The company needed to purchase seven new pieces of equipment from four different vendors and receive working capital for facility improvements. They also needed to find a finance company that understood their industry and was willing to consolidate all of the new equipment purchases and working capital into one monthly payment.
This company desired to finance 7 pieces of new equipment from 4 vendors, payoff 2 existing loans and be reimbursed for the $20,000 that they had already put down as a deposit on the new machines. They were also in the process of selecting accessories for these machines and identifying the needed facilities improvements but did not have enough working capital available.
The total amount needed to refinance the existing equipment, purchase new machines and obtain working capital was $700,000. Manufacturers Capital had a strong relationship with this customer and was able to assist them through this highly complex transaction.
Manufacturers Capital was able to work with the customer to structure equipment financing to accomplish the company’s goals. The company was able to acquire the new equipment, consolidate their existing loans and receive the necessary working capital. The customer now has a single loan payment on terms that enabled them to expand their business and manage their cash flow. This otherwise complex transaction was closed as a result of partnering with a finance company that understood the company’s business and the equipment they operated.
The complete transaction included: