Onset Financial funds $30M in transportation
Draper — With an immediate cash flow concern on the line for an industry-best provider of transportation and trucking solutions – Onset Financial was able to quickly fund $30M in tractors and over-the-road equipment for them. Onset’s ability to meet the transportation company’s tight timeframe has given the lessee the assets necessary to generate significantly increased profit margins.
“Transactions like these are a perfect illustration of why we love what we do here at Onset,” says CEO & founder Justin Nielsen, “Being able to provide funds that are integral in helping this company recover and grow further fuels our passion to provide the best experience equipment finance has to offer.”
Utilizing creative structures unique to Onset’s offering, the lessee was able to overcome significant credit risk and secure financing before having to sell their much-needed equipment to another party. This tailored structure provided a payment that was critical to meeting the customer’s cash-flow requirements.
“I am extremely pleased to see a transaction of this complexity and size fund with the speed and accuracy that it did,” says SVP of Sales Heath Birchall. “Working with a fantastic and committed client allowed us to showcase our capabilities and achieve our common goal. We look forward to a long-lasting relationship with this client.”
Onset Financial was recognized as the nation’s 8th Largest Independent Leasing Company by Monitor Magazine.
About Onset Financial, Inc. – Founded in 2008, Onset Financial, Inc. is an industry leader in equipment leasing and financing. Onset’s seasoned Management Team has decades of equipment leasing experience and key industry relationships that enable Onset to offer additional flexibility in lease structuring. For more information please call 801-878-0600 or visit www.onsetfinancial.com.