WHO: A Colorado based Engineering Firm (Customer)
WHEN: Second Quarter of 2021
WHERE: Colorado Springs, Colorado
WHAT: The Engineering Firm was moving their headquarters to a new location and working with a local office furniture Dealer for the new furniture purchase of approximately $600K. The Engineering Firm was looking to utilize financing so they could preserve their existing bank lines for upcoming capital-intensive projects they had in the pipeline. The Customer knew that finding financing was going to be a bit of a challenge because there was a recent ownership change and there was a considerable amount of debt on their balance sheet from the buyout of the former owner. The Dealer introduced Americor Capital to their Customer to assist in putting a financing solution together that worked for the Engineering Firm.
WHY: Seeking alternative financing to purchase the office furniture would allow the Customer to preserve their current bank lines to fuel the growth of a new product line they are rolling out.
HOW: Americor Capital’s ‘multiple-funding source’ approach allowed flexibility in lining up a lender that liked the Engineering Firm’s story and was open to approving a leasing solution that worked for all parties.
SUMMARY: The Dealer was able to close a sizeable sale that would have been difficult without utilizing financing. The Customer was thrilled with the outcome of the project that their dealer was able to deliver and that they were able to stay on track with the timelines associated with the site move.