Merchants Bank Equipment Finance Recognized for 30 Years of Membership in the Equipment Leasing and Finance Association The Equipment Leasing and Finance Association (ELFA) has recognized Merchants …
Merchants Bank Equipment Finance Recognized for 30 Years of Membership in the Equipment Leasing and Finance Association
The Equipment Leasing and Finance Association (ELFA) has recognized Merchants Bank Equipment Finance (MBEF) for 30 years of membership in the organization. ELFA is the premiere trade association representing companies in the nearly $1 trillion equipment finance sector.
“We are proud to be recognized for our 30 years of membership in ELFA, said Rick Barry, President of Merchants Bank Equipment Finance. As a division of a regional community bank, we are committed to delivering equipment financing solutions tailored to the needs of our clients across the country and that has been strengthened by our active involvement in ELFA. From serving on committees to being involved in shaping legislation, we work together as an advocate for clients and the industry. We take pride in helping grow “Main Street” and ELFA has been a tremendous resource.”
As a member of ELFA, Merchants Bank Equipment Finance joins forces with other leading companies in the equipment finance sector. ELFA members are the driving force behind the growth in the commercial equipment finance market and contribute to capital formation across the U.S. The association’s 575 members include independent and captive leasing and finance companies, banks, financial services corporations, broker/packagers and investment banks, as well as manufacturers and service providers. ELFA exists to provide member companies a platform to promote and advocate for the industry, including attracting and developing new and diverse talent; a forum for professional development and training; and a resource that develops information about, and for, the industry. ELFA President and CEO Ralph Petta congratulated Merchants Bank Equipment Finance on achieving 30 years of membership and thanked the company for its participation in and many contributions to the association and industry.
“Since its founding in 1961, ELFA has united the equipment finance industry under one umbrella to learn, do business and advocate for equipment finance and its important role in the U.S. economy,” said Petta. “Over the years, member companies have evolved and innovated to meet changing customer needs. This speaks to the strength and resilience of our industry as it equips American businesses to succeed and prosper. We congratulate all the companies celebrating milestone membership anniversaries in 2021, which also happens to be ELFA’s 60th anniversary.”
About Merchants Bank Equipment Finance MBEF, located in Edina, MN, provides equipment financing and lease options to businesses throughout the U.S. MBEF finances tangible assets over terms of 2 to 7 years on equipment with values generally ranging from $50,000 to over $10 million in many industries, including construction, transportation, healthcare, manufacturing, food and agriculture.
Merchants Financial Group, Inc. (MFGI), the parent company for MBEF, which also owns Merchants Bank, a full-service community bank with 23 bank locations in southeastern Minnesota and west-central Wisconsin, has more than $2.5 billion in assets and is one of the largest independent financial organizations in the region. Merchants was founded in 1875. Member FDIC.