The Customer
- Technology Company
Challenge
- A 2.5-year-old company needed to purchase a larger dredge to eliminate leasing.
- Preferred to preserve cash for expansion rather than commit capital to assets.
- No senior lender due to its niche oil & gas industry exposure.
Done Deal
- FNC structured a $10M equipment line of credit, reimbursing deposits and milestone payments.
- A $4.5M dredge purchase was fully financed, including setup costs.
- The financing allowed the company to scale operations rapidly.
