Financing Options for Commercial Generators

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If you’re in the market to either rent or obtain financing for commercial generators, you should know we offer a variety of financing and leasing programs for both new and used equipment. Financing or renting equipment is an excellent solution to preserve your capital. As a business owner, you cannot afford to lose electricity to your business. Adding a commercial generator would give you the confidence your company will have a shorter downtime if the power was to go out. This will allow your production to continue with very little downtime, which will result in lowering your loss of revenue during the power outage.

Keep in mind, if the equipment is going to be used for a short term, it might be best to rent the equipment. Just remember, you need to have a better understanding of the amount of work that will be done with this concrete saw. We’ve spoken to clients in the past, and they have told us they have been renting their equipment for over a year! After adding up the rental payments and miscellaneous fees, they could have owned one outright if they had financed it!


Knowing What Type of Commercial Generator You Will Need

 

At this point, you are most likely aware of the type of generator you’re going to need. If you know the differences between the type of generators, you can skip this part. We are just going to list a few different types of commercial generators, and their purposes. Commercial or Industrial generators are different from the ones you see being used for residential properties. These typically will start at 12kW and can go up to 200kW or more and you’ll need to choose from a portable commercial generator or a commercial standby generator.

First, you’ll need to pick between a portable commercial generator or a commercial standby generator. Depending on the type of work you plan on using the generator for, will determine which one will best suit your needs.

Portable commercial generators do provide flexibility in mobility and offer a significant amount of power but you are limited on the amount of power it can provide. They are not designed to power an entire building; they are more commonly found for job sites where the power is needed on a temporary basis.

Commercial GeneratorsCommercial standby generators provide more power and will be permanently installed at your location. This generator is connected to your main electrical panel and will automatically turn on once it detects the power outage. The seamless operation assures your production will have very little downtime if your power should ever go out. Once the utility power has been restored it will then switch off the generator and will go back to the standby mode.

Prime power generators are not used for backup situations, but instead are being used as a primary source of power. This will typically be found where there are no other options for obtaining power from a utility company. These units run 365 days a year, 24 hours a day.

Once you have figured out what type of commercial-grade generator you will need, you will need to decide on the type of fuel that will be used to run the generator. The most common types are natural gas, propane, gasoline and diesel.

 

  1. Natural gas generators offer a huge convenience if your location has access to the utility you will not need to worry about taking delivery of this fuel. If you choose to have a storage tank on site, you will be happy to hear that shelf life for natural gas is limitless. Generally natural gas generators provide lower output when compared to a diesel generator, so you might need to move up in size to get similar results. Unlike the other powered generators, natural gas offers the lowest in emissions when compared to the other fuel types.
  2. Propane generators are a great solution if you are not in constant need of using the generator. Unlike gasoline or diesel, propane does not have an expiration date. The shelf life of propane is limitless. If you are located where the weather reaches freezing temperatures, propane does not need to be winterized. Propane does require a storage tank which will take some extra space, and will need to be delivered to your location. Propane is also considered clean-burning fuel, which means it is very low to no emissions.
  3. Gasoline generators might be lower in upfront cost, but these will require more maintenance than your diesel generators. Depending on where you live in the country, the cost of gas might be more than your other fuel costs. The shelf life for gas is not only more difficult due to the potential for a fire, but the shelf life for gas is significantly less if you plan on storing the fuel.
  4. Diesel generators seem to be more popular for heavy commercial use, especially if the generators are being used on construction or job sites. A lot of the heavy equipment being used on construction sites require diesel which makes this type of fuel easily available. Diesel generators require less maintenance, which offers you longer periods of time before you will need to get it serviced.

Those were just a few types of generators, and hopefully by now you’ll know if you need to rent or buy yourself one. If you have come to the conclusion you’ll need a longer term solution for this equipment, now you’ll need to make the decision if you will be buying this outright or if you’ll need some help with financing it. Depending on the type you need, a generator can range anywhere from a few hundred bucks and can be upward to $250,000. For the more costly saws, you might want to consider financing as an option. This will allow you to preserve your cash and will allow you to make affordable monthly payments. We offer both traditional and non-traditional financing programs for those who have good and bad credit. Our programs start with the minimum amount financed at $5,000 and the maximum going to $500,000. We also can finance new or used equipment. Depending on what type of generator you’re in the market for, it’s a good idea to contact us first and get pre-approved prior to signing any agreements or putting any type of deposit down with the dealer or seller.

