Merchants Capital Resources, Inc. has changed its name to Merchants Bank Equipment Finance as of January 1, according to President Bradley R. Brolsma.
“Our new name better describes what we do best, and that is financing the equipment needs of our customers,” Brolsma said of the company, founded in 1988.
Merchants Bank Equipment Finance primarily provides equipment financing options to businesses located throughout the central U.S. and also partners with other finance companies in equipment finance transactions outside of their marketing footprint. The company finances tangible assets over terms of 2 to 10 years, on equipment with values generally ranging from $50,000 to over $10 million.
Merchants Bank Equipment Finance tailors equipment financing options to best meet the needs of its customers across many industries, including construction, transportation, healthcare, manufacturing and food and agriculture. Brolsma pointed out the name change will not change the positive experience of current and prospective customers.
“Our same knowledgeable staff will be ready to help current and new customers with their equipment financing needs,” Brolsma said. “We’re looking forward to this next chapter in our growth.”
The name change also more closely aligns Merchants Bank Equipment Finance with the brand of its parent company, Merchants Bank, N.A., which is a business banking leader in southeastern Minnesota and west-central Wisconsin. Merchants Bank Equipment Finance will now operate as a division of the Merchants Bank parent organization, as opposed to a wholly owned subsidiary.
Merchants Bank was founded in 1875 in Winona, Minnesota, where it remains headquartered. Merchants Bank is a member FDIC and equal housing lender. Financing is subject to approval.