BBVA Compass formed a transportation banking division to provide financial services to trucking, rail, shipping, logistics and air-related companies across the country.
Nick Weaver, who has more than 20 years of industry experience will be leading the group to provide loans, revolving credit, equipment and acquisition financing and other financial products and services.
“Transportation continues to be a stable and growing industry closely tied to the demand for consumer goods and raw materials across the country,” said Weaver, who is based in Atlanta. “As the economy continues to improve, we expect to see an increase in the movement of goods.”
Rafael Bustillo, BBVA Compass’ head of commercial banking, said the bank’s transportation banking group pairs well with its equipment finance offering, which helps companies lease and acquire rail cars, aircraft and other equipment. BBVA Compass announced the launch of its equipment leasing and financing division in August 2013.
“Now, we can provide our customers everything from financing their equipment fleet to helping them expand through acquisitions,” Bustillo said.
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