Success stories: helping businesses with equipment refinancing

We understand that every business is different, with unique requirements – especially in challenging times. Whether it’s changes in the market or unexpected events like the COVID-19 pandemic, Ritchie Bros. Financial Services has a proven track record of helping businesses through difficult situations.

Our suite of equipment refinancing allows us to build and customize a solution that works best for you. Ritchie Bros. Financial Services can support your business with the following solutions:

1. Convert your equipment equity into cash.
2. Improve cash flow by leveraging equipment refinancing.
3. Restructure your balance sheet without having to sell your equipment.
4. Sell excess equipment and restructure your existing fleet and debt.

Solving challenges for businesses

$3.25 million interest-only restructuring helps oil & gas services provider to continue short-term growth strategy

The challenge: A specialty oil & gas services provider looking to increase its market share, offered short-term incentive pricing to end users. Unfortunately, this caused declines in their key financial ratios and ultimately led to a falling out with the company’s primary bank lender.

The solution: Ritchie Bros. Financial Services leveraged the customer’s fleet of equipment and offered a solution that allowed the company to continue its short-term growth strategy while lowering their debt servicing costs.

$7 million construction growth loan sets company back on growth plans

The challenge: A construction company found itself adversely impacted by a derailed expansion attempt, stemming from customer payment delays and COVID-19 effects.

The solution: Ritchie Bros. Financial Services structured a bridge lending facility by leveraging existing construction equipment and future growth expectations, in order to inject additional cashflow into the business. This allowed the company to recover and get back on track with their growth plans.

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Find out how we can support your business strategies today. Reach out to our Structured Finance Manager, Ross Grundy at rgrundy@rbfinance.com| 1.855.331.5665

See also

A farmer’s checklist for preparing equipment for resale