Vertical, horizontal and 5-axis machining centers let shops take on more complex parts, run more spindle hours and reduce setups. They are also among a shop’s largest purchases, so the financing and the ramp-up plan matter as much as the machine.
Subject to credit approval and documentation.
An EFA is typical for machines kept for their full life. Shops that refresh technology on a cycle sometimes use a fair-market-value (FMV) lease. Ask about deferred first payments during installation on approved deals.
| Equipment finance agreement (EFA) | You own it from day one. Fixed payments; usually eligible for Section 179. |
|---|---|
| $1-buyout lease | Lease payments, then you buy it for $1. Treated much like an EFA for tax. |
| Fair-market-value (FMV) lease | Lower payments. Return, renew or buy at market value at the end. |
Time in business, business and owner credit, revenue, and the equipment’s details: make, model, year, serial number and condition. Requests above $1M also need financial statements.
Equipment bought with an EFA or $1-buyout lease and placed in service by December 31 may qualify for a first-year deduction. Estimate your tax savings.
Need cash for delivery, training, materials or the ramp-up? Add working capital to the same application.
Usually, yes. Robots, pallet pools and part loaders bought with the machine can be included on the same contract when they are on the quote.
Requests up to $1M can usually be decided on the application. Above $1M we ask for financial statements and tax returns.
LenderCloud finances equipment from $10,000 to $10 million. Requests up to $1 million can usually be decided on the application alone; larger requests need financial statements. All financing is subject to credit approval.