Verdant Commercial Capital has grown its Industrial vertical with three experienced additions. These new team members will deepen the company’s expertise while providing Verdant’s Industrial partners with equipment financing options.
The three newcomers to Verdant’s Industrial Team are Tom O’Hear, Andrew Baccaro and Ryan van de Boogaard.
Verdant Commercial Capital recently completed the funding of the last of a portfolio of solar projects which were launched by EDPR NA Distributed Generation (EDPR NA DG) in a series of sale-leaseback transactions for distributed generation solar projects in the United States.
The Monitor’s fifth annual women in equipment finance list highlights notable women within the industry. One of the Verdant Commercial Capital team was included on this prestigious list of 50 women.
Shelly Cain
Senior Vice President, Credit - CPA (retired)
Verdant Commercial Capital
“Women in our industry aspire to deeply impact their careers, lives and families. Those prospects can be overwhelming. My advice is to start small. Break down your goals into digestible pieces while accumulating experience, skills and knowledge. With time and growth, you’ll affect change in major ways.”
Verdant Commercial Capital has expanded its team with five newcomers who will augment the company’s agility, expertise and growth through innovative solutions for business-critical equipment needs.
Verdant has expanded its Industrial vertical with three additions to its Automotive Repair Equipment financing team:
Verdant Commercial Capital announced today that the company has surpassed $2 billion in equipment financing originations since the company’s inception in 2017. This milestone means the company has reached its second billion in half the time it took to reach its first billion.
Verdant Commercial Capital, LLC, the nation’s sixth largest independent equipment finance company, announces the closing of its initial 144a term securitization. “VERD 2023-1” issued notes totaling $251,253,000 that are backed by a diverse portfolio of high-quality equipment leases and loans collateralized by primarily material handling equipment, vocational trucks, and other industrial and manufacturing equipment with an average remaining individual contract balance of approximately $132,200.
According to the Equipment Leasing & Finance Foundation’s August Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI), overall, confidence in the equipment finance market is 50.4, an increase from the July index of 46.4.
“In the past three years, our industry was directly affected by three major issues: COVID, the unprecedented speed and size of Fed rate hikes, and the unexpected fallout from deposit stickiness in the banking industry. After each occurrence, the confidence index for our industry dropped and then after a few months started to recover,” Mike Rooney, CEO of Verdant Commercial Capital, said. “What this tells us is that we aren’t immune to these strong forces, but after they happen, our industry reacts and finds a way to deal with them. This past resilience and agility are what give me confidence in the near-term future of our industry. There remain macro forces out there that we cannot control which could potentially impact every industry. These include an escalation of the war in Ukraine, further aggressive rate moves by the Fed and the potential crisis involving loan refinancing for commercial office buildings. All of these are big unknowns, but if the past is a guidepost for the future, our industry will find a way to succeed.”
The Monitor 100 companies continued to chart steady growth despite a looming recession, ongoing inflation, a rising rate environment, climbing capital costs and mounting margin pressure. With a recession in the forecast and a cooling job market, the group continues to contend with supply chain challenges while striving to become more efficient and effective companies.
This year’s Monitor 100 companies reported net assets of $555.9 billion, new business volume of $216.6 billion and 26,609 employees.
Each year, the Monitor highlights 40 up and coming leaders under the age of 40 in their Monitor NextGen issue. One of this year's equipment finance rising stars is one of the Verdant Commercial Capital team.
Bennett Kowalk
Vice President, Corporate Controller
Verdant Commercial Capital
“I am forever grateful that Verdant allowed me the freedom to make such an impact to the organization.”
Verdant Commercial Capital announces the retirement of John Evans, Vice President, Business Development Manager, effective June 30, 2023. A financial services veteran, he has spent more than 40 years working in the equipment financing industry.
Equipment leasing was a newer field for banks when Evans started working in banking. “Equipment leasing gave me an alternative to the traditional side of banking,” reminisced Evans. “Initially, I was attracted to structuring tax leases. Then as my career focused on vendor finance, I enjoyed building relationships and financing programs with equipment OEMs and dealers.”