Construction Equipment Financing Provides Working Capital For Construction Companies
Construction companies use their free and clear equipment as collateral to get a working capital loan. VMI LLC offers working capital loans ranging from $25,000 up to $250,000.
As the economy starts to bounce back, both private and public construction projects have started to pick up. As a result, construction companies need working capital to fulfill the projects, hire workers and purchase supplies.
Traditional lending is not an option for construction companies because of strict credit requirements and a lengthy underwriting process.
However, there is an alternative. VMI LLC offers working capital loans using construction equipment as collateral. All that is required is a completed one page application and a description of the equipment to be used as collateral. Approvals are granted in one business day. Loans range from $25,000 up to $250,000.
Construction equipment financing is available for tractors, excavators, bulldozers, loaders, graders, scrapers, dump trucks, cranes, forklifts, backhoes, steers and other heavy equipment.
Unlike traditional bank loans, this working capital loan is not based on credit -- it’s based on the value of the collateral used to secure the loan.
There are many advantages to getting a loan against construction equipment.
Getting a loan against free and clear equipment allows business owners to do three things:
- Unlock equity - A collateral loan allows a construction company to pull out the equity in the equipment and use it as working capital
- Increase cash flow - Refinancing construction equipment allows a construction company to increase cash flow by preserving cash on hand
- Preserve capital - Construction equipment financing gives a company flexibility by not having to tap into an existing revolving line of credit
Skylar Marshall, Communications Specialist for VMI LLC, states “We provide creative solutions to put working capital in the hands of growing construction, excavation and trucking companies. We offer customized financial solutions focused on providing businesses with the best heavy equipment financing programs available anywhere. Our rates are competitive and fair.”
To find out more about working capital loans using construction equipment as collateral, go to www.FinanceHeavyEquipment.com or call toll free at 1-888-838-1945.
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- Contact Information
- Skylar Marshall
- Communications Specialist
- VMI LLC
- Contact via E-mail
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