Maxim Commercial Capital (“Maxim”) announced a strong start to 2024. The hard asset secured lender provided equipment purchase and cash out financings in 31 states during the first quarter of the year. Maxim is a national provider of loans and leases from $10,000 to $3 million collateralized by class 6 and 8 trucks, trailers, heavy equipment, and real estate.
“We are deeply committed to serving our clients and referral partners with breadth and depth,” noted Michael Kianmahd, Maxim’s CEO. “Maxim excels at providing essential financing to borrowers who don’t fit traditional lenders’ guidelines. We continuously invest in analytical tools and processes to understand how best to support their needs.”
Owner operators of used class 8 trucks, including start-ups and borrowers with challenged credit, benefitted from higher loan-to-value ratios from Maxim during the quarter. Transactions included financing for: a start-up owner operator with good credit to buy a 2018 Freightliner Cascadia 125 with 597K miles for 20% down on $44,235; an experienced owner operator with challenged credit to buy a 2019 Kenworth T680 with 433K miles for 23% down on $38,000; and an owner operator with challenged credit to buy a 2018 Freightliner Cascadia 126 with 466K miles for 25% down on $45,386.
Finance brokers increasingly turned to Maxim during the quarter for customers seeking to finance heavy equipment purchases or cash out financing to grow their businesses. Fundings during the quarter included: a creative $25,000 sale leaseback of a 100% owned 2014 Freightliner Cascadia Tri-Axle Dump Truck so a start-up serving the commercial hauling and construction industries can expand his business; 60% financing for a New Jersey-based buyer with a prior bankruptcy to buy a 2023 Case TR310B Skid Steer; and, 50% financing for an Arizona-based contractor to purchase a 2024 Brazos 40’ Pit Boss Belly Dump to haul dirt and gravel.
To fulfill growing demand, Maxim is seeking to hire a Credit Analyst Intern, Documentation and Funding Coordinator, Asset Administrator, and Collections Specialist to work in the company’s Los Angeles office. Please visit Maxim’s Career Page on its website to learn more.
About Maxim Commercial Capital
Maxim Commercial Capital helps small and mid-sized business owners nationwide by providing loans and leases (“financing”) from $10,000 to $3 million secured by trucks, trailers, heavy equipment, and real estate. It funds equipment purchase financings and leases, working capital, and debt consolidations. Maxim’s more creative financing structures leverage equity in real estate and owned heavy equipment to facilitate growth and preserve customers’ cash. As a leading provider of transportation equipment financing, Maxim supports startup and experienced owner-operators and non-CDL small fleet owners by funding loans and leases for class 8 and class 6 trucks, trailers, and reefers. Learn more at www.maximcc.com or by calling 877-776-2946.