Verdant Commercial Capital, LLC executed a multi-year Vendor Program Agreement with Fecon, Inc. The agreement provides retail financing for Fecon equipment in the U.S. throughout their dealer network and direct relationships.
Verdant was included in this list in the May/June 2020 edition of the Monitor Magazine.
Top Dollar Gainers
Joining the ranking at No. 20, Verdant Commercial Capital delivered a solid year-over-year gain of $172.1 million.
Highest Percentage Increases
Four more companies joined the fold on the power of notable year-over-year gains: No. 20-ranked Verdant Commercial Capital with a 194.2% gain.
Verdant Commercial Capital, led by Mike Rooney, No. 20 with $260.7 million.
Monitor’s Top Private Independents continued their upward climb in 2019, surpassing the $8 billion threshold and achieving a 16.4% year-over-year increase. The group forecast a 21.9% gain for 2020, but with the impact of the coronavirus and oil market volatility, only time will tell if the group will maintain its trajectory in the year ahead.
The Top 25 Private Independents achieved another year of steady growth, reporting a new record for the group of $8,059.2 million in new business volume for 2019, marking a 16.4% year-over-year increase. Of the group, 21 achieved a net volume gain of $1,287.9 billion, three reported a net decline of $150.3 million and one reported no change.
Leaders from six independent equipment finance companies joined Monitor for a roundtable discussion on one question: What does it mean to be an independent? They discuss the innovative nature of these entrepreneurs, their ability to specialize and their freedom when it comes to structuring deals and accessing capital.
When I met with the guest editors of this issue, we decided to do something different for our independent’s roundtable this year. We asked several leaders from top private independent companies one question: What does it mean to be an independent?
Mike Rooney, CEO of Verdant Commercial Capital, says trying to categorize all independents into one bucket is a mistake. “What’s interesting about independents is just how unique our businesses are,” he says. “Some independents focus on large-ticket transactions starting at $5 million dollars and go up from there. Others focus on micro-ticket financing, averaging less than $50,000 per transaction. Another niche for independents is marketing directly to high credit quality end-users, and some will even further segment that focus into FMV structures alone.”
EneRate Credit Cover™ can now be used to insure PPA payment default risk on a sale leaseback tax equity investment, enabling more tax investment into unrated investment grade quality solar projects.
BOSTON, MA – March 27, 2020 – Energetic Insurance announced that EneRate Credit Cover™ has been applied to a transaction that utilized a sale leaseback tax equity investment structure, marking the first time the EneRate Credit Cover™ policy had been used on this particular structure. The insurance policy backstops payment default risk on commercial solar projects, which enables project developers to obtain affordable financing by providing confidence and certainty in project cash flows.
Verdant Commercial Capital, LLC has executed a multi-year Vendor Program Agreement with LBX Company, LLC, makers of Link-Belt Excavators. The agreement allows Verdant to provide retail financing for Link-Belt Excavator equipment to the LBX dealer network throughout the U.S.
Verdant Commercial Capital, LLC has hired Amanda Lundmark to manage business development efforts in the passenger transportation industry as Vice President, Relationship Manager. Lundmark has more than 13 years of experience in the equipment finance industry specializing in relationship management in shuttle bus and motor coach business segments. She will use her experience to support Verdant’s growth plans.
Verdant Commercial Capital, LLC has hired Travis Burnett as Vice President, Relationship Manager to grow originations in their technology vertical. In his role at Verdant Commercial Capital, Burnett will concentrate on building relationships with OEMs, distributors and resellers.