Brazos Tractors & Equipment

Like lots of companies during this recent recession, Brazos Tractor & Equipment —a Texas retail outlet that also sells lawn mowers, farming and heavy-duty outdoor equipment—was going through a rough patch. People just aren’t buying a lot of big-ticket items like they used to, which impacts the bottom line for retailers and manufacturers alike.

“We just didn’t have any cash flow to go forward with a lot of the things we needed to do,” said Mamie Marow, a representative for Brazos. “At that point, we were grasping at straws.”

Five Point Capital Offers Multiple Financing Options

According to Mamie, one of the owners of Brazos had made contact with Five Point Capital several years earlier about equipment leasing, but at the time it was only exploratory. However, at this point Brazos couldn’t risk losing their entire line of products due to lack of cash on hand. They settled on FPC to explore financing options.

“I don’t know what we would’ve done without John,” said Mamie, referring to FPC Account Representative John McKenzie. “He was so nice to us. He understood our pain. We don’t get that kind of service from our bank. He even warned us that we might have to prepare to explore other avenues, but he handled it like it was his own problem.”

“When I first got the call from Mamie, she made it clear that they were facing some severe challenges and that time was of the essence,” John concurred. “I could hear the concern in her voice. I made it my priority to get their application submitted to underwriting and get them a decision as soon as possible.”

Quick Approval on Working Capital

The following business day, John called Mamie back to let her know that Brazos was approved for $99,000 in working capital, and that the money would be in their account by the end of that week.

With only a handful of dealers that Brazos works with, the company was not only able to keep their doors open, but they were also able to save credibility with their manufacturers. Things are picking up for them now, so much so that Brazos has already paid back over $5,000 because of the additional inventory and brisker sales.

“We wanted to start paying back early because we might want to work with Five Point Capital Again,” said Mamie.

“I find it extremely rewarding to be able to provide solutions to help stabilize and grow businesses like Brazos,” said John. “When I told Mamie that the transaction funded and that the $99,000 was in her account, it sounded like the weight of the world had been lifted from her shoulders.”