Manufacturing & Engineering Finance
Manufacturing and engineering equipment finance refers to the financial services and solutions provided to businesses in the manufacturing and engineering sectors for acquiring, upgrading, or leasing equipment and machinery. This type of financing is essential for companies that require specialized tools and machinery to operate efficiently.
Key features of manufacturing & equipment finance include:
Term Loans: Businesses can secure term loans to purchase equipment outright. These loans have fixed interest rates and a set repayment period.
Equipment Financing Loans: These loans are specifically designed for acquiring machinery and equipment. The purchased equipment serves as collateral, making it a secured loan.
Finance Leases: Similar to a loan, finance leases often transfer ownership to the lessee at the end of the lease term. The lessee may have the option to buy the equipment at a predetermined price.
Government Programs and Incentives: Some governments offer financial incentives, tax credits, or subsidies to businesses investing in certain types of equipment. Exploring these programs can help offset costs.
Collateral and Credit Considerations: Lenders often use the equipment itself as collateral, making the financing more secure. However, the borrower’s creditworthiness and financial stability are also factors in the approval process.
Customized Financing Solutions: Lenders may offer customized financing solutions based on the unique needs of the manufacturing or engineering business. This could include seasonal payment structures or flexible terms.
Industry-Specific Expertise: Some financial institutions specialize in providing equipment financing tailored to the manufacturing and engineering sectors. These lenders understand the unique needs and challenges of these industries.
- Finance the purchasing of new and used heavy machinery on competitive terms of up to 84 months
- Purchase costly equipment without having to buy it outright
- Release cash equity by refinancing your existing machinery and equipment
- VAT deferrals available, easing initial cash outlay
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