Having been in operation for almost a century, Wolverine Machine knows a thing or two about machining. Their made-to-print metal manufacturing business is dedicated to keeping up with the latest machining technology.
Keeping up with the latest technology can be a challenging financial feat, but it’s a great way to keep your competitive edge. With Wolverine Machine’s acquisition of eight new machines in the past 14 months, they were happy to have a nontraditional lending partner they could trust.
Fast-Paced Acquisitions Need Fast-Paced Financing
Wolverine Machine knows that flexibility and speed are keys to landing new business in a competitive market, which is why they offer 24-hour quote turnaround. While some companies might say they can’t quote a process because they’re at capacity, Wolverine Machine isn’t like that, says President Blaine Walker.
“We don’t have a limit for growth,” Walker says. “We’re always open to invest in equipment to expand capacity.”
When you’ve got a fast turnaround for quotes, and a commitment to telling new customers “Yes” you’ve got to have the ability to pivot quickly. Finding and financing equipment is critical to sustaining that kind of growth, especially for specialized machinery.
Landing on a Blueprint for Success
Wolverine Machine has partnered with Team Financial Group for their equipment financing needs for the past eight years. Walker is grateful to Team Financial Group for “being there for us when we needed equipment” to stay relevant in a competitive market.
“You’re not going to find a lot of lenders willing to lend money for equipment that is no longer made,” Walker says.
Walker recently found a used CNC machine for $120,000, something that could get the job done for far less than a new one, which can be upwards of $1 million. Walker’s experience and ability to recognize value in older equipment made this a financially sound move for Wolverine Machine.
“If you’re looking for a nontraditional lender that is going to have a more open mind, I would definitely talk to Team Financial,” Walker says.
Finding a Flexible Lender Keeps Wolverine Machine on the Cutting Edge
Sometimes it can take six months to go from raw materials to finished parts, especially if there are multiple outsource processes. With that long cashflow cycle, traditional lenders don’t always have the flexibility to make the financing fit the business. Instead, they try to make the business fit their financing.
“There are a lot of banks that don’t understand the realities of our business,” Walker says.
Wolverine Machine needed a lender who could take a holistic look at their success and turn that into financing terms that worked for their needs. One of the reasons Wolverine Machine has a successful partnership with Team Financial Group is because “they are able to look at the bigger picture.”
Wolverine Machine also takes advantage of tax breaks for equipment depreciation. A traditional loan doesn’t let them get that benefit on their books, but an option like Team Financial Group’s $1 Buyout Lease can have excellent tax benefits.
RELATED: $1 Buyout Lease vs. FMV Lease: What’s the Difference?
Contact Team Financial Group to Learn How You Can Get Fast, Flexible Financing
If you’re looking for a financing partner who understands the realities of your business, look no further. You can rely on Team Financial Group to get down to brass tacks with you, learn about your specific situation, and make sure you get the best financing solution for your growing business.
Ready to get started? Apply for financing now using our quick and easy online application, or give us a call at 616-735-2393 if you have questions.
The content provided here is for informational purposes only and should not be construed as legal advice on any subject.