Last week Heavy Vehicle Finance settled a large deal relating to a Stacking Machine for a mining company situated in Central Queensland. Please see below particulars surrounding this transaction.
Funding Scenario
After searching mining equipment finance on Google, a newly formed mining company contacted us with respect to financing a Radial Stacking Machine. Client had said to one of our Analysts that they were having troubles funding this particular piece of Mining Equipment, based on the specialised nature of the goods.
Equipment – Radial Stacking Machine
New start mining company with no trading figures
Equity in equipment – no
Directors asset backed – yes
Outcome
Cash flow projection provided by clients internal Accountant
Finance approval sought for the full purchase price by way of rental agreement
Client was able to preserve cash flow by borrowing 100% of the purchase price
Heavy Vehicle Finance was able to fund this specialised piece of Mining Equipment, based on the fact we have an extensive understanding of Mining Equipment and the Mining Equipment Industry. As a result, we were able to structure a submission that guaranteed an approval for this particular client.
We would encourage any other Mining Companies or Mining related Companies, to contact one of our Specialist Finance Consultants on 1300 788 740 to discuss any funding scenarios relating to Mining Equipment Finance. We also encourage these same companies to follow us on Face book (Heavy Vehicle Finance) to keep updated as to other Mining related finance deals that we have facilitated.
