Specialty lender Maxim Commercial Capital provided hard-asset secured financing to 228 small and mid-sized businesses (SMBs) during the third quarter of 2018, and to 781 SMBs year-to-date.

Transactions closed during the quarter included 100% purchase financing for used heavy equipment when borrowers pledged additional heavy equipment as collateral. Examples include a military veteran who successfully started his own business when Maxim provided 100% financing for his purchase of a dry van to fulfill a military contract to haul equipment. Another borrower expanded the capacity of his excavation company with the purchase of a used CAT 289C skid steer with 100% purchase financing from Maxim. Both borrowers pledged additional heavy equipment in lieu of down payments.

“Our hard asset-secured financing programs create opportunity for hundreds of business owners across the country every year,” said Michael Kianmahd, executive vice president at Maxim. “Upon receiving an application for financing, we value the underlying collateral while simultaneously asking key questions to determine the borrower’s cash available for a down payment and ability to pledge additional collateral to preserve cash flow. Many of these borrowers have been turned down by numerous banks, so they are surprised and pleased when we help them get a deal done.”

Maxim Commercial Capital lends $10,000 to $3 million to SMBs secured by heavy equipment and real estate and is a national leader in the owner-operator truck financing arena. It funds up to 75% of the acquisition cost of class 8 and class 6 trucks, trailers and reefers for owner-operators and small businesses.