Cogent Bank’s specialty lending group surpassed $100 million in loan commitments in fewer than 30 months. The last transaction of 2020 put Cogent’s specialty lending group over $100 million in commitments.
Mike Skat, executive vice president of Cogent Bank’s specialty lending group, created a roadmap for how Cogent’s specialty lending group would operate, establishing growth goals. During a difficult 2020, Skat and his team assisted with liquidity support for existing borrowers through the Paycheck Protection Program and certain restructurings.
“Reaching this milestone took a focused team effort between all members of the division, including Abbey Henderson, Cristina Brabson and Gabby Torres. We also received outstanding support from Cogent’s credit administration, loan operations, the executive management team and our board,” Skat said.
Cogent Bank grew to nearly $700 million in total assets by the end of 2020 and completed several capital raises. The bank’s specialty lending group focuses on asset-based lending, lender finance and recurring revenue lending.
