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Maxim Commercial Capital Funds 260 Businesses in Q1

May 02, 2018, 07:10 AM
Filed Under: Company Announcements

Maxim Commercial Capital announce it provided hard-asset secured financing to 260 small and midsized businesses (SMBs) during the first quarter of 2018. Maxim’s borrowers used the fresh capital to purchase heavy equipment, refinance high-cost debt and as working capital for business expansion.

Maxim, based in Los Angeles, lends SMBs from $10,000 to $3 million secured by heavy equipment and real estate and is a national leader in the owner-operator truck financing arena.

“The year is off to a great start for SMBs nationwide,” said Michael Kianmahd, executive vice president at Maxim. “Our borrowers are eager to pursue opportunities to grow their businesses but are frustrated by failing to meet banks’ strict credit requirements. For nearly ten years we consistently have filled this void by supporting SMB’s capital needs.”

During the first quarter, Maxim financed heavy equipment purchases for multiple construction companies and contractors with expanding businesses. Some of these transactions were zero-cash deals for the borrowers because Maxim accepted existing equipment or second or third liens on personal residences as additional collateral, a popular structure for growing companies.

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