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Verdant Commercial Capital Signs Private Label Program Agreement with Synovus Bank

July 08, 2022, 06:00 AM
Filed Under: Equipment News

Verdant Commercial Capital executed a multiyear program agreement with Synovus Bank to provide a new equipment finance offering — Synovus Equipment Leasing — for Synovus Bank commercial customers. Through the offering, leasing and equipment finance agreements for essential use equipment can range from $25,000 to $50 million. The program is for Synovus commercial customers only and is now available.

This relationship combines Verdant’s speed and efficiency of fast credit underwriting, simple document processing, and customer-centric servicing with the large banking footprint of Synovus Bank, bringing flexible alternatives for Synovus customers who wish to acquire essential use equipment through financing. The program agreement will allow Synovus relationship managers an opportunity to further support clients in this space. This financing is supported by a line of credit from Synovus Specialty Finance.

“Synovus has a proven 134-year banking history and is $56 billion in assets strong,” said Brian Lowe, chief commercial officer for Verdant Commercial Capital. “We are excited to partner with the bank’s commercial equipment leasing team to deliver a value-added solution for their clients. This product fills a need for Synovus’ relationship managers to offer fast, flexible, competitive equipment financing to their commercial clients, and we are looking forward to getting this exceptional solution in market to serve a variety of financing sizes and collateral types.”

“As a leading Southeast regional bank, we are committed to being trusted advisors and providers of best-in-class service and solutions for clients,” said Matt Paluch, chief operating officer for Synovus’ wholesale banking team. “This relationship with Verdant furthers our mission by delivering agility and expertise to supplement our core banking offerings through white label equipment financing options.”

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