Maxim Commercial Capital expanded its target market with positive results during the third quarter. The direct lender launched an enhanced risk-based scoring system for its Truck Financing Program, resulting in lower down payments for owner operators with better credit. Buyers with sufficient real estate equity or other excess collateral may qualify for 100 percent purchase financing under Maxim’s Structured Finance Program.

“Vendors and loan brokers across the nation have responded positively to our new credit tiering system for truck purchases,” said Ryan Selway, Director of Vendor Relations. “Today’s economy is causing banks to be more cautious, turning down certain buyers with strong credit. Our new risk-based scoring model makes us even more competitive to fund these deals.”

Recently funded transactions under the revised program include a 2018 Freightliner Cascadia purchased for $81,600 with 20 percent down by an experienced California owner-operator; a 2018 Freightliner Cascadia Day Cab purchased for $79,250 with 28 percent down by a startup owner-operator in Maryland with a dedicated Amazon route; and a 2017 Freightliner Cascadia purchased for $79,170 with 31 percent down by a startup with marginal credit.

Maxim continued to close structured real estate secured transactions during Q3, helping entrepreneurs grow their businesses and consolidate expensive short-term debt. One example is a $150,000 funding for an experienced landlord and property manager secured by first liens on two rental single-family homes, a second lien on a multi-family rental property, and business FF&E. The borrower used the funds for a down payment on a multi-building apartment complex and to pay down business credit card debt.

“Leading indicators for our business remain strong, equipment prices are normalizing, and we constantly adapt to the market to ensure we are the best possible resource for our referral partners and customers,” said Michael Kianmahd, Executive Vice President. “While we see a mixed macroeconomic future, we continue to plan for the unexpected and are well-prepared for an unpredictable future.”

Maxim continues to build its infrastructure and is seeking qualified candidates for key positions in its Los Angeles, CA office.