Featured Project: Fleet Refresh Finance Plan

Reduce operational expense and win more business.

Client Situation:  Client sought to reduce maintenance expenses, establish confidence with a diverse team of operators, and win more business by establishing a fleet refresh financing plan. Fulfill the year’s capital expenditure budget and affirm a brand of safety and reliability in the marketplace.

EFFI Provided: EFFI fulfilled the entire capital expenditure budget for the year—approximately $8 million (70% of which was used for fleet refresh).

• This concrete pumping company’s CEO chose to sell and trade in all pumps exceeding five years in age, thus, requiring a financing need that was justified by the following:
  • Maintenance reduction from nearly $3 million per year to less than $250,000.00
  • Improved operator moral and attract the best operators
  • Increased commercial business with new, onsite fleet
• The new debt service was covered, in part, by the reduced maintenance expense. These new assets also provided revenue growth due to the increase in revenue-generating days at the job sites.  The operators also had an invigorated sense of pride for their pumps, which allowed these operators to remain safety-focused.
• EFFI provided a Well Priced & Well Structured equipment finance facility, fulfilling the company’s entire annual capital expenditure budget. The $8,605,707.00 facility was utilized six different times throughout the 12-month period to fund various concrete pumps and tower pumps.

Email for rate information and remaining critical planning details: financewitheffi@effifinance.com

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