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Pitney Bowes Financial Services Signs Term Loan and Revolving LOC with Zion Delivery Service

February 10, 2022, 07:50 AM
Filed Under: Specialty Industries

Pitney Bowes Inc., a global shipping and mailing company that provides technology, logistics and financial services, announced the Pitney Bowes Bank has signed a term loan and accompanying revolving line of credit with Zion Delivery Service, Inc (ZDS) of Long Beach, CA. ZDS specializes in Last Mile Delivery support for large national and regional carriers in Los Angeles County, Orange County and other markets across Southern California. The credit facility from Pitney Bowes provides ZDS the working capital, liquidity and flexibility required to generate sustained growth.

Founded in 2004, ZDS operates alongside ZDS Express Couriers, Inc, which runs 10-12 FedEx routes with contracted drivers. Both organizations – 100 percent-owned by ZDS founder and President Jeremy Pippen – are experiencing high demand which is fueling organic growth and driving plans for acquisition.

“Carriers such as Amazon Logistics, DHL and USPS rely on ZDS for last mile support, and the past year has seen increasing pressure on our business following the surge in ecommerce,” said Jeremy Pippen, President, ZDS. “We needed to invest to grow but were disadvantaged by expensive long-term debt and a lack of flexibility in our lending. The team at Pitney Bowes was helpful, responsive and knowledgeable. They offered a choice of flexible, affordable options which suit the business perfectly. We’re now in a strong position to build momentum and take our business to the next level.”

“We continue to build out our product portfolio to meet the growing needs of Main Street businesses, the backbone of our economy,” said Christopher Johnson, Senior Vice President and President, Pitney Bowes Financial Services and Board member of the Bank. “We are pleased to support ZDS, through our deep expertise in the shipping and logistics industry. This deal embodies our strategy to continue to grow with companies like ZDS that are well poised in this rapidly expanding market segment.”

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