Iron Capital recently helped Jake Anderson from a national equipment finance brokerage secure a Bobcat Skidsteer Loader 
Andrew Stewart from Pacific Finance recently secured some heavy mobile mining equipment for a publicly listed client.
Mark, a skilled operator in the mining services sector in North Queensland, found himself at a crossroads. His main customer, a provider of earthmoving and drainage services who he subcontracted to, went bankrupt. Seizing an opportunity, Mark took over several lucrative contracts but faced the challenge of acquiring the necessary equipment to fulfil them.
The Challenge
To get started, Mark used traditional financing to purchase four machines from the liquidators. However, his bank imposed a credit limit, leaving him unable to secure the additional three machines critical to meeting his contract obligations. With time running out, Mark needed a flexible financing solution to equip his new business.
The Solution
Mark's broker introduced him to Iron Capital. Recognizing the potential in Mark's contracts with mining companies, the team at Iron Capital moved quickly to provide a tailored solution. They financed the purchase of a CAT 336 Excavator, a Volvo Articulated Dump Truck, and a CAT 140M Grader through a 12-month Rent Purchase Option (RPO). This arrangement allowed Mark to rent the equipment, build equity, and secure the option to purchase them at the end of the term.
The Process
Iron Capital’s fast and efficient approach made all the difference. Within seven days of Mark reaching out, all seven machines were ready to service the contracts. This swift turnaround enabled Mark to begin fulfilling his commitments without delay, laying the foundation for his new business.
The Outcome
Twelve months later, Mark exercised his option to purchase the three machines, completing his fleet. Since then, his business has continued to grow, delivering reliable mining services throughout the region and establishing a strong reputation in the industry.
Client Testimonial
"Iron Capital were terrific with the way they assessed my situation. They took the time to understand the opportunity I had in front of me and backed me to succeed."
– Mark, Mining Services Entrepreneur
Key Highlights
- Fast Turnaround: Financing secured and equipment ready within 7 days.
- Flexible Solution: RPO tailored to Mark’s needs, allowing him to build equity in the machines.
- Support for Growth: Focused on future contracted revenues, not historical financials.
Why Iron Capital?
Iron Capital’s commercial approach and quick decision-making gave Mark the tools he needed to build his business. Their understanding of his potential, coupled with a straightforward and efficient process, made them the ideal partner for a blue-collar entrepreneur like Mark.
Andrew Stewart from Pacific Finance recently secured some heavy mobile mining equipment for a publicly listed client in partnership with Iron Capital.
