Dynapac North America Partners with First Citizens Bank for Enhanced Vendor Financing Solutions

New Financing Agreement Between Dynapac North America and First Citizens Bank

In an exciting development for the road construction industry, Dynapac North America LLC has announced a new vendor finance agreement with First Citizens Bank Equipment Finance. This collaboration aims to provide Dynapac's customers with effective leasing and lending solutions as they acquire the necessary road construction equipment.

Dynapac's Background

Based in Fort Mill, South Carolina, Dynapac is a prominent player in the global manufacturing landscape, specializing in equipment specifically designed for road construction and compaction. Their innovative product lineup includes asphalt rollers, pavers, feeders, and various lightweight machinery. As a subsidiary of the French Fayat Group, Dynapac combines international expertise with high operational standards to deliver quality solutions to its customers.

Purpose of the Agreement

The recently launched finance agreement is designed to bolster Dynapac’s dealer network and distributors by offering financing solutions either through leasing or buying options for road-paving equipment. This initiative is expected to streamline operations in the road construction sector, ensuring that projects can be completed quickly, safely, and cost-effectively.

Yann Monnet, the President and General Manager of Dynapac North America, expressed enthusiasm about the partnership, stating, “Dynapac's compaction and paving solutions enable contractors to achieve high-quality and consistent results. Collaborating with First Citizens Equipment Finance allows us to provide more flexible financing options for dealers and customers to acquire the equipment needed to operate and grow their businesses.”

Benefits for Dealers and Distributors

One of the major advantages of this new agreement is the tailored financing program that will be available to Dynapac's dealer network and distributors. This program focuses not just on retail financing, but also on rental financing options tailored to their specific needs. By enabling more accessible financing avenues, this partnership helps enhance the procurement process for all those involved in road construction projects.

Harold Ray, who leads the construction segment at First Citizens Bank Equipment Finance, highlighted the importance of Dynapac’s reputation in the industry. He remarked, “Dynapac is a trusted provider recognized for its engineering quality and robust dealer support. This vendor program allows us to provide its dealer network and distributors with a tailored retail and rental financing program to find the equipment that best fits their needs.”

First Citizens Bank Overview

First Citizens Bank has established itself as a leading financial institution that caters to personal, business, and commercial clients. Their extensive range of services, along with their unique approach toward building long-term financial strength, makes them a reliable partner for businesses across various sectors. With over $200 billion in assets, First Citizens Bank is not only recognized for its service quality but also for its innovative approach to banking and client engagement.

The Equipment Finance group of First Citizens encourages original equipment manufacturers and small to mid-size businesses to explore their financing solutions, offering support through a highly proficient team, advanced technology platforms, and competitive structuring expertise.

Conclusion

The partnership between Dynapac North America and First Citizens Bank marks a significant step forward in providing enhanced financial options for businesses operating in the road construction domain. Through tailored financing solutions, they aim to support the growth and efficiency of contractors, ensuring high-quality results in road construction and maintenance projects. This agreement sets the stage for future collaborative initiatives focused on innovation and top-notch customer service in the construction sphere.