Huntington Beach, CA: A demolition contractor needed to purchase some additional excavators for a recently awarded job in West Los Angeles. The contract was awarded and the City wanted them to start within three weeks. This deadline placed enormous pressure on the contractor to perform. If the asset based equipment loan was not secured in time, he could have lost the 4.8MM contract to another supplier.
Huntington Coast Capital explored a number of asset based loan options for the client. Including an asset based real estate loan secured against his personal residence. In the end, we were able to secure an equipment loan using only the excavators as the collateral. A master lease was arranged with the ability to amend the lease with new equipment lease schedules as needed going forward.
If your company is looking for an asset based equipment loan, give us a call 714-719-8966.
To your success!
Patrick Zazueta | Founder
Huntington Coast Capital, Inc.