Pitney Bowes Inc. has launched Wheeler Financial, an equipment financing entity focused on small and midsize businesses.
Wheeler Financial will operate as a new subsidiary of the company’s Salt Lake City-based FDIC-member Pitney Bowes Bank Inc., and it will provide Pitney Bowes’ with loans, leases and other financial structures to fund the purchase of new products and services. Wheeler Financial is named in honor of Walter Wheeler, whose four-decade career at Pitney Bowes began as a salesman and concluded as chairman and CEO.
“We understand our client’s needs for capital are growing,” said Christopher Johnson, senior vice president and president of 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.”