CG Commercial Finance Vendor Services Team Completes $11,758,923 Printing Press Equipment Lease for a GOSS International Client
By Business Wire News
By Business Wire News
CG Commercial Finance Vendor Services team has completed an Operating Lease in the amount of $11,758,923 to fund a highly-customized GOSS Offset press, Stacker/Conveyor system, Pre & Post Press equipment and associated soft costs for a Nevada based commercial printing company. GOSS International is a major manufacturer of printing presses and finishing systems with over 100 years servicing the media industry around the world. As GOSS’s financing partner, CG Commercial Finance (CGCF) has developed a mutually beneficial relationship with GOSS by facilitating lease and finance options for their global customers.
Due to complex transaction requirements – pre-delivery progress payments over an extended time period, high percentage of soft costs, large residual, and a transaction amount exceeding the Lessee’s tangible equity – the Lessee was unable to secure funding for the purchase of the GOSS offset press and ancillary equipment through their bank or other finance providers. CGCF worked directly with GOSS and the Lessee to create a custom lease financing which included the management of three different subcontractors, coordination of multiple progress payments over a six month period, and the funding of a significant amount of soft costs including delivery, installation and training. As a direct result of this press acquisition, the Lessee has increased production and capitalized on improved operating efficiencies in the highly competitive printing industry.
Stated W. Scott McCullum, President of CGCF, “We are enthusiastic about our relationship with GOSS and the significant value we provide to their customers by structuring finance programs to positively impact their bottom line.For more than 16 years CGCF has provided a unique value proposition to the equipment finance industry by exclusively employing best in class transaction specialists and innovative thinking to meet our customer’s requirements.We seek first to fully understand our clients’ needs and then deliver solutions to meet those needs by funding with a broad investor base strategy that prevails over banks rigid transaction parameters and ever changing credit appetites.”
About CG Commercial Finance Vendor Services
CG Commercial Finance is a global specialty finance company whose primary expertise includes financing for capital equipment, and structured project and debt financing for mid-sized and large companies. CGCF’s Vendor Services team utilizes its proven transactional knowledge and expertise to provide vendors with a powerful selling tool; flexible and creative enough to overcome the complex requirements of medium to large ticket commercial finance transactions. We help our vendor clients sell more and sell it sooner!
CG Commercial Finance
Jonathan Albin, (949) 720-9511 ext. 340