Grow Michigan, an organization dedicated to providing subordinate funding to small- and middle-market businesses in Michigan based in Bloomfield Hills, announced Peggy Cummins has joined the team as chief credit officer, and Jeff Schuman has joined as director of business development.
Cummins has more than 39 years of experience in commercial banking, with emphasis in asset-based lending and workout. In July 2015, Peggy joined WNB Specialty Finance, a division of Woodforest National Bank as senior managing director and senior credit officer, and, in 2019, formed Four C’s Advisors, LLC to provide financial advisory services to banks and distressed companies.
Schuman has 14 years of commercial middle market lending and 24 years of commercial real estate lending at Bank of America, Comerica Bank, and Huntington Bank and their respective predecessors.
His responsibilities included new business development, credit underwriting, loan documentation, construction and non-construction loan portfolio administration, problem loan workouts and cross selling non-credit bank services.
“The breadth and depth of industry experience Peggy and Jeff bring to our fund is exceptional,” says Pat O’Keefe, CEO of Grow Michigan. “As we continue our important work across the state, their relationships and acumen will greatly augment all that we bring to the table for business sustainability.”