Pitney Bowes, a global provider of ecommerce solutions covering shipping, mailing, finance, and data, has launched a new finance company called Wheeler Financial.
Wheeler Financial will help clients purchase new equipment and services with loans, leases, and other financial structures. Focused on non-captive equipment, Pitney Bowes says this investment in the sustainability and growth of small and medium businesses is in response to developing market trends.
According to the most recent National Center for Middle Market Indicator, 71% of businesses surveyed are planning to invest extra cash into their business, but access to funding is becoming more restricted.
Christopher Johnson, president, Pitney Bowes Financial Services, said: “We understand our clients' needs for capital are growing.
“The market’s ability to meet that need is actually shrinking. With the launch of Wheeler Financial, we are committed to investing in our clients’ growth by helping them acquire the assets essential to their business operations.”
Pitney Bowes Financial Services has been providing financial solutions to purchase Pitney Bowes equipment for more than 30 years, funding more than $10 billion of acquisitions to date. With the launch of Wheeler Financial, Pitney Bowes extends this service to the wider SME market.
Wheeler Financial is named in honor of Walter Wheeler, who served Pitney Bowes for more than four decades including serving as chief executive officer and chairman.