Equify Risk Solutions recently saved an Equify Financial energy services customer $280,000 annually on insurance.
About the Customer
The business specializes in fracking sand hauling in Texas and Louisiana. The customer started out as an owner-operator working independently, building his business to a $14 Million AGI over 15 years, adding to his fleet as the business grew.
Equify Financial Solves for Equipment Purchase, Cash Flow
The customer was referred to Equify Financial for the purchase of six trailers to expand their hauling fleet and grow the business. The company’s local Equify Financial representative worked with them to develop a debt schedule, which revealed an opportunity to reduce large monthly payments through a blended debt consolidation and equipment financing solution.
Equify Risk Solutions Lowers Insurance Premiums
After 10 years without an insurance claim, the company’s insurance premiums were about to debilitate it. They already totaled $2-3 Million annually, and premiums were set to increase 30-40 percent—a potentially business-crippling expense.
While the team at Equify Financial worked to help the business owner purchase equipment and pare down payments, their local rep arranged a meeting with an Equify Risk Solutions insurance expert to address the looming premium increase. Leveraging key industry relationships and a network of insurance providers, Equify Risk Solutions presented the customer with an insurance package that saved him more than a quarter of a million dollars per year.
“No bank we’ve ever done business with has been on our side,” the customer told his Equify Financial rep in a grateful email. “I can’t tell you how much I appreciate a fresh perspective, with an all-encompassing finance and insurance solution.”
We Find Solutions That Work
The Equify family of companies specializes in finding solutions that help business owners save money, improve cash flow, and continue growing their businesses. We get to know our customers so we can create customized solutions that offer more, and we build long-term financial relationships in the process. Get in touch with your local Equify Financial representative, or reach out directly to Equify Risk Solutions, to learn more about how our team can help your business save money and grow with solutions built just for you.