Marlin Business Services to expand equipment financing for small businesses

By ROI-NJ Staff
Mount Laurel | Apr 3, 2018 at 11:06 am

Mount Laurel-based Marlin Business Services Corp., a provider of credit products and services to small businesses, announced Monday it has entered into an agreement with New York-based Varadero Capital to sell up to $300 million in equipment leases and loans to be originated by Marlin.

“The primary purpose of this arrangement is to expand Marlin’s ability to provide equipment financing to small businesses that are not currently served by our existing finance programs,” said Jeffrey Hilzinger, CEO and president of Marlin.

Hilzinger said the partnership with Varadero will diversify Marlin’s funding sources and provide it with new lending capacity. It will also strengthen its position in the small business financing marketing with its credit capacity expanding.

Marlin provides equipment financing to small businesses. The company also provides working capital loans to its small business clients.

“Our goal is to become a single source of equipment financing for our partners across a wide range of products, transaction sizes and credit bands,” said Mark Scardigli, chief sales officer of Marlin. “Our partners tell us that they want to be able to work with a single financing partner for all of their small business customers. While Marlin has long held a leading position in providing financing to small businesses, this arrangement will allow us to expand our credit capacity to help us finance equipment purchases for both well-established and less-established businesses, enabling us to further strengthen and grow our relationships with our partners and small business customers.”

BRG Capital Advisors LLC was the exclusive advisor and Dechert LLP acted as legal counsel to Marlin Business Bank. Wilson Sonsini Goodrich & Rosati P.C. acted as legal counsel for Varadero.

”We are excited to begin this new relationship with Marlin,” said Fernando Guerrero, managing partner and chief investment officer of Varadero. “Over the past 20 years, Marlin has built an exceptional business, with a strong vision of enabling the growth of small businesses and we look forward to continuing to grow and evolve our relationship with Marlin in the future.”

ROI-NJ Staff | editorial@roi-nj.com | @ROINJNews