Maxim Commercial Capital Provided Financing in 41 States in 2021
JAN 26, 2022 - 6:30 am
Maxim Commercial Capital reported that it fulfilled the financing needs of small and mid-sized businesses in 41 states during 2021 despite global disruptions in the equipment industry and the lingering COVID-19 pandemic.
“We began 2021 optimistic, both in terms of returning to normal business operations and continued improvements to our delivery model through investments in our operating infrastructure,” Michael Kianmahd, executive vice president of Maxim Commercial Capital, said. “In retrospect, we are exceptionally pleased with our 2021 performance, having met or exceeded many KPIs thanks to our strong, dedicated team. We streamlined our application process, invested in technology, expanded our target market to higher quality borrowers and continued to invest in marketing.”
Some of the transactions Maxim Commercial Capital closed in 2021 included:
100% financing for a mobile food service company with challenged credit to purchase a new $117,000 food preparation trailer, secured by the trailer and a second lien on the borrower’s home
A $55,300 loan to a contractor with a history of late charges on revolving credit and past charge-offs to fulfill a municipal contract with a new 2022 Bobcat T770 track loader
A $46,300 loan for a new business owner with challenged credit in Northern California to purchase a 2010 Case 521E wheel loader
Maxim Commercial Capital also expanded its truck financing program during 2021 to fund higher amounts for better credits, including investors and startups. The company specifically provided financing for:
A startup driver who owns his home and has a 706 FICO to buy an $80,000 2016 Freightliner Cascadia with 475,000 miles
Two investors with 615 and 572 FICOs, both homeowners, who bought their second truck, a $48,000 2017 International ProStar day cab
A non-homeowner driver with a 766 FICO and two years of experience to purchase a $108,000 2018 Peterbilt 579 with 432,000 miles to replace an old truck.
“We are grateful for every member of our team, each of whom remained committed to providing the highest level of customer service in spite of the year’s extraordinary circumstances,” Behzad Kianmahd, chairman and CEO of Maxim Commercial Capital, said. “We are excited about launching some new programs soon and are well-capitalized and eager to continue supporting the nation’s entrepreneurs in 2022 and beyond.”
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