Energy, Oil and Gas
The challenges of this transaction included highly specialized equipment in a limited commercial space, with limited resale value. Further, the vendor of the equipment would require progress funding over a 12 month period during the construction and final installation of the property. We were tasked with progress funding the equipment with no underlying collateral in the transaction and the customer's financial outlook changed shortly after the initial lease proposal was signed. In the end, we were able to provide a financing solution to the customer that included all related shipping and installation costs, financing the equipment and helping the company grow its business.