Rockland Trust announced that the bank will expand its services for business with the introduction of Rockland Trust Leasing, which will provide equipment leasing as a flexible financing alternative for the bank’s commercial and small business client base. The new service will provide customers with a finance option that enables them to more effectively manage cash flow and credit lines, and protect them from equipment obsolescence, as well as allow for upgrades or additional equipment as needed.

“We’re excited to offer this new service to help companies acquire the equipment they need to operate and expand their business,” said Gerry Nadeau, Executive Vice President of Commercial Banking at Rockland Trust.

The decision comes at a time when the equipment leasing and finance sector is approximately $1 trillion in the United States, according to the Equipment Leasing and Finance Association (ELFA). It applies to both operating and capital leases, and is available for almost all types of business equipment. While the service is valuable to companies in a broad range of industries, the most common sectors benefiting from equipment leasing programs are construction, manufacturing, hospitality, fitness, and real estate. It is also valuable to the medical and energy sectors.

Rockland Trust’s Commercial Banking division has more than 50 commercial lenders and 11 lending centers throughout Massachusetts and Rhode Island. With a lending capacity of more than $75 million, the team has broad experience in areas such as asset based lending, commercial real estate, construction and land development, equipment financing, commercial mortgages, and low income housing loans. In addition, the team can meet all the financial needs of its customers with additional services such as business deposit products, merchant and foreign exchange services, and a comprehensive range of cash management services to help companies optimize their cash flow.