The Customer
Precast Concrete Contractor
The Challenge
- The client was an extremely good credit with healthy cash flow and virtually no debt.
- They wanted to finance 5 cement trucks with the priority being the lowest possible interest rate.
- They had numerous other finance companies vying for their business due to strong credit
Done Deal.
- First National Capital presented a term sheet with options for security deposits of 20% and 30% as down payments to reduce the interest rate – a major priority – as well as options for both 36-month and 60-month term lengths, which allowed the client to effect the total interest paid over the life of the loan.
- The use of a large security deposit, by bringing about an early payoff of the loan, showed the deal as having a low rate.
