Whether replacing an outdated restaurant range with the Southbend PE36N-HHH commercial range or simply taking advantage of an opportunity to surpass the competition, Top Financial Resources can create a solution that reduces cost and maximizes return. Top Financial Resources makes restaurant equipment financing fast, easy, and flexible. You can finance or lease Southbend PE36N-HHH and much more when you turn to Top Financial Resources to meet your restaurant’s needs. We know that your time is valuable. The commercial range financing search can be long and difficult, so we use a simplified online application procedure to get you the financing that you need as fast as possible.
Southbend PE36N-HHH commercial range overview
Southbend PE36N-HHH is a Platinum electric heavy-duty range. It features 36″ modular, (three) 12″ x 24″ hotplates, 5.3 kW per plate, thermostatic controls, and front rail. It also comes with stainless steel construction, and it rests on 6″ adjustable legs to increase stability. This unit is cSAus, NSF certified.
Southbend PE36N-HHH commercial range features
- (3) 12′” uniform hot tops
- 96,000 BTU
- battery spark ignition
- manual controls
- NSF (Note: Qualifies for Southbend’s Service First� Program)
- Platinum Heavy Duty Range
- rear & exterior bottom
- stainless steel front
What is Southbend PE36N-HHH financing?
Restaurant equipment financing is funding intended for hard assets designated for commercial use. Thus it follows Southbend PE36N-HHH Financing is funding intended for purchase or lease of Southbend PE36N-HHH commercial range. You can buy the equipment outright, put items on a payment plan, rent commercial equipment, or secure a lease. Funding is available through traditional business loans, government loans, or alternative lenders such as Top Financial Resources.
When you are approved for commercial range financing, you do not necessarily own the Southbend PE36N-HHH, even if you buy it outright. The lender will probably create a Uniform Commercial Code-1 filing, also called lien, against the commercial range you purchase. Your appliance acts as collateral for the loan, and the financing partner can repossess your equipment if you fail to pay the debt in full.
How do you qualify for commercial range financing?
Getting approved for restaurant equipment financing is often fairly simple compared to the qualifications for business credit cards and personal loans. Since the equipment itself secures your loan, you are less of a risk for lenders than applicants without security.
Typically, you can expect a quick, simple application for a commercial range lease or loan. You do not need stellar credit to get accepted for some types of equipment financing; a credit score of 500 or 600 might be enough for you to get approved. Nonetheless, startups and restaurants with very little credit history might have a challenging time getting accepted than restaurants with an established revenue history.
Many restaurant equipment financing and leasing companies request basic information, like your business tax ID or your rental contract or Social Security number and a summary of your annual sales. You might also have to provide a photo ID or license information and sign a contract promising not to utilize the funds for anything other than the commercial range.
You should be prepared to put down some money if you get a restaurant equipment financing loan. Some lenders require applicants to offer a down payment equaling approximately 20-percent of the commercial range purchase price. If this is not possible, you might need an equipment financing lease. A lease is also a good option if you are buying equipment that you do not intend to use for a long time because you do not have to worry about disposal when your contract ends. Nonetheless, a lease can have higher monthly payments and interest as opposed to an equipment loan.
Who offers commercial range financing?
Many traditional lenders, like banks, credit unions, government entities, and alternative lenders like Top Financial Resources, offer restaurant equipment financing and leasing to restaurants like yours. With us, you can get instant restaurant equipment finance and lease quotes, compare monthly payment plans, and apply for commercial ranges loan or lease, all in less than ten minutes. Best of all, it is free.
Top Financial Resources is an alternative lender working individually to provide competitive rates across a large spectrum of financial needs. Even if your restaurant is too young to be eligible for financing, do not worry; we will design a financing solution that works for your business needs. Compared to traditional lenders, our benefits to you include:
- 100-percent purchase financing
- Funding with a simple one-page application
- Funding within two days of application
- Deferred payment terms and options up to seven years
- We finance startups and restaurants will bad credit
- Eligibility for all new and used commercial range purchases
- Same day approvals in two hours
- No down payment requirements
So get an instant restaurant equipment financing quote and get started today. There is no impact on your credit ranking, and you will be able to choose the best payment plan, complete your Southbend PE36N-HHH financing or lease application, and receive the financing you need in record time.
