41 Lease Schedules
As a global leader in automotive safety, this international company has been leading the way in innovation and technological advances for over a century. Since its inception, they have taken pride in finding the best and most talented engineers to find and create solutions for vehicle manufacturers worldwide. Their commitment to safety and dedication to their craft has turned them into an over two-billion-dollar a year powerhouse.
Our first transaction with the customer was $5M for equipment in the United States and Mexico. However, a massive reorganization and debt recapitalization a couple of months prior made it tough to assess an accurate financial picture. Because of our dynamic funding abilities, we were able to deliver what was needed. Since then, we’ve funded a broad range of equipment, from manufacturing to inventory, racking and shelving, and everything in between. This customer has presented some extraordinarily tight deadlines. It’s not often an independent equipment leasing company can provide $100M in a matter of a week, but that’s precisely what happened. What’s even more incredible is Onset has been able to finance relatively unsecured international equipment for this company time and time again. We’ve been able to help them lease equipment in China, Romania, Belgium, Spain, India, and Italy, in addition to the US and Mexico. And, we have developed a rock-solid relationship with this company and have helped them grow their revenue by nearly four times. Our transactions have given them the freedom to utilize their line of credit and cash for growth instead of putting it into equipment. The equipment financed generates forty to fifty thousand dollars of revenue, per location, all day, every day. Onset is proud to team up with this multi-billion-dollar company to provide valuable capital as they continue to expand their industry-critical operations.
The Onset dedicated team has been very instrumental in the fluid decisions that we make, and we certainly appreciate their speed and thorough process in the credit underwriting.