Maxim Commercial Capital Funded 664 Transactions in 2019

Maxim Commercial Capital (“Maxim”) announced today it finished 2019 with the busiest December in the company’s eleven-year history and funded 664 loans to small and mid-sized businesses (“SMBs”) during the year.  Maxim lends $10,000 to $3,000,000 secured by heavy equipment and real estate to facilitate asset purchases, enhance working capital and to refinance expensive short term debt. 

“We continued to invest in our team during 2019 by adding a Director - Broker Relations, a Chief Financial Officer and two additional members to our portfolio management department,” noted Michael Kianmahd, Executive Vice President of Maxim.  “Our newest team members integrated seamlessly into the company to further optimize our relationships with borrowers, finance brokers, truck vendors and finance partners.  With our expanded team, we are on a solid trajectory to meet the financing needs of a record number of SMBs in 2020.”

Maxim partners with finance brokers and used truck vendors across the U.S. to finance borrowers who need capital quickly or are not bankable due to credit challenges, incomplete financial data, past bankruptcies or lack of business history.  Over 2,000 finance brokers have submitted financing applications to Maxim since 2009.  The company’s sales representatives maintain relationships with over 1,500 used truck vendors nationwide. 

The largest transaction Maxim funded during the year was a $2.0 million, 60-month term loan secured by 2nd liens on six commercial real estate properties in San Antonio, Texas.  This structured financing provides the growth capital the business owner needs while minimizing his overall cost of funds by leaving favorable 1st lien financing in place. 

The smaller transactions funded during the year facilitated heavy equipment purchases of yellow iron and Class 8 and Class 6 used trucks for owner-operators with challenged credit.  Despite contraction among other lenders in the market during the year, Maxim consistently provided same-day approvals and processed a record number of submissions in December 2019. 

“By adapting our underwriting guidelines to market conditions and managing around changes in used equipment values in 2018 and 2019, we avoided the portfolio problems faced by some of our competitors,” noted Behzad Kianmahd, Maxim’s Chairman and Chief Executive Officer who has over 20 years of industry experience.  Closed transactions included 75% purchase financing of a 2016 Kenworth T680 retailing for $71,101 for an owner-operator with limited experience and outstanding medical bills.  Maxim also helped numerous start-up owner-operators purchase their first rigs, such as a 2016 Freightliner Cascadia valued at $65,980, with financing packages that cover 100% of the cost of 24 month/200,000 mile Premium 2000 comprehensive warranties.

Maxim continues to expand its team to support the company’s growth.  Visit Maxim’s website to review current job openings.

About Maxim Commercial Capital

Maxim Commercial Capital helps small and mid-sized business owners seize opportunity by providing financing in amounts up to $3,000,000 secured by heavy equipment and real estate.  Maxim facilitates equipment purchases, provides working capital and refinances debt for companies across all industries located nationwide.  Through Maxim’s tailored financing programs, businesses unlock capital tied up in underleveraged assets, often replacing expensive short-term debt and daily repayment working capital loans with longer term capital. As a leading provider of transportation equipment finance, Maxim funds up to 75% of the acquisition cost of used 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.

Contact:          

Michael Kianmahd
Maxim Commercial Capital
michael@maximcc.com
(213) 984-2727