Kworld Trend / Mining equipment financing options, Like many of their smaller business counterparts, the approximately 106,000 small mining companies in the United States rely on borrowed capital to purchase equipment, fund business initiatives, cover capital costs, and otherwise support growth.
And, like most small businesses in 2021 emerging from the economic challenges of the coronavirus pandemic, access to borrowed capital may be more difficult than it has been in the past. However, there are mining equipment financing options for 2022 that small business mining service providers should know about.
Mining equipment financing options
Whether you are involved in sustainable mining, gold mining, or mineral exploration, and whether your projects are based in the United States or elsewhere in the world such as Chile, Peru, or South Africa, there are debt and equity financing options to explore.
Why benefit from financing and leasing mining equipment?
By having the right equipment, your company can greatly increase its productivity and sales. Often, adding equipment will allow a business to expand its range of services allowing the business to reach an expanded or new customer base.
The equipment used by the company is also a reflection of the organization and the sense of quality and professionalism provided. This is just another example of how upgraded equipment can attract more new customers to your business.
Financing equipment offers a more sustainable way to add production assets than purchasing equipment outright, considering how rapidly technology is developing it can dramatically reduce the value of your investment in just a few years.
Mining equipment financing and leasing terms provide very flexible options that will not stress the cash flow of the business, as most payback terms are between 24 and 72 months. What’s more, purchase options are available, as well as the ability to add equipment to your lease at any time.
Compared to the average business loan, equipment leasing offers the following advantages:
- No down payment, with an option to purchase the equipment at the end of the lease
- Competitive fixed rates and terms to suit your needs and business cycle
- Tax-exempt loan payments if the supplier/equipment seller is not required to collect taxes
- Tax-exempt leases to municipalities and other eligible government entities
- Leases and loans allocated from $10,000 to $2 million
Why finance or lease your own mining equipment?
You’re busy running your business, so we’ll get to the heart of the matter. Our flexible financing and leasing programs can help your business acquire the latest equipment without tying up valuable cash; But our advantages don’t stop there. Your business will improve cash flow with an affordable monthly payment, while also discovering potential tax benefits. Besides personal customer service, equipment financing/leasing is a smart business move.
- What are the prices and conditions?
Prices start at 3.25% with terms ranging from 24 to 72 months.
- What are the payment options?
Payment is tailored to your specific needs. Payment due dates are monthly, quarterly, annual, semi-annual or seasonal.
- How long does the process take?
Typically, loans are approved within 2-4 hours, and financing takes place within 1-2 business days.
- 100% new or used financing
We do not require a down payment, and soft costs such as shipping, installation, and taxes are covered for both new and used equipment.
At Crestmont Capital, we allow your company to structure an equipment leasing / financing program that addresses your key business issues, including: cash flow, balance sheet, cyclicality, and growth. For example, some companies require seasonal leases, which allow them to schedule their payments during the busiest months. Others want the ability to add to the lease as the need for additional equipment develops over time. No matter the issues, our flexible recovery structures address the specifics of your business operations.
Find out about financing and leasing mining equipment for your business
When a company works with Crestmont Capital, that company gains access to a team of equipment rental professionals dedicated to helping businesses across the United States obtain the equipment and technology they need to truly grow and thrive. We help our clients keep up with their competitors, even if their capital is better.
We provide financing for all the equipment you need to run your business. Whether you are looking to expand or need to upgrade some equipment, we can finance equipment to take your business to the next level.
Crestmont Capital can finance everything from technology and furniture to cars and machinery, while also covering consumables, installation, and other costs associated with renting new and used equipment. We invite you to contact us today to learn more about the options available to your business. Mining equipment financing options
What is financing and leasing mining equipment?
Mining Equipment Finance and Leasing helps you finance or lease the new or used equipment your business needs. Applying for a loan or equipment lease with Crestmont Capital is a quick and easy way to finance or lease the purchase of computers, machinery, vehicles, or any type of equipment that your business requires. At Crestmont Capital, nearly every business can qualify for equipment leasing and financing loans. Mining equipment financing options
Who is eligible to finance and lease mining equipment?
At Crestmont Capital, nearly every business can qualify for equipment leasing and financing loans .
