The Business
A fluid transport company operating in Northern Alberta since 1980.
The Challenge
Originally founded as a family business in 1980, the company had grown to over 70 employees by 2015 – and then the recession hit.
Suddenly, a business that had been succeeding for over 35 years couldn’t find a bank to finance them. The oil & gas sector had taken a hit, and big banks, who had benefitted from partnerships with the industry for years, were suddenly no longer willing to work with them.
Worse still – there was no discussion or personalized service. It soon became clear they weren’t going to find the help they needed at a bank. Nothing was more stressful for this business owner than the lack of help they were getting from their banking partner.
That’s when this business was introduced to Essex Lease Financial. The team at Essex were willing to meet with them and take the time to really understand their needs – and things began to turn around.
The Essex Approach
The Essex team quickly identified that their business was financed for the economy in 2014, not 2015.
Essex looked carefully at everything the bank wouldn’t support (despite two years of the business repeatedly asking for it) and provided advice on how to restructure with proper financing for their current needs and cashflow issues.
With a new financing plan from Essex in place, the business was finally able to move forward. They quickly discovered that their fundamentals were always good; they just weren’t being properly financed by the bank.
Essex Lease was the only partner willing to take the time to understand their challenges and had the tools to create a new plan that would work for them – and it’s been smooth sailing ever since.
The Results
This business owner credits Essex Lease with saving their company.
“[Essex lease] finances people, not the balance sheet. The personalized service I have received at Essex is better than anything we ever got from a bank.” -Business Owner
If you’re frustrated by big banks who seem to put up more roadblocks than solutions, it’s time to work with a lending partner like Essex Lease Financial.
The experts at Essex will work with you to find creative, custom solutions so your business can get back to a prosperous future and make the most of your opportunities.
If you need help finding financing that works for you, contact us today to get started!