Synovus Financial in Columbus, Ga., and Verdant Commercial Capital in Cincinnati have formed an equipment finance business.
Synovus Equipment Leasing will offer leasing and equipment finance agreements for the $56 billion-asset bank’s customers ranging from $25,000 to $50 million. The financing is supported by a line of credit from Synovus Specialty Finance.
“We are excited to partner with the bank’s commercial equipment leasing team to deliver a value-added solution for their clients,” Brian Lowe, Verdant’s chief commercial officer, said in a press release.
“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 … solution in market,” Lowe added.