The partnership between Beneficial Bank and Neumann Finance brings together two established leadership teams, building a network aimed at helping businesses find the best equipment financing options and services. Neumann Finance will target various equipment categories including technology, software, office, medical and other areas.
Neumann Finance will be headed by industry veterans
"This expansion will provide a significant growth opportunity for Beneficial Bank helping us to achieve higher levels of profitability and adding diversity to our loan portfolio," said Beneficial Bank Chief Executive Officer,
"We're thrilled to have the backing of an established financial institution such as Beneficial Bank," said Neumann Finance Chief Executive Officer,
About Beneficial Bank
Founded in 1853, Beneficial Bank is the oldest and largest bank headquartered in Philadelphia. With 63 offices in the greater Philadelphia and South Jersey regions and approximately $5.7 billion in assets, Beneficial is a full service financial institution whose product offering includes commercial, consumer and real estate lending, equipment finance, insurance and wealth management services. Beneficial has been committed to providing financial education to individuals and businesses in the Delaware Valley for more than 160 years. Visit www.thebeneficial.com for more information.
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SOURCE Beneficial Bank
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