Pipe Bending Equipment can be financed through an equipment loan or lease with the actual preferred leasing or financing program being dependent on the amount of financing required.
For amounts under $25,000 there are going to be more commercial equipment financing companies interested in this type of asset on both a new and used basis due to the amount of credit risk they are looking at. In fact, for an established business, amounts under $25,o00 will likely be approved on credit alone.
Larger pipe bending equipment that comes at a higher price tag will require more supporting documentation to secure a credit approval with the process taking two to five business days to complete on average.
In many cases, new equipment can be financed at or near 100% of the purchase price and if there are delivery and installation costs involved, they may also potentially get covered by a loan or lease, effectively providing more than 100% financing of the asset’s purchase price.
Used pipe bending equipment financing will typically require a larger down payment, have higher effective rates of interest, and shorter repayment terms. But this can vary depending on the condition of the asset and if any vendor recourse is provided. Certain resellers or vendors may provide full or partial recourse on the assets being financed as they are more than prepared to buy them back from the borrower or leasing company and resell the assets back into the market place. This can either help get a deal approved, or allow better rates and terms to be secured.
If you have a pipe bending equipment financing requirement right now, an equipment financing approval for amounts under $25,000 can be approved in less than 24 hours if all the documentation is in order.
For larger dollar acquisitions involving several units, you may want to consider applying for a pre-approval for the equipment financing required so that you can move forward with the buying process knowing exactly what capital you have to work with as well as the related terms and conditions.
Its also good to get the financing process out of the way so you can concentrate on getting the best deal and not have to worry about delays in getting the closing done.
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