Procuring millions in capacity to finance new IT equipment
A multi-billion-dollar privately-owned lending firm, needed to secure $100 million in financing to purchase new IT equipment. They initially received approval for financing but were later rejected due to circumstances beyond their control leaving them nearly $50 million short. They needed to find a solution to this problem quickly, as the new equipment had been delivered but remained unfinanced.
To solve this issue, the firm turned to The Alta Group for assistance. Alta worked with the firm to arrange new financing and structure the transaction in a way that would be suitable for lender underwriting. They discreetly approached several candidate lenders and secured mutual non-disclosure agreements to protect the transaction structure and confidential financial information. Alta provided shuttle diplomacy to help forge a mutually satisfactory finance agreement. Over the course of 18 months, they approached five equipment finance firms, who provided approvals, documentation, and funding. In total, the lending firm was able to secure over $150 million in financing for equipment in 36 locations in 12 countries.