Eagle Point, Apple Bank launch Newton Commercial Finance
Company focuses on infrastructure, equipment finance
Eagle Point Credit Management and Apple Bank have formed Newton Commercial Finance, a new platform focused on providing customized infrastructure project and equipment financing solutions to companies with limited access to traditional bank lending.
Newton will target essential-use assets backed by strong collateral and apply a selective credit approach, according to an Oct. 8 Eagle Point release. The platform combines Greenwich, Conn.-based Eagle Point’s institutional capital access, credit analytics and portfolio management expertise with New York-based Apple Bank’s long-standing client relationships and operational capabilities.
The collaboration will expand both firms’ financing capabilities and create scalable opportunities for clients and investors, according to the release. In addition, current and potential customers gain access to flexible, borrower-focused solutions during a time when confidence in the equipment finance industry remains in recovery.
Eagle Point manages more than $13 billion in private credit strategies, according to the release. Apple Bank, founded in 1863, holds $17.5 billion in assets and operates more than 75 branches across the New York metropolitan area.
Register here for the free Equipment Finance News webinar “High-priced used equipment inventory: The no-man’s land of equipment finance” set for Tuesday, Oct. 21, at 11 a.m. ET.
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