Do You Need To Lease New or Used Mining Equipment?
Dozer, bulldozer, grader, excavator, haul truck, loader, rotary drill, scraper, shovel, hoist, bogger, scooptram, slushier, underground drill, underground truck, utility vehicle, conveyor, crusher, cyclone, mill process feeder, mill process screener, mill process filter, mill process thickener, mill process flotation, grinding mill, smelting equipment, smelting furnace, smelting ladle, scrap metal smelting equipment, transfer car, mobile crane, stick cylinder, bucket cylinder, boom cylinder, blade lift cylinder, blade tip cylinder, swing motor.
This is not meant to be an exhaustive list but something to give you an idea of the types of mining related equipment that can be lease financed. If you have an item that you’re interested in acquiring that’s not listed, please give us a call and we will quickly be able to determine if that particular asset can be financed.
Equipment lease financing has the advantage of providing higher levels of leverage than most conventional loan programs. For used equipment, the keys to rates, leverage, and repayment terms will be the condition of the asset or assets, and the strength of the resale market for similar units.
Most mining equipment commercial leases are written up as a capital lease which provides better interest rates than an operating lease.
Get an Equipment Lease That Meets Your Needs
Asset purchases can be financed through a sale and lease back process up to 6 months after a cash transaction was completed, provided that there is a paper trail verifying the amount of money originally paid to acquire the equipment.
Assets under $25,000 are typically approved within 24 hours of a lease application submission. Amounts between $25,000 and $150,000 tend to get reviewed and approved in two to three business days with larger requests taking up to five business days for completion of a lease company review of the asset and the financing profile of the borrower.
Larger used mining equipment will require third party appraisals to confirm their value before a financing decision will be made.
If you have a mining equipment requirement for your Canadian based business, please give us a call so that we can quickly assess your requirements and come up with relevant options for you to consider.
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Mining Equipment Leasing Needs.