Civil contracting company raises $800,000 using Sale-Back
Raising funds from existing equipment
A well-established civil contracting company needed to raise $500,000 to meet development costs associated with a land subdivision.The company had a 2003 Dozer & four 2008 Dump Trucks with a combined Auction Valuation of approx. $800,000, which were under finance with another lender, with a $300,000 payout figure.
- Required funds raised through sale-back of existing equipment
- $800,000 Secured Loan facility (Chattel Mortgage)
- Repayments structured over a 5 year term
- 8 day turnaround including approval, documentation, equipment inspections and settlement.