Associated Bank launches franchise banking vertical
Vertical launched with 5 members
Associated Banc-Corp is expanding its specialty finance platform with the launch of a national franchise banking vertical, part of a broader strategy to drive commercial growth and deepen relationships with business owners.
The Green Bay, Wis.-based bank’s new unit will focus on delivering tailored capital solutions to franchise operators across the U.S., adding to its existing specialty lines that include equipment finance, asset-based lending and structured finance, according to today’s Associated Bank release.
Shaun Coard has joined as senior vice president and business segment leader of franchise banking, reporting to Head of Specialized Industries John Utz, according to the release. Coard has more than 30 years of experience and previously led franchise banking at Bremer Bank, where she expanded the division and strengthened risk management practices.
Associated also hired four team members to support the platform, including roles in portfolio management, relationship management and cash solutions, according to the release. The move aligns with Associated’s growth strategy, which emphasizes expanding beyond the Midwest into national, industry-specific verticals.
The franchise banking unit is expected to complement the bank’s equipment finance and other specialty offerings by providing integrated financial solutions tailored to multi-unit operators and franchise brands, according to the release. Associated Banc-Corp has approximately $50 billion in assets and operates more than 200 branches across the Midwest, along with loan production offices nationwide.
The fourth annual Equipment Finance Connect, a crucial industry event for equipment lenders and dealers, takes place at the C. Baldwin Hotel in Houston May 18-19. Learn more about the event and register here.
