Execucor Financial Limited

Financial Solutions for the Long Haul

“While we provide transportation and equipment financing for businesses of any size, our focus has remained with the little guy. They are the backbone of the economy — the guys who drive their own truck and who need the access to financing to be easy, fast, and as straightforward as possible.” — Eric Knight, President

Celebrating 30 years since its inception, Execucor Financial Limited is one of the oldest brokerage firms in Canada providing lease financing for new and used equipment.  The firm arranges financial solutions for businesses of all sizes, from coast to coast, but ultimately focuses on smaller businesses – a sector that can have difficulty receiving the best value from traditional lending sources.

Execucor possesses the knowledge, experience and lease financing resources that can secure capital to help their clients succeed.  With access to some of the largest lenders and the lowest interest rates in Canada, Execucor has helped thousands of Canadian entrepreneurs, businesses and corporations to realize their goals.

“In 1983, when I founded Execucor Financial Limited, I believed that all small businesses, if properly presented to the right lender, should be successful in obtaining the financing they require. Today that belief is a reality. For over 30 years, we have been successfully matching the financial needs of our customers with our many sources of capital,” President Eric Knight states on the company website.

The Canadian Business Journal spoke with Knight in more detail about the leasing industry and the firm’s commitment to its clients. “When I started Execucor, I realized there was an unfulfilled need for equipment vendors, who did not have a financing service in place for their customers, and for customers who were looking for someone to finance their equipment purchase. So the idea behind Execucor was to help both the vendors and the buyers, and that is the core of our business to this day.”

Lease Financing

Lease financing, an alternate form of lending, offers many benefits to business owners and is especially advantageous in tax planning. Execucor provides lease financing from $10,000 to over $1 million for new and used equipment. The firm currently arranges financing for the transportation, construction, manufacturing, waste management and hospitality industries.

Transportation Financing

Execucor is an expert in transportation financing. Single truck owners to large fleet operators require flexible and fast financing, whether it’s to purchase equipment for a new project, or simply replace outdated vehicles.  While customers may seek a similar service – such as a transport truck — every client’s financial situation differs, thus Execucor does not use a cookie cutter approach. “We work with the client to find the best solution available.  Every business is different. They require different types of trucks, they haul for clients with different pay schedules, they have different down payment abilities, and they seek different terms, and so on. We provide solutions effectively and fast, most often within 24 hours,” states Knight, “because each day the client does not operate, the client is not earning money.” Execucor has successfully helped single owner operators grow their business into significant fleet operations by arranging lease financing on purchases of highway trucks to trailers to dump trucks and everything in between.

Knight credits Execucor’s longevity to the firm’s ability to adapt to client needs. “Our business focus has always been servicing, understanding and staying tuned to our customers. By offering more flexible products and diversifying into additional financing areas we can provide better service on a continual basis.”

Insurance and invoice factoring are two such areas of diversification that has helped both Execucor and its clients. Insurance offers peace of mind and protection from loss of income due to disability or illness – a small business owner’s nightmare. Factoring is a financial transaction where a business sells its accounts receivables to a third party (the factor) at a discount. This transaction allows the company to receive its monies sooner. As Knight explains, a small transportation owner/operator may wait for upwards of 60 days for payment of goods hauled, and factoring can alleviate this cash flow issue. “This is why we stay in touch with our customers, to see whether they may require such services as they work to grow their business. We keep an eye on the marketplace for any new solutions that may be available.”

Financing can be difficult and a bureaucratic headache for small business owners. Traditional financing sources, such as banks and credit unions, may take too long and not provide the best financing terms. This is where the Execucor team steps in and seeks out alternate financial solutions. “We have funding partnerships that many of our competitors do not, and we are able to provide financing to those who may have credit challenges. Our belief that everyone should be able to receive financing, coupled with our can-do attitude, is the backbone of our success and growth,” says Knight.

2012 was Execucor’s best year on record, and the company continues to grow. “We have established solid long-term relationships with lenders, equipment vendors and customers, while our team provides exceptional service. Service is what it all comes down to. With this solid foundation and commitment to our customers, we are looking to expand exponentially, providing financial solutions for the long haul.”