Whether a major equipment repair is needed soon or, in the case of an emergency, required immediately to continue business operations, it can create a financial strain. Operating a business requires money and sometimes paying for repairs or replacement in cash isn’t possible or the best option. It’s important to protect your cash flow and working capital for reasons such as emergencies or moving into a slow season, but how does one do that?
Chill Refrigeration is now able to offer financing options to help solve these issues for our clients. Rather than spend $5,000 in cash or put it on a high-interest credit card, you can fill out a simple, one-page loan application to fund equipment replacement. Once you fill out the application, our team handles the rest and depending on your credit score, we can often help you get better rates and terms compared to other forms of credit.
Take for example, the choice many of our customers face, repairing an old ice machine again vs buying a new one. A new piece of equipment may be $2,500 and it will cost $1,500 to repair the old equipment. While $1,000 between repairing and purchasing is a big difference, so is the difference between old equipment and new. New equipment will perform better, experience less downtime, save on energy costs, and more.
If you were to purchase new, ice machine equipment warranty is typically 5-year major components and 3-year parts and labor warranty. If your approved for financing through Chill and receive a term of 3-5 years with rates of 9-12%, purchasing new equipment is completely achievable. Applying for financing for both the cost of new equipment and installation through Chill helps lessen the burden of purchasing new equipment and could be the difference between paying to repair equipment repeatedly versus purchasing brand new with warranties.
Contact Chill Commercial Refrigeration in Sioux Falls, SD, at 605-338-1897 today to talk about our financing options as well as our maintenance programs to help keep your equipment – and business – operating at its fullest potential.