Merrimak Capital Company President and CEO Mary Kariotis reported that the company’s new business volume has increased more than 50% since last year. The dramatic spike in business is primarily a result of the lessor’s heightened focus on Fortune 500 companies that produce essential consumer products. The most significant area of expansion has been financing and asset management services for materials handling equipment.
Many of Merrimak Capital’s new investment grade clients were attracted to competitive rates, but also to the fact that the company is woman-owned. As a result, Merrimak can meet vendor diversity compliance requirements, Kariotis said.
Merrimak Capital is certified by the Women’s Business Enterprise National Council (WBENC).
While the independent finance company has its roots in information technology leasing, Merrimak has expanded since 1991 into a full-service lessor with expertise in an array of manufacturing and transportation niches. Merrimak also has further developed resources and capabilities to provide global enterprise financing and related services.
“Our asset tracking system – built internally – can be loaded onto our customers’ servers. It gives them complete autonomy to manage all of their leases and track equipment with customization precisely tailored to their needs,” Kariotis said.
Merrimak is continuing to expand internally and has recently announced plans to hire additional account managers and administrators for business development and customer care.
“This has been a pivotal year for us and for our clients,” said Kariotis, who expects that many large American corporations will continue to find growth opportunities beyond U.S. borders. “Our clients need financing partners with sustainable business models, transparent processes, and the flexibility to adjust for their growth.” Merrimak already supports global market currencies at origination stage and manages equipment remarketing overseas.
Merrimak serves equipment leasing and asset finance needs of public and private companies worldwide, spanning many growth industries. Women’s Business Enterprise certification makes it possible for customers to qualify for Tier One Diversity Spend Credit.