With a helping hand from Iron Capital, David Humbled from Stratton Finance recently secured a new Komatsu PC300LC that’s set to earn his client $1 million over the next two years.
Operating quietly in the Western corner of Australia for the past two and a half years, David’s client had just won a game changing new contract – all that was required was a new $350,000 excavator to fulfil contract obligations.
However, traditional financers had stopped the deal in its tracks. Without an overly strong financial record and historical servicing, David’s client could be forgiven for kicking dirt.
Applying a forward-thinking approach to look at the client’s forecasted earnings, and with a hot contract in hand, Iron Capital was able to get the deal signed, secured, and delivered.
“I’ve never had a happier client,” said David.
“Iron Capital took a holistic perspective when they assisted my client. Without previous lending history and a liquid asset position, they fell outside of the parameters of other lenders’ guidelines.
“The contract the client has won through this deal will earn them $1 million over two years, but without the support of Iron Capital, he’d still be providing the same services for a fraction of the income.
“The ability to build equity in the asset over the rental term is also hugely advantageous to the client, and undoubtedly a great benefit in the products that Iron Capital offers.
“Andrew and the team couldn’t have been more helpful in facilitating the deal and ensuring a smooth process,” said David.