Funeral equipment financing can be secured via both equipment loans and equipment lease financing facilities. Types of funeral equipment that can be financed via a commercial equipment financing facility include but not limited to coffin cooler, mausoleum lift, autopsy equipment, embalming table, coffin cooler, funeral coach, processing station, lift, casket carriage, lift table, marker trimmer, vault lowering device.
If you have a funeral equipment asset that is not listed above, give us a call and we can quickly determine if the asset in question can qualify for equipment financing through our lending and leasing sources.
Funeral equipment financing is somewhat of a niche lending opportunity as not all commercial equipment financing companies will consider these types of assets. This is not at all unusual as banks and leasing companies can be very specific at times in terms of the industries they want to concentrate on which in some cases excludes industries from outside their focus or area of expertise.
Both new and used funeral equipment can be financed with new equipment typically being financed at or near 100% of the asset cost versus used equipment that may require some amount of down payment depending on the age, condition, and amount of the used funeral equipment that the applicant is trying to finance.
Like any other equipment market, the strength of the resale market for funeral equipment will always dictate the rates and terms that lenders or leasing companies are going to provide as the resale market establishes the true value of their security as well as the risk they will take if they are ever in the position of having to realize against the security being held.
Financing provided through an equipment loan or capital lease will function in a very similar nature with respect to cash flow, accounting, and taxation treatment. Operating leases can be varied in structure according to the cash flow and taxation requirements of the business applying for financing.
If you have any questions regarding funeral equipment financing, I suggest that you give us a call so we can go over your requirements and questions together and provide back the most relevant information and equipment financing options available in the market place at that particular point in time.