Beacon Funding is recognizing Global Sign & Awning for utilizing boom truck financing to advance its business growth. The lender financed 2 boom trucks, one bucket, one sign boom, and financed the sale of a used boom truck for Global Sign & Awning.
Beacon offers flexible financing programs for businesses acquiring boom trucks because of a full understanding of the equipment's collateral value, as well as a variety of other equipment markets.
"Financing allowed us to not only service more clientele, but also do it more efficiently and with more ease," Chris Wicks, the owner of Global Sign & Awning says.
Established in 2007 in Clearwater, FL, Global Sign & Awning is a sign business offering sign design, production, installation, and maintenance services for commercial businesses in the greater Florida area.
Global Sign had two boom trucks, but wanted to upgrade their equipment due to increased business. In early January 2015, the owner applied to finance an 8-year-old sign boom truck with Beacon Funding and was quickly approved, but thought the approval would not work for him.
After the owner shopped around for financing and negotiated terms over the next 60 days, they came to an agreement and funded the acquisition of the truck. Beacon earned his trust with being upfront about what it was going to take to get financing.
The following month, Wicks sold a bucket truck that he was replacing, recommending Beacon to his potential buyer for financing the non-dealer sale of that older bucket. Once he was funded by the lender for his sale, he financed his acquisition of another bucket truck for his business with Beacon, as well.
"We wouldn't have been able to do most of the jobs we do without the new equipment we financed, the sign boom truck. It's the Rolls Royce of the sign industry," Wicks says.
Global Sign & Awning's business revenues have increased approximately 25% since they financed the sign boom truck in April 2015. Having enjoyed the increased business after financing, Wicks decided to continue the expansion and was approved for a digger derrick truck with Beacon. This allows him to eliminate another subcontractor and increase his profits even further.
To showcase this rapid expansion, Global Sign & Awning agreed to participate in Beacon Funding's Success Spotlight Program. In more than two decades, Beacon Funding has worked with many clients that have not only used equipment financing to their advantage, but also have utilized it as a business practice to improve volume and increase market reach. The Success Spotlight program highlights these businesses in order to share best practices and provide real-life examples of how equipment financing can foster business growth.
Beacon Funding features participants of the Success Spotlight program on its website and through a variety of marketing and public relations efforts.