Flexible financing to fit your business

Jason KellerApril 2, 2022 · 3 min read

We know that our customers’ specific business needs don’t always fit inside a certain lending box, and when it comes to structuring their equipment financing one size doesn’t fit all. At Ritchie Bros. Financial Services we’ve structured tens of thousands of financing transactions for businesses all across North America, and in a wide variety of industries. When it comes to thinking outside the box, we’ve got flexible options to help solve our customers’ needs.

Flexible financing options:

Lease options with 100% financing and residual purchase options at the end of term. This gives customers the flexibility of lower monthly payments and the option to purchase, refinance, or return the equipment at the end of the term. Why pay higher rental rates or larger loan payments when you can lease equipment for 12-72 months with a lower payment, and then choose to purchase or return the equipment at end of term?

Flexible payment terms structured around your business’s cash flows. Some businesses require 1 or 2 payments per year while others may prefer no payments in the winter or spring months due to down time. Whether you’re in agriculture , forestry, seasonal construction or transportation we can structure skip payments, interest only, lump sum payments, semi-annual, or annual payment terms to match when your business’s cash flows are strong.

90 or 120 days of no payments! For many businesses, just because they’ve purchased the equipment doesn’t mean they’re going to recognize revenue from it on day one. We provide our customers the option to start their first loan or lease payment in 90 or 120 days from funding so that they can put the equipment to work and collect revenue from their customers before starting their payments.

We know that cash is king and sometimes that means getting creative to conserve cash. When a down payment is required, we can use existing equipment as collateral in lieu of cash down payments. This allows businesses to purchase the equipment they require and not sink all their cash into the equipment before they’re able to put it to work.

Purchase equipment from anywhere! Over the years we’ve provided financing to businesses that wanted to purchase equipment from other private businesses. The process was cumbersome, and many banks wouldn’t support financing these transactions, which is why we invented PurchaseFlex™ Financing. With PurchaseFlex™ Financing, our customers can use their existing pre-approvals to purchase equipment from private businesses and have the same peace-of-mind from guaranteed free and clear title when they purchase equipment from Ritchie Bros. or IronPlanet. We provide all the lien searches, escrow, and facilitation between buyer and seller so that there’s a seamless process for purchasing equipment privately and financing it.

What makes Ritchie Bros. Financial Services different? We offer a wide variety of financing products and services built around each customer’s unique needs. With Ritchie Bros. Financial Services, our customers get access to major national equipment lenders and competitive financing terms from a team of dedicated equipment financing professionals that can tailor the financing around your needs.

Talk to us about flexible financing and apply today.