Lancaster Development – Civil Construction, Aggregate and Asphalt Production
Northeast
In business since 1947, Lancaster Development, now run by the third generation of the Galasso family, has grown into a large design/build civil construction company. They develop and build bridges and highways and are vertically integrated, providing much of the aggregate and asphalt required in their projects.
A long-established, family-owned construction company faced cash flow problems and needed working capital to bridge the gap between projects. CLF refinanced its equipment to provide the cash influx it needed to get through the lull in business activity.
Coming out of the 2022/23 winter off-season, Lancaster Development had projects lined up, but due to budget cuts at the state level, the spring projects were canceled. They had later projects in their pipeline, but those wouldn’t generate cash in the short term. This led to a significant cash flow issue. They needed a way to bridge the longer-than-anticipated incoming revenue gap.
They met with their bank, and like most traditional lenders, the bank didn’t understand the long-term view of their upcoming projects, so they were unable to provide a solution to their short-term problem.
Lancaster had used CLF to finance some of their previous equipment purchases, so they reached out to discuss the situation. Unlike the bank, CLF was willing to look at the problem holistically. The Lancaster owners met with the CLF team, including the credit analysts, and provided a complete overview of the business, the book of upcoming projects, and the equipment fleet. With this information, the underwriting team was able to see beyond the financial statements, balance sheets, and short-term cash flow projections. Together, they crafted a plan to refinance some of Lancaster’s existing equipment, providing enough working capital to see them through their revenue lull.
By refinancing their existing equipment, Lancaster Development received an infusion of cash that allowed them to meet their financial obligations and continue running their business without having to lay off employees or sell any equipment. This ensured that they had the resources necessary to meet their upcoming project contracts and continue bidding on jobs to ensure their long-term success.
We finance a wide range of equipment, including trucks, trailers, construction machinery, industrial tools, computer servers, medical equipment, and even specialized equipment for niche industries.
Yes, we finance both new and used equipment, including gliders and older trucks that have undergone recent rebuilds.
We work with all credit types and are proud to offer financing options even for new businesses or those with less-than-perfect credit.
Our streamlined process allows for quick approvals, typically within 24 to 48 hours, so you can get your equipment faster.
We offer a variety of solutions, including traditional leasing, loans, working capital, cashout loans, and factoring services—all tailored to your specific business needs.
Generally, we require personal and business information, proof of income, credit history, and details about the equipment you’re interested in financing
Our rates and terms are competitive and customized based on each client’s profile. We’ll provide detailed information during the consultation process.
Absolutely. We specialize in supporting new businesses as well as established companies with our flexible financing options
Yes, we provide refinancing solutions, including sale leasebacks and working capital loans, to help unlock cash flow on existing equipment.
You can easily apply through our online application form. Simply select either the Truck Credit Application or the Equipment Credit Application, and fill out the required details to get started.
Ready to take your business to the next level? Contact Commercial Lease & Finance Corp today and explore the best financing options tailored to your needs. Whether you’re a startup looking for your first round of funding or an established business seeking to expand, we have the expertise and resources to help.
At Commercial Lease & Finance Corp, we empower your business growth with flexible, asset-based and smart financing solutions designed to address your unique business needs. From industrial equipment to commercial real estate, our swift approvals and nationwide support fuel your expansion and spark innovation.
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