Maxim Commercial Capital Funded 129 Businesses in 2Q 2019
Hard asset-secured loans from $10,000 to $3,000,000 for small businesses
LOS ANGELES, CALIF. – July 24, 2019 – Maxim Commercial Capital is pleased to announce it provided hard-asset secured financing to 129 small and mid-sized businesses (SMBs) during the second quarter of 2019. Maxim lends $10,000 to $3,000,000 to SMBs secured by heavy equipment and real estate to facilitate asset purchases, working capital and refinancing expensive debt.
Transactions funded by Maxim during the second quarter included $800,000 in growth capital to enable an owner-operator of residential assisted living facilities to acquire a new property. The loan is secured by a first lien on the new property and second liens on the borrower’s primary residence, two other assisted living homes and a rental property. A San Francisco-based borrower increased his $1.2 million loan from Maxim to $1.8 million, secured by second liens on commercial and residential properties, for working capital purposes. Maxim provided another existing borrower with 100% financing to purchase a flatbed trailer and working capital for business expansion, secured by the new and pre-existing owned equipment and a second lien on the borrower’s home.
“The biggest compliment we can get is for a customer to return to us for incremental financing.” said Michael Kianmahd, executive vice president at Maxim. “Without question, this happens as a result of our team members’ great end-to-end customer service and commitment to our clients’ success.”
Despite a national downturn in sales of used class 8 trucks during the second quarter, Maxim facilitated purchases by numerous owner-operators with challenged credit. Examples include creative financing for a woman without a commercial driver’s license (CDL) so she could start up a trucking business with the purchase of a 2015 Kenworth T680. An experienced owner-operator with a discharged bankruptcy in 2010 and late credit card payments successfully replaced his truck with a 2013 Peterbilt financed by Maxim.
"Our goal for every owner-operator who finances with us is to do everything we can to make a success story out of his or her business,” commented Behzad Kianmahd, founder, chairman and CEO of Maxim.
Maxim is expanding its team to support the company’s growth. Visit the company’s website to review current job openings for a Chief Financial Officer, Controller, Customer Service Representative, Staff Accountant and Director - Real Estate Lending.
About Maxim Commercial Capital
Maxim Commercial Capital helps small and mid-sized business owners seize opportunity by providing financing in amounts up to $3,000,000 secured by heavy equipment and real estate. Maxim facilitates equipment purchases, provides working capital and refinances debt for companies across all industries located nationwide. Through Maxim’s tailored financing programs, businesses unlock capital tied up in underleveraged assets, often replacing expensive short-term debt and daily repayment working capital loans with longer term capital. As a leading provider of transportation equipment finance, Maxim funds up to 75% of the acquisition cost of class 8 and class 6 trucks, trailers and reefers for owner-operators and small businesses. Learn more at www.maximcc.com or by calling 877.776.2946.
The National Equipment Finance Association (NEFA) is a nonprofit trade association created to represent the equipment leasing and finance industry throughout North America by providing a forum for personal and professional growth through Community, Education and Professionalism.