Rental option helps safety equipment company

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More unusual equipment isn't always funded by the banks even for well established successful companies

Expand with a new major global contract

A well-established Western Australian company that supplies and maintains a wide variety of rigging equipment and safety testing to engineering, construction and transport industries, recently needed to quickly acquire a wide range of new safety equipment. This was to fulfil their newly won contract by offering rental of this equipment for 6 months. The company had various loans with major banks but safety equipment can be tricky to fund.

 

Classic Solution

  • Unlike major lenders, Classic was happy to lend on these more unusual assets
  • An Equipment Finance facility was used to purchase over $100,000 of new safety rigging and gear from a wide range of suppliers
  • The finance was set up over 24 months to run beyond the new contract
  • This meant that the growth could be comfortably funded and enable further new contracts to be sought

 

If you or your clients have safety equipment needs, get in contact with Classic today