Client Success Story – Manfacturing (Secured Loan/Line of Credit)
Our client was looking to purchase a $616,000 CNC Machine to benefit their business operations.
If the asset purchase was successful, the client would make a substantial long-term saving in their business operations, as previously, they had been outsourcing the metal fabrication component.
When looking to obtain funds for the machine, the lender required a 15% deposit for the asset. Unfortunately the client did not have the funds for the deposit, so a creative solution was required to overcome this hurdle.
Our solution was to secure the client a $100,000 line of credit to fund the deposit instead. As
Using cashflow lending in conjunction with asset financing is something we do often for our commercial clients. Frequently, this solution is critical to the business operations of the client.
Other aspects of this deal were:
- 5-day turnaround time
- $523,600 Secured Loan for the asset in addition to the Line of Credit
- Secured loan term: 60-months