In January 2020, the business world lost a remarkable entrepreneur, philanthropist, and family man, Miles M. Stuchin. As a past Commercial Finance Association (Now Secured Finance Network) Executive Committee member, Miles left an indelible mark on the industry and inspired countless individuals with his entrepreneurial spirit. His legacy continues to shape the landscape of commercial finance, and his dedication to creating lasting relationships and fostering innovation serves as a guiding light for future generations.
Building Access Capital from the Ground Up
Miles, with his wife Marcie, embarked on a remarkable journey in 1986 when they wrote the business plan for Access Capital. Their vision was to establish a company where entrepreneurs could receive financing from fellow entrepreneurs, creating a supportive and understanding environment. The initial operations of Access Capital were humble, with the business operating out of an apartment in New York’s Upper West Side. Over the years, Access Capital grew into a leading independent commercial finance company specializing in serving the staffing industry. Clientele ranged from startups to well-established public companies, catering to their diverse financial needs.
The Entrepreneurial Spirit
Miles embodied the essence of an entrepreneur throughout his life. His journey began at age 13 when his father encouraged him to find ways to make money independently. Determined and driven, Miles formed a rock ‘n’ roll band, establishing his resourcefulness and passion for creating opportunities. This spirit continued as he pursued his education, earning a cum laude B.A. from Yale University and a J.D. from New York University School of Law.
After practicing law for nine years, Miles entered the world of venture capital, establishing a successful business that spawned several enterprises, including a $400 million healthcare company called Diagnostek Inc. and, of course, Access Capital. His ability to identify and nurture promising ventures underscored his innate entrepreneurial acumen.
Contributing to the Industry and Beyond
Miles’ impact extended far beyond his individual ventures. He actively supported industry organizations, serving on the Executive Committee of the Commercial Finance Association (now known as the Secured Finance Network). His commitment to entrepreneurship also led him to become a director of the New York Metro Chapter of the Young Presidents’ Organization, where he fostered a network of like-minded individuals striving for success.
Moreover, Miles shared his expertise as a guest lecturer on entrepreneurial finance at prestigious institutions such as the American Stock Exchange, Yale College, Columbia Business School, and NYU Business School. His insights and experiences inspired aspiring entrepreneurs and enriched the entrepreneurial ecosystem.
Philanthropy and Musical Passion
Miles’ influence transcended the business realm. He established the Access Capital Foundation with his wife, a not-for-profit organization dedicated to supporting various charitable causes, including those causes important to our clients. The foundation’s contributions have surpassed ten million dollars, benefiting organizations such as The Dana Farber Cancer Institute, Memorial Sloan Kettering, and Weill Cornell Medical Center. Miles believed in giving back and ensuring that healthcare, education, and social welfare initiatives received the necessary support.
Beyond his professional and philanthropic endeavors, Miles was also an avid musician. He showcased his guitar skills, performing at renowned venues like BB King’s Blues Club in Times Square and even playing in a concert on the set of Good Morning America. His love for music exemplified his vibrant spirit and zest for life.
Paying Tribute to an Everlasting Entrepreneurial Heritage
To honor Miles’ legacy as a consummate entrepreneur, philanthropist and family man, Access Capital carries forward his values, embracing innovation, fostering meaningful connections, and making a positive impact in the lives of entrepreneurs and communities alike. Just like Miles we are dedicated to building meaningful relationships, providing exceptional service and continually seeking ways to create a positive impact. Contact us today to start a conversation.