Iron Capital recently helped Jake Anderson from a national equipment finance brokerage secure a Bobcat Skidsteer Loader for a client who had been left in the lurch due to COVID-19.
With a solid 20-year track record in business and numerous finance agreements completed over years of operation, it came as a shock to Jake’s client when their pre-approved finance for the loader was pulled by a big bank. They had recently lost a contract due to COVID-19, and the client was left without funds sitting ready for drawdown.
With new tenders under belt, and an understanding that the machine would generate income for the business, Jake turned to Iron Capital to get the machine on the ground for his client.
“Iron Capital were able to look past the impact COVID-19 had on one part of the business, and see numerous opportunities for the client with new tenders recently won”, said Jake.
“Iron Capital understood the client proactively deferred his repayment when the contract was lost, to allow the business time to tender for new work without negatively impacting cashflow.
“A quick application form with the required information resulted in approval in three hours, and provided the client with confidence to proceed with the machine that had taken 10 months to arrive in the country.
“As the broker, dealing with Iron Capital was easy – the team was very responsive and happy to workshop the deal from the first phone call.”