Market Overview

Wheeler Financial™ from Pitney Bowes to Provide Equipment Financing to Small and Medium Businesses

Share:

Pitney Bowes Inc. (NYSE:PBI), a global technology company that provides
commerce solutions in the areas of ecommerce, shipping, mailing,
finance, and data, today announced Wheeler Financial from Pitney Bowes,
a new subsidiary of the Pitney Bowes Bank, Inc., Member FDIC. This new
subsidiary will be dedicated to helping small to middle market clients
acquire the critical assets they need to grow and expand their business.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20190319005255/en/

Wheeler Financial from Pitney Bowes will help clients purchase new
equipment and services critical to the industries in which they operate
with loans, leases, and other financial structures. Focused on
non-captive equipment, this investment in the sustainability and growth
of small and medium businesses comes at an opportune time. According to
the most recent National Center for Middle Market Indicator, 71% of
businesses surveyed are planning to invest extra cash into their
business. In addition, the FDIC reports that small business loans have
declined for 10 straight quarters, while banks with $100M of assets or
less decreased by 79% between the years 1998 to 2018.

"We understand our client's needs for capital are growing," said
Christopher Johnson, Senior Vice President and President, Pitney Bowes
Financial Services. "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."

The Pitney Bowes Bank, Inc., Member FDIC, resides in Salt Lake City,
Utah and was established in 1997 to facilitate buying of U.S. postage –
a form of currency. Clients can access extended lines of credit for
postage, supplies, shipping expenses and postal equipment rental. In
addition, they can hold deposit accounts and earn interest while they
prepay for postage services. Pitney Bowes Financial Services has been
providing commercial lending opportunities and solutions to purchase
Pitney Bowes equipment for more than 30 years; financing over $10B to
date. With the advent of Wheeler Financial, Pitney Bowes has access to
bank capital ready to loan out to SMBs.

Pitney Bowes is expanding investment in its financial services business
as it makes resources available to its significant small and medium
business client base. The company has facilitated commerce for nearly
100-years and is committed to having a positive impact on local
communities and jobs.

Wheeler Financial is named in honor of Walter Wheeler, who served Pitney
Bowes for over four decades in roles such as salesman, European
representative, general manager, CEO and Chairman. He was a visionary in
commerce whose impact continues to inspire the company today.

Visit www.wheelerfinancial.com
to learn more.

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. The Pitney Bowes
Bank, together with Pitney Bowes, has been financing Pitney Bowes
equipment for over 20 years. 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 Comments and Join the Discussion!