AP Equipment Financing, a leading provider of flexible financing solutions for unmanned aerial vehicle (UAV) manufacturers and operators, has released a case study outlining how their flexible financing solutions can help larger businesses that are looking to acquire and utilize UAVs and related equipment in order to undertake significant contracts and projects.
GRS Engineering Services is a 50-year-old engineering firm that was recently awarded a contract with the State of Pennsylvania to inspect railway routes and inventory traffic crossing assets with a contingency that put them on a very tight schedule. While GRS has the knowledge, expertise, and experience to coordinate the normal acquisition of necessary equipment and software, this particular project would require the company to acquire 3 UAVs and to make a significant investment in post-processing software.
Once the system configuration was complete, the cost had risen to $175K. GRS typically used cash for equipment purchases but this contract was not budgeted due to the quick turnaround required, so final purchase authorization would have been required at the home office. However, the regional office executive responsible for managing this project could approve up to $5,000 a month for rental or lease payments. GRS’ longterm equipment provider had partnered with AP Equipment Financing to provide financing for UAV systems and other related surveying and mapping gear.
Due to the tight time frame, GRS needed an executed finance contract within 2 days and their dealer would need to be funded in advance to properly configure the systems. AP Equipment Financing utilized electronic loan documents and provided 100% pre-funding to the reseller within 48 hours to get the UAVs and payloads properly configured. GRS also chose to bundle training and extended warranty costs into the financing, thus further reducing their out-of-pocket cost. AP’s unique knowledge of the UAV industry, in addition to their efficient E-Document system, allowed for extremely quick turn-around, securing GRS’s equipment and solidifying their contract with the State.
For businesses that utilize drones or are looking to acquire them to boost capabilities and stay competitive, AP Equipment Financing can offer simple, hassle-free equipment financing options for a single unmanned aircraft or an entire fleet with fast turnaround times. Financing UAVs can help you conserve cash, build business credit, reduce tax exposure, and allow you to stay competitive in your industry with up-to-date technology and software. To find out more about AP Equipment Financing and their UAV financing solutions, please visit their website: www.apfinancing.com.