MB Financial announced the formation of a new Canadian subsidiary, MB Business Capital Canada Inc. and the hiring of Dan Flaro, Senior Vice President & Country Executive to lead its efforts in expanding the bank's middle market asset based lending (ABL) platform into Canada.

A seasoned industry professional, Flaro brings extensive experience in business development, underwriting and portfolio management to MB Business Capital Canada. Prior to joining the new subsidiary, Flaro served as Vice President & Group Head of Scotiabank’s ABL platform, and he held positions at TD Asset Finance and LaSalle Business Credit/ABN AMRO. His ABL expertise is complemented by a broad range of mid market lending experience derived from roles with institutional lenders providing traditional commercial revolving facilities, equipment lease, and industrial real estate and subordinated debt financing. Flaro is also actively involved in Canada’s broader finance community, having served as a member of the Commercial Finance Association leadership board as well as a Chartered Financial Analyst (CFA). Flaro is a graduate of the Queen's University in Kingston, Ontario Bachelor of Commerce (Honours) program.

"Our senior management team has prior experience lending in Canada and we're all very excited to be back in the Canadian market,” says Michael Sharkey, President of MB Business Capital. “We’ve built an exceptional ABL platform at MB Financial Bank with proven success in securing market share in the U.S. Dan's background is best suited to communicate our value proposition in Canada; we're thrilled to have him lead our efforts in this new market.”