Manufacturer Invests in Mission-Critical Equipment with a Lease Line

Wright Plastics, a custom injection molder, was looking to invest in three new press machines to expand their automation capabilities and fulfill incoming auto manufacturer contracts. Given the large investment and long lead time required to obtain the specialized equipment, they needed to secure financing quickly to keep the project on track. Although numerous finance providers were available, Wright Plastics sought a lessor who not only had manufacturing industry experience, but also cared about developing a long-term relationship.

– Marvid Schneider, Controller, Wright Plastics

First American worked with Wright Plastics to structure a lease line, which gave them the flexibility to finance various types of equipment and meet the needs of their growing business. Using the lease line, Wright Plastics financed the presses across multiple schedules aligned to the equipment delivery timeframe, and First American made the necessary progress payments required by the vendors. 

From start to finish, First American’s client service and best-in-class technology made the leasing process easy for Wright Plastics. A dedicated First American Project Manager worked with more than a dozen equipment vendors and helped Wright utilize their online account to track project schedules and download invoices.