Cobra Leasing announced it is adopting a new name, Providence Equipment Finance (PEF), a Division of Providence Bank & Trust.

Providence Bank & Trust in 2016 closed on an asset purchase agreement in which the bank acquired substantially all of the assets and assumed the operations of Cobra Capital LLC, a national independent equipment finance company.

“After 18 highly successful years funding both conventional and emerging growth SME's, we start another growth chapter in adopting our new name, Providence Equipment Finance (PEF), a Division of Providence Bank & Trust. The Huizenga Family Office's exclusive, entrepreneurial community bank investment. Expect even more creative ways of providing our trademarked ‘Solutions that work’ financing programs for the best entrepreneurs in our great country,” said Dale R. Kluga, President of Providence Equipment Finance.

Cobra Capital was founded in 2000 by Kluga.