February 7, 2012: Financed a $38,000 Isuzu Truck with Tymco Street Sweeper

We value or past and current lessees, so much so that when we get an opportunity to finance more equipment it’s almost a harder sell to convince us to pass on a transaction. This customer has excellent cash flow and near-perfect credit but, despite the many alternative lenders that would happily issue them an approval, has consistently chosen to finance their purchases through our company. This transaction epitomized the reasons why. The vendor, concerned about tax issues, refused to issue an invoice without tax despite acknowledging the customer’s tax exempt status. Most lenders would have put it on the customer’s back to obtain a correct invoice, but we don’t do business that way. One of our reps stepped right into the middle of the transaction and we were able to accept an invoice sold directly to us (since we operate in a State without sales tax). In the end, the customer got their new sweeper truck with as little headache as possible.

February 2, 2012: Financed a $17,000 Peterbilt 379 Truck

Approving a customer with bad credit is almost never considered, but we have made it our mission to help those with fair or no credit, but who show genuine promise in their business. This customer’s credit issues have never stood in the way of an approval because they have been so diligent in repaying their other accounts with us. Despite having a large amount out with them, we were able to add some additional guarantors and overlook the credit difficulties. Like we told our customer, “In our book, you do have good credit.” It helps to know your customer and have a comfort level, and for that reason, we were there for this customer when they needed to quickly replace a decommissioned truck.

September 9, 2011: Financed a $25,000 Timbco Feller Buncher and Valmet Processor Head

The logging industry has been hit harder than most others. Banks that will lend on any equipment–let alone equipment more than ten years old (as was this case in this transaction)–are nearly impossible to find. This customer was venturing into timber clearing to bolster his current development contractor operation. Unlike many lenders who restrict certain industries and equipment types altogether, we treat each transaction as an individual decision. In the case of this customer, we were able to get his acquisition approved and fund the transaction with a day of receiving all signed paperwork.

August 2, 2011: Financed a $15,900 Peterbilt 379 Truck

This longtime customer needed to add a truck for local hauling, but was coming up short with many funding sources. Because of our longstanding relationship, we didn’t box them in with a maximum exposure ceiling. Instead, we evaluated this customer’s application in the context of the strength of their prior relationship with our company. When the transaction got sticky later on, we navigated a pre-funding issue to make sure the deal went smoothly for all parties involved.

June 30, 2011: Financed a $50,000 Kenworth Truck and KLine Trailer Combo

If you’ve ever heard the term ‘exposure’ referenced in lease transactions, this would have been one for the books. Most companies our size wouldn’t dream of lending more than a quarter of a million dollars to the same company in less than a year’s time. Because we value relationships, when our customer told us about the great deal we found, we gave it a good faith run. After securing our interest in some additional collateral and reviewing in-depth financials, we decided it was a good investment and made a transaction that would easily have been impossible almost anywhere else a reality.

June 3, 2011 : Financed a $25,000 Cat Crawler

An upcoming auction had a 1996 Caterpillar Crawler that caught this client’s eye–one he was almost certain would go for a good price. Unfortunately, the age of the equipment and uncertainty about the final sale price made it very difficult to secure financing. Faced with a great deal, he almost had to make a decision between his reserve cash and the equipment he really wanted to buy. When he got in touch with American Leasefund, all of that changed. We were quickly able to generate an auction approval letter to give him the peace of mind that he was covered to make his purchase. After placing the winning bid, we secured an invoice from the auction company and he was picking up his Crawler the same week.

May 27, 2011: Financed $22,000 in Industrial Restaurant Fixtures and Appliances

With fair credit and very short time in business, this client was having major trouble getting their new bar and pub project off the ground. Other lenders had declined them on face, despite the fact that they had collateral and an obvious ability to repay. Still another lender expressed a willingness to finance only the appliances, which would have left our client short of what they needed to execute their air tight business plan. Only American Leasefund was able to look past static credit criteria, and helped them fund the tables, chairs, and fixtures—as well as the industrial kitchen appliances they needed to get their business going.

May 15, 2011: Financed a $53,000 Linkbelt Excavator

This tree service company had great cash flow, but were faced with declines from our competitors due to credit issues. After attaining some comparable credit references, we realized that their problems with personal credit were isolated and unrelated to their management of the business. With some collateral, we were able to structure a transaction that met their needs as well as ours and get them the piece of equipment they needed to expand.

April 30, 2011: Financed a $117,000 Morbark Tub Grinder

This company had a lot of debt and poor credit, but had built up an impressive business and a solid rapport with American Leasefund. After having a tub grinder fail just a few months earlier, they found themselves in dire need of a replacement. By getting creative and cross-collateralizing this transaction, we were able to extend our relationship with them and finance a piece of equipment older than many of our competitors might have been willing to work with, but that met their unique needs. Using their sizeable cash flow as leverage, we structured the deal with some higher initial payments to help reduce the payment to a comfortable level for the duration of the lease.