Popular Community Bank, the U.S. banking subsidiary of Popular, Inc., announced the appointment of Dale Kluga to lead its national equipment finance business, Popular Equipment Finance (PEF). Kluga has more than 31 years of experience in banking and equipment leasing. He will be based out of Rosemont and will report to Michael McCracken, Illinois Region Executive for Popular Community Bank.

PEF will leverage Cobra Capital’s successful fee income business model of providing equipment financing to small and mid-size businesses through its national network of direct and indirect origination sources and financial intermediaries. PEF also plans on expanding its operation to include additional forms of small and mid-market financial service products to support the needs of Popular business clients nationwide.

“We are thrilled that Dale will lead our equipment finance operations. His proven track record of building a highly successful business will help with our expansion,” said Michael McCracken. “We continue to work with the business and financial communities to identify opportunities where we can best support their equipment financing and funding needs. Dale’s expertise will help us advance our business growth.”

Prior to joining the bank, Kluga was founder and president of Cobra Capital, an independent national finance company specializing in small-business and middle-market leasing. Before founding Cobra, he founded Great American Leasing Company, LaSalle National Leasing Corporation, the equipment leasing subsidiary of LaSalle National Bank of Chicago and co-founded LaSalle Bank of Vernon Hills.

Added Kluga, “I am thrilled to leverage my expertise at PEF and help small businesses with their financing needs. This is an incredible platform that brings a community touch to a national level for businesses involved in many different sectors of our economy.”

Prior to his position at LaSalle National Bank, Kluga was Chief Credit Officer at LINC where he was recognized as a credit authority and workout specialist.