FREE SUBSCRIPTION Includes: The Advisor Daily eBlast + Exclusive Content + Professional Network Membership: JOIN NOW LOGIN
Skip Navigation LinksHome / News / Read News


CG Commercial Completes $4MM Lease for Oil, Gas Valve Manufacturer

February 09, 2015, 10:00 AM
Filed Under: Energy

CG Commercial Finance (CGCF) announced that it has provided a $4,000,000 lease solution for a manufacturer of industrial valves used in global oil and gas exploration and production. The transaction consisted of Oracle eCommerce and ERP software licensing, implementation and project management costs with associated hardware. The client turned to CGCF to complete the assignment after the client’s own bank group chose not to finance the project. Although the Lessee is a well-established company with a strong client base, the transaction presented challenges due to the significant soft costs, progress funding requirements and exposure to a cyclical industry during an exceptionally unpredictable macro-economic climate.

CGCF leveraged its extensive knowledge of the Energy industry and its project management capabilities, to meet the client’s time table and ensure timely disbursements to the three software and service vendors during the implementation period.

As noted in the Controller’s letter of reference, "I wanted to take a moment to thank the CG Commercial Finance team for the results you achieved for my company. The team at CG commercial Finance has been professional, responsive and courteous in the leasing of our ERP project. CG was able to include most of the "soft costs" of the ERP implementation including developer's invoices for time and software engineering costs. I look forward to continuing the relationship for any other challenging asset financing or leasing needs we may have."

Comments From Our Members

You must be an Equipment Finance Advisor member to post comments. Login or Join Now.