How an Equipment Manufacturer Used a Term Loan To Purchase Inventory & Hire Additional Staff - Excel Capital Management
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How an Equipment Manufacturer Used a Term Loan To Purchase Inventory & Hire Additional Staff

Jim Robinson, owner of a construction equipment manufacturing company based in Durham, North Carolina was in need of working capital for some major business developments. After weighing his financing options, he decided on applying for a Medium-Term Loan with Excel Capital Management. Jim and his business partner had big ideas for developing better traction systems on their company’s bulldozers. In order to make these ideas come to life, they needed some additional working capital to cover the costs of the initial research and development, design, as well as the eventual hiring of additional engineers, a marketing professional, and a few sales representatives. The short-term project was expected to take three years for completion, but the company needed capital fast.

After providing Excel Capital Management with his one-page application, 6 months of recent bank statements, three years of business tax returns, credit score, and a few other documents which were easily accessed thanks to his accounting team, Mr. Robinson was presented with an incredible offer. His funding specialist was able to get him quickly approved for a $500,000 Medium-Term Loan to be payed over the course of 5 years. This meant that Mr. Robinson and his partner had the capital and time needed to conduct the necessary research and development for the new project, as well as to cover the costs of the new hires – a great Excel Capital Management Success Story!

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*All Case Studies are based on real businesses Excel Capital Management has funded. The names of our clients and their businesses have been changed to protect their privacy.*

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