Cogent Bank, a full-service business and personal bank based in Orlando, FL, expanded into the jet financing industry with a business aviation vertical that will serve a variety of aircrafts. From turboprop to ultra-long-range aircraft, transactions from the vertical will range from $3 million to $25 million.
“Cogent Bank is constantly moving its clients forward by providing new services to keep up with the unique needs of the industries we serve,” Chirag Bhavsar, president of Cogent Bank, said. “The development of the Business Aviation vertical is another strong example of Cogent’s commitment to bringing innovative and forward-thinking solutions to our clients.”
Jim Crowley, managing director of business aviation and Margaret Francik, vice president of business aviation finance operations manager, will lead the new initiative that will provide its clients with bank balance sheet credit profiles, structured finance opportunities, select floor planning, loans and leases, with a risk reward pricing model and streamlined credit and execution capabilities.
“While the Business Aviation vertical will serve clients nationally, the team will maintain a focus in the Florida market,” Jim Crowley, managing director of Business Aviation, said. “With Florida being home to five of the most trafficked business jet airports in the United States and being one of the five largest business jet markets, Cogent Bank is uniquely suited to servicing the needs of this industry.”
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