Chevron Equipment Finance is helping educate businesses in the quarrying sector about the versatility of equipment financing.
Jake Sibenaler knows equipment inside and out after spending years as a production supervisor and manager, a maintenance fitter, and an improvement manager within the quarrying sector.
In fact, most of Chevron Equipment Finance’s team have years of experience, which enables them to understand what customers require. So, when quarry operations need finance, Chevron Equipment Finance knows what to look for and how to help.
It’s why Chevron Equipment Finance, which began in a small garage, has expanded to several locations across Australia, with the main office on the Gold Coast and an office in Melbourne, in just over a decade. The company employs 22 brokers, four training brokers, and 10 administrative support staff.
“We only specialise in equipment, so we understand these industries really well,” Sibenaler told Quarry.
“I know what these guys are going through. I’ve operated the machinery, and I understand the profit-and-loss systems for quarries because I’ve been a [second-in-command], so I know the implications of when a machine goes down.
“And that’s all of our guys as well, they’ve been in the industries, and they sit down with our customers to really understand their problems.”
It’s this level of industry experience that has helped Chevron Equipment Finance work with customers through a variety of problems by delivering quick, efficient solutions.
Chevron’s team has supported operators through it all, with the majority of the company’s customers involved in quarrying, earthmoving, construction and transport.
“It all comes back to understanding the business and understanding the environment that they’re operating in,” Sibenaler said.
Chevron Equipment Finance takes a tailored approach to financing, so operators can avoid potential headaches later down the track. That includes tailoring the loan to maximise the customer’s cash flow period through tools such as no upfront deposit, smaller repayment amounts, longer payment terms, and balloon payments at the end.
Sibenaler said equipment financing can open up more opportunities for operators when applied correctly to their businesses.
Sibenaler uses the example of a $300,000 excavator. If the business were funding the purchase from its generated profits, it is important to consider the amount of top-line revenue it would need to generate in addition to fund the equipment purchase. Whereas, if the purchase was financed, the business would retain its $300,000, which can be deployed in other areas of the business or in emergency situations, such as an engine needing an unexpected replacement.
“I think people’s mentalities are changing around financing, and that’s been an important part of educating the industry,” he said.
“We’re very customer-oriented in that sense, we’ll travel anywhere in Australia to meet a customer and see how we can help them and their business. We’ll always do the best by them because we want to be a lifelong partner for their business.” •
For more information, visit chevronfinance.com
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