First-Citizens Bank & Trust Company offers a simple application process, quick turnarounds, and competitive rates for contractors seeking to expand their business or update their fleet. Apply using the link below.
Lender: First-Citizens Bank & Trust Company
Application: https://crafcoinc.directcapital.com/
Contact: Tim Perrier, Lending Solutions Manager, VP
Phone: (603) 501-1170
With financing, you can get the equipment you need now – and avoid making a hefty payment all at once.
Paying for your equipment over time means you can avoid tying up your cash all at once.
You’ll have a predictable monthly payment, which can help you plan for the future and budget for your other business needs.
The best rates make financing a cost-effective solution.
Financed equipment could be deducted as an operating expense in the period in which it’s paid and put into use – and that could reduce your overall cost. Payments are also treated as expenses on the income sheet, so you can worry less about depreciation. Consult your tax professional about the benefits of financing to grow your business.
Through our lending partner we offer equipment leasing and financing. Although there are some differences between a lease purchase and a finance purchase, typically, you will own the equipment at the end of the term. Please contact our lending partner to discuss how you would like to structure the purchase agreement.
Yes. Customers may often add up to 20% in additional soft costs to the amount financed. Examples of soft costs are delivery, installation or accessories. This way, you can make one simple monthly payment for an entire system or equipment line.
Yes. Please contact our lending partners to see if you qualify for alternative financing that may cover non–equipment purchases such as supplies, tools and other purchases.
With our online application you can apply in minutes and often receive a decision within seconds. For applications requiring further credit review, decisions are typically complete within 24 hours!
Typically when applying for up to $100,000, all that is required is basic business and ownership information. For applications over $100,000, please speak with our dedicated lending partners to discuss your options.
Contact our lending partners for programs that support all ranges of credit.
Yes, financing is available for startup businesses. Typically, a startup is a business that has under two years’ time in business. If this is the case, our lending partner may ask for additional business information. Dollar amount of financing may be limited and rates may reflect the limited time in business.
Based on credit and time in business, clients can typically finance amounts that range from $5,000 to $1,000,000.
Our lending partner will contact you and start the funding process.
Most financing contracts are written for 24, 36, 48, or 60 months, depending upon the type of equipment and finance agreement.
Payments can be structured to meet your needs. Our typical payment schedule includes the first and last payments made at the time you sign your documents, with your next monthly payment due about 30 days after your acceptance of the equipment. Payment can be received via ACH, credit card or business check.
The customer is responsible for insuring the equipment against risk of loss including property and casualty coverage, and liability. Customers typically just add the equipment to their existing policy. Lenders may offer insurance for non-title equipment. Inquire with your lender if such service is offered.
Yes. Please contact your lenders to discuss options.
While First Citizens Bank & Trust Company can also support government agencies, financing through NCL Government Capital and Sourcewell may provide additional benefits. NCL Government Capital is the only Sourcewell-awarded finance contract for state, local, education and tribal purchasing. NCL Government Capital is an independently owned company, providing procurement solutions for government and educational agencies nationwide.
This municipal finance option is available to Sourcewell members.
Lender: NCL Government Capital
Information: https://nclgovcap.com/sourcewell/
Contact: Jake Ost, Account Executive
Phone: (320) 763-7600
Email: jakeo@nclgovcap.com
Disclaimer:
The content on this page contains options for financing Crafco products and is for informational purposes only. The financing is provided by First-Citizens Bank & Trust Company (Finance Partner). Nothing herein constitutes an implied commitment to finance by Crafco or its Finance Partner. The financing options are available only to Crafco business customers and subject to final credit approval and completion of necessary documentation. All Finance Partners reserve the right to modify or cancel any promotional options at any time without prior notice. Nothing herein constitutes tax, accounting, financial or legal advice.
