NFS Leasing and Longhorn Corp., a crane and machinery rental servicer, entered an $840,000 equipment finance agreement that will supply Longhorn with the equipment needed to support an increase in demand.
Longhorn Corp. provides lifting services in the New York Metropolitan area. Operating in New York City requires increased insurance obligations and substantial capital investments. Longhorn’s access to both of those is crucial when expanding its business. Recently, the company’s rental demand surged. Already having met the insurance requirements, Longhorn needed capital investment to purchase a supplementary crane to meet rental demands. This additional equipment would create a significant increase in Longhorn’s monthly revenue.
“At NFS, our success relies on our customer’s success,” Brett Poteet, vice president of business development at NFS Leasing, said. “Recognizing the impact this equipment would have on Longhorn’s business, we knew we had an opportunity to create an important partnership with a growing company.”
“It is always a bit exciting and scary when demand rises quickly,” Matt Maidenberg, CEO of Longhorn Corp., said. “We knew we had a significant opportunity, but we also knew we needed the right partner to understand our opportunity and allow us to reach it. NFS Leasing did just that. Now with the new crane in house, we are ramping up our operations and are excited to provide more customers with safe, effective and efficient cranes.”
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