The Situation: Towing & Recovery Client Faces Difficulty Buying New Light Duty Wrecker
Ongoing inventory shortages made it difficult for a towing and recovery business client located in Hawaii to find a light duty wrecker to add to their vehicle fleet. The client turned to their Equipment Finance expert at First Business Bank for ideas. With nationwide industry connections, our team jumped in to help.
- Supply Chain Issues – Our Hawaii client was searching for a tow truck through their regular sources on the West Coast, but was unsuccessful and wasn’t sure how to proceed. Ongoing supply chain and product shortages made it difficult for our client to obtain the light duty wrecker vehicle they needed to grow their business.
The Solution: Benefits Of Equipment Acquisition With First Business Bank
During the discussion, the towing and recovery client and their First Business Bank Equipment Finance expert realized they’d both be attending the Professional Wrecker Operators of Florida (PWOF) Tow Show in Orlando, Florida soon. A match-making solution began immediately.
- Industry Connections – Our Equipment Finance expert offered to help the client shop at the PWOF Tow Show. First, our expert started by discussing the client’s light duty wrecker truck needs with industry contacts. Next, First Business Bank quickly opened a credit request for the client to obtain an open approval for a pre-determined credit amount, allowing the client to shop quickly and confidently at the trade show.
- Smooth Purchasing Process – While the client traveled from Hawaii to the PWOF Tow Show in Orlando, our Equipment Finance expert worked with several contacts to determine tow truck availability and cost. We located a suitable light duty wrecker through a distributor contact, and when our client arrived at the PWOF Tow Show, our First Business Bank expert introduced the client to the distributor representative to finalize the tow truck sale.
The client bought the truck, the distributor made a sale, and First Business Bank provided the client with easy equipment financing, as well as a very satisfying client experience.