Concrete equipment financing is available for both new and used equipment.
For used equipment, we can even look at licensed dealer sales as well as private sales.
With respect to private sales, the equipment financing process can take a bit longer as a security registration search needs to be performed to make sure that the title being provided is free and clear of any past obligations that could have been registered against it.
The key with all used concrete equipment financing is going to be the age of the asset and its condition for use going forward. As long as a financing or leasing company can feel confident that there is more useful life in the asset as compared to the lending term being considered, there is a good chance that construction equipment financing can be arranged.
Because of the amount of capital that can be required to operate a concrete company, the ability to secure equipment financing can be a critical component for the success of the business.
And while financing by itself is important, the structure of financing may be just as key to any equipment financing decision you are looking to make.
For instance, if you are looking to get financing for concrete equipment where there is generous early payment options, you are likely going to be better off considering a term or demand loan as compared to an equipment leasing facility.
If near term cash flow is a concern, then we can look at structuring financing into an operating lease with as large an end of term balloon payment as can be arranged.
There are many other examples of how specific business requirements can be tailored into a concrete equipment financing facility.
Depending on where your business is located, your concrete operations may be seasonal and as such you may only have seasonal cash flow to support the repayment of an equipment financing facility.
If that is the case, we can look to acquire a financing facility that will consider seasonal payments on a quarterly, semi annual, and even annual basis.
Concrete equipment financing options can also consider tax implications and on or off balance sheet requirements as well.
For new equipment, financing can be secured at or near 100% of the cost of the asset.
Leverage for used equipment can be as high as 90% as well providing considerable capital and cash flow savings on most deals.
So regardless of what your requirements are, or credit profile, I suggest that you give us a call so we can quickly assess your situation and provide concrete equipment financing options for your consideration.