About Us

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Our Company

Finance Experts from Water Street Funding have a Clear View!

We take a more personal approach by getting to know you and your business. Specifically, we take a consultative approach to current and forecasted capital expenditure projects.
With an ever-changing economic environment, we are committed to quick and flexible solutions to your critical capital needs.
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Integrity. Experience.

At Water Street Funding, we consider ourselves reliable financing partners. We help solve your business capital needs with an entrepreneurial perspective and a competitive structure.
Our streamlined process includes quick turnaround decisions for your company, and simplified documentation. We work diligently as advocates on your behalf; the most competitively structured deal is our mutual interest.
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What We Do

Are you spending too much of your valuable time evaluating existing lending sources for your capital equipment needs? If you are, we would love to have a conversation.
Our clients are busy running a business. A lengthy process with a traditional lending source can be unproductive. Our clients will tell you that we’re quick to respond and easy to work with
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Meet Our Team

Craig Hallett

Principal & Co-Founder

Craig Hallett is Principal and Co-Founder of Water Street Funding LLC.   Water Street Funding was founded in 2009 to provide middle market customers with alternative equipment financing solutions.  Prior to founding Water Street Funding, Mr. Hallett spent 20 years offering secured financing solutions with companies such as Norwest, Cargill, Transamerica, and GMAC.  Mr. Hallett has extensive experience in commercial lending, asset-based lending, acquisition financing, and equipment leasing.  He graduated with his MBA from the Carlson School of Management in 1989 and has financed in excess of $600 million over his 30-year career.

Jon Dustrud

Principal & Co-Founder

Jon Dustrud is a Principal and Co-Founder of Water Street Funding which was formed in 2009 to service small to mid-market businesses seeking capital equipment financing.  Jon has over 25 years of experience in the capital equipment finance industry.  Jon’s prior experience includes business development roles with large national banks, beginning with GE Capital & National City (PNC). During that time, Jon’s experience was in direct origination and financing of capital equipment for small & middle market firms across a variety of industries. Mr. Dustrud graduated from the Virginia Tech School of Business. He resides in Minnetonka with his wife and twin daughters.

Christian Rekow

Vice President of Sales

Christian Rekow is Vice President of Sales at Water Street Funding, LLC. He is a graduate of the Opus School of Business at the University of St. Thomas (St. Paul, MN) with a BBA in Financial Management. He began his career with Bridgewater Bank, working across the credit and finance departments starting in 2014. Most recently, Christian was an AVP of commercial lending, managing an active $25 million C&I loan portfolio. While managing the existing loan portfolio, Christian was also responsible for new business development using network of existing internal lenders and trusted 3rd party referrals contacts.

Michelle Rock

VP of Operations

Michelle Rock has been with Water Street Funding for 7 years.  Her current role with Water Street is VP of Operations where her responsibilities include managing Water Street’s transaction closings, legal documentation, insurance, lien and asset management, tax filings and vendor payment systems.

Prior to Water Street she spent 20 years as a senior business analyst and project lead at CarVal Investor (Cargill) in Minneapolis. Michelle has extensive IT and operational experience with capital investor projects and transactional funding.

Michelle earned her BA at St. Cloud State University.  She resides with her family in Shorewood, MN