EverBank announced the consolidation of its Capital Equipment Finance and Business Credit units into a single organization serving commercial clients nationwide. The combined business will be called EverBank Business Finance (EBF), with offices in New York City and Iselin, NJ, under the direction of industry veteran Ken Walters. Walters previously led EverBank’s Capital Equipment Finance business.

“We’re excited to establish EBF, which will provide a full suite of senior secured financing solutions to middle market companies,” said Walters. “The new vertical creates a business of significant scale with a large array of capabilities to provide asset-based revolvers and terms loans, equipment loans and leases and leveraged loans to support our clients’ working capital and equipment needs, growth strategies, acquisitions and recapitalizations.”

With deep industry expertise, the EBF team offers customized structured financing solutions across a broad range of asset types and industries, including food and beverage, transportation, retail and healthcare. The hold position will be up to $50 million, with the capability and expertise to arrange larger transactions through capital markets placements and other syndications strategies.