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ACCESS in ACTION
“The trend is already contributing to
tighter lending practices which are
expected to drive more rental companies
to equipment finance specialists to fund
their purchases,”Adam said.
“The banks have suffered from increased
loan defaults in the home mortgage
space, and as a result, we’re seeing
restricted lending in other areas such as
for equipment finance.
“Equipment finance specialists, such
as TFS, have been established to
provide financing solutions for rental
companies, and other equipment buyers,
to tailor lending and payment packages
specifically structured to complement
customers’ cash flow and budgets.
“Genie and TFS are an integral part of
the access industry – so we understand
the dynamics of the hire industry and
equipment market far better than the
average banking institution,”Adam said.
“We believe this perspective is always
valuable to our customers – but it is
especially important in a tight lending
environment where traditional banks
only see risk in our
industry, while we see
opportunity. We can work
with customers to create
financing solutions that
will help them to achieve
their business goals.
“Given their more general
approach to lending, it is
not surprising traditional
banks view loans for
access equipment as
riskier than lending against cars and
trucks, which they regard as easier to
dispose of in cases of default.
“When lenders see risk, it is only natural
they tighten credit and charge higher
rates. Equipment financing specialists
bring a different perspective. This helps
specialist finance partners such as TFS to
provide funding when other sources have
dried up.
“In addition, specialist lenders with
a better understanding of customer
business dynamics and risk, including
TFS, can maintain competitive rates and
Equipment financing options as banks tighten lending
Several of Australia’s leading banks are experiencing weak financial results driven by
an increase in bad and doubtful debt charges, Adam Phillips, Country Manager, Terex
Financial Services (TFS) said.
offer loan terms and payment
plans, which better match
equipment lifecycles and cash
flows.
“TFS can also help assist in all
areas of asset management,
from the analysis of future
equipment values through
to the disposition of used
equipment, which traditional
banks cannot do for
customers,”Adam said.
"Obtaining financing is often a time
consuming task, so TFS works hard to
provide a flexible and responsive service.
“Unlike a traditional bank, it is a one-
stop shop for an equipment customers’
financing solutions, including trade-
in programs, cash flow management
and working capital conservation and
ownership and lease options. Because
TFS understands customers’ businesses,
it can help get them the equipment they
need with financial solutions based on
each business’s goals and objectives."
Visit: www.Terex.com
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ACCESS IN ACTION • NOVEMBER 2016
According to LiftRite’s Business
Development Manager, Nic Marston,
Manitou is demonstrating its
commitment to improving safety of EWP
operators and adding additional value to
the range.
The ManiAccess range includes: four
electric models ranging from 9.9m to 17m
working height; five articulated booms
ranging from 11.8m to 20m working
height; and two boom lifts from 26m to
28m working heights.
“These units are rental ready, well built,
specified and excellent value providing
features designed to reduce downtime,”
Nic said.
Liftrite offers the Manitou 160 ATJ Plus
which features a 400kg or three person
basket; 4WD all terrain capability; Kubota
diesel power with three steering modes;
Secondary guarding system standard on Manitou access
Perth based materials handling and industrial equipment supplier, LiftRite Hire & Sales
is promoting the Manitou range of access machines which now come with the secondary
guarding, Safe Man System as standard equipment.
8100kg tare weight; 16.25m working
height; 8.94m reach; 425mm ground
clearance; onboard diagnostics and the
Safe MAN System.
The Man’Go 12 has a 230kg or two person
basket; 4WD all terrain capability; Kubota
diesel power; 4150kg tare weight; 11.91m
working height; 6.69m reach; 320mm
ground clearance; onboard diagnostics
and the Safe MAN System.
“Since 1983, we have built an unrivalled
reputation throughout Perth and across
Western Australia, for the sales, hire and
maintenance of new and used materials
handling and earthmoving equipment,
from well-known and trusted industry-
leading manufacturers Manitou, Gehl and
Kalmar,” Nic said.
Contact: 08 9455 2077 or visit website:
www.liftrite.com.au
The Manitou range of access machines from
LiftRite Hire & Sales now have the secondary
guarding, Safe Man System as standard
Adam Phillips, Terex Financial
Services