Mining equipment financing through equipment loans and leases is available to Canadian based businesses from our equipment loan and leasing company partners.
To give you a better idea of the different types of mining related assets that can get financed, here is a list of some of the more common items pre-approved for financing.
Underground drill,grinding mill, grinding mill, bucket cylinder, scrap metal smelting equipment, mill process flotation, bulldozer, slushier, boom cylinder, smelting furnace, grader, mill process feeder, underground truck, smelting ladle, mill process thickener, smelting equipment, crusher, excavator, utility vehicle, conveyor, stick cylinder, mill process screener, swing motor, mill process filter, scooptram, transfer car,haul truck, blade tip cylinder, shovel, mobile crane, loader, rotary drill,Dozer, bogger, cyclone, scraper, blade lift cylinder, hoist
If you are trying to locate financing for something that’s not listed above, just give us a call we’ll be able to quickly determine if we have a financing source interested in that particular asset.
We have financing programs via loan or lease for both new and used mining equipment. Used equipment can be financed at similar rates to new, but keep in mind that the amortization periods tend to be shorter and lenders and lease companies may ask for some amount of down payment, depending on the asset, age and condition.
Overall, most equipment lease financing programs for mining equipment provide very high levels of leverage with most applications receiving financing between 90% and 100% of the acquisition cost of the equipment. And in situations where transportation and installation costs will be incurred to get the asset into operation, a loan or lease is typically able to cover off these costs as well.
One of the benefits of heavy duty mining equipment can be a long useful life. If there is an active resale market for older equipment, there is a good chance the asset can be refinanced to provide cash flow for the business if required.
Also remember that any time you purchase an asset for cash, you can still finance the equipment up to 6 months after the purchase has been completed and get your original cash flow back for use in other business applications.
For any mining equipment financing needs you may have for your business, please give us a call so that we can quickly assess your requirements and come up with relevant financing options for you consideration.
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