Peeling Back the Layers
In late 2007, the economy had started its downturn and fell apart for everyone at about this time. Suddenly, nearly every bank was avoiding lending, an unusual environment had developed.
In 2008, a small medical care company found itself growing and looking to find the right fit with a good leasing company that understood their needs. The CEO was referred to J.D. Jenks to broker an equipment leasing deal on behalf of the medical company. With J.D.’s 30+ years of experience in equipment leasing and investment banking experience, the medical care company was confident they would find success in securing funding for its growing needs.
Mr. Jenks made his presentation on behalf of the client to 20 different banks/lenders and was told, “No” by each institution he approached. Even banks that claimed to love doing business within the medical industry said, “No.” Even financial institutions who specialized in challenging credits said, “No.” Banks were, as they still are today, limited in their decision making by strict parameters that only allow for unblemished, bankable credit when making a determination.
The experience showed J.D. how companies with good to fair credit were being shut out of the credit market. Global Financial was created by establishing its own equipment lease fund. Now, as a funding source, we are able to peel back the layers of a credit request to uncover value and create a structure that will work to assist small to mid-sized businesses (SMBs) secure equipment leases. Global Financial has the capability to fund both bankable and non-bankable creditworthy opportunities. With his wealth of experience, J.D. Jenks knows that not every less-than-perfect credit story may fit into the credit boxes used by banks and other financial institutions. Global Financial believes a company’s character is more than its credit rating.
“Global Financial has allowed our business the growth we needed and given us an exceptional partner we can count on. Other leasing firms were merely interested in looking for certain numbers to meet in the short term. J.D. understood our business model, why we needed what we needed.”
Mike C., CEO
Medical Care Company
Named in INC 500’s 2011 Fastest Growing Companies