Do you offer financing for other series of Southbend PE36 Platinum Heavy Duty Ranges?
Yes. You can use financing for any commercial range your restaurant needs as long as it is in good shape. You can use funds for:
- Southbend PE36N-BBB Platinum Heavy Duty Range
- Southbend PE36N-TTT Platinum Heavy Duty Range
- Southbend PE36C-HHH Platinum Heavy Duty Range
- Southbend PE36C-BBB Platinum Heavy Duty Range
- Southbend PE36C-TTT Platinum Heavy Duty Range
- Southbend PE36T-HHH Platinum Heavy Duty Range
- Southbend PE36T-BBB Platinum Heavy Duty Range
- Southbend PE36T-TTT Platinum Heavy Duty Range; and more.
Generally, if a commercial range helps you do business, the odds are high that we will cover it.
Why is commercial range financing important?
Commercial range financing benefits your restaurant and its customers. When you have the equipment you need, it is simpler to prevent safety violations and complete work faster and accurately. Even though leases and loans each come with their own requirements and fees, you might find the investments are worth it. Another benefit of commercial range financing is that it frees up your restaurant’s funds for other essentials. Rather than dedicate finances to new machinery, you can put your funds toward business-boosting investments. Here are more advantages of commercial range financing:
- Helping your cash flow: Leasing or financing your commercial range will ensure you have what you need without majorly impacting cash reserves. Maybe you need more money for a commercial freezer; financing will allow you to acquire that quickly without investing the full sum upfront.
- Pay as you use leased commercial range: Spread your catering lease’s cost through its working life- i.e., three to five years.
- Other costs linked with the commercial range you finance (like installation and maintenance) could all be included under one direct debit program with a lease.
- Other credit lines are not impacted by financing commercial range.
Which are the most popular restaurant equipment financing options?
It appears as though there are equally as many business financing options as there are reasons to apply for equipment financing. Some financing solutions are ideal for short-term projects, while others are perfect for long-term business goals.
It is worth noting that when restaurant business owners generally think of equipment financing, they presume all of their options are loans, or they are limited to funding through restaurant equipment finance or lease. Not true! Business lines of credit, merchant cash advances, purchase order financing, and invoice factoring are ways a restaurant can finance equipment but do not fall under restaurant equipment financing. Moreover, alternative lenders offer working capital loans with a little more flexibility around eligibility and payback processes. Let us look at some of them:
Merchant cash advance
Put simply; a merchant cash advance is where a percentage of an eligible restaurant’s future sales (generally credit card sales) are bought in exchange for an up-front lump sum. Unlike an equipment loan where a payment is due to the lender monthly, a merchant cash advance takes a more automated payback approach. The majority of third parties will subtract payments through a daily ACH (Automated Clearing House) deduction from a bank account.
Whereas most loans will present the cost of capital as an interest rate or APR, the cost of a merchant cash advance 8is generally presented as a factor. A merchant cash advance is great for restaurants that accept credit or debit card purchases. If you are operating a cashless restaurant, this might be a good option for you to buy the commercial range you need.
Business line of credits
A business line of credit operates the same way as a credit card. An approved restaurant business owner is extended an open business line of credit from Top Financial Resources. As with credit cards, business lines of credit have a spending limit, which should be repaid either annually or monthly before a merchant can draw down extra credit. This financing option is useful for two big reasons:
- It helps restaurant owners improve their credit rating.
- It offers restaurant business owners capital when they need it and the flexibility to decide how much they require.
Remember, all restaurants started out first as a dream. Securing restaurant equipment financing for an important project can be scary: however, by taking the time to do your research and get the right resources and tools, you can make a significant investment in your business’s future. Remember that Top Financial Resources possesses a broad base of experience in expansion initiatives, major commercial equipment purchases. Top Financial Resources will structure and deliver a restaurant equipment financing program tailored to your business’s goals. Our approach to the equipment restaurant financing market ensures you do not pay excess fees and interest.