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Story: A trucking company owner dreamed of expanding his business and wanted to take it to new heights, one asset at a time. The aim was to increase revenue with equipment leaseback and then he would be able to live a life he imagined. His trucking company could move larger goods within and across the country. As a result, his business could edge out his competitors.
The desire to live the dream
With revenue increase, he was then able to send his daughter to a prestigious college. He could also hire additional employees to help out. This would give him the freedom to spend time with his family. It would also allow him to donate his earnings to charity. After all, he wanted to make the world a better place.
In other words, he wanted to live the American dream to the fullest. All of this was possible if he could get a single asset. To make this a reality, he needed to spend large sums of cash. However, this was beyond his financial abilities.
He then started looking for lenders, who could provide sale or equipment leaseback.
The customer gets a lucky break
He at last came across the perfect lender upon searching for several weeks. The loaner allowed him to invest in a single asset sale-leaseback without collateral. He could then invest in a $119,000 semi-trailer truck. He contributed 50% of the funding amount. It decreased the net capital the lender had to provide to the business. On top of that, it also decreased the payments. When the equipment leaseback ends, he is in the clear. The lender also added the deposit to the purchase option, making life easy.
Customer: Owner of Trucking Company
Credit Score: 600
Funding Amount: $119,000
Leased Assets: Semi-trailer truck
Additional Collateral: $59,500