Marlin Business Services Corp. announced the formation of its Industrial Finance Group.

The company also announced that to drive the new effort, Marlin has hired Rich Garwood as Vice President of the Industrial Finance Group. In his new role, Garwood will provide leadership and expertise for Marlin's business strategy to increase penetration in this market segment, which includes several equipment categories within the industrial market. Garwood is a seasoned professional with over 25 years of experience. He has held various sales leadership and management positions throughout his career, and worked most recently at GE Capital Dealer Financial Services as Vice President/Region Sales Manager. Previously, he was Senior Vice President/Region Manager at CitiCapital Commercial Equipment Finance.