"According to Bernie O'Neill, Managing Director of HMP Constructions, dealing with GE Commercial Finance offers major advantages compared to other finance providers he has worked with. As a large mining contractor, HMP's business is capital intensive. The monster trucks and earthmoving equipment they operate represent a serious investment.
"Where GE differed was that using their Asset Management Services (AMS) approach, they could see the real value of our machinery," said Bernie. " GE looked at what it was really worth, not just at the Balance Sheet value." In fact, GE applied its industry expertise to HMP's fleet and structured finance on equipment up to 15 years old - an approach considered out of the question by any other lenders that HMP had dealt with. The result: HMP could release 'hidden equity' in its balance sheet to be leveraged against future borrowings.
Bernie emphasised that GE people had taken the time to learn about HMP's business. He said "We've not only worked with the AMS team, we've also had direct access to both the CEO and Head of Risk. There's no 'Ivory Tower' attitude at GE."
Bernie added that in light of the company's recently formed joint venture with Japanese partner Mizutani Co Ltd, its relationship with GE was more important than ever. He commented "As far as we're concerned, GE's global reach and expertise is yet another factor in their favour."
Bernie O'Neill,
HMP Constructions Pty Ltd
Equipment Finance
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Along the way, we've helped many business owners like Bernie free up their cash flow, release equity in their assets and restructure their finances to secure their success.
If you're looking for a flexible and committed partner to help drive your business further, call GE Commercial Finance today and talk to one of our finance experts about making your business even more competitive.