Loans Against Equipment In Construction Are Booming
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VMI LLC, a nationwide asset-based funding source that provides flexible loan solutions for businesses with heavy equipment that is pledged as collateral, has just announced that it generated over $5 million in approvals during 2012. The final two quarters were especially strong for the company, which offers working capital loans as well as other loan services to its clients.
As the construction industry continues to gain strength, VMI LLC is anticipating an even larger year in 2013.
?We are incredibly optimistic about this upcoming year as traditional lenders aren?t lending but we are,? said Skylar Marshall, Communications Specialist from the equipment loan company, adding that since the loans are not credit-based, the staff at VMI LLC can work with clients whose credit scores are low.
?Traditional lenders have abandoned the commercial construction industry, but we are ready to provide construction companies with the working capital they need.?
As noted on the company?s website, one of the main reasons why businesses fail is due to undercapitalization. By working with VMI LLC and securing a loan against equipment, companies can get much-needed funding. Through the company?s construction equipment financing program, businesses can often secure equipment loans ranging from $10,000 up to $250,000. The company offers its equipment sale leaseback program to a variety of industries, including excavation, grading, demolition, paving, wrecking, hauling, and many more.
VMI LLC will typically finance heavy equipment of all varieties, including tractors, loaders, graders, excavators, cranes, and dump trucks. These often include well-known brands like Caterpillar, John Deere, Case, Komatsu, Hitachi, Kenworth and Peterbilt.
There are two main benefits to arranging for this type of business loan. First, by refinancing construction equipment, the business gets an inflow of cash that can be used for any business purpose they wish, including working capital, purchasing supplies, paying subcontractors or starting and completing projects.
Also, with the type of construction equipment refinance that is offered by VMI LLC, the equipment stays with the business so their projects can still be completed on time. There is no transfer of the equipment so there is no disturbance with the business, which is good news for both the company and its clients.
About VMI LLC:
VMI LLC provides secured construction equipment financing for companies that need working capital. Construction equipment funding is available for tractors, excavators, bulldozers, loaders, graders, scrapers, dump trucks, cranes, forklifts, backhoes, steers and other heavy equipment. Working capital loans are approved based on the equipment, not credit. For more information, please visit http://www.financeheavyequipment.com
Read the full story at SOURCE: http://www.prweb.com/releases/2013/1/prweb10341306.htm
Source: http://www.worldleasingnews.com/news/loans-against-equipment-in-construction-are-booming/
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