| OUR HISTORY |
Strength,
Reliability, Trust
Originally founded in 1978 as Matrix Computer Funding, our 28-year
history showcases our depth and breadth of experience and longstanding
commitment to niche markets and superior client relationships.
Prior to 1986, Matrix Computer's primary business was the buying
and selling of tax advantaged lease investments for wealthy
individuals. Subsequent to the Tax Reform Act of 1986, the then
Matrix Funding Corporation became one of the nation's leading
suppliers of lease products to the community bank network. In
1993, as the credit worthiness of brokered leases began to soften,
Matrix Funding changed directions and began originating leases
for its own portfolio using a unique TeleSales approach. On
May 20, 1998, the shareholders of Matrix Funding sold the company
to UniCapital Corporation via a NYSE Initial Public Offering.
During the 2½ years Matrix operated under the UniCapital umbrella,
annual fundings increased from $40 million to $150 million,
assets increased from $60 million to nearly $200 million, and
the total employee count increased from 39 to 105. Falling victim
to an aggressive acquisition strategy, UniCapital Corporation
ceased originating new business in September 2000 and, subsequently,
filed for bankruptcy protection.
In November 2000, the original selling shareholders conveyed
management of the Matrix Portfolio to the bankruptcy Trustee,
left Matrix altogether, and founded, on a de novo basis, Applied
Financial. Shortly thereafter, Applied Financial forged an association
with Republic Bank, inked a significant warehouse facility with
Wells Fargo Bank, and hired 29 employees from UniCapital and
Matrix, setting the stage for another opportunity to scale the
middle-market TeleSales model. In 2005, The Monitor magazine
recognized Applied Financial as one of the top 100 leasing companies
in America as total assets had grown to $135 million and annual
lease originations were approaching $80 million. On July 31,
2006, Marquette Financial Companies, a privately held financial
services company with about $2.8 billion in assets and equity
capital of over $400 million, citing "an impressive track record
of strong growth together with an excellent management team,
staff and customer base" acquired Applied Financial through
its subsidiary, Meridian Bank, N.A. for an undisclosed amount.
On September 15, 2006 to further align itself with the guiding
principles and common values of the new parent company, we officially
changed our name to Marquette Equipment Finance, a subsidiary
of Meridian Bank, N.A.
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