Breaking Ground: How Iron Capital backed a New Construction Business

Heavy Vehicle Finance sought a quick financing solution for their Melbourne-based civil construction client, who had experienced rapid growth after 12 months in business. Specializing in utilities, deep sewer, and waste main installations, the client needed a Komatsu 450LC-8 excavator to complete a residential subdivision project.

The Challenge

The client’s business growth created an urgent need for additional equipment. However, stringent requirements from traditional bank lenders—including at least 24 months of operation, accountant-prepared financials, and year-to-date management figures—made securing financing difficult. The delays and bureaucracy associated with traditional lenders were simply not compatible with the client’s fast-paced growth environment.

The Solution

Nathan Elliot from Heavy Vehicle Finance turned to Iron Capital for a quick and flexible solution. Iron Capital’s Rent Purchase Option (RPO) eliminated the need for financial statements, focusing instead on the machine’s valuation. This approach allowed the client to secure the equipment they needed without the usual red tape.

The Process

Iron Capital’s process was seamless and efficient:

1. Application: Nathan submitted a simple email with the machine’s specifics to Iron Capital.
2. Approval: A formal quote was generated and quickly accepted by the client.
3. Settlement: Within 24 hours of submitting the required documents, settlement paperwork was finalized, and the supplier received timely payment.

This rapid turnaround ensured the excavator was delivered and ready for use with no delays.

The Outcome

The client successfully acquired the Komatsu 450LC-8 excavator, enabling them to keep pace with their growing business demands and complete their residential subdivision project. The RPO provided flexibility, giving the client the option to purchase the machine at the end of the term or return it.

Client Testimonial

"Iron Capital was the lender of choice, based on the fact that no financials were required for the purchase – their main concern was that the valuation on the machine measured up. The entire process was quick, simple, and free of the red tape that makes traditional lenders so difficult."
– Nathan Elliot, Heavy Vehicle Finance

Key Highlights

• Fast Approval: Formal approval within days, with settlement documents ready in 24 hours.
• Simplified Process: No financials required, focusing solely on the machine’s valuation.
• Flexibility: Rent Purchase Option allowed the client to own or return the machine.

Why Iron Capital?

Iron Capital’s ability to deliver fast, flexible financing solutions sets them apart from traditional lenders. With a focus on efficiency and customer needs, they make it easy for brokers like Nathan to meet the demands of growing businesses in civil construction.