At Merchants Bank Equipment Finance, our team partners with businesses to create smarter commercial equipment lease and finance options. Our success is the result of serving our customers today and establishing long-term, mutually beneficial relationships for the future. We believe that we are more than an equipment finance company. Our objective is to become an ongoing part of the growth and profitability of our clients' businesses.
We know the value of equipment lease financing and can articulate the benefits it can provide for your business. While based in Minneapolis, Merchants Bank Equipment Finance provides leasing options to primarily businesses located throughout the central U.S. However, we will consider partnerships outside of this footprint for companies with strong credit profiles. We generally finance tangible assets over terms of 2 to 10 years, on equipment with values ranging from $50,000 to over $10 million.
Merchants Financial Group (MFGI) is the parent company for Merchants Bank Equipment Finance. With total assets exceeding $1.6 billion, MFGI is among the largest independent financial organizations in our region. We are proud to be owned by our employees through our Employee Stock Ownership Program (ESOP) and approximately 760 individuals and families mostly from communities in southeastern Minnesota and west-central Wisconsin.