Partner in Hard Times
Capitalizing on the Market
Focused on growth and innovation, this five-billion-dollar energy company refines and markets petroleum products. Their business is focused on three areas: refining, asphalt and retain marketing. They strive to stay innovative while meeting both the energy and “green” initiatives of today. They provide affordable value and service to all of their customers by leveraging their experience in merchandising, marketing and technology across business lines.
At a time when the banking world turned its back on the energy industry, and in particular spurned petroleum technology companies, Onset Financial stepped in as a partner to this customer by financing equipment that their banks did not want. Onset was willing to work with the customer to understand their banking relationships, including covenants on their senior credit facilities, and structure a lease to accommodate their need for financing mission-critical equipment. The financed equipment supported their ongoing operations and propelled this customer’s turnaround by allowing them to quickly take advantage of the upswing in this cyclical market.
Onset Financial was with us when nobody else wanted to be.