Funding second hand assets
When the bank was unable to assist, this civil contracting business looked elsewhere.
A civil contracting company based in Tasmania was looking to fund earth moving assets. One of the assets was over fifteen years old which meant finding funding was difficult. Their current lender was unable to assist due to the age of the asset as mainstream lenders, generally, won’t fund past fifteen years old.
One of the assets was also a private sale, which can also be tricky to fund through many lenders.
Classic Funding Group Solution
Classic funded both assets for the full invoice amount on a Secured Loan (Chattel Mortgage) over a 60 month term
Quick 8 day turnaround from application to settlement
Interested in funding solutions for older assets?