Rainstar Capital Group, a Grand Rapids, Michigan based national debt advisory firm announced today it had provided equipment financing for a geotechnical drilling company in Fort Worth, Texas. The client was in the midst of a turnaround as the new owner had recently purchased the business. The new owner was looking to grow the company from 2.5M in annual revenue to 5M in 2021 and needed more drill rigs in their fleet to achieve this sales growth.
Rainstar Capital Group led by CEO- Kurt Nederveld made the following statement, "We were very pleased to secure for this client two new drill rigs to help fuel their growth." Rainstar was able to leverage the strong personal credit of the borrower while overcoming the financial losses the firm was showing on their year-to-date Profit and Loss statement to secure the new rigs.
The company in Texas specializes in the testing of soil samples for engineering firms and municipalities when they want to build streets, bridges, etc.
"We secured financing for the client for these two new rigs with rates in the 5's,” noted Rainstar Capital Group's CEO, Kurt Nederveld, who assisted the client on the transaction.
Rainstar Capital Group has built a lending platform of 250 registered lenders that provides term loans, equipment financing, unsecured lines of credit, senior debt facilities for commercial real estate and working capital solutions. The lending platform finances clients from $10K to $500M across all credit profiles and 1st and 2nd lien debt positions. Rainstar has developed its own magazine- Rainstar Capital Group Ultimate Lending Guide which highlights all 250 lender’s programs. Information can be found here: https://www.rainstarcapitalgroup.com/capital-markets/
"We look forward to seeing the revenue growth this firm experiences from the new rigs working out in the field." – CEO, Kurt Nederveld
Please contact your local Rainstar Managing Director for financing inquiries -
Kurt Nederveld
CEO Rainstar Capital Group
Direct: 616-821-6535
Kurt@rainstarcapitalgroup.com