Do You Need to Secure a Lease For Grain Handling Equipment?
Grain handling equipment leasing for commercially based businesses like farming or agricultural production, feed preparation, and food processing is available for the following list of assets. This is not meant to be an all inclusive list, but an overview of the most common types of grain handling equipment that gets approved for financing on a regular basis by Canadian based leasing companies.
Chain conveyor, grain pump, straight chain conveyor, incline chain conveyor, drag chain conveyor, round bottom conveyor, belt conveyor, bucket elevator leg, grain auger, screw conveyor, grain hopper, swing hopper, bin sweep, grain vac, grain vacuum system.
If you have an item that is not on the list, please give me a call and we can still see if there is lender interest in that specific asset.
In general, equipment leasing will be easier to secure for good rates and terms if the equipment being financed has a solid and well established resale market for used equipment.
So basically, the easier it is to sell used grain handling equipment items, the more likely it will be to finance similar items in new or used condition. The reasoning for this relates to a leasing companies comfort in their own ability to dispose of equipment they own that came to them at the end of a lease term or through lease default.
Grain handling systems can be leased as well as individual items. With larger capital requests, there will be more application information required and any funding approvals may also require additional security covenants to offset the higher level of risk perceived by a leasing company.
Get a Equipment Lease That Meets Your Business Needs
One of the great advantages of agricultural equipment lease financing for smaller amounts is the high probability of securing 100% financing for the equipment purchase price. And if there are delivery and installation costs, they can be added to the lease approval as well effectively providing more than 100% financing.
Even for larger capital requests, the loan to purchase price ratio can still be very high, allowing you to minimize your down payment and therefore retaining more cash for other operational and cash flow requirements.
If you’re looking at leasing a specific piece of grain handling equipment or even an entire system for your operation, please give us a call so that we can quickly review your requirements and provide relevant equipment leasing options for your consideration.
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