Contact UsHow to Secure New Equipment Financing
From John Fitzgerald
President, MFR
February 2009
It is a buyer’s market in the machine tool industry. As sales slow down, machinery builders are cutting prices in virtually every category of equipment. If you are considering investing in new equipment, don’t let ongoing negative news about the credit markets deter you. The truth is that despite today’s economic market conditions, financing for new machine purchases can be obtained easily, provided you know where to go.
Selecting a finance institution that understands your business and equipment needs is an important step in the acquisition process. Many finance companies may be more familiar with copiers and computers than five-figure CNC manufacturing equipment. As you search for a source to secure financing, it is critical to understand the background and core focus of the finance institution. What is their area of expertise; how familiar are they with your industry, and are they familiar with the equipment used in your business?
Chances are slim that a finance provider with limited experience working with manufacturers will extend a significant sum of money to you. Some of the largest financial institutions, with assets tremendously greater than ours, have a record of declining loans to major manufacturers and job shops whose business they just do not understand. At the other end of the spectrum, local community lenders are often shocked by the cost of CNC technology.
Machinery Finance Resources (MFR) is one of the very few finance organizations that serves the needs of the manufacturing sector, exclusively. We can help you evaluate various methods of financing your equipment investment. Will you use your existing working capital or line of credit or secure lease financing? Is there another creative financing solution that we can develop together? We will show you on paper the advantages and disadvantages of different financing arrangements.
Our narrow specialty in manufacturing finance is beneficial to you. We have working relationships with almost every major machinery builder in the industry. We stake our company’s reputation within the manufacturing industry where we have financed more than $300 million of new equipment purchases, representing more than 2,400 machines, since our founding in 2004.
Our years of experience enable us to help leading U.S. manufacturers in diverse industries, including aerospace, energy and medical, secure the most advanced machinery available. We are equally suited to work with job shops of all sizes, even start-ups.
MFR is one of a very few financing institutions that can offer an application only program up to $350,000. We know exactly what information is required and will not put you through countless unnecessary steps when you apply for financing. Our “Fast Track” application is available online. Complete it and fax it back; we’ll have an answer for you in 24 hours.
Our customers work hard every day to develop new business opportunities. At MFR, we take pride in helping U.S. manufacturers acquire the technology needed to maintain a competitive edge. Don’t accept the status quo; use all your resources, including Machinery Finance Resources, LLC to help your business succeed.
