Meridian Leasing has added a new range of services to its offerings in the equipment financing industry.
The new TrueFlex Finance line aims to provide complete flexibility to organizations of all sizes and industries, allowing customers to customize their equipment financing and acquisition strategies to suit their specific needs, Meridian said in a Thursday (Nov. 2) press release.
The six distinct products under TrueFlex Finance cater to different financing models, allowing organizations to tailor their approach accordingly, according to the release.
The options include fair market value operating leases, financing solutions based on usage, simplified capital leases with the option to purchase, and short- and long-term rentals, the release said. Meridian also offers asset tracking.
With each product, TrueFlex Finance offers unified billing, simplified administrative operations and Meridian’s expertise, per the release.
This family of financial services is designed to be transparent and robust, helping customers navigate an equipment financing process that can be confusing and complicated, Steve Zogg, president of Meridian Leasing, said in the release.
“Every product in this line offers unprecedented flexibility and clarity in the way our customers can approach getting the equipment they need, when they need it, and within budget,” Zogg said.
One customer that has used TrueFlex Finance is Irving Specialists Surgical Center (ISSC), according to the release. Facing the challenge of high costs with traditional banking partners, ISSC turned to TrueFlex Finance and preserved cash flow while acquiring necessary equipment.
Nathan Cumbie, president at ISSC, said in the release that “Meridian’s TrueFlex Finance has made the equipment acquisition process seamless.”
In an earlier development in this sector, Gibraltar Business Capital (GBC) launched an equipment financing business in March, saying it would focus on opportunities around growth, asset modernization and special situations and provide term financing solutions that complement GBC’s asset-based lending products.
GBC said at the time that the new Gibraltar Equipment Finance (GEF) would provide equipment loans and leases of up to $20 million for industries like manufacturing, distribution, transportation/logistics, healthcare, food and beverage, construction, telecom and technology-related sectors. The business also aims to provide flexible equipment financing solutions.