A global provider of coal to power plants, steel mills and industrial facilities.
NEED:
The company was expanded into newly opened territory and needed a large financing package to handle highwall miners, front end loaders, dozers and trucks. The equipment manufacturers and their primary banks were at their lending limits, so the company needed a new financing provider.
SOLUTION:
VFI provided multiple rounds of financing totaling $26,700,000 and funded over a period of 9 months.
RESULTS:
Better management of cash flow during off-peak-season
Proper management of outdated equipment assets
BENEFITS:
- Expanded coal output by millions of tons
- Increased revenue and profitability
- Flexible financing to meet tax and accounting requirements