Commercial Funding Partners (CFP) secured a $900,000 transaction for equipment needed by a Midwest construction startup. Though the construction company had promising forecasts, traditional lending was not a viable option.
The ingenuitive piece of equipment creates metal studs using extruded metal. Once loaded with software, the machine cuts all the raw material needed to build an entire home.
Brought to CFP by a broker, the transaction was championed by CFP Vice President Buddy Zarbock. “We had some unique challenges because the company was new,” said Zarbock.
CFP went with a sale and leaseback to secure the funding, paying cash for the company’s existing equipment. This freed up working capital for them, then allowed them to negotiate a lease on the same equipment.
CFP is pleased to have been able secure the funding. “Our ops team really came through,” Zarbock concluded.
