| 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 2 ½ 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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