How to Finance Mining Equipment
largest unexpected repairs . This gives miners the benefit of less downtime for repairs and reduced maintenance costs . It also makes it easier to attract top quality employees that are looking to work with the best equipment on the market .
Services The easiest aspect of financing mining equipment is locating a service provider . There are literally thousands of options to choose from depending on your operation need and financial situation .
One of the largest financing companies to provide loans and leases for mining equipment is GE Capital . For more than 20 years the company has provided miners with equipment loans and leases , having provided more than $ 20 billion in commitments to the industry since 2000 .
Balboa Capital is another option . The company provides capital equipment financing for mining companies nationwide and has a dedicated corporate financing division that works with companies in the mining industry . Balboa Capital facilitates transactions ranging from
$ 250,000 to $ 50,000,000 for all types of mining vehicles and equipment . Another option for miners is working directly with equipment manufacturers . Companies like Caterpillar have their own financing department with capabilities to offer everything from leasing and general financing to project and structured financing . Caterpillar has a long-term interest in the mining sector and CatMiningFinance give companies access to local people who can provide genuine personal attention and expertise .
Komatus is another company to offer equipment solutions . The company is helpful in arranging loans and leases through Komatsu Financial and other lending sources . They can arrange financing for new and used Komatsu and non- Komatus mining equipment and even secure financing for equipment purchase from another distributor .
Over the years , acquiring financing for mining equipment has gotten easier with more choices and availability . And while the options are limitless , miners could take their time when locating the right service provider for their equipment needs .
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