Despite a litany of macroeconomic challenges, in another banner year, Monitor’s Top 30 Private Independents built on a record-setting 2021 to produce a 30.8% increase in new business volume in 2022.
The Cincinnati USA Regional Chamber has selected 50 leaders to be part of Class 10 of Cincy Next, a leadership development program produced by the chamber’s Leadership Center.
Cincy Next is designed for emerging leaders in their early 20s to early 30s with less than eight years of professional experience. The program helps them connect with other young talent from across the region and develop both professionally and personally. It covers a variety of professional development topics including personal branding, conflict management and goal setting.
“Cincy Next is all about identifying, connecting, and equipping the region’s future leaders,” Andrea Mersmann, leadership programs manager of Leadership Center at the Cincinnati Chamber, said in a news release. “The program participants will attain tools that will help them grow personally and professionally beyond Cincy Next, while also building relationships and connections to the communities in which they work and live.”
Here are the members of this year's class:
Jeffrey Bogenschutz, senior analyst, Verdant Commercial Capital LLC
Verdant Commercial Capital, LLC, the sixth largest independent equipment finance company in the United States, announced that its 2022 originations were $551MM, an increase of 42% over 2021. Verdant originates leases and loans via relationships with top-tier vendors, OEMs, and dealers of business-essential capital equipment and software.
“Our unique ability to support originations from below $25,000 to more than $50 million across a wide spectrum of credit profiles has made Verdant the go-to source for vendors seeking easy financing solutions for their customers,” said Mike Rooney, CEO of Verdant Commercial Capital. “In addition, Verdant’s vendor business approach continues to prove that strong relationships with high-quality partners produce results that are predictable, sustainable and scalable.”
The Cincinnati USA Regional Chamber has selected its latest class of young leaders.
A group of 57 local employees is part of the 18th C-Change class. C-Change is a 10-month leadership development program produced by the Leadership Center at the chamber and designed for advancing careers in Greater Cincinnati.
“C-Change is an incredible opportunity for leaders in our community to connect with different organizations, learn civic skills, and enhance their own leadership tools,” said Andrea Mersmann, leadership programs manager at the Leadership Center at the Cincinnati Regional Chamber. “These leaders will shape our region’s future, and C-Change offers a platform to cultivate and refine their impact today.”
Here are the members of this year's class:
Bennett Kowalk – vice president, corporate controller, Verdant Commercial Capital LLC
Verdant Commercial Capital, LLC announces that it has again grown its funding capacity.
Verdant’s primary warehouse line of credit, led by Wells Fargo Bank, was increased to $225 million with the addition of Regions Bank as a participant in the lending group. At the same time, the line was extended for two years. Wells Fargo acts as the Administrative Agent for this facility.
Verdant Commercial Capital, LLC, one of the nation’s largest independent equipment finance companies, announces the closing of its inaugural term securitization, Verdant Receivables 2022-1. Verdant provides sales financing by partnering with sellers of capital equipment and computer software.
The transaction was privately issued to a major insurance company. The bonds are backed by a diverse portfolio of equipment lease and loans collateralized by primarily material handling equipment, vocational trucks, and other industrial and manufacturing equipment with an average original ticket size of approximately $130,000.
The Monitor’s fourth annual Women in Equipment Finance list highlights notable women within the industry. Verdant’s Jennifer Wirth was one of the 50 women who were recognized.
Jennifer Wirth
Vice President of Operations
Verdant Commercial Capital
“I’m excited for the growth of women in the industry. The number of women who have joined the industry over the past two decades has been a welcomed addition. My simple advice: The next opportunity is waiting and out there for you; don’t be afraid to take the risk and welcome the reward.”
Verdant Commercial Capital, LLC has completed the first ever on-bill repayment agreement for the State of California’s GoGreen Business Energy Financing program. GoGreen Business is committed to sustainability, and it supports small businesses that upgrade their operations in a more energy-efficient manner.
The ELFA Convention had to quickly change its venue due to a climate catastrophe on the western coast of Florida—Hurricane Ian. Ironically, while Ian was forming, a panel of speakers was preparing to present on climate finance and usher in a new ELFA interest group.
Climate finance is a rapidly developing market – a “massive opportunity for the industry,” according to the convention speakers in Orlando, FL. On Oct. 11, they presented compelling facts and figures for consideration. Despite it being the last day and last session of the annual event, most seats were taken.
Joshua Patton, Vice President of Verdant Commercial Capital, addressed opportunities and structures in energy-efficient equipment finance. He said credit enhancements are available as well as commercial rebates and government grants. The focus, he said, is on equipment that saves energy and lowers a customer’s costs, such as LED lighting, HVAC, renewables and EV charging equipment.
Verdant Commercial Capital, LLC, one of the top 10 independent equipment finance companies, just celebrated its fifth anniversary. The company was founded in 2017 by equipment finance veterans Mike Rooney, Chris Kelley and John Merritt. This team brought their expertise and discipline from a combined 100+ years of experience working at both banks and independents to the vendor finance segment. Verdant provides financing to six strategic markets and funds business transactions ranging from $25,000 to over $50 million.