John Martella to lead new Navitas equipment finance business

Navitas Credit Corp., a wholly-owned subsidiary of United Community Bank, is to launch a new middle market equipment finance group, headed up by John Martella as senior vice-president.

The newly-formed Navitas Capital division will focus on middle market transactions starting at $500,000 and providing a variety of funding solutions for companies with revenues of more than $10 million.

Business will be sourced through relationships with equipment vendors, certain franchise concepts, independent lessors, financial institutions and captives.

Martella, who has more than 35 years of experience in the leasing sector, said: “We will be leveraging the resources and infrastructure of Navitas and developing the types of products and services that will make Navitas one of the premier providers of middle market equipment finance solutions.”