Driveline isn’t just all about financing utes, vans and cars. You may be surprised with the variety of other assets we fund from time to time. This week we share some “Outside The Box” funding solutions to demonstrate how varied our funding arrangements can be.
I need to Buy a large Asset Offshore
We are increasingly getting calls from clients wanting a process put in place to fund large purchases from offshore and we now have this process sorted. Two examples recently have been a $350,000 Telehandler from Germany and a $650,000 CAT Bulldozer from the USA. In both cases we managed the interim funding via LC to get it onto a ship and then to manage the take-out funding once delivered to the NZ port. This was all managed seamlessly, pulling together multiple partners to make the deal happen and keep the clients happy.
My Trucks Blown Up
Yes that sad old story ! . . . a client phoned in recently and his Kenworth had thrown a piston out of No.6 cylinder and needed a full rebuild. Cash was tight, as it was right in the middle of another covid lockdown and we came up with a funding solution to get him back on the road when his bank wasn’t interested in the slightest. This was another great result in the midst of great difficulty especially with the bank. P.s he is no longer with that bank !
Its Not The Size That Counts
Talking with the team it is obvious that there are lots of little deals happening and some that stand out might be a surprise. One client needed a $5,000 ride on mower for his hobby farm, another needed to fund 3 floor scrubbers at $11,000 each for a new business venture. A building company wanted to fund multiple mini tracked dumpers for site works and another wanted to by a 2nd hand jet boat for a hunting business.
Long Term Finance Facility ?
Many of our client relationships kick off with a one car deal and then over time develop into wider arrangements which more often than not include a fully fledged facility. Facilities are set up on an annually renewable basis and cover any funding that may be required over the next 12 month period. We sit down with our clients and look at the forecast requirements and set it up on that basis. It saves a lot of time and only requires a quick call and a signed order to get a new vehicle or other piece of plant or machinery underway. We have current facilities ranging From $100k – $7.5m
Its A Partnership
The real key with the team at Driveline is not just with the relationship we develop with our client but the development of wider relationships with their key advisors like accountants, lawyers and senior management staff. What this means to business owners is that we become part of “The Team ” and essentially become the fleet manager working along side their team in true partnership fashion.