Anyone who has been in the equipment finance and leasing space for a while probably has heard of a juicy repossession story. Why are those stories juicy? Because they get dicey and complex. There’s usually a weird lessee, a mangled/buried/torched (or otherwise) piece of equipment, and a lessor who’s left holding the proverbial bag.
Asset management is a complicated part of the business, and it only gets more interesting as you increase the number of assets you underwrite. Where you once were concerned about an asset or two on the road or on a job site, you’re now concerned about assets in a state, region, or the contiguous US. The resulting complexity and volume can cause headaches and distractions for leasing team members trying to do damage control.
The great thing about Dedicated Financial GBC is our ability to help simplify a very complex situation through the resources we have available both in-house or through our network of vetted 3rd party contacts to complete our work on behalf of our clients and/or in conjunction with our client’s internal teams.
Many equipment finance and leasing companies have underwritten large fleets where, if they were to default, it would cause a massive strain on their internal resources to manage the facilitation of the location, pick-up, transportation, centralization, storage, valuation, liquidation, and associated miscellaneous tasks to manage the assets in a default. We can do all of this while creating reports and regular touchpoints to provide visibility and optimal communication and offload work that would otherwise keep our clients from continuing to do what they do best – assessing the risk of and underwriting new business that fits their niche.
We love making our client’s lives easier and showing up big for them in situations like this. It’s not always easy, and it can get downright messy, but we enjoy fixing ugly situations and helping our clients maximize their recoveries.
Having great partnerships can make business go so much more smoothly and we’re ready to be that partner for you in 2024.
If you’d like to get in touch with me or our team, visit dedicatedgbc.com/contact/ or reach out to me directly.
Mike Mroszak
Vice President of Sales
Office: (651) 371-1270
Direct: (651) 587-1001
Email: mike@dedicatedgbc.com