Do You Need To Finance New or Used Wood Working Equipment?
Wood Working Equipment Financing is provided to Canadian based businesses by a number of Canadian based lenders and leasing companies.
The following is a list of some of the more common types of new and used wood working equipment that get financed via loan or lease on a regular basis.
Saw, band saw, table saw, radial arm saw, circular saw, jig saw, mitre saw, reciprocating saw, cordless saw, scroll saw, tile saw, drill, drill press, hammer drill, air cleaner, dust collector, planer, joiner, jointer, shaper, router, sander, grinder, bench grinder, lathe, boring machine, carving machine, chair making equipment, door construction equipment, home construction equipment, flooring equipment, dowel equipment, edge bander, finger jointer, finishing equipment, laminating equipment, rip saw, sawmill equipment, veneer equipment, v-groover, wood waste equipment.
Even if the wood working equipment or machinery is not listed here, just give us a call and we’ll be able to determine right away if its something that can be financed via loan or lease.
The more heavy duty the wordworking equipment is, the more likely it can be financed as used equipment for up to a 5 year pay back term. Used equipment will likely require a higher interest rate or cost of commercial financing, but this is typically offset by high levels of leverage, ranging from 80% to 100% of the asset value. And for new and used equipment, the cost of delivery and installation can also be included in the financing cost. For certain types of equipment the break down, delivery, and setup of the asset can be costly, so the ability to get them included in the equipment financing package can be a major benefit to your business.
If you’re looking for sources of equipment financing for your woodworking business, we highly recommend that you get in touch with us and apply for a preapproval. Once we assess your situation, we will send you application on to the most relevant lenders or leasing companies we work with so that you can see first hand the type of financing you are able to secure and adjust you equipment acquisition plans accordingly.
Its always easier to work with a pre-approval for equipment financing in hand, which is almost like cash, allowing you to bid or offer more aggressively on the equipment you’re interested, knowing the money will be available to close the deal.