Your company’s efficiency in terms of its day-to-day operation is commonly measured by the working capital that you have. Your working capital is calculated by subtracting your current liabilities from your assets. When you have positive working capital, it indicates that your business is able to stay financially viable and to meet its obligations.
It is vital for your business to be able to meet the operational needs that it has. It is common for construction businesses to need heavy equipment but not to have the working capital that they need to purchase it outright.
If you are in this situation, you might want to consider heavy equipment financing through Patriot Financial LLC. Alex Lyon & Son Sales Managers and Auctioneers, Inc. have several partners to help with our construction equipment financing. We are very proud to be working with Patriot Financial LLC as one of our three financing partners for our used equipment auctions.
Heavy equipment financing
Used equipment auction financing is a way for you to retain the liquidity of your business while securing the capital that you need to make your heavy equipment purchase. It is a loan for which the equipment will serve as collateral. During the loan term, you will be required to make your monthly payments. When the term is up, you will own the heavy equipment and will be able to keep it or sell it.
Benefits to financing
Used equipment auction financing offers multiple benefits to businesses. When you finance your equipment, you may receive up to 100 percent of the capital that is needed to purchase it. This may help you to retain your liquidity because you won’t have to use up your working capital to buy the equipment. You will be able to pay it off over time by making monthly payments until the loan’s term is up.
Financing requirements
In order to secure used equipment auction financing, you must meet the requirements. Patriot Financial LLC looks at your credit, your business’s credit and the length of time that your business has been operating. Patriot Financial LLC is able to offer financing to some business owners who have bad credit. Each application is reviewed on an individual basis in order to make their decision.
What can be financed?
Patriot Financial LLC offers financing for a variety of different types of construction and heavy equipment, including the following:
Bulldozers
Compressors
Concrete equipment
Cranes
Drills
Excavators
Farm equipment
Forklifts
Generators
Grinders
Jackhammers
Skid steers
What makes a Lyon Auction unique is that all of the equipment is in the same location. Companies are able to liquidate a large fleet of vehicles in a single auction. Lyon Auction is able to help well-known companies from the conception to the conclusion of the auction. This makes it headache-free and as enjoyable as possible for both the seller and buyer. If you have any questions, feel free to contact us, we’re listening!
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