Cogent enters jet financing sector with business aviation vertical
Orlando-based Cogent Bank has expanded into the jet financing industry with its business aviation vertical.
The new vertical will serve a variety of aircrafts, from turboprop to ultra-long-range aircraft with transactions ranging from $3m to $25m.
Cogent Bank, president, Chirag Bhavsar said: “Cogent Bank is constantly moving its clients forward by providing new services to keep up with the unique needs of the industries we serve. 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.”
The new initiative is led by Jim Crowley, managing director of business aviation and Margaret Francik, vice president, business aviation finance operations manager. The vertical will provide its clients with bank balance sheet credit profiles, structured finance opportunities, select floor planning, loans and leases.
Crowley said: “While the Business Aviation vertical will serve clients nationally, the team will maintain a focus in the Florida market. 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.”
Cogent has seen growth across all its verticals. Most recently, the Bank has expanded its private wealth vertical and added new public finance, blockchain enabled companies and cannabis banking verticals.