CNC Machining Center Financing is available from several different sources of equipment financing in Canada and the U.S.
This type of asset is a staple in parts manufacturing and comes in many different models and configurations.
Used CNC machining centers can also be financed, but the rates and fees are going to depend on the age of the asset, its type and model, and expected remaining useful life. Used equipment is more likely to have a higher down payment than new equipment as well as a shorter repayment period. Due to the recent recession, there is a larger supply of used CNC equipment that what you’d see in a growth economy and as a result, lenders are a bit more cautious with their qualifying and approval process.
That being said, CNC equipment in general are very strong assets to finance. The main issue these days is if you have below average credit or a business not yet turned around from the recent economic conditions, it will likely be a bit harder for you to secure different types of manufacturing equipment financing and the rates and fees related to what you do find are likely going to be higher than in the recent past as well.
If you haven’t identified a particular CNC machining Center to acquire yet, then we recommend that you give us a call so we can get you pre-approved for the financing amount you’re going to be needing. This gets 95% of the equipment financing process out of the way and allows you to focus on getting the best deal for the equipment you’re after.
Or, if you already have a piece of CNC equipment that you have secured the rights to buy but now need capital to complete the deal, we can get equipment financing approved for you in a day or two, depending on the asset and the amount. For larger sized deals, especially for used equipment, the process may take a few extra days, but can still be turned around pretty quickly.
In either case, give us a call so we can quickly assess your requirements and provide relevant equipment financing options that we will review with you for your consideration.