Explore NFS Leasing’s equipment finance news.
NFS Leasing is a privately held North American leader in Equipment Finance with more than 18 years’ experience. NFS provides solutions supporting businesses and organizations with challenged credit including early stage, start-up & pre-revenue, financially distressed companies and turn-arounds. NFS uses its own balance sheet capital and provides fast flexible credit decisions.
NFS Leasing, Inc. Completes Complex Story Financing for Second-Generation Family-Owned Welding and Gas Supply Business
A new equipment finance partnership has been established between NFS Leasing, Inc. and small business Ann Arbor Welding Supply Company. The family-owned and operated firm possessed a complex story that traditional lenders were having difficulty getting comfortable with. Luckily, NFS specializes in story lending and was able to provide Ann Arbor with the financial partner it needed during these complicated times.
Ann Arbor Welding Supply Company originated in 1963, and has been family-owned and operated ever since, with the current owners in place since 1974. It focuses on providing customers with high quality, professional gas and welding equipment and top-notch customer service. The second-generation family-owned operation was in significant need of manufacturing equipment. Upholding their high productivity standards for immediate and impending work was in jeopardy. The equipment financing agreement provides $230K allowing Ann Arbor to sustain and essentially increase its productivity.
“Even businesses that have been around for 60 years need help sometimes,” says Craig Cooper, Vice President of Business Development at NFS Leasing. “It may not be our typical large finance agreement but providing financing and in turn allowing a family-owned business such as Ann Arbor to get the financing they need, is a very rewarding partnership.”
“NFS was a pleasure to work with, as we quickly discovered that they share many of the same values as Ann Arbor,” states Chris Zombor of Ann Arbor Welding Supply Company. “We found that NFS focused on providing good financing and incredible customer service. The team at NFS worked alongside our team and together we were able to come to a solid agreement, where all parties came out the other side happy.”
Underground Construction Company Finds its Equipment Finance Partner in NFS Leasing, Inc.
NFS Leasing, Inc. and Valor Underground have recently completed a third equipment finance agreement in as many months.
Valor Underground is an underground construction start-up founded just three months prior to its first agreement with NFS Leasing. After signing a two-year contract for a construction project, Valor partnered with NFS to fund the necessary equipment to successfully complete the engagement.
“Helping start-ups begin to write their story is part of what makes NFS Leasing so unique as a story lender,” says Michael McClendon, Vice President of Business Development at NFS Leasing. “Continuing to be a part of that story is even more powerful. We value becoming a long-term partner with start-up businesses like Valor and in helping them achieve continued success.”
“Starting a new business was certainly a complicated venture and one that can become very rewarding or unfruitful quickly,” Robert Opsenica, President of Valor Underground. “NFS Leasing has made sure that our story will end with the former being true. When we signed the two-year contract for a new project, we knew we needed to finance the equipment, but as a start-up, it was difficult to get anybody to listen. Thankfully NFS took the time to understand our business and help us find a way to get it done.”
NFS Leasing, Inc. Helps Existing Customer Expand Its Business to Hand Sanitizer Production
NFS Leasing, Inc. has extended its existing partnership with customer RPP Products, Inc. to help fund an expansion into a new line of business, manufacturing hand sanitizer.
RPP Products, Inc. is an automotive manufacturing and distribution company primarily focused on providing private label oil additives. However, during the COVID-19 pandemic it quickly created a new business line focused on meeting the increased demand for hand sanitizer. This new business line was created under the brand name, Premier Pure.
“With many businesses struggling to survive and retain their employee base, it is more important than ever for businesses to reevaluate their business strategies. Taking a new approach and expanding into a new line of business is not only a great way for businesses to succeed, but also to provide an essential service during these uncertain times,” says Dean Oliver, Principal at NFS Leasing, Inc. “We were ready to help our customer RPP Product, do just that.”
“At RPP we have been working closely with NFS Leasing for just over a year now and the partnership has proven to be extremely valuable,” Eric Zwigart, CEO of RPP Products stated. “When we saw an opportunity to expand our business while helping the general public stay safe and healthy through these hard times, NFS was there to help us get it done and we are extremely grateful for that.”
