For more than 40 years, U.S. Bank has played a pivotal role in financing office technology dealers, helping them expand their businesses and navigate the complexities of an evolving landscape. Leading this effort is Tina Eickhoff, head of equipment finance at U.S. Bank.
Eickhoff, promoted to her current position in June 2024, has been with U.S. Bank for 25 years, starting when the bank acquired Lyon Financial Services, where she was a project analyst. What started as an unplanned career move after studying accounting in college has become an asset for her employers, colleagues, and clients in various industries. In her new role, Eickhoff oversees all business units and support functions within U.S. Bank’s equipment finance division.
Eickhoff brings a fresh perspective to her role and the channel. “My goal is to support our different lines of businesses to help them grow and be successful now and into the future and be a more meaningful piece of our overall U.S. Bank proposition,” she said. “What I like about office equipment is it spans the spectrum of all types of businesses and industries across the U.S.”
A Relationship-based Approach to Financing
U.S. Bank takes a relationship-driven approach to equipment financing, recognizing that strong partnerships are key to dealer and manufacturer success. “Our dealer network is a crucial component of our business, and we prioritize staying closely connected with them,” said Eickhoff. “We don’t just provide financing; we collaborate with our partners to understand industry trends and anticipate their needs.”
Eickhoff emphasized how office equipment is crucial to U.S. Bank’s overall business: “It’s a key player on our balance sheet, and it’s key from a profitability perspective.” She highlighted the importance of maintaining a knowledgeable sales force that stays ahead of industry changes. “Our deep industry expertise and close connections with dealers, manufacturers, and clients allow us to anticipate trends and proactively develop solutions,” she emphasized.
She added that while many business challenges are universal, the office technology sector has faced unique disruptions in recent years, including rapid technological shifts, declines in print volumes, and, of course, the COVID-19 pandemic. The latter reshaped how businesses operate, with remote work shifting the demand for office equipment with many businesses not upgrading their equipment as frequently as in the past. Meanwhile, Eickhoff and her U.S. Bank colleagues closely monitor these disruptions and emerging trends.
During the past few years, new needs have emerged as some employees return to the office while other businesses consolidate office space. At the same time, just like the dealer channel, the leasing industry is adapting to reduced print volumes and a greater emphasis on digital solutions. “Our dealers must continue to innovate, and we need to be there with them, ensuring they have the right financial tools,” said Eickhoff.
Adapting to Market and Economic Changes
As economic uncertainties fluctuate, Eickhoff and her team are focused on helping dealers navigate shifts in the regulatory and financial landscape. “There’s always something impacting the market—whether it’s inflation, interest rates, or tariffs,” she said. “Our role is to ensure dealers have the financial flexibility to adapt to these challenges.”
She notes that tariffs, for instance, can influence equipment costs and financing decisions. “It does come into play because we think about how tariffs might impact inflation and the cost of equipment. Sometimes, that can work in our favor, too, from a financing perspective. If the cost increases, it might be more viable for a business to lease versus pay cash, for example.”
She sees opportunities in financing office technology dealers’ expanding product lines and offerings, with more digitization, automation, and incorporation of AI functionality. “Dealers are evolving their offerings, and we must evolve the financing solution to support their strategies,” said Eickhoff.
U.S. Bank also is monitoring how e-commerce is being adapted in the channel, specifically how it can effectively work with dealers exploring that model and the value it would provide to U.S. Bank and its dealer clients.
“High on the list of dealer needs is automation capabilities—the need and ability to do things more efficiently and quicker for their end-user customers,” added Eickhoff. “Our ability to innovate with new solutions will be key to our future success as well. We’re exploring new technologies, financial models, and ways to make our financing solutions more efficient and accessible.”
Examples include enhancements and upgrades to U.S. Bank’s online portals, including the ability to provide APIs between the leasing company and the dealer for greater efficiencies. These enhancements allow U.S. Bank to streamline business operations and improve the customer experience.
Another area of interest, and perhaps opportunity, is artificial intelligence. “We’re using AI very minimally at the moment, but it’s an area that is high on the radar as far as how we incorporate that to make our processes more efficient,” revealed Eickhoff. “There’s still a lot to explore, but it’s something we’re watching closely.”
Looking Ahead
When asked about her expectations for U.S. Bank’s equipment finance division in 2025, Eickhoff expressed optimism, anticipating that economic uncertainties will stabilize, paving the way for a strong year for the company and its dealer clients. She also underscored U.S. Bank’s dedication to growth and continuous innovation. “Our number one goal is helping our clients grow,” she said. “If they succeed, we succeed.”
