Helping businesses build, grow, and respond is at the heart of what we do. We work alongside our customers to choose the right lender, structure, and product to best meet their needs.
We recently helped Twincon Enterprises Ltd. secure funds by way of an Equipment Backed Revolving Loan (EBR). The EBR helped them refinance some existing debt and unlock equity in their fleet of equipment for working capital purposes. The working capital will be used to continue to grow the company and make purchases that are otherwise hard to finance (for example: project-based inventory, start-up costs for new projects, as well as other materials and supplies). After a strategic discussion about their financing strategy and pain points, we were able to uncover a need for a cash-flexible financing solution.
Learn more about TwinCon Enterprises, based in the Okanagan Valley, BC. Owned by Chris and Maryssa Dandurand, TwinCon is known for their quality and commitment to their work. We spoke with Maryssa to learn more about the company, and how they’re growing their business with CEF.
Tell us a little bit about TwinCon Enterprises – who you are and what you do.
We are an excavation company providing earthworks, civil and public works, land clearing and site preparation, subdivision development and rock hammering. We have been operating in the Okanagan Valley for 10 years and have grown to be one of the largest excavation companies in the South Okanagan. We pride ourselves on quality work, our great team, and developing relationships with our clients to deliver them the best product possible.
How big is your team?
We have nine office staff, three mechanics, and 55 field staff.
How did you get your start in the industry?
Chris Dandurand started in the industry from a young age and worked his way up in prominent companies on the coast, eventually working at large mines in the Kootenays region. Using this knowledge and experience, he started his own equipment rental company in the Okanagan which quickly transitioned into an excavation company and grew rapidly from there.
How did you evolve to become an entrepreneur?
I have always enjoyed the challenge of creating something for myself and always had a dream of owning my own excavation company.
Do you have any advice for other companies looking to grow?
Don’t give up and know that it’s not easy. Ensure that you find good people to grow with you and treat them well – they are your most important asset. Choose goals for 1 year, 3 years and 5 years to have a clear line of sight. Revisit it often to see if you are on track, off track, or if your goals have changed. Remember that every interaction is a potential lead for new business – ask questions! And most importantly have fun along the way!
How has your experience working with CEF been?
CEF is providing cash flow and allowing us to purchase additional equipment. They have been great to deal with, always answer their phone, provide transparency all along the way of the process and try to help find solutions to your current business needs.
Learn more about TwinCon Enterprises here: https://www.twincon.ca/
Contact us today to discuss your financing needs. We can help your company reach the next level!