Pitney Bowes’ equipment finance subsidiary, Wheeler Financial, closed a financing transaction for Giuliante Machine Tool, a manufacturer of aerospace components. Giuliante will invest the capital in manufacturing technology.
Having expanded to a 27,000 square-foot facility in Peekskill, NY, Giuliante Machine Tool was looking to invest in equipment that would allow it to produce higher volumes of components more efficiently. The manufacturer entered into a five-year dollar-buyout lease from Wheeler Financial.
“In our experience, sometimes the larger banks make borrowing more challenging than it needs to be. Wheeler Financial was very easy to work with. The entire process was fast and smooth from start to finish,” Marcelo Giuliante, vice president of operations at Giuliante Machine Tool, said.
“Small businesses like Giuliante Machine Tool must invest to grow but don’t want the burden of major upfront capital investment, particularly after the most challenging year many have ever experienced,” Christopher Johnson, senior vice president and president of Pitney Bowes Financial Services, said. “Despite the negative impact COVID-19 is having on the market, we continue to invest in small and mid-sized businesses, which are a vital segment of our economy.”
Like this story? Begin each business day with news you need to know! Register now for FREE Daily E-News Broadcast and start YOUR day informed!