Cogent Bank Specialty Lending Team Closes Over $45 Million in New Transactions

Cogent Bank’s Specialty Lending Group is pleased to announce the closing of over $45 million of new relationships thus far in 2019:

-             $1,000,000 revolving line of credit for a healthcare staffing company located in Florida.

-             $6,000,000 revolving line of credit for a specialty pharmacy and benefits management group located in South Carolina.

-             $2,000,000 revolving line of credit for an design and engineering firm located in Florida.

-             $3,000,000 revolving line of credit for a specialty staffing group based in Florida.

-             $4,750,000 revolving line of credit and a $400,000 term loan to a product branding and sign manufacturer located in Florida.

-             $1,000,000 revolving line of credit for an e-commerce furniture importer located in Florida.

-             $1,000,000 revolving line of credit for a specialty medical billing and services company located in Florida.

-             $2,000,000 revolving line of credit for a legal settlement management group based in Florida.

-             $1,000,000 revolving line of credit for a publisher of educational material located in Florida.

-             $4,000,000 revolving line of credit for an outdoor apparel business located in Florida.

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

-             $2,000,000 revolving line of credit for a vehicle leasing company located in Florida.

-             $3,500,000 revolving line of credit for a private equity owned logistics company based in Florida.

-             $5,000,000 revolving line of credit for a fishing tackle manufacturer located in Florida.

-             $2,000,000 production line of credit and a $2,200,000 real estate loan for a luxury boat manufacturer located in Florida.

-             $5,200,000 in inventory financing for a modular building company located in Florida.

Michael Skat, Managing Director for Cogent Bank’s Specialty Lending Group stated, “We are off to a great start building this unique product line in a community banking environment.  Our thoughtful approach in assembling an experienced, client focused team combined with innovative technology helps our customers manage their business more efficiently and effectively.  The creation of the Specialty Lending Group is a testimony to the progressive mindset of our Executive Management Team and our Board of Directors.”

Cogent Bank is a state-chartered commercial bank with offices in Jacksonville, Orlando, Orange City and Tampa.  The bank offers clients an experienced relationship management team with deep roots in the communities it serves.  With robust lending and depository capabilities, along with sophisticated treasury management and property management services the bank focuses on delivering excellent customer care.