NFS Leasing Closes $8MM Equipment Financing Agreement with Twin Salvage
OCT 7, 2020 - 6:58 am
NFS Leasing entered into an $8 million equipment financing agreement with Twin Salvage, a scrap metal processing business.
Twin Salvage launched its scrap metal processing business in 2017 when it began cutting up and liquidating large metal structures such as oil drilling rigs, trailers and steel buildings. Through new partnerships, Twin Salvage continued to grow, allowing it to expand its inventory. This required an $8 million equipment expense, which would allow Twin Salvage to build up and support its growth, transforming it into a larger company.
NFS Leasing specializes in equipment finance agreements such as the one Twin Salvage presented. NFS Leasing worked with Twin Salvage to find an equipment finance agreement. This financial partnership allowed Twin Salvage to purchase equipment immediately while avoiding heavy monthly fees, which helped the company more than expected as the COVID-19 pandemic hit, according to NFS Leasing
“No two companies are the same and that means no two NFS Leasing agreements are the same. This was certainly a unique partnership,” Jon Preiser, vice president of business development at NFS Leasing, said. “But NFS likes a good challenge and we approach each situation as unique and provide a custom solution. We will continue in partnership with Twin Salvage and look forward to seeing their growth and achievements immediately, through the pandemic and well into the future.”
“The partnership with NFS Leasing has added incredible value to our business,” Kile Brendle, president of Twin Salvage, said. “The equipment we financed will be transformative, allowing us to go above and beyond our original goals. This transformation is only possible thanks to the NFS Leasing team and the support they provide.”
NFS Leasing is a privately held North American equipment finance company with more than 18 years of experience.
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