Latest transaction confirms Wheeler’s continued commitment to Main Street
STAMFORD, Conn.–(BUSINESS WIRE)–Pitney Bowes Inc. (NYSE: PBI), a global technology company that provides commerce solutions in the areas of ecommerce, shipping, mailing, data and financial services, today announced that Wheeler Financial from Pitney Bowes has closed a financing transaction with InterWest Paper, a full-service recycling facility for the Pro Recycling Group.
Located in Denver, Colorado, InterWest Paper has been managing recyclable collection across seven Western States for over forty years. Recent increased demand for its recycling services has led to pressure on its current logistics network. As a long-term Pitney Bowes client, InterWest turned to Wheeler Financial to quickly secure the capital for investment in critical use equipment. As a result, they are now well positioned to execute on an operational excellence and growth strategy.
“The service we deliver to our customers is what sets us apart, but it was becoming clear that we needed to make investments to maintain these high standards and deliver services across new routes. The right transport is mission-critical equipment for us. Wheeler Financial were responsive, supportive and flexible. The capital we have secured for investment is a springboard for growth,” said Lewis Peck, CEO, InterWest Paper.
“The health of America’s economy depends on our small businesses. For them to thrive, they need consistent access to capital from a diverse group of credit providers,” said Christopher Johnson, Senior Vice President and President, Pitney Bowes Financial Services. “Having a partner like Wheeler Financial that understands the needs of small businesses is now more critical than ever. We have an unwavering commitment to helping businesses like InterWest Paper secure the capital they need to grow.”
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. 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.
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