Neumann Finance, a newly established nationwide commercial equipment financing company, and a subsidiary of Beneficial Bank, launched its origination platform and commenced business operations.

“It is an exciting time here at Neumann Finance,” Daniel P. Dyer, CEO of Neumann Finance, said. “Our leadership team has spent the last few months building a best-in-class origination platform, and we are now excited to be moving into production mode.”

“With the launch of our technology driven digital platform and our tagline Business Lending Done Right, we are positioned to better serve customers with very attractive equipment financing programs and an unrivaled level of service in the marketplace,” George Pelose, Neumann’s president, said.

Neumann will offer highly competitive equipment leasing products and services for a broad range of asset classes nationwide. It will service both equipment dealers and end-user business customers with a focus on the small ticket equipment dealer market. The company is led by Dyer, who has more than 30 years of industry experience as the co-founder and former chairman and CEO of Marlin Business Services, and Pelose, who has nearly 20 years of experience and is the former chief operating officer and general counsel of Marlin Business Services.

Neumann plans to move into its new headquarters in Center City Philadelphia during Q3/18.