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Pat Hoiby knows that bad things can happen to good people, and he’s in the business of giving those good people a second chance. 


Pat Hoiby knows that bad things can happen to good people, and he’s in the business of giving those good people a second chance. As President of Equify Financial and Equify Insurance, he is fortunate to serve people in this situation every day. 

Equify  LLC, founded in 2011 is based in Fort Worth, Texas, is a multi-faceted, full service company for the construction, transportation and energy industries, offering financial services, insurance products and services, and equipment auctions all in one place. 

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Today, Equify LLC is privately held, employs over 100 people, and shows a projected revenue of $250 million for 2019. It has grown exponentially from its beginnings and Hoiby believes the wide range of products and services offered is what sets Equify apart from its competition. 

“We are a little bit different from most,” Hoiby said. “We are experienced in debt restructuring which allows us to help our clients get capital when they need it. When you are financing companies, you must look at insurance to make sure that our customers are adequately covered. We offer all of the services that our customers need, including: auto, professional liability, workers compensations, as well as, health and benefits.  

“We also have our auctions group – we call it ‘auctions,’ but really, it’s fleet management. Equify is three separate verticals operating as one company, a one-stop-shop for our clients.

As a privately-owned lender, Equify focuses on equipment loans, leasing and revolving lines of credit based on an asset based lending model.  Many of Equify’s clients are equipment rich and cash poor. What does that mean, exactly? It’s Equify’s specialty. Hoiby paints an example. 

“If you go to a dealership to buy a tractor, we can do that deal. (In fact, we’re creating a program for dealers that allows us to turn those deals more quickly.) Three years later, you’ve paid off that tractor and you have a huge job starting, and you need cash to get it started. We’ll go back and look at the tractor you’ve paid off and give you cash against that equipment.” 

Something else the company does well, Hoiby said, is debt consolidation. 

“Cash is king. We consolidate all the client’s debt into one note, extend it out and lower the payments which allows more cash to stay in the business. Because we are privately held, we can be creative.”
Equify’s best-selling product, Hoiby said, is the revolving credit account: “Using equipment, borrow money, pay it back; it’s a true revolving account.”

Equify’s insurance division is an independent insurance brokerage offering commercial insurance. Whether a company is looking for auto general liability, professional liability, worker’s compensation, health and benefits or bonds, again, Hoiby offers one-stop shopping. What tops the best-seller list? Property and casualty, followed by health and benefits, he said. 

There’s no shortage of insurance brokers out there, and Hoiby knows you have to offer something special to stay out in front in the insurance business. We offer in-house risk management and claims advocacy in addition to seasoned insurance professionals who will help you navigate the seemingly complicated insurance programs. 

“The difference between us and big national broker is service,” Hoiby said. “With large brokers, you’re treated like a number. But at Equify, everything we do is designed around personalized service, and because of that, we can save them money. We’re not this giant conglomerate.”

When it comes to buying and selling equipment with Equify Auctions, they utilize three automated sales channels for maximum exposure and return on your equipment. Hoiby explains it this way: 

“In our ‘pre-auction’ inventory stage, there is no waiting. Demand can be satisfied immediately. Any unsold equipment is then introduced to a large database of equipment buyers. Then, if still unsold, equipment enters its final channel, our online auction platform, which provides exposure to a global audience.”

Again, Hoiby stresses that Equify provides a full range of services before, during and after the auction process. The end goal is to provide a simple, less risky way to buy and sell equipment. 

Hoiby doesn’t hesitate when asked about becoming involved with Associated Equipment Distributors. 
“We’ve been in business seven years now, and we’ve been able to refine our processes,” he said. “In the interviews I’ve had with dealer principals, the market seems to be looking for the services that we offer. We can bring efficiency and knowledge to getting things done that AED’s dealer network can’t get through traditional sources.

“We bring a needed value to equipment dealers across the United States and getting involved in AED gives us the platform and the support structure to get our name out,” 
he said. “We’re the guys who give people a second chance.”

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