Pitney Bowes (NYSE:PBI)
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6 Months : From Jun 2019 to Dec 2019
North Carolina firm purchasing asphalt paver to expand into larger-scale contracts
Pitney Bowes (NYSE: PBI), a global technology company that provides commerce solutions in the areas of ecommerce, shipping, mailing, finance and data, today announced that Wheeler Financial from Pitney Bowes has closed a financing transaction with Bryant’s Land and Development. The engineering and construction firm is using the capital to upgrade its equipment for improved productivity and accelerated growth.
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Bryant’s Land and Development is a family-run firm with a reputation for quality and reliability. Based in Burnsville, North Carolina, the business has delivered construction and engineering projects throughout the region, particularly on the Blue Ridge Parkway, one of the most iconic routes in North America. As Bryant’s expands its business into larger-scale projects on the Blue Ridge and beyond, investing in more efficient equipment is critical to their success.
North Carolina is experiencing rapid growth. In 2018, it ranked as Forbes’ Best State for Business for the second consecutive year and was one of the top U.S. states for GDP growth.
“Our growth plan relies on continuous investment in capabilities,” said Greg Bryant, owner of Bryant’s Land and Development. “Getting the right equipment in place enables us to win and manage larger bids more effectively. And financing those investments with the right partners is equally important to achieving that growth. With Wheeler Financial, we found a finance partner with whom we could build a long-term relationship rather than just completing a one-off transaction.”
“Small businesses need cash to invest in the right equipment to generate growth, but when they’re managing day-to-day expenses it can be a huge challenge to maintain this liquidity,” said Christopher Johnson, Senior Vice President and President, Pitney Bowes Financial Services. “It’s important to choose the financial partner that can help you optimize your flexibility over the long term. With a rich history of serving SMBs for nearly 100 years, we have the domain expertise, human capital, and financial capital to help small businesses succeed. This partnership with Bryant’s Land Development illustrates our commitment to this important sector, helping small companies win in an ever more competitive environment.”
Pitney Bowes has been a trusted enabler for small business growth for almost 100 years, has operated a bank platform for two decades, and has financed or leased more than $10bn of equipment. Wheeler Financial from Pitney Bowes, a subsidiary of the Pitney Bowes Bank, Inc., Member FDIC, was announced earlier this year. The subsidiary was founded specifically to meet the finance, loan and leasing requirements of small- and middle-market clients, to help them acquire critical assets.
About Wheeler Financial from Pitney Bowes
Wheeler Financial™ from Pitney Bowes is a subsidiary of The Pitney Bowes Bank, Inc., Member FDIC, dedicated to helping small to lower middle market clients acquire the critical assets they need to grow and expand their business with innovative financing solutions. For more than 30 years, Pitney Bowes has been financing their own equipment, while the Pitney Bowes Bank was established in 1996 to support postage financing. Our expansion into helping our clients finance other purchases reflect our continued commitment to helping our customers grow efficiently and effectively.
About Pitney Bowes
Pitney Bowes (NYSE:PBI) is a global technology company providing commerce solutions that power billions of transactions. Clients around the world, including 90 percent of the Fortune 500, rely on the accuracy and precision delivered by Pitney Bowes solutions, analytics, and APIs in the areas of ecommerce fulfillment, shipping and returns; cross-border ecommerce; office mailing and shipping; presort services; location data; customer information and engagement software; services; and financing. For nearly 100 years Pitney Bowes has been innovating and delivering technologies that remove the complexity of getting commerce transactions precisely right. For additional information visit Pitney Bowes, the Craftsmen of Commerce, at www.pitneybowes.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190731005254/en/
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