Advocacy Through Education: How the Brownstein Corporation Strengthens The ABL Industry

If you’re a professional in the asset-based lending community, chances are you’ve learned a thing or two about the business from Howard Brownstein, president of The Brownstein Corporation. With Brownstein leading the way for the turnaround and crisis management firm, The Brownstein Corporation is a leader in providing educational resources, both to its clients and partners as well as industry professionals at its peer companies.

The Brownstein Corporation’s primary efforts are directed toward advising borrowers, lenders and lender groups, in addition to providing mergers and acquisition, refinancing, fiduciary and expert testimony services. Within those varied pursuits, education about and advocacy for the ABL space both play a key role. For example, since the company regularly helps borrowers in distress move from regulated bank relationships to non-regulated ABL lenders and factors, it is imperative for the company to explain the benefits and mechanics of such a process.

“We have to effectively educate our clients about their new lender’s different requirements and approach,” Brownstein says. Beyond educating clients, through Brownstein himself, The Brownstein Corporation takes a vested interest in maintaining the strength of the ABL industry by conceptualizing and leading myriad educational programs for the Secured Finance Network and other industry associations. Covering a wide swath of topics, including syndicated ABL, healthcare finance, lending on intellectual property, leveraged ESOP lending, credit insurance and retail lending, among others, Brownstein enlists the help of lenders, law firms and advisors to help instruct many of these courses for the betterment of all stakeholders.

“The development and quality of the ABL industry is important to our clients and our firm,” Brownstein says. “The more informed and educated our ABL lenders are, the better it is for our clients and ourselves. We can understand each other better, anticipate each other’s needs and avoid unnecessary disagreements and delays. Being an advocate for the ABL industry is mutually beneficial.” Brownstein and his company’s impact on the ABL industry extends beyond the proverbial classroom. Brownstein himself is an active member of SFNet as well as the Turnaround Management Association (TMA) and the American Bankruptcy Institute (ABI). With the SFNet, he has served for many years on its education committee, in addition to previously serving on the SFNet Education Foundation Board. For the TMA, he has served multiple terms on the organization’s board, earned its Outstanding Individual Contribution award. He helped TMA expand its reach with new chapters in Japan and Europe. Brownstein has also served on the board of the ABI and founded its annual Mid-Atlantic Bankruptcy Workshop.

In addition to his board work and educational efforts, Brownstein is also a prolific author, having published more than 130 articles and textbook chapters, including penning articles regularly for ABF Journal as well as The Secured Lender.

Angela Phillips, a managing director at The Brownstein Corporation, is also a respected turnaround and banking veteran with certifications as a turnaround professional and anti-money laundering specialist. She is a former board member of the Philadelphia chapter of the TMA and International Women’s Insolvency and Restructuring Confederation of Delaware, helping to further strengthen the organization’s overall advocacy efforts.

As the U.S. economy continues to face turbulence driven by interest rate hikes, inflation and more, ensuring the vitality of the ABL community is essential to The Brownstein Corporation, making its advocacy work all the more important.

“I believe that a downturn may still be in our future, and so we have been working with industry organizations to help ABL lenders be ready for whatever comes,” Brownstein says. •