Santander Bank unified its commercial and industrial business and its commercial real estate, equipment finance and vehicle financing business into one U.S. commercial bank under the leadership of Michael Lee.
MidCap Business Credit expanded its product offerings this year by launching MidCap Equipment Finance. Led by Saurin Shah, a co-founder of Nations Equipment Finance (now SLR Equipment Finance), the new business aims to help MidCap become a one-stop financing partner for the middle market.
North Mill Equipment Finance increased the size of its senior loan facility with Deutsche Bank to $125 million to support 2020 originations. Additionally, North Mill closed a new $50 million senior loan facility with Truist Bank in December. The new loan facility increased North Mill’s total credit availability to $205 million.
Wells Fargo named David Marks, current head of Capital Finance, to succeed Ed Blakey, who is retiring, as head of Wells Fargo Commercial Finance.