May 1, 2018
Founded over a decade ago, VAC Global, Inc. is a heavy equipment wholesaler owned wholly by the principal, Ven Raju. The company currently operates in Wilmington, Delaware with its equipment manufactured abroad and then stored domestically in a New Jersey based warehouse. From there, VAC ships its equipment throughout the United States and to some customers abroad. Through a combination of both unique relationships with its manufacturers and a series of specialized designs on its machinery, VAC is able to offer both superior quality and a competitive price as compared to industry peers. That said, the company approached GAF due to the long days inventory that it carries as it manufactures equipment, ships & stores it and then transports the product to its clients. Specifically, VAC sought a lender that could offer long-term, low-cost debt with no teaser rates or balloon payments. It also sought to refinance a series of high rate, short-term facilities that it carried on its books.
Altogether, GAF was able to provide $930,000 in funding through a combination of working capital and debt refinance over a 10 year period. Similarly, it was able to offer a 4.0% fixed rate for the lifetime of the loan.