This Plumbing and Restoration company in Arkansas was started by a husband-and-wife team in 2011, doing commercial and residential plumbing. Today the business primarily focuses on two services – cast-iron pipe relining and high-pressure jetting.
In every major city in America, older homes, apartments, and streets all have cast-iron piping that’s coming to the end of its lifespan, and when it does, it needs to be replaced or relined. This client relines cast-iron pipe, so it doesn’t have to be dug up and replaced. Their other primary service is high-pressure jetting – a weekly necessity for any restaurant with a grease trap – from Mom-and-Pop shops to fast food or high-end restaurants.
THE CLIENT’S CHALLENGE
The number of high-pressure jetting projects you can take on is directly tied to how quickly you can complete each job. And that depends entirely on the strength of your jetter. The client needed to upgrade their high-pressure jetter to a newer, stronger, faster model – specifically, the Spartan Model 758 Jetter, which would cost about $40,000. In addition, they also needed to purchase a central camera system. The camera is used at the start of a project to check for a blockage, backup, or debris, like tree roots.
The borrower needed funding to purchase the new jetter, and they needed it as soon as possible. Every day they continued using the older, slower model was costing them time and money. Because this is a niche product, financing can be problematic. Many banks will treat it as a personal loan, or small businesses like this client could put the purchase on a credit card.
THE APEX COMMERCIAL CAPITAL SOLUTION
$40,000 Equipment Financing • Same-Day Approval
At its core, Apex Commercial Capital is built on strong professional relationships – including their partnership with Spartan Tool, the manufacturer of the Model 758 Jetter the client hoped to purchase. As Spartan’s exclusive equipment finance partner, Apex was able to significantly streamline the process. The client went from application to approval in under three hours, with documents going out and funding provided all in one day.
Apex Commercial Capital’s #1 focus is understanding the borrower, their industry, and their specific needs. Because Apex Commercial Capital is the preferred finance partner of Spartan Tools, plumbing professionals trust that they’ll have greater insight into their situation. Apex Commercial Capital has broker and vendor relationships across a wide range of industries, so they can provide that same high level of understanding and knowledge.
By working with Apex Commercial Capital, the client secured a financially smarter solution to their equipment financing needs – without paying increasing interest rates or pulling the funds from much-needed cash on hand.
With the $40,000 equipment financing loan from Apex Commercial Capital, the client purchased the Spartan Model 758 Jetter and the central camera system they wanted. The new equipment allows them to book more jobs – and accept projects that specifically require the camera and higher-pressure jetter – generating increased revenue and growing the business overall.