Verdant Commercial Capital, LLC launched as an independent equipment finance company in the second half of 2017. Based in Cincinnati, Verdant primarily will focus on providing innovative and flexible financing solutions supporting vendor partners.
Verdant is led by CEO Mike Rooney, Executive Vice President John Merritt and Chief Credit Officer Chris Kelley.
Rooney is the former co-founder of Information Leasing Corp (ILC) and EVP of PNC Equipment Finance (PNCEF). Merritt, is a former general manager of multiple business units within PNCEF. Kelley is the former Chief Credit Officer for National City Commercial Capital and Credit Executive at PNCEF. The Verdant team draws upon decades of industry experience, including successfully growing a small independent finance company into one of the largest bank owned equipment finance companies in the industry.
Verdant will build its balance sheet supported by the patient capital of a large private family office and an expansive senior debt facility from one of the largest banks in the U.S., officials said. The executive team’s intent is to combine the discipline learned over years in banking with flexible capital and entrepreneurial enthusiasm to serve vendor partners with speed, agility and smart solutions.
As the market for equipment financing continues to evolve, Verdant is well-positioned to quickly adapt and react to these changes by controlling its own capital and using its flexibility to structure contracts to meet these market dynamics. In today’s highly regulated environment, these capabilities will be highly valued by vendor partners and their customers.
Verdant’s initial focus will be in the broad segments of Specialty Vehicle, Construction, Technology, Energy Efficiency/Renewables, Industrial and Office Solutions.
In announcing the formation of Verdant, Merritt said, "Every business and segment is unique and has unique needs. Not every equipment financing firm is in a place to meet those needs. We are. We have the expertise, discipline and balance sheet of a bank but the flexibility of an entrepreneurial independent. Together, we can tailor a solution to meet our customer’s needs.”