Money, Money, Money!
Making upgrades to automation is important, but so is managing cash flow!
Whether it’s a house, car, or product, many things tend to empty our wallets. With Russell Conveyor and Equipment, we help ease these challenges by offering in-house financing options tailored to your needs. Whether you’re buying a full conveyor system or our excellent control systems. No matter what your situation is, we’ve got you covered.
However, before we talk about ways we can help, it’s important to answer a few basic questions. Answering questions like ‘What is financing?’ and ‘Is it really worth my time?’ can help your company determine the best path forward. So, in order to give you the best solution, let’s discuss what it really is and if it’s worth your time.
What is Financing?
Financing is the process of supplying money to a project or service. This process is usually gradual and can vary in time depending on the terms and length of the financing agreement.
There are several advantages and disadvantages to using this type of payment. But overall, using this tool can give your company the competitive edge it needs.
Pros and Cons!
To help visualize the benefits and drawbacks of this process, we’ve constructed this short table. This table can help you determine whether financing is the right option for your business.
| Pros | Cons |
| Immediate Equipment Access | Debt Obligation |
| Leveraging TVM | Additional Interest Costs |
| Predictable Payments | Potential Late Fees |
Unfortunately, like any other service, it does have its drawbacks. But, to help offset some of these challenges, here are a few benefits Russell Conveyor offers to you:
- Predictable monthly payments
- Upgrade options for your business
- Fast approvals
- Preserve credit lines
As you can see, with the perks that we offer, you’ll be able to get your equipment faster and have an easier way to pay.
Is Financing Really the Best Option for Me?
This option is very beneficial when buying equipment or large machinery, but it may not be for everyone. If you’re still unsure financing is right for you, let’s compare two scenarios. If you choose to pay in full for the conveyor, you must commit the entire price upfront while still operating at the same efficiency level. Now, not only is the capital no longer available for other business needs, but the benefits of automation are still delayed. During this time, the company continues to operate under the same inefficiencies while waiting on the new equipment.
On the other hand, if you decide to finance, the process looks like this. When you begin payments for the equipment, you can preserve cash flow while waiting on a new upgrade. Once it arrives, you now receive the upgraded machinery and still have cash in hand. Leveraging the time value of money allows companies to receive efficiency gains sooner and reduce labor costs faster. The sooner the upgraded system arrives, the quicker you can start saving.
Are there any Alternatives to Financing?
Yes, Russell Conveyor and Equipment also offers leasing if financing is not the best solution for your needs. This service functions slightly different from our other option. With the leasing program, you first request a system or unit. Afterwards, we begin work by assembling exactly what you need. We then deliver it and you can start work as soon as it arrives. However, instead of one large upfront cost, you’ll make smaller recurring payments until the duration of the lease is finished. At the end of the term, the equipment is returned, freeing up valuable space in your facility.
How can Russell Conveyor make this easier?
Russell Conveyor and Equipment can make this process easier by looking out for your needs. Our dedicated team works closely with customers to make sure that no matter what the situation is, we can always find a way to help. With our 20+ years of experience, we’re committed to helping you find the funding option that best fits your business.
To learn more, check our page out about how financing can support your business needs.
Let’s discuss how financing can help you improve your efficiency and working capital! Call (336) 526-3014 to receive your quote today!
FAQs about Equipment Financing
Don’t spend extra time with questions, because below we’ve answered some of the most common ones!
We offer in-house financing and leasing.
We build what you need, you pay to use it until you’re done, then it’s brought back to us.
It varies, but generally we have a very fast approval process.
We make sure to work with you to provide terms best fitted to your cash flow with low monthly payments.
Yes. Our equipment financing service allows you to preserve your bank credit lines.