Like many successful businesses, Performance Grading Inc. started out small. And when David Fischer started the company in 2011, he found two things at Ritchie Bros. to help him get off the ground – a massive selection of equipment, and equipment financing from Ritchie Bros. Financial Services.
As the owner of a new and relatively small operation, David found that securing equipment financing through traditional lenders could be difficult. Many banks are reluctant to fund something they’re unfamiliar with – in this case, high-value equipment for a specialized business – and require substantial collateral. They also may not approve enough funds to purchase all the equipment a business needs.
And as David put it, for a young business, “Getting financing for equipment can be the difference between making it big or staying small.”
Fortunately, when David discovered he could find just about all the equipment he needed for his new venture at Ritchie Bros., his wife Susan also discovered Ritchie Bros. Financial Services at the Fischers’ first Ritchie Bros. auction in Orlando, Florida.
That first year, David secured $100,000 in financing. Each year since, Ritchie Bros. Financial Services has increased his financing to help him buy the equipment his company needed to grow – skid steers, sweepers and more.
Equipment financing that’s better than your bank’s
“The financing rates and terms Ritchie Bros. offered were better than anywhere else, and they approved me for higher amounts,” explains David. “They even help me finance equipment I buy elsewhere!”
But working with Ritchie Bros. Financial Services isn’t all about the numbers; it’s also about partnering with a company who understands your business and is there to help you reach your goals.
“I have a great relationship with the people at Ritchie Bros. Financial Services,” says David, “and they helped me grow my business faster.”
Making it easier to grow your business
In five short years, through hard work and a little help from Ritchie Bros., the Fischers have grown their grading business to one that now employs 45 people, and contracts to land developers constructing large housing developments in Florida.
And whether a business is big or small, David sums up Ritchie Bros. Financial Services’ mandate perfectly: “I feel strongly about Ritchie Bros. willing to finance the little guy, and they made it easy.”