HSB Purchases Assets, Hires Employees from Diversified Funding Services

Heritage Southeast Bank purchased certain assets and hired three employees of Diversified Funding Services. Diversified had provided backroom services for HSB Funding’s factoring services operations since 2017. HSB Funding will now perform these services in-house.

HSB Funding hired Eric Benson as president to lead the internal factoring division. He joined Hussein Marquez, portfolio manager; Daniel Thomas, business development officer; and Terri Ross and Jennifer Pettus, account representatives, in the company. HSB Funding provides small- and medium-sized businesses with flexible options for using their accounts receivables to accelerate cash flow and grow.

“We are excited to bring these services and employees into our organization to help us serve businesses who need factoring financing,” Leonard Moreland, CEO of HSBI, the holding company of Heritage Southeast Bank, said. “HSB Funding offers a flexible and fast way to fund receivables. Its staff has more than 50 years of combined experience in the industry and are dedicated to ensuring clients reach their financial goals. They are proud to maintain the highest level of responsiveness, professionalism, integrity and customer care in the industry.”

HSB Funding is part of Heritage Southeast Bank, which has more than $1 billion in managed assets.