Learn More About Equipment Financing


Program Highlights

  • Startup businesses are OK!
  • Challenging or Bad Credit is Ok!
  • No Income Verification Programs!
  • Income Based Financing for Lower Credit Grades!
  • Get prequalified over the phone within 5 minutes, call 888-565-6692

After you’ve called us, and spoke with one of our advisors these are the steps needed to get the ball moving in the right direction

 


The process is fast and simple:

 

Commercial GeneratorsStep 1: Pick out your equipment: even if you have to shop for a few online, we’ll need to know approximately what your budget is. If you already have a quote or invoice from the dealer, that’ll work just as well. (Keep in mind, if you haven’t picked one out or if you don’t have the time to find one, get an idea on the price and we can work with that)

Step 2: Know your numbers, whether you’re looking for a used $5,000 Multiquip 10kW generator or a brand new $200,000 MTU 1000kW generator you’ll want to be sure to have a budget set for this added investment. Depending on the finance amount, typically you will not need to have a business plan, nor would you need financials or tax returns. But before making a purchase, it’s wise to run some numbers and projections on the benefits of adding this asset to your books.

Step 3: Get pre-approved for financing prior to signing any agreement or paying any deposit. The last thing you want to do is back yourself in the corner by paying a deposit for this equipment and not being able to find the financing. Of course, we’re able to secure financing for the majority of our clients, but there are still some instances where a client might not be able to proceed with the financing terms that are presented to them. If you have a few minutes, you should call us at 888-565-6692 and speak to one of our advisors. They can walk you through the simple process and address any questions you might have.

Our chat help desk is typically open from 5am PST to 11pm PST 7 days a week. Once you’ve found out what you are eligible for, now comes the fun part… Start shopping!

Get Pre-Approved Now!


Qualifications for Financing a Commercial Generator

 

We have a wide variety of programs for all credit grades, including start-up businesses. There are too many variables to list all of our programs on our website, so we strongly suggest speaking to one of our advisors. We can pre-qualify you within a few minutes by asking you a few simple questions.

Financing Programs for Commercial Generators

Depending on your scenario, you will see that we offer programs that will require anywhere from a zero down payment and some may require as high as a 50% down payment. So we’ll list a few examples to give you an idea on what you can expect. As you might already know, there’s a lot that goes into pricing and qualifying a transaction:

  • Length of time in business
  • Credit history & credit score for the business owner(s)
  • Equipment type
  • Sometimes income will also come into play

Available Programs

*Please don’t forget, these are not ALL our programs we offer and the programs listed will change from time to time. If you don’t see something you qualify for, always give us a call and speak to one of our advisors. If you don’t feel like talking on the phone, our Chat Help Desk in the lower right corner of your screen can also help you.

 

Program 1

$10,000 Minimum Amount Financed

$150,000 Maxim Amount Financed

Equipment can be any age, no restrictions

5 Years’ Time in Business, Excellent Credit, Good Business Credit

Zero Down, 1 Month Advance Payments Due at Closing

Terms from 24 to 60 months

 

Program 2

$15,000 Minimum Amount Financed

$300,000 Maxim Amount Financed

Equipment must be 10 years or newer

5 Years’ Time in Business, Excellent Credit, Good Business Credit

5% Down Payment Minimum, Due at Closing

Terms from 24 to 60 months

 

Program 3

$5,000 Minimum Amount Financed

$50,000 Maximum Amount Financed

Equipment can be any age, no restrictions

Startup Business, Average Credit, No Business Credit

Zero Down, 1 to 2 Months Advance Payments Due at Closing

Terms from 24 to 60 months

 

Program 4

$10,000 Minimum Amount Financed

$150,000 Maximum Amount Financed

Equipment must be 10 years or newer

Startup Business, Average Credit, No Business Credit

5% Down Payment Minimum, Due at Closing

Terms from 24 to 60 months

 

Program 5

$10,000 Minimum Amount Financed

$75,000 Maximum Amount Financed

Equipment can be any age, no restrictions

Anytime in Business, Poor Credit, No Business Credit, Income Qualifications

10% Security Deposit Due at Closing

Terms from 24 to 48 months

 

Program 6

$10,000 Minimum Amount Financed

$400,000 Maximum Amount Financed

Anytime in Business, Very Poor Credit, No Business Credit, Recent Bankruptcy & Repossessions are Ok

50% Deposit Due at Closing

Terms from 24 to 48 months

 

Now that you have an idea of some of the programs we have, which example do you fall in? It’s ok if you don’t know, that’s what our advisors are here for!

There are more details that go into qualifying, so it’s always best to either call our office and speak to one of our advisors, or you can use our help desk. If you look at the lower right of your computer screen, you’ll see a blue box that will allow you to chat with one of our professionals.

Feel free to call us anytime at 888-565-6692

Contact Us!

 

Financing Options for Commercial Generators | First Capital Business Finance