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Onset Financial Funds $30MM for Transportation Company

June 29, 2021, 07:18 AM
Filed Under: Transportation

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 $30 million in tractors and over-the-road equipment for it. 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,” said CEO and 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 customers 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,” said Senior Vice President 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.”

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