XCMG Forms Partnership with QuickFi to Finance Construction Machinery Equipment

XCMG America Financial formed a national partnership with QuickFi by Innovation Finance USA to finance Xuzhou Construction Machinery Group (XCMG) equipment in the United States.

XCMG’s equipment available in the United States includes compactors, excavators, graders, wheel loaders, and MEWPs. In 2022, XCMG was ranked as the third-largest construction equipment company in the world for the second consecutive year by KHL Group’s Yellow Table.

QuickFi’s patented technology will enable qualified XCMG equipment buyers to obtain nearly instant, low, fixed-rate term equipment loans and leases ranging from $5,000 to $5 million. The XCMG-QuickFi platform will use new technologies, such as drivers’ license verification and authentication, artificial intelligence/machine learning, blockchain and other advanced mobile and cloud technologies, providing XCMG customers with 24/7 self-service equipment financing not available from XCMG’s competitors.

‘In 2021 XCMG announced a big investment in the United States. Part of this investment will establish an XCMG captive finance company to provide financing and leasing solutions to XCMG dealers and customers in the United States,’ Gengzong Qiu, CEO of XCMG America Financial, said. ‘By partnering with QuickFi, XCMG’s U.S. customers will obtain fast, transparent, borrower-friendly financing and equipment leasing from XCMG America Financial on a 100% digital, borrower self-service equipment financing platform. We look forward to complementing the superior design and engineering of XCMG’s products with the industry’s most advanced business equipment financing program. We also look forward to a long-term partnership with the QuickFi team.’

‘XCMG is one of the world’s largest construction equipment companies and is committed to “advanced quality, efficiency, performance and sustainability.” XCMG demonstrates a commitment to exceeding current industry practices by adopting and implementing the latest financing technologies for XCMG customers,’ Bill Verhelle, CEO of QuickFi, said. ‘We are honored to partner with such a successful, forward-thinking organization.’