A $400,000 refinance / equity takeout on 2 Tower Cranes that were already paid off. This was done for a repeat customer of ECC to provide the client additional working capital for current projects.

Best part client offered 4 tower cranes and we only used 2 as security. NO APPRAISAL required as lender used a letter from the tower crane dealer with their estimate of Current Market Value, when they couldn’t find comparable units for sale. Lending Value 70% of CMV. A refinance done with your needs in mind. Like everything choosing the right lending partner will make the difference.

Refinancing can be fair; you just need the right lending partner. Depending on your Lender, appraisals are not always needed. Client saved appraisal costs, saved from a 1% doc fee for refinancing like most lenders thus saving additional money plus less security taken, giving client future flexibility if needed. Sounds like an overall win for the client and in fact all parties.

If you have refinancing needs or equipment purchases, reach out to Luke Loran at 403.710.5847 to discuss your options. We work with your best interests in mind.