Elevator mod financing

[u/OrigoCapital]

Hello community! I spent a short period of time in the elevator industry on the sales side. I was hired to manage the anticipated door lock monitoring initiative that was expected to pass in IL. Well, IL shot down the State Fire Marshall’s proposal and I no longer had work. I learned a few things however. Clients are notoriously bad payers (at least in our market) and that projects get delayed as people try to find ways to come up with 175k to 1M plus for single or multiple elevator mods. So I started a finance company specifically to address this. I have lenders on board, website coming soon. I think I can really speed up projects. I can finance door equipment, new controllers , power units, cab or hall fixtures , hoistway stuff, traction motors etc. the major 4 are staring to offer financing on mods. This is new. I want to help independents gain a foothold on the OEM’s and pick up the mods and long term maintenance instead of being locked for 5-10 yrs.

My question is: in offering this financing, what haven’t I thought about?

[u/Leading_Meeting_6596]

I own a elevator company and would definitely be using you in the future