The Monitor 100 companies continued to chart steady growth despite a looming recession, ongoing inflation, a rising rate environment, climbing capital costs and mounting margin pressure. With a recession in the forecast and a cooling job market, the group continues to contend with supply chain challenges while striving to become more efficient and effective companies.
This year’s Monitor 100 companies reported net assets of $555.9 billion, new business volume of $216.6 billion and 26,609 employees.
Each year, the Monitor highlights 40 up and coming leaders under the age of 40 in their Monitor NextGen issue. One of this year's equipment finance rising stars is one of the Verdant Commercial Capital team.
Bennett Kowalk
Vice President, Corporate Controller
Verdant Commercial Capital
“I am forever grateful that Verdant allowed me the freedom to make such an impact to the organization.”
Verdant Commercial Capital announces the retirement of John Evans, Vice President, Business Development Manager, effective June 30, 2023. A financial services veteran, he has spent more than 40 years working in the equipment financing industry.
Equipment leasing was a newer field for banks when Evans started working in banking. “Equipment leasing gave me an alternative to the traditional side of banking,” reminisced Evans. “Initially, I was attracted to structuring tax leases. Then as my career focused on vendor finance, I enjoyed building relationships and financing programs with equipment OEMs and dealers.”
For the second consecutive year, Verdant Commercial Capital has been named a Top Workplace in the Greater Cincinnati and Northern Kentucky area by The Enquirer Media.
The Top Workplaces list is based solely on employee feedback gathered through a third-party survey administered by employee engagement technology partner Energage, LLC. The confidential survey measures 15 culture drivers that are critical to the success of any organization, including alignment, execution, and connection.
Verdant Commercial Capital, LLC, the nation’s sixth largest independent equipment finance company, announces the expansion of its funding capacity with the addition of a new $150 million warehouse line of credit provided by Bank of America, N.A.
This additional capacity will allow Verdant to finance even more equipment for its existing vendor clients as well as accommodate the expanding volume of new customers being added to the portfolio every day.
Businesses can get energy efficiency upgrade loans and leases with zero interest under a state program funded by California utilities.
GoGreen Business Energy Financing is administered by the California State Treasurer’s Office and targeted at small and medium-sized businesses.
In greater Sacramento, the approved lenders in the business program are Ascentium Capital, DLL Group and Verdant Commercial Capital.
Sentry Financial and Verdant Commercial Capital closed a $24 million equipment lease of construction equipment, including aerial work platforms and material handling equipment, for an equipment management, leasing and technology company.
Despite a litany of macroeconomic challenges, in another banner year, Monitor’s Top 30 Private Independents built on a record-setting 2021 to produce a 30.8% increase in new business volume in 2022.
The Cincinnati USA Regional Chamber has selected 50 leaders to be part of Class 10 of Cincy Next, a leadership development program produced by the chamber’s Leadership Center.
Cincy Next is designed for emerging leaders in their early 20s to early 30s with less than eight years of professional experience. The program helps them connect with other young talent from across the region and develop both professionally and personally. It covers a variety of professional development topics including personal branding, conflict management and goal setting.
“Cincy Next is all about identifying, connecting, and equipping the region’s future leaders,” Andrea Mersmann, leadership programs manager of Leadership Center at the Cincinnati Chamber, said in a news release. “The program participants will attain tools that will help them grow personally and professionally beyond Cincy Next, while also building relationships and connections to the communities in which they work and live.”
Here are the members of this year's class:
Jeffrey Bogenschutz, senior analyst, Verdant Commercial Capital LLC
Verdant Commercial Capital, LLC, the sixth largest independent equipment finance company in the United States, announced that its 2022 originations were $551MM, an increase of 42% over 2021. Verdant originates leases and loans via relationships with top-tier vendors, OEMs, and dealers of business-essential capital equipment and software.
“Our unique ability to support originations from below $25,000 to more than $50 million across a wide spectrum of credit profiles has made Verdant the go-to source for vendors seeking easy financing solutions for their customers,” said Mike Rooney, CEO of Verdant Commercial Capital. “In addition, Verdant’s vendor business approach continues to prove that strong relationships with high-quality partners produce results that are predictable, sustainable and scalable.”