Maxim Commercial Capital (Maxim) announced a strong start to 2024. The hard asset secured lender provided equipment purchase and cash out financings in 31 states during the first quarter of the year. Maxim is a national provider of loans and leases from $10,000 to $3 million collateralized by Class 6 and Class 8 trucks, trailers, heavy equipment and real estate.

“We are deeply committed to serving our clients and referral partners with breadth and depth,” said Michael Kianmahd, Maxim’s CEO. “Maxim excels at providing essential financing to borrowers who don’t fit traditional lenders’ guidelines. We continuously invest in analytical tools and processes to understand how best to support their needs.”  

Owner operators of used class 8 trucks, including startups and borrowers with challenged credit, benefitted from higher loan-to-value ratios from Maxim during the quarter. Transactions included financing for: a start-up owner operator with good credit to buy a 2018 Freightliner Cascadia 125 with 597K miles for 20 percent down on $44,235; an experienced owner operator with challenged credit to buy a 2019 Kenworth T680 with 433K miles for 23 percent down on $38,000; and an owner operator with challenged credit to buy a 2018 Freightliner Cascadia 126 with 466K miles for 25 percent down on $45,386.

Finance brokers increasingly turned to Maxim during the quarter for customers seeking to finance heavy equipment purchases or cash out financing to grow their businesses. Fundings during the quarter included: a creative $25,000 sale leaseback of a 100 percent owned 2014 Freightliner Cascadia Tri-Axle Dump Truck so a start-up serving the commercial hauling and construction industries can expand his business; 60 percent financing for a New Jersey-based buyer with a prior bankruptcy to buy a 2023 Case TR310B Skid Steer; and, 50 percent financing for an Arizona-based contractor to purchase a 2024 Brazos 40’ Pit Boss Belly Dump to haul dirt and gravel.