Greg Rasmussen, controller for Merchants Bank Equipment Finance (MBEF), has been promoted to an officer with MBEF, according to Richard Barry, president of MBEF.
“Greg is an integral part of the ongoing review of our financial performance and charting the course for our future,” Barry said. “His skill and insight have contributed greatly to our growth.” In addition, to his duties as controller, Rasmussen supports the MBEF sales and portfolio management team in pricing, software support and detailed reporting. “MBEF is an important part of our entire organization in that it provides a viable leasing alternative for customers,” Rasmussen said. “It’s been great to be a part of it as we’ve grown and helped our customers.”
MBEF’s primary sales office is in Minneapolis.
Rasmussen’s office is in Winona, within the team at Merchants Financial Group, Inc., (MFGI), MBEF’s parent company, and Merchants Bank. Rasmussen has been very active running the transportation and pick-up for Merchants Bank’s 10 Days of Giving food drive that supports the food shelf at Winona Volunteer Services.
Rasmussen is a native of River Falls, Wis., and is a graduate of Winona State University. He joined MBEF in 2000, and was one of six employees. Today, MBEF has 12 employees and has continued to make a significant impact to MFGI’s bottom line. MBEF primarily provides equipment lease and loan financing options to businesses located throughout the central U.S. and also partners with other finance companies in equipment finance transactions outside its marketing footprint. MBEF finances tangible assets over terms of two to 10 years on equipment with values generally ranging from $50,000 to over $10 million. MBEF serves many industries, including construction, transportation, health care, manufacturing, food and agriculture.
MFGI, the parent company for MBEF, owns 21 Merchants Bank locations in Minnesota and Wisconsin, has more than $1.6 billion in assets and is one of the largest independent financial organizations in its region.