Case Studies Funding $192M
$3.5 Million for Power Plant
A West Virginia coal-fired power plant re-engineered its furnace. Still, political pressure against coal-fired energy made it nearly impossible for the company to secure financing, as banks refused to engage in discussions. Despite the challenges, we secured a 48-month lease for the new unit, enabling the plant to continue supplying power to its local customers.
$5 Million for Drilling Rigs
A Colorado-based gas company purchased five used “workover” drilling rigs at auction and needed a 60-month lease to finance the equipment. They faced significant challenges, including lender bias against the oil and gas industry and concerns about the age of the equipment—some rigs were 25 years old, others 10, and a few less than five years old. No traditional bank was willing to accept collateral of this age.
We secured the funding and provided a lease that strengthened the company’s cash flow and offered them leverage. Despite the obstacles, we completed the deal.
$6.5 Million Komatsu Dump Trucks
An Ohio-based open-pit coal mine purchased four used Komatsu 100-ton dump trucks at auction but faced lender resistance due to the industry and the equipment’s age. We secured approval for financing, helping the company recoup its cash position and move forward with operations.
$17 Million for Insurance Non-Admitted Assets
A Pennsylvania Property and Casualty Insurance company needed to convert non-admitted assets into surplus. We provided approval that was aligned with their SAP, GAAP, and state regulatory requirements. This transaction involved selling and leasing their proprietary electronic data processing (EDP) software, giving the company financial flexibility.
$20 Million for Greenhouse System
A Canadian-based company expanding its vegetable-growing operations in Nevada and California sought to purchase a new hydroponic greenhouse system to move all their cultivation indoors. At the time, the modified technology was untested, making FDIC banks hesitant to provide financing. The company’s shift to a new growing method and business model also caused further uncertainty among traditional lenders. We stepped in and provided a 60-month lease approval for collateral considered “unproven” by the banking sector.
$40 Million for Automation Equipment
An Idaho-based technology company sought a $40 million, 36-month lease to finance new automation equipment manufacturing cell phone casings. Their auditor mandated a specific lease rate, and the company needed their vendors paid within a tight three-week window. Traditional banks couldn’t accommodate the timeline or the required lease rate factor, leaving the company with limited options.
We stepped in, providing swift approval, completing the necessary documentation, and delivering the funds well before the critical deadline. Thanks to our efficient process, the company avoided delays and kept its project on track.
$100 Million Guidewire Sale and Leaseback
An Ohio-based company operating across six eastern states implemented a company-wide Guidewire software installation, marking the first time all six states operated on the same platform. However, the client faced a perfect storm of challenges: significant cost overruns and the impact of extreme natural disasters, which strained their surplus. Inflation only added to the pressure.
To help them navigate these challenges, I structured a 60-month lease worth $100MM, featuring interest-only payments for the first year and step-up payments for the following three years. This unique financial solution allowed the company to strengthen its surplus, maintain low initial costs, support its clients, and complete the installation of its preferred software system.