Lenders fund construction equipment sales and leaseback with a recent bankruptcy.
The customer filed a bankruptcy the previous year. However, the lender approved a sale and leaseback for just over $250,000.
Luckily, the client owns many assets. Secondly, the assets were free and clear. In addition, the process was quick.
Most banks will not lend with a recent bankruptcy filing. Luckily, our network lender completed it quickly.
The lender approved with three things:
- First, an application of information
- Provided a list of free and clear assets
- Finally, provided a list of clients.
This was a very quick funding. The deal only took 5 working days to approve. And on the 5th day, the vendor received payment.
In summary, recent bankruptcies do not preclude financing. Lenders in our network fund an equipment sale and leaseback with a recent bankruptcy.