"Credit Management Solutions"

Partner Profiles

Jim Warman and Jim Lowe, founders and senior partners of WLAI, have been keeping an eye on other businesses’ cash—legally, of course—since the early ‘90s. Recently, Joe Baltzell, joined as a partner, bringing with him significant international expertise. WLAI, located in Middletown, OH, works with accounts receivable and credit management in several market niches. One is small organizations that can’t afford a full time credit manager—start ups and other small businesses. Another niche is larger companies that may be downsizing or wish to supplement current staff. WLAI has assisted clients from small to large and as varied as a large steel manufacturer, a paper products concern, and a small print shop.

Warman, Lowe & Baltzell


James R. Warman, Senior Partner

Jim Warman started his working career at Armco Inc, Middletown, Ohio in 1977. Armco was a diversified company that included manufacturing steel, insurance, and finance leasing operations. He progressed through various professional positions in the Treasury and Accounting areas that encompassed reconciliations, cash management, collections and financings.

During the mid 1980’s he progressed through several management positions and was instrumental in forming a division that handled runoff operations. As Vice President of Treasury Operations for that division, he was responsible for liquidating receivables and other assets originating from operations that were divested.

It was from this position that he formed Warman-Lowe & Associates, Inc. to handle the Armco receivables and provide various receivable management duties to other companies as well.

Jim earned his BSBA Degree-Miami University, Oxford, Ohio. In addition, he is also a Certified Cash Manager.

James D. Lowe, Senior Partner

Jim Lowe joined AK Steel Company, Middletown, Ohio (formerly known as Armco Inc.) in 1970. AK is a producer of high quality, high-value carbon flat rolled steel, serving the automotive, appliance, construction and distribution markets.

He progressed through various Managerial positions within the Treasury area including Investor Relations, Insurance, International Operations and Credit. After being promoted to Manager of Credit, Jim was responsible for all facets of Corporate Credit including Pricing and Claims. He engineered various credit programs to improve the Days Sales Outstanding (DSO) dramatically.

Additionally, Jim was responsible for instituting a credit scoring software system that proved extremely beneficial when reviewing potential customers. His continued involvement in unauthorized deductions including unearned cash discounts drastically improved cash flow.

Jim left AK in 1995 and formed Warman-Lowe & Associates, Inc. He earned a BSBA Degree from Miami University, Oxford, Ohio and a MBA Finance from Xavier University, Cincinnati, Ohio. Jim was on the Board of Directors for NACM-Ohio.

Joseph E. Baltzell, Partner

After fours years in the U.S. Navy, Joe Baltzell started his working career in 1973 also with Armco, Inc. Joe initially was in steel manufacturing and later progressed to the reinsurance group with supervisory assignments in treasury and accounting. In 1981, Joe transferred to the international division becoming involved in credit and trade financing. While maintaining these international responsibilities, Joe was promoted to Manager Credit of the specialty steel division. Later, he advanced to Corporate Credit Manager, and subsequently Vice President of the corporate receivable company.

Joe has in excess of twenty years experience in international credit management and trade finance. He had financial management responsibilities for exporting to more than fifty countries. Joe maintains significant expertise in country risk evaluation, international customer risk analysis, and letter of credit management. He served on the Board of Directors and Advisory Board for FCIB (an association of executives in Finance, Credit & International Business), contributing as a speaker at numerous professional conferences.

Joe retired from AK Steel (successor to Armco) in 2004 and joined WLAI. Similar to Jim Lowe, he earned a BSBA degree from Miami University, and an MBA in Finance from Xavier University. Joe also served extensively on the Board of Directors for the Pennsylvania Association of Credit Management (PACM), advancing to 1st Vice Chairman and promoting numerous programs for PACM membership.

Get to know our partners even better, contact us and let us get to know you!  

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Warman-Lowe & Associates, Inc.
1010 N. University Blvd.  ::  Middletown, OH 45042
513.424.1001 Tel.  ::  513.424.1420 Fax

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