The amount of your business qualifications and the interest rate approved depends on the type of equipment, your company’s financials, and credit history.
Since the equipment acts as collateral, financing and leasing mining equipment is a great decision even if your business or personal credit score isn’t perfect. In fact, at Crestmont Capital , our underwriters are just as interested in the equipment as they are in the borrowing history. In other words, the equipment alone can be enough to qualify your business for financing.
How do you apply for financing and leasing mining equipment?
At Crestmont Capital, applying for a loan or leasing business equipment is a very simple process. All we need is a one-page application and information about the equipment you purchase through financing or leasing.
Documents you will need:
- driver’s license
- A canceled commercial check
- completed application
- equipment quotation
Financing and leasing mining equipment against other payment options
Financing or leasing your equipment purchase with Crestmont Capital is a smart decision for businesses, whatever their budget. Get the equipment your business needs now and pay for it over time with monthly or quarterly payments.
- Equipment Financing / Leasing vs. Credit Cards: Many small businesses and startups have limited lines of credit. When you buy your equipment with a credit card, you’re wasting valuable lines of credit that your company may need to use for other expenses. If you finance the equipment purchase with Crestmont Capital, your business will be left with more options for the company’s future needs.
- Equipment / Lease Financing vs. Small Business Loans : Equipment financing may be an affordable alternative to a loan. Often, the rate and terms will be more favorable on a lease financing/approval for the equipment rather than a small business loan since the equipment acts as collateral.
- Equipment Financing / Lease for Cash: Few companies are in a position where they have enough working capital to purchase all of their equipment up front. With equipment purchase financing from Crestmont Capital, your company will have more capital available for future business opportunities.
At Crestmont Capital, lease or loan programs generally do not include upfront costs with deferred payment options available. Apply now to see how we can help you with your business!
How do you qualify for mining equipment financing?
Mining equipment financing shares many of the same credit requirements that any small business would encounter when applying for a loan .
- Business license or current file with the Secretary of State where you do business
- Personal guarantees are likely to be required for all business owners
- A personal credit score of at least 600
- No bankruptcies in the last 7 years
- There are no unresolved tax liens
Individual lenders will likely have additional qualification criteria. Mining equipment financing options
What is mining equipment?
Mining equipment financing shares many of the same credit requirements that any small business would encounter when applying for a loan .
- Business license or current file with the Secretary of State where you do business
- Personal guarantees are likely to be required for all business owners
- A personal credit score of at least 600
- No bankruptcies in the last 7 years
- There are no unresolved tax liens
Individual lenders will likely have additional qualification criteria. You may be required to submit your tax returns from the past year or two as well.
What is mining equipment?
Any equipment used to conduct the business can be considered as equipment. This can include things like computers, office furniture, and office equipment that a business uses. It also includes many common pieces of heavy equipment specifically associated with the mining industry, whether it be mining lithium, precious metals, gold, or something else.
- aggregate equipment
- Blasthole drills
- Conveyors and crushers
- crushing equipment
- density separators
- Dragline cranes
- Dragline shovels
- Drilling equipment
- Drilling equipment
- extraction machines
- Exploration equipment
- feeders
- Milling equipment
- Loader
- magnetic separators
- material handling machine
- Milling equipment
- Mineral processing equipment
- Mining trucks
- processing plants
- Quarry equipment
- reactors and toasters;
- recycling equipment
- sorting equipment
- Sand and gravel equipment
- stackers and shakers
- Surface mining equipment
- Drum screens
- Trucks
- Underground mining equipment
- vibratory screens
- Laundry equipment
Build your business by financing and leasing mining equipment
When your business needs to upgrade equipment to better serve your customers, you need access to payment options quickly. Crestmont Capital offers financing within 24 hours to help you secure the equipment that will help your business expand and provide the right service to your customers in the way they have come to expect.
You can access an order of up to $500,000 only, or up to $10 million with financing, and choose from loan or lease options. We offer flexible tenures and flexible payment options to meet your specific business needs to ensure an exceptional financing experience. There are generally no upfront costs in rental or loan programs. We even have deferred payment options available. Submission is free and will not affect your balance. Mining equipment financing options
