Cogent Bank Specialty Lending Tops $45MM in New Transactions

Cogent Bank’s Specialty Lending Group has closed more than $45 million of transactions involving new relationships thus far in 2019.

Brief details of the transactions are:

• $1 million revolving line of credit for a healthcare staffing company located in Florida.

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• $6 million revolving line of credit for a specialty pharmacy and benefits management group located in South Carolina.

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• $2 million revolving line of credit for an design and engineering firm located in Florida.

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• $3 million revolving line of credit for a specialty staffing group based in Florida.

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• $4,75 million revolving line of credit and $400,000 term loan to a product branding and sign manufacturer located in Florida.

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• $1 million revolving line of credit for an e-commerce furniture importer located in Florida.

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• $1 million revolving line of credit for a specialty medical billing and services company located in Florida.

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• $2 million revolving line of credit for a legal settlement management group based in Florida.

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• $1 million revolving line of credit for a publisher of educational material located in Florida.

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• $4 million revolving line of credit for an outdoor apparel business located in Florida.

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• $850,000 equipment term loan and $500,000 equipment guidance line of credit for a Florida based apparel and gift business.

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• $2 million revolving line of credit for a vehicle leasing company located in Florida.

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• $3.5 million revolving line of credit for a private equity owned logistics company based in Florida.

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• $5 million revolving line of credit for a fishing tackle manufacturer located in Florida.

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• $2 million production line of credit and a $2,2 million real estate loan for a luxury boat manufacturer located in Florida.

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• $5.2 million in inventory financing for a modular building company located in Florida.

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“We are off to a great start building this unique product line in a community banking environment. The creation of the Specialty Lending Group is a testimony to the progressive mindset of our executive management team and our board of directors,” said Michael Skat, managing director for Cogent Bank’s Specialty Lending Group.

Cogent Bank is a state-chartered commercial bank with offices in Jacksonville, Orlando,