Los Angeles, CA -- (SBWIRE) -- 07/09/2013 -- VMI LLC, a nationwide asset-based funding source that provides flexible loan solutions for businesses with heavy equipment that is pledged as collateral has just announced an application only program. Under this program, a construction company can get working capital ranging from $10,000 up to $250,000 with only a completed application and equipment list.
The application only program is available to construction companies looking to get loans against construction equipment that is owned free and clear. The program focuses on the collateral not just the credit of the guarantor. The equipment loan company offers its working capital program to a variety of industries, including excavation, grading, demolition, paving, wrecking, hauling, and many more.
VMI will typically finance heavy equipment of all varieties, including tractors, loaders, graders, excavators, cranes, skidders and dump trucks. These often include well-known brands like Caterpillar, John Deere, Case, Komatsu, Hitachi, Kenworth and Peterbilt.
Many construction companies are starting to see an uptick in projects. In order for these companies to start or complete the jobs, they need working capital to finance these projects.
Unfortunately, many traditional lenders still are not lending to construction companies. These companies become frustrated because the banks are not lending to them despite the fact they need the financing to get the work done.
By working with VMI and securing a loan against equipment, companies can get much needed funding. As noted on the company’s website, funding occurs in days not months.
Skylar Marshall, Communications Specialist of the equipment loan company, remarked, “We provide a real working capital solution to construction companies when they get declined for loans from traditional lenders. We get them money fast because in the construction industry, time truly is money.
“Traditional lenders have abandoned the commercial construction industry, but we are ready to provide construction companies with the working capital they need.”
About VMI LLC
VMI LLC provides secured construction equipment financing for companies that need working capital. Construction equipment funding is available for tractors, excavators, bulldozers, loaders, graders, scrapers, dump trucks, cranes, forklifts, backhoes, steers and other heavy equipment. Working capital loans are approved based on the equipment and not just credit. For more information, please visit http://www.financeheavyequipment.com