December was another good month providing lease financing solutions for businesses. We are finding a lot of organizations are coming to us with unique needs and consequently require alternative financing solutions. As a direct funding source, Madison can be creative in financing transactions that other institutions may not want to handle and we think this trend will continue into 2014.
The December New Hampshire Business Review cites “Lending has been on the rise but not from traditional sources.” Getting a bank loan still appears to be a major challenge for most small businesses. While banks are still the first stop for most small businesses in search of financing – 60 percent, according to a recent study by Pepperdine University – only 27 percent succeed in securing it.
Some examples of recent transactions include:
Refinancing for an established restaurant. Client wanted to refinance equipment that was paid for a few months earlier.The client invested over 1 million in equipment and build out. Madison stepped in and did a sale-leaseback (refinancing) for $200K in equipment. All went well and the client had his money in less than a week.
Refinancing for an auto daily rental company. Client wanted to finance used units coming off a bank finance program. The long established Madison client had new vehicles financed with a bank. When the initial 24 month term was up, the bank did not want to refinance the used units. Madison stepped in and in a week refinanced the units. This was a $300K transaction accomplished in a week.
In most cases we are able to act very quickly in providing a solution to your financing needs.