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Patriot EF Provides $2MM to Leading Canadian Construction Company

April 16, 2015, 07:17 AM
Filed Under: Construction

Patriot Equipment Finance LLC (PEF) has provided a $2 million lease solution for a Toronto, Canada based construction company. The transaction consisted of Caterpillar equipment. The client turned to PEF after thoroughly reviewing and consulting with PEF about documentation from the equipment manufacturer’s captive leasing source. The Lessee is a well-established construction company in Toronto Canada with a growing back-log of work and recognized as one of the fasted growing construction firms in Toronto.

On the surface, the captive source appeared to be offering a better rate, but after exploring the overall cost of the lease and some of the details in the fine print of the documentation of the captive, PEF discovered and educated the lessee that the overall costs to them would be much higher than the rates they were promised. PEF leveraged its extensive knowledge of the construction industry and its thorough knowledge of tactics some lessors use in meeting their overall yield objectives to educate the client in their decision making process.

“I wanted to take a moment to thank the PEF team for the results they achieved for our company. The team at Patriot Equipment Finance has gone above and beyond in their responsiveness for the leasing of many of our construction assets and truly understood our needs.  This was an important project as we were replacing our fleet to meet the demands of a growing backlog of work,” said the CFO of the construction company.

The principals of PEF boast over 75 years of combined financing expertise in the middle- to large-ticket finance industry.

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