NFS Leasing, Inc. Supplies Plastic Recycling Start-Up with Equipment Financing to Occupy Facility and Commence Operations
NFS Leasing, Inc. and start-up plastic recycling company, Pike Plastics Recycling, LLC, have established an equipment finance partnership that allows the start-up to launch operations with necessary recycling equipment.
Pike Plastics was established in late 2019 with the goal of keeping plastic out of landfills. It needed a financial partner that could work with a pre-revenue start-up and understand the financial need and complexity of the business. It also needed a partner who was responsive and fast. NFS Leasing specializes in equipment financing for start-ups, pre-revenue businesses as well as, challenged credit companies, and companies in turnaround.
“Start-up businesses can require complex structures from a credit perspective,” says David Denniss, NFS Leasing’s Vice President of Sales, Canada. “However, when a start-up has a solid business plan and structure to pair with a great cause, it makes it easier for the NFS team to construct a deal that benefits both parties. We are proud to support Pike Plastics in its journey to rid landfills of unnecessary plastic.”
“NFS Leasing was incredibly helpful through the process. Their transparency allowed us to be comfortable upon completion and launch operations knowing we will have the equipment we need,” Charles Niehaus, Principal at Pike Plastics remarks. “The ability to fulfill our facilities equipment needs will allow us to stay on schedule and begin working toward and accomplishing our goals.”
Partnership Between NFS Leasing, Inc. and Gro-Well Brands Inc. Blossoms this Spring with Expanded Equipment Finance
NFS Leasing, Inc. and Gro-Well Brands have reached an agreement to expand their equipment financing relationship. NFS Leasing has financed over $1.1 MM of manufacturing equipment for Gro-Well’s production of natural and organic products.
Inspired by nature and motivated to help create a better environment, Gro-Well produces all natural and organic products from waste that would otherwise end up in landfills. Infusing capital to help North American businesses grow and thrive is what NFS Leasing is known for.
To meet the demand of its own growth, Gro-Well added manufacturing automation and production capabilities in several of its production facilities located across the Southwestern region of the United States. This required $475,000 of additional equipment which finance partner, NFS Leasing provided.
Brett Poteet, Vice President of Business Development at NFS Leasing noted, “NFS Leasing’s business is built to support companies we believe in. Witnessing Gro-Well’s growth over the past 10 months is rewarding and continuing to help them get to the next stage in their development is what NFS is all about.”
“NFS has been a very supportive partner for Gro-Well and we are excited that they continue to support the business,” says Dave Hancock, Gro-Well’s Chief Executive Officer. “As we continue to expand our business, we continue to seek greater efficiencies through automation and process improvement. NFS is helping us achieve these important goals.”
Equipment Finance Leader, NFS Leasing, Inc. Provides Critically Needed Funding to Gravity Diagnostics for COVID-19 Testing
NFS Leasing Inc. a Beverly, Massachusetts leader in equipment finance has partnered with Gravity Diagnostics, a state-of-the-art CLIA laboratory providing innovative laboratory services including testing of COVID-19. NFS Leasing has financed a total of $2.2MM to date for Gravity Diagnostics.
As the outbreak of COVID-19 has rapidly spread across the world and into the U.S., so has the discussion on COVID-19 testing availability, including materials and equipment to support that testing.
“Different people and businesses have different roles to play in a crisis such as COVID-19. For Gravity that role is to assist in ensuring that Americans have rapid testing and results, as ordered by a licensed clinician,” says Tony Remington, CEO of Gravity Diagnostics. “In the past we have partnered with NFS Leasing to help fuel our growth. This time we specifically needed NFS to quickly help finance Thermo Fisher systems that enable testing for COVID-19. Once again, NFS helped us find a finance solution fast.”
“These are obviously unprecedented times for many businesses and when we heard Gravity’s story and its urgent need for equipment finance to meet testing demands, we took immediate action to get it done quickly,” states David DePamphilis, Executive Vice President Sales at NFS Leasing. “As a story lender, we listen to customers that are in unique situations and in need of critical equipment finance, every day. Supporting Gravity in this particular situation is something the NFS Team is extremely proud of. We hope that this equipment will help facilitate the additional and much needed testing of potential COVID-19 patients.”