reside in Dunwoody, GA, where they are active members of St. Jude’s Church.

How did you wind up in the industry? We know most kids don’t say, “I want to be in commercial finance when I grow up.”

Due to the economic downturn, I found myself looking for a new career in early 2009. At a New Year’s Day party in Florida, I met a few Bibby Financial employees and what they did sounded interesting. I interviewed for an associate position on the 5th, and started as an employee on the 12th.  I began in an analyst role and was pleased to be utilizing my degree in economics. However, within six months, it was clear I was well suited for sales. I really enjoy speaking with clients and finding solutions for companies in need of working capital to grow their business. 

What is the best professional advice you have been given and how have you implemented it?

Jim Farrell, East division sales manager at Crestmark, reminds me to have more patience.  I am very energetic and like to move at a fast pace, but the transactions we come across in the commercial finance industry require close analysis and often require time to get to completion. 

How do you think the commercial finance industry can attract more young professionals?

There are noticeably not enough young professionals in the industry, and we need that to change. Firms should hire more young professionals and, when possible, hire a group of them at around the same time frame.  My first job out of college was at an investment firm in Philadelphia where I was part of a group that were all about the same age. It was great to learn with friends, as well as commiserate together after a long day. 

Young professionals enjoy working with colleagues at a similar stage of their career, and look for an office environment with positive energy, and ideally with coordinated activities outside the office to build a sense of community and camaraderie. 

In order to attract young professionals, the banking and commercial finance industry may be required to evolve from its conservative roots to adapt to a younger workforce. Many employers outside our industry are recruiting strong college graduates with flexible work schedules and comprehensive benefits packages.

One of the reasons I chose to work at Crestmark was the culture.  When I went to meet with folks in the Troy, MI headquarters, everyone said the bank was a great place to work with a dynamic environment. Regardless of age, having a comfortable place to work is crucial. 

Something Crestmark does to ensure inclusion of a younger workforce is their great summer internship program; it allows students to become familiar with the industry, and hope they return to work with Crestmark upon graduation.

We can all try to encourage young professionals in commercial finance to stay in commercial finance by engaging them at SFNET local and national  events.  It is easy to chat with old friends, but we should make an effort to bring new members into the conversation.