CG Commercial Finance powers $6.8m of leasing finance

California-based specialist finance and leasing specialist CG Commercial Finance (CGCF) has announced it has provided $6.8m lease financing for various CNC machines to fulfill the increased production requirements of Turbocam.

Turbocam is a global turbomachinery engineering and manufacturing company supplying the aerospace, industrial, automotive, marine, and propulsion industries for over 30 years.

“We at CGCF are honored that an industry leading company such as Turbocam presented us the opportunity to provide financing for their business expansion and equally pleased to be chosen as the preferred financing partner for Turbocam’s ongoing equipment requirements through 2016,” said Scott McCullum, CGCF president.

CGCF said it had been able to provide competitive pricing, the required credit capacity and rapid turnaround despite numerous transaction challenges. These challenges included highly-customized collateral, a clean-up of erroneous lien filings from other finance providers, and progress payments to foreign vendors.

Turbocam’s corporate controller, Dave Zelie, noted: “Many lenders could not get comfortable with this type of modified equipment but CG Commercial spent the time to understand it along with our business history and our high profile clients. Based upon CGCF’s expertise and execution of this transaction we have engaged them again to provide financing for our upcoming capex needs.”