Financing heavy equipment can be a reliable way to keep your fleet up to date, without putting significant strain on your overall cash flow. Securing capital can be particularly vital for those in the forestry and logging industries, where equipment is subject to significant wear and tear. Learn more about the benefits of financing forestry equipment below.
It’s no secret that forestry equipment takes a beating. On average, forestry machinery has a lifespan that is 34% shorter than construction heavy equipment. What does that translate to for owners? Because of the demands placed on the machinery, your fleet is more likely to require consistent maintenance and repair, especially as it ages. The resulting downtime can be detrimental to your revenue, costing you new jobs and affecting your bottom line.
Having the ability to finance new equipment makes it easy to adjust and expand your fleet as needed, minimizing the chance of any breakdowns or avoidable disruptions to your operations.
Spread Fees Over Time
Machinery isn’t cheap. Paying directly out of pocket can take a heavy toll on your budget, regardless of how long you’ve been in business. Financing gives you the chance to payback your purchase over a set time period, making it easier to manage overhead and other routine operational costs.
Not just for new equipment
Purchasing an all new fleet, or even a few pieces of new machinery isn’t always an option for business owners. Financing used equipment will reduce your need to use your cash reserves and allow you to allocate funds elsewhere.
Partnering with the right lender
Current Financial is a leading provider of flexible equipment financing and capital solutions throughout Western Canada. For more information on partnering with us for your next heavy equipment purchase, contact our team directly.