Horizontal Service Rig
Our customer required a new horizontal service rig to replace an aging model. The customer requested short term financing, so they could re-evaluate their financial position after 12 months. We provided a 12 month term loan, amortized over 48 months - keeping payments in line with their cash flow and allowing for an early exit or renewal at end of term.
A fast growing energy service company required working capital to meet the demand for their services. We levered on their existing equipment fleet and advanced 80% of the appraised value on a sale and lease-back facility that was fully amortized over 48 months. The lending facility had no covenants, and no monthly or annual review requirements.
Water Trucks & Semi-Vacs
A well established fluid hauling company purchased numerous used water trucks and semi-vac's through auction and paid cash. Months later, they required working capital replenishment, so we financed the equipment on a term loan over 36 months and advanced 90% of the original purchase price. The term loan was a non-demand facility and allowed for early prepayment after the first 12 months.