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Credit & financing

FLEXIBLE, AFFORDABLE CRANE FINANCING

MGX Equipment Services, LLC, offers financing for qualifying purchases through Manitowoc Finance, enabling you to seize profitable new opportunities as they arise

About Manitowoc Finance

With Manitowoc Finance, equipment can be acquired with virtually no cash outlay, and unlike traditional lending, our financial products don’t affect bank lines of credit. Our customers’ capital resources remain intact for times when they need ready access to cash.

We offer special low, competitive rates, and customers can take advantage of flexible financing options and payment schedules that are adaptable to virtually any business need. Our financing agreements can be structured to help make the best use of cash reserves and to compensate for seasonal business fluctuations: they can make lower payments when revenue drops or higher payments when business is at its peak. With Manitowoc Finance, we structure our products to put our customers in control.

manitowoc finance

Benefits of Financing

Acquire the equipment you need with virtually no cash outlay. In most cases, all you need is a small down payment, or in the case of a lease, one payment in advance.
Unlike traditional lending, Manitowoc Finance financial products don’t affect your bank lines of credit. Your other capital resources remain intact for times when you need ready access to cash to subsidize growth or meet operational needs.
From flexible payment schedules to add-on equipment requirements during the life of the equipment, our financial solutions are variable enough to adapt to just about any business situation.
Using the latest equipment technology can give you a decided edge in jobsite efficiencies, but today’s equipment can look obsolete when compared to tomorrow’s technology. Why settle for yesterday’s level of efficiency? Working through Manitowoc Finance lets you upgrade to new and better equipment anytime during or at the end of the equipment contract term.
Depending on the type of finance product you select, your payments may be treated as a fully deductible operating expense or you may depreciate the equipment. For a business needing to shelter income, this option can be a huge benefit.

Our flexible financing options let you schedule your payments to fit fluctuations in cash flow. For businesses tied to seasonal fluctuations, your equipment agreement can be structured to provide seasonal payments when you have income. And, for construction situations with fluctuating revenue streams, lower monthly payments when revenue drops and higher payments when business peaks, combined with skip payments during those really slow months, may be the best use of cash reserves. Manitowoc Finance can match cash flow to fit your income streams whether annual, semi-annual, quarterly, or monthly.

We structure all our products to put you in control. At the end of your agreement, you may choose to continue to lease the same crane equipment, lease new Manitowoc equipment, or return the equipment. It’s up to you. You make the choice.

Finance Almost Any Piece of Manitowoc or Manitowoc-Related Equipment

Just about any piece of Manitowoc equipment that produces income or saves time and labor can be financed, including crawler cranes, mobile hydraulic cranes, tower cranes, and boom trucks.

It’s Quick and Easy!

In most cases, just one phone call is all it takes to get the process started. Depending on the transaction size, credit approval can take place in the same day. If you have an existing line of credit, it’s even faster.
Contact Your Local MGX Branch

FINANCIAL OPTIONS:

PLENTY OF FLEXIBILITY AND CHOICE

Manitowoc Finance offers a wide range of financing and leasing solutions designed to meet varying business and worksite needs. Typically, terms range from 24 to 84 months depending on the cost and type of equipment. Some of our most popular financial products are featured below.

1

FULL PAYOUT LOAN

Your company has fixed payments over the term of the contract while building ownership equity in the equipment over time.

FEATURES

  • Level monthly payments
  • Depreciation and interest deductions claimed by borrower
  • Payment of equipment over time

BENEFITS

  • Fixed costs aid budgeting
  • Borrower takes full advantage of tax benefits
  • Conserves working capital

2

FIXED PRICE PURCHASE OPTION

Your company may purchase the equipment at the end of the term for the amount specified at the beginning of the term or return the equipment to Manitowoc Finance.

FEATURES

  • Level monthly payments
  • Option to purchase for market price
  • Payment of equipment over time

BENEFITS

  • Fixed costs aid budgeting
  • Operational ownership
  • Conserves working capital
  • Pay only for equipment use

3

TAX OR TRUE LEASE
(FAIR MARKET VALUE)

An operating lease in which your company may purchase the equipment for a fair market value at lease end, extend the lease, or return the equipment to Manitowoc Finance.

FEATURES

  • Level monthly payments
  • Option to purchase for market price
  • Lessee may claim payments as expense
    (subject to advice of counsel or accountant)
  • Pay only for equipment use
  • May provide planned replacement

BENEFITS

  • Fixed costs aid budgeting
  • Operational ownership
  • May provide tax benefits and minimize or negate impact of AMT
  • Conserves working capital
  • At term end, equipment may be replaced with new unit
  • Lower monthly payments

4

EARLY BUYOUT LEASE

Your company experiences the benefit of a Tax or True Lease (FVM) and having a one-time option to purchase the equipment at a stated amount.

FEATURES

  • Level monthly payments based on FVM residuals
  • Option to purchase for a fixed price prior to end of lease term
  • Lessee may claim payments as expense
    (subject to advice of counsel or accountant)

BENEFITS

  • Conserves working capital
  • Pre-determined purchase option
  • Tax/True Lease Treatment
  • May provide tax benefits and minimize AMT
  • Option to return equipment at end of lease term
Contact Your Local MGX Branch

Equipment Types

You can finance just about any piece of Manitowoc or Manitowoc-related equipment that produces income or saves time and labor including the following equipment types by Manitowoc, Grove, Potain, and National Crane.

Lease vs. Buy

Which is right for your business, a flexible financing structure or outright purchase? The right option for you depends on several questions and considerations revolving around your business, equipment needs, and budget requirements.

For example, what will happen to the equipment’s value? Will it appreciate or depreciate over time? What will the value be at the end of the economic lifecycle? Will the crane technology you purchase today remain functional or become obsolete before the end of its useful life? Will the crane you need now satisfy your capacity and worksite requirements 2 years in the future? What about 4 or 6 years in the future? Can your capital or credit line be better used to leverage your financial returns? Which option provides the best tax advantage to you now and in the future?

If it’s equipment that will increase in value and can be acquired without impacting your capital, consider buying it. But, most equipment needs are not so easily met, and that’s where Manitowoc Finance can help.

Manitowoc Finance’s team of construction financing professionals offer proven industry experience wrapped around the highest level of service quality. This deep commitment to our customers is the reason why we’ve been so successful providing flexible financial solutions to the construction industry. Our knowledgeable industry specialists are ready to provide you with the products and services you need to meet your business goals and keep you competitive.

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