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Initially in 1997, American Medical Capital (AMC) operated under American Medical Enterprises with Archie Eggleton as its Chief Operating Officer in 2016. In 2017 the office was relocated to Michigan under, American Medical Capital LLC, where Archie Eggleton is still Chief Operating Officer and Managing Member.
While employed at Fifth Third Bank in March of 2008, at the beginning of the financial crisis, Mr. Eggleton was assigned by senior management of Fifth Third Bank to be its representative when American Medical Capital offered to purchase Fifth Third Banks’ entire REO portfolio which consisted of single-family dwellings and multifamily dwellings of four units or less. At Fifth Third Bank, Mr. Eggleton was the point person on the negotiations for the REO portfolio manager, Mr. Ed Laurel at Fifth Third Bank in Cincinnati. Fifth Third and AMC were not able to agree on a portfolio purchase price, but Fifth Third subsequently lowered the average price of the entire REO portfolio by an average of over 15% - 20%.
Again in 2008, the day after Fifth Third Bank reported its first-quarter earnings, American Medical Capital contacted Mr. Eggleton to offer Fifth Third Bank a 10-figure loan at floating 30-day LIBOR, collateralized by a Direct-Pay Letter of Credit, which is recorded only as a contingent liability when issued by the bank. The controller at Fifth Third Bank Western Michigan and Fifth Third Treasury in Cincinnati assigned Mr. Eggleton, an officer of the bank, to be the point person again on negotiations between Fifth Third and American Medical Capital. The outcome of the negotiations is confidential but subsequently AMC offered Mr. Eggleton to come and work for them in July of 2008 where he initially turned down the offer, however, in August 2008 Mr. Eggleton accepted.
At that time, American Medical Capital did not have a website. One of the first assignments Mr. Eggleton undertook was to build the website as a precursor to him travelling around not only the United States, but extensively to Europe and Asia meeting with governments and banks who needed to borrow low interest funds for working capital and/or cash flow during the great recession and Mr. Eggleton utilizedhis knowledge of the process while working at Fifth Third Bank. Since that time, American Med & Commercial Capital has been conducting business internationally and in the 4th quarter of 2017 alone arranged over 160 million USD in international financing and in 2021 is on pace to structure over $450,000,000 USD in debt and or equity financing.