Based in Norfolk, Virginia, Ironworks Trading Corp specializes in the sale of used telehandlers, including such big equipment brands as JCB, JLG, Caterpillar, Genie, and Terex.
With decades in the industry, Ironworks is known for their knowledgeable sales staff and buying, selling, and trading of quality machines, with almost 95% of its business being retail sales.
Prior to Currency, Ironworks processed $5,000 – $10,000 monthly (primarily for down payments, parts, and light service charges). Their biggest pain point was limited payment options that led to spending too much time and effort finding alternative methods to secure payment and, in many cases, losing potential sales.
Currency was recommended to Ironworks president Jon Bordeaux after talking with a friend at Machinery Trader. And once Currency went to work for Ironworks it didn’t take long for their payment problems to find a solution.
“We sold our first telehandler for $20,000 with a credit card within the first month,” said Jon, “and since we’ve processed around $36,000 a month, which is a 414% increase from before!”
Providing preferred payment processing wasn’t the only way Currency has helped Ironworks improve sales.
“Just last week a customer wanted a $59,000 telehandler and had a $5,000 trade-in. He applied online through the portal that I have installed on my website’s “Finance Page” was approved, invoiced, doc-u-signed, insured, and paid all in the same day!” raved Jon.
“We’ve also started using CurrencyPay as our credit card processor, so we can count on a fixed rate for every transaction, whether point of sale or taken over the phone. No more monthly junk fees, just a straight up percentage. Very simple. Why didn’t someone think of this type of solution before?!?”
And Jon has found Currency has streamlined their payment process and provided something even more valuable. “I love the way you guys have figured out what dealers and customers need: speed,” said Jon. “No faxing, no overnighting, no waiting for the customer to provide a cert of insurance or sending a check in snail mail. Just a whole lot of wham, bam, thank you ma’am!”
Plus, with Currency’s financing rebates, Ironworks processing fees are at 0% — a 100% reduction!
“I must admit, I am addicted to the juice. A lot of companies give spiff on deals, but you guys rebate us on our credit card processing as well,” said Jon. “Some months we’re getting our credit card fee’s refunded! That’s amazing!!!”
Jon has found Currency has helped improved both sales and the way Ironworks does business in a significant way.
“Since Currency has come on board, we’ve probably funded 50 deals and I couldn’t be happier. From application submission to payout, you have the best system with the least amount of drag time,” Jon said. “After being in the construction equipment business for 35 years, you guys at Currency have wowed me. Keep up the great work and keep on innovating your way to a better future for us dealers and our customers!”