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Drilling equipment company helps customers realize benefits of financing

By Amy Thomas in Industry Trends Posted March 28, 2018

TJM Drilling Equipment & Supply Co. knows that the true value of equipment comes from using it, which is one reason why they offer their customers customized equipment financing from Key Equipment Finance.

TJM_photo.jpgTJM, based in Aliquippa, PA, is a leading and premier provider of drilling equipment for the Construction, Foundation, Micro-Pile, Tie-Back, Caisson, Aggregates, Mining and Gas Well markets. TJM and KeyBank recently attended the International Foundations Congress and Equipment Expo (IFCEE) in Orlando, FL and one of the topics that was discussed with conference attendees was the benefits of financing.

Many prospective customers commented that it was great to see TJM and KeyBank partnering in the same booth at a show of this magnitude. The IFCEE ADSC and DFI Members as well as  Associate Members and customers alike that stopped by the TJM Booth were very surprised and very pleased to see KeyBank teaming up with a top equipment provider. KeyBank was very well received at the IFCEE, they have financed several of TJM’s customers over the past year and every one of them had positive feedback.

"Financing enables your equipment to work harder for you," said TJM President Tom McKelvy.“With fixed monthly payments over a longer period of time, customers can use their equipment to generate revenue while they pay for it”, said Kimberly Powell, Senior Relationship Manager and Vice President, business banking group, KeyBank's Western Pennsylvania region.

"The benefits of financing your drilling equipment include enhanced cash-flow management, 100% financing and simplified processing," said Powell, who also attended IFCEE. She also noted that fast, reliable capital and industry expertise can empower a drilling equipment customer's bottom line. It can also help them to:

  • Conserve working capital and lines of credit
  • Improve budgeting accuracy through fixed monthly payments with no floating rates
  • Avoid large upfront payments with little or nothing down required
  • Match contract length to the expected useful life of the equipment(s)
  • Avoid being trapped with outdated or obsolete equipment. Financing allows you to have the latest drilling equipment and eliminate costly downtime.

“Customers also may realize potential tax benefits”, Powell said.  And, unlike a traditional loan, financing doesn’t require client list reviews, compensating balances, cashflow projections or blanket liens.

Photo: Kimberly Powell, senior relationship manager and vice president, business banking group,  KeyBank's Western Pennsylvania region, and Tom McKelvy, president of TJM Drilling Equipment and Supplies, shared the benefits of equipment financing with attendees of the recent IFCEE in Orlando.

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