Pitney Bowes Bank signed a term loan and accompanying revolving line of credit with Zion Delivery Service of Long Beach, CA. ZDS specializes in last mile delivery support for national and regional carriers in Los Angeles County, Orange County and other markets across Southern California. The credit facility from Pitney Bowes provides ZDS with working capital and liquidity to support growth.
Founded in 2004, ZDS operates alongside ZDS Express Couriers, which runs 10 to 12 FedEx routes with contracted drivers. Both organizations are 100% owned by Jeremy Pippen, founder and president of ZDS.
“Carriers such as Amazon Logistics, DHL and USPS rely on ZDS for last mile support, and the past year has seen increasing pressure on our business following the surge in e-commerce,” Pippen said. “We needed to invest to grow but were disadvantaged by expensive long-term debt and a lack of flexibility in our lending. The team at Pitney Bowes was helpful, responsive and knowledgeable. They offered a choice of flexible, affordable options which suit the business perfectly. We’re now in a strong position to build momentum and take our business to the next level.”
“We continue to build out our product portfolio to meet the growing needs of Main Street businesses, the backbone of our economy,” Christopher Johnson, senior vice president and president of Pitney Bowes Financial Services and a board member of Pitney Bowes Bank, said. “We are pleased to support ZDS through our deep expertise in the shipping and logistics industry. This deal embodies our strategy to continue to grow with companies like ZDS that are well poised in this rapidly expanding market segment.”
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