Posts in category: Customer Testimonials

After we approved and commenced the lease, a freight brokerage firm was able to secure a Master Carrier Agreement with a major steel company. The signed agreement represents at least four years of work for our customer and opens up the opportunity to land other heavy hauling projects.  

Here’s a story about a 20-year-old trucking and excavating company that specializes in lawn care, excavating, digging basements, building foundations for new homes, and snow removal in the winter. Ninety percent of their customers are commercial businesses, such as nursing homes and cemeteries. Ten percent is residential business. One of their large customers is a state government, for which they are a subcontractor for snow removal.  

The client says, “We were able to acquire the equipment quickly, and it was so fantastic to work with Pat, who was amazing, and Rachelle, who made it very easy and quick for them to go through the finance process.”  

They would not have been able to secure the account if it were not for having the equipment we financed for them. This equipment enabled them to grow their business, as well. Prior to our financing solution, they had to rent equipment, which was more expensive. Additionally, since this was used equipment, they had difficulty finding someone who would provide the equipment financing.

A large, diversified construction company with annual revenues in excess of $9M has been serving Texas and surrounding states since 2005. Their customers include national homebuilders, custom homebuilders and general contractors. GFLS did a couple of small transactions including tele-handlers and a Vermeer Tractor. They had ordered a large polishing system to be used to polish stone and it was to be set up in a mining area. This system was ordered from a manufacturer in Italy.

Though we had approved this transaction, the applicant wanted a longer term than we could provide, a financing structure we could not offer, and of course a much lower rate. Everyone finally agreed to a structure and we moved forward. Once the lease was signed, we paid the vendor 100%. Then COVID hit, followed by supply chain bottlenecks disrupting getting the equipment to the US.    

Since there was an equipment delivery delay, the customer wanted to explore for a lower cost of financing.  We agreed to work with them and put in a position where we were at risk of losing financing. We worked very closely with our customers’ Finance Director to help them find a new source for the financing. They took it directly to their bank, with whom they had a long-term relationship and were declined. We worked with our syndications desk and was able to secure a Term Sheet for them.  They were going to pass.

Ultimately, they felt comfortable with our documentation and process. They also felt we were on their side and working for them. This Lessee’s credit was not stellar and company had multiple LLCs set up due to the diversity of their businesses. Their goal was to have a lower monthly payment than what we could offer.  Solution? If they could pay down the financing amount, we lengthen the term from 36 to 48 months, the new monthly payment could work. They agreed. They have been a wonderful Lessee to work with – a win-win for the both of us.

A family-owned and high-quality landscaping company provides services to a wide array of satisfied customers with both commercial and residential properties. The principal had an accident in 2012 and could not work for several months. The financial strain was overwhelming, but they fought through it. Their credit suffered as a result, but they did not file bankruptcy. Once he resumed working, he has been catching up with his creditors and trying to build back his credit.  

They were seeking financing for additional equipment to support expanding their business. Without our financing in place, they would not have been able to grow.  They were renting equipment that proved to be too expensive and was not justified for growing for their business.  With our financing solution, they were able to reduce their costs.  

Since he was able to secure the equipment, they have doubled their business. Additionally, they have been able to widen the job spectrum, opening up new opportunities they would otherwise not been able to pursue.  

An excavating company out of Ohio, also a current customer of Global Financial & Leasing Services (GFLS), was able to realize major cost savings by acquiring a lighter duty truck. The business owner clarified that with fuel costs increasing, it is no longer economical to use a dump truck to haul materials from smaller job sites. With the new lighter duty truck, he would be able to haul smaller jobs at significant fuel cost savings, since using the dump truck for these jobs was “overkill.”

This customer has a great payment history with us, and we were able to extend the credit for the truck. The customer is now enjoying cost savings and increased competitiveness, as well as bidding jobs that would not have been economically feasible before obtaining the lighter duty truck.

A family-owned sand mine came to Global Financial & Leasing Services (GFLS) in February of 2022. The company was looking to finance mining and excavation equipment. The company had previous judgements of more than $200,000, and one of the co-signers had a previous bankruptcy and a credit score below 550. We took our time working with the customer in getting the full story of their judgements, with a major part of the judgement stemming from a former landlord unilaterally selling his leased equipment.

By getting the big picture and story behind the customer, we were able to have our credit committee understand that this family-owned company is also a company that would have future success if we gave them the opportunity to expand their business. This sand mine is now a GFLS customer and has been on time with payments.