Maxim Commercial Capital Expanded Truck Financing Program in Q3 2022

Hard-asset based lender launched new risk-based scoring model 

LOS ANGELES, CALIF. (Oct. 13, 2022) – Maxim Commercial Capital (“Maxim”) expanded its target market with positive results during the third quarter of 2022. 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% 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% down by an experienced California owner-operator; a 2018 Freightliner Cascadia Day Cab purchased for $79,250 with 28% down by a start-up owner-operator in Maryland with a dedicated Amazon route; and a 2017 Freightliner Cascadia purchased for $79,170 with 31% down by a start-up with marginal credit.

Maxim continued to close structured real estate secured transactions during Q3 2022, 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,” noted 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, Calif. office. Learn more by visiting Careers on Maxim’s website, www.maximcc.com.

About Maxim Commercial Capital

Maxim Commercial Capital helps small and mid-sized business owners seize opportunity by providing financing in amounts from $10,000 to $3,000,000 secured by heavy equipment and real estate. Maxim facilitates equipment and real estate purchases, provides cash out financing for growth and working capital, and refinances debt for companies across all industries located nationwide. As a leading provider of transportation equipment finance, Maxim funds up to 80% of the acquisition cost of class 8 and class 6 trucks, trailers and reefers for owner-operators and small businesses. Learn more at www.maximcc.com or by calling 877-776-2946.