GFC Capital Resources Group, New York, has formed an international division devoted to residential and commercial lending.
The division will be directed by Hsueh-Jen Chang, vice president. He had been a senior vice president in charge of loan marketing at Golden City Commercial Bank. Earlier, he was with Asia Bank and Golden Pacific National Bank, both in the Flushing section of New York City.
The division will focus on the Asian community of New York City. It will specialize in singlefamily residential lending as well as financing multifamily rental properties. Commercial financing will also be offered.
"With Mr. Cheng's expertise and GFC's resources, we think we can fill an important niche in the highly diversified New York marketplace," said Allen Gross, president.
GFC, formerly Gelt Funding, specializes in urban and ethnic lending. It has offices throughout New York City, and in New Jersey, Connecticut, and Florida.