Finance of Older Prime Mover and Low Loader Trailer
A construction business needed funding to acquire a Prime Mover and Low Loader Trailer, essential for transporting a Sumitomo Excavator between job sites. The client previously relied on external contractors for transportation, which resulted in high costs and limited control over scheduling.
The primary objectives were to reduce transportation expenses and gain better logistical control, along with diversifying income by offering transportation services during slow periods in civil construction.
To address these needs, flexible financing options were utilised, taking advantage of a policy matrix that accommodated the varying ages of the truck and trailer. The Low Documentation parameters allowed the customer to secure funding without requiring extensive financial statements or bank documents.
As a result of this tailored financial solution, the customer achieved improved operational efficiency and was able to explore new business opportunities. This strategic investment not only helped in reducing costs but also opened up an additional revenue stream.
KEY POINTS:
Increased logistical control
Mitigate third party contractors
Diversified clients income stream
Finance of older truck and trailer
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