Borrowing Against Construction Equipment Provides A Working Capital Alternative
VMI LLC offers an application only program in which construction companies can get working capital by using their free and clear equipment as collateral to secure a working capital loan. Borrowing against construction equipment is an alternative to traditional lending.
Small business owners have suffered a great deal in this economy. One industry that has been hit the hardest is construction. Money has always been tight, but since the collapse of the economy in 2008, construction companies have been unable to obtain working capital.
Even as the economy starts to slowly recover, construction companies continue to have difficulty getting approved for traditional loans.
However, there is a solution. VMI LLC, a California based company, offers a unique program specifically for construction companies. They provide loans against construction equipment.
Under the program, construction companies can borrow against their construction equipment that is owned free and clear. The construction equipment is used as collateral to secure the working capital loan.
One of the best parts of this program is that it is an application only program. This means, that in order to qualify, all that is required is a completed one page application. A decision can be made within one business day.
Another advantage of this program is that funding occurs in a matter of days. This is crucial because unlike most small businesses, construction companies must complete the work first and then wait months to be compensated.
The working capital can be used however the construction company sees fit -- so there are no draw down schedules which are usually the case when loans are extended in the construction industry.
Borrowing against construction equipment provides a simple, fast and unfettered solution to construction companies that need working capital immediately.
According to the website, www.FinanceHeavyEquipment.com, VMI works with all credit types. Approvals are received within one business day and funding occurs within days. Loans range from $25,000 up to $250,000 based on a one page application.
Construction equipment funding is available for tractors, excavators, bulldozers, loaders, graders, scrapers, dump trucks, cranes, forklifts, backhoes, steers and other heavy equipment. Some of the manufacturers they accept are John Deere, Caterpillar, Komatsu, Volvo, Hitachi, Case, Peterbilt, Kenworth.
For more information on borrowing against construction equipment, visit www.FinanceHeavyEquipment.com or call 1-888-838-1945.
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- Contact Information
- Skylar Marshall
- Communications Specialist
- VMI LLC
- Contact via E-mail
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