Grading firm secures funding to invest in growing business
STAMFORD, Conn.--(BUSINESS WIRE)--Feb. 27, 2020-- Pitney Bowes Inc. (NYSE: PBI), a global technology company that provides commerce solutions in the areas of ecommerce, shipping, mailing and financial services, today announced that Wheeler Financial from Pitney Bowes has closed a financing transaction with T.W. Phillips Grading Inc. The company is using the capital to expand its fleet of heavy equipment and position itself for growth.
Based in Dawsonville, Georgia, T.W. Phillips Grading, Inc. is a family-run business founded by owner Tracey Phillips. With contracts in both the municipal and commercial sector, the business operates heavy equipment to prepare surfaces for roads and building foundations such as schools and new commercial sites. To secure growth opportunities beyond the region, T.W Phillips Grading, Inc. partnered with Wheeler Financial from Pitney Bowes to secure the capital it needed to invest in new equipment.
“There’s great demand and opportunity for our business, especially with continued growth in the northern Atlanta suburbs ,” said Tracey Phillips, owner and founder of T.W. Phillips Grading, Inc. “We need to invest to respond to this growth or risk missing out, but we can’t afford to be held back by complex, lengthy access to capital. Wheeler Financial made it easy for us. They were flexible and responsive, and they demonstrated a detailed understanding of our business from the earliest stages. As a result, we have expanded our fleet of excavators and are perfectly poised to grow our business.”
“Small businesses like T.W Phillips Grading, Inc. have every right to secure capital quickly and easily. It’s a prerequisite for growth. In reality, this is far from easy,” said Christopher Johnson, Senior Vice President and President, Pitney Bowes Financial Services. “Wheeler Financial is turning this problem on its head. We have almost a century of experience supporting small businesses. We have a robust history of lending, we have access to capital, and we are vocal about our firm commitment to Main Street. We’re very proud to partner with T.W. Phillips and other hardworking small businesses across America.”
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; 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/20200227005249/en/
John Spadafora
Pitney Bowes
M +1 518 708 3466
john.spadafora@pb.com
Source: Pitney Bowes Inc.
John Spadafora
Pitney Bowes
M +1 518 708 3466
john.spadafora@pb.com
