Rigid Dump Trucks play a major role on many Australian Mine Sites, transporting mineral deposits from the mine face to storage facilities in readiness for transportation to ports or industrial facilities.
Rigid Dump Truck finance is generally facilitated by Corporate Banks throughout Australia, however these Institutions can not always assist clients working in the Mining Industry. We have the ability to work with the deals that Corporate Banking knock back and have helped out many Mining Contractors in recent times.
Example Funding Scenario
- Mining Contractor approached our office requesting finance for 5 additional used Caterpillar Rigid Dump Trucks
- Client had been declined by their Corporate Banker
- Purchase Price – $11M (gst inc)
- In business for 15 years
- Equity in equipment – yes
- Director a home owner – yes
- Clients Accountants met with us at Sydney Airport.
- Financials were requested for the last 5 years.
- Accountant prepared projections were also provided.
- Work Contracts for the next 5 years provided.
- Approval of $11M (gst inc) was issued two weeks later with a structured payment plan in place to meet clients cash flow.
- Client was very impressed that our office was able to do a deal that their Corporate Banker was not comfortable with.
A list of some Rigid Dump Trucks that our office has provided Heavy Machinery Finance are:
Either you as the business owner or your Financial Representative can make an appointment with our office, to discuss any funding scenarios that your business is about to undertake. Please contact us on 1300 788 740.