LBX Co. LLC, Lexington, Kentucky, has formed LBX Capital in an alliance with Sumitomo Mitsui Finance and Leasing Co. Ltd. (SMFL), based in Tokyo, with offices in New York and San Francisco. The financial services organization will provide retail and wholesale financing exclusively for Link-Belt excavators, material handlers and forestry machines sold in the U.S.
According to LBX Co., “LBX Capital will offer a comprehensive financing program with some of the best financing rates in the industry, including more competitive lease residuals with 24-month term options.”
The company adds that dealers and customers can expect higher approval rates for customers with weaker credit. Additionally, LBX Capital will offer faster processing speeds, supported by a field sales support team dedicated exclusively to the LBX Capital program.
“This is a significant milestone that will provide our dealers and customers with competitive financing tools and will support our company growth,” says Eric Sauvage, president and CEO of LBX Co.
LBX Co. manufacturers Link-Belt hydraulic excavators, scrap/material handlers, demolition equipment and forestry equipment, which are sold through an independent dealer network located throughout North and Latin America. LBX Co. is a subsidiary of Sumitomo (S.H.I.) Construction Machinery, Chiba, Japan.