CGCF funds $73.2MM equipment Tax/GAAP operating lease structured to preserve client’s capital and liquidity, and to manage financial ratios to stay within senior lenders covenants.
Lessee: The Lessee is one of the largest producers of high quality coal in the US and employs 7,000 people in some of the finest coal mining regions in the US.Transaction: $73.2MM in multiple lease transactions with 32 schedules spanning over 2 years Competition: Multiple banks and equipment finance companies Highlights: The client chose CGCF over competing banks and finance companies as CGCF was able to meet the client’s rapid funding requirements obtain the required capacity in a very difficult lending environment for the coal industry, fund highly specialized and used equipment collateral, and provide large residuals. As the client’s Chief Financial Officer stated in his letter of appreciation to CGCF post funding:
“Management appreciates your effort throughout the last two years in providing equipment leasing solutions for our mining operations. CG’s leasing solutions for our longwall mining equipment and continuous mining equipment needs have enabled our Company to successfully implement a very significant capital program over that period that has resulted in significant production improvements.
Your knowledge of the industry and our Company, has proven to be very beneficial in securing the required lease financing.”
CG Commercial Finance works with mining organizations domestically and internationally to achieve creative, cost effective, and timely financing alternatives for conventional and non-conventional asset purchases. Through our extensive knowledge and understanding of the Mining marketplace we are able to help our clients achieve maximum ROI and minimize up front capital outlay.