CGCF funds $6.8MM equipment operating lease and was the only Lessor able to successfully negotiate FAS13 qualification with PwC as their current lessors were unable to gain agreement.
|Equipment:||Yellow Iron, Material Handling and Construction Vehicles|
|Lessee:||The Lessee is a $15.1BN global building materials company that provides high quality products and reliable services throughout the Americas, Europe, Africa, the Middle East, and Asia|
|Transaction:||$6,847,556 GAAP/Tax Operating Lease|
|Competition:||The Lessee had current relationships with six major U.S. Lessors including GE Capital, BofA, CIT, Wells Fargo, Altec Finance, and Citicapital.|
|Highlights:||Pricewaterhouse Coopers (PwC) brought up over 35 different issues around qualification of the transaction as an operating lease. CGCF was the only Lessor able to successfully negotiate FAS13 qualification with PwC as the Lessee’s current lessors were unable to gain agreement. CGCF’s relevant experience with FIN46R and other complex GAAP issues allowed us to qualify the transaction to PwC’s approval.|
“I have been with our company for the past four years and have initiated over 100 lease transactions on behalf of our company and its subsidiaries. There have always been challenges in closing transactions especially when initiating a new relationship. I would like to commend you for the ease and speed with which you set up the relationship and your teams’s no-nonsense approach taken within your funding process. I appreciate having a trusted partner who can provide the capacity and competitive rates that we demand over many years to come.”
– Charmaine S. – Leasing Manager
CG Commercial Finance gives you competitive advantages with our robust funding capabilities which include long-term installation funding, numerous delivery schedules and the ability to finance soft costs and services to provide over 100% financing, which in turn maximizes profit for you.