Crane and equipment rental company Longhorn Corporation brought in NFS Leasing to help it meet increased demand for lifting services in the New York Metropolitan area of the USA.
Longhorn signed a US$840,000 equipment finance agreement with NFS to expand its business with a new crane. Operating in New York City carries increased insurance obligations and substantial capital investments, NFS said. Access to both of those was crucial to the expansion of the business. When the demand for rental services surged recently Longhorn had already met the insurance requirement but needed capital investment for another crane.
Commenting on the deal Matt Maidenberg, Longhorn CEO, said, “It is always a bit exciting and scary when demand rises quickly. We knew we had a significant opportunity, but we also knew we needed the right partner to understand our opportunity and allow us to reach it. NFS Leasing did just that. Now with the new crane in house, we are ramping up our operations and are excited to provide more customers with safe, effective, and efficient cranes.”
From NFS leasing Brett Poteet, vice president of business development, said, “Recognising the impact this equipment would have on Longhorn’s business, we knew we had an opportunity to create an important partnership with a growing company.”