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Bank of America Provides New $150MM Warehouse Line of Credit to Verdant Commercial Capital

June 13, 2023, 07:50 AM
Filed Under: Lender Finance

Verdant Commercial Capital expanded its funding capacity with the addition of a new $150 million warehouse line of credit provided by Bank of America.

This additional capacity will allow Verdant to finance even more equipment for its existing vendor clients as well as accommodate the expanding volume of new customers being added to the portfolio every day.

“Diversity of funding sources coupled with sufficient committed lines of credit are critical in supporting our continued business growth,” said Verdant Chief Financial Officer Robert Moskovitz. “With approximately $500 million in warehouse capacity, plus access to the debt capital markets, Verdant has a sound financial base to meet the demands of our equipment vendor partners.”

“We’re appreciative of Bank of America’s support of the Verdant platform, especially in a time of upheaval in the banking segment when many banks may be retrenching,” said Verdant Chief Executive Officer Mike Rooney. “Despite the headlines of economic slowdown, so far in 2023 Verdant has experienced strong origination demand and growth.”

For more equipment finance industry news, visit Equipment Finance Advisor.

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