By Tonya Fry (Published in American Cranes & Transport Magazine)

There are currently five major finance issues facing the crane industry today. The best ways to mitigate these issues are to provide lenders a complete credit package, take time to speak directly with your lender, and be sure to keep an open mind. 

The top two issues facing crane companies today in regard to obtaining credit is limited funds availability and maximum risk aversion by credit sources. Since 2008, many banks have either ceased all equipment financing, or those that have not, have severely decreased their lending capacity, especially in the construction industry.

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“I refer my customers to Harry Fry & Associates anytime they need financing. HFA not only has vast knowledge and experience with financing, but they also know my equipment and understand my customers and the industry. Our transactions always move along smoothly and timely from the beginning of the credit process and through documentation and funding. They provide excellent customer service to both myself, as the dealer, and my customer. I highly recommend their services.”
Joey G., Owner - Ultimate Truck & Equipment Repair Co., Brooklyn, NY