Brookmark Financial in Sterling, Colorado helps Logan County contractor, clinic, shop and store owners put a machine purchase into a request a funding partner can price.
At a glance
- Contractors, Logan County, CO
Construction employer establishments, Logan County, CO: 44, with 247 paid employees (CBP 2023)
- Auto repair shops, Logan County, CO
Auto repair and maintenance shops, Logan County, CO: 19 employer establishments (CBP 2023)
- Machinery repair shops, Logan County, CO
Commercial and industrial machinery repair, Logan County, CO: 7 employer establishments (CBP 2023)
Clinic and dental equipment loans for Sterling, CO practices
Physician, dental and therapy offices finance exam tables, dental chairs, X-ray units, autoclaves and practice-management systems. A clinical equipment loan is secured by the unit, and partners usually want the vendor quote with installation and training priced on separate lines.
Health care and social assistance paid the largest payroll of any sector in Logan County, CO in 2023, $56.4 million, and offices of physicians, dentists and other health practitioners counted 31 employer establishments between them (County Business Patterns; our sum).
A vendor quote, or a bill of sale for a unit bought from another practice, with the model and serial number is the starting record for a clinic request. The clinic equipment article covers refurbished units and payment dates.
Construction equipment financing for Logan County, CO contractors: trucks, tools and retainage gaps
Contractors finance dump trucks, flatbeds, skid steers, compact track loaders, trenchers, compressors and trailers. Retainage, the share of each progress payment held back until a job is accepted, can leave a contractor short of cash at the same time a machine payment falls due. Planning the machine payment around the slowest month of receipts, not the strongest one, keeps that gap from becoming a problem.
Construction employers in Logan County, CO counted 44 establishments and 247 paid employees in 2023, and 29 of them had fewer than five employees (County Business Patterns). Construction also had 197 businesses without paid employees in 2024 (Nonemployer Statistics), a separate Census program.
Auto repair equipment financing in Sterling, CO: two-post lifts, paint booths and payroll
A repair shop finances two-post and four-post lifts, alignment machines, tire changers and balancers, scan tools, air compressors and paint booths. Lifts and booths are installed equipment, so the partner may ask about the building and the lease as well as the machine.
Auto repair and maintenance shops counted 19 employer establishments, 81 paid employees and $4.1 million in annual payroll in Logan County, CO in 2023 (County Business Patterns). Payroll is not equipment, and a shop that needs both a lift and a cushion for wages may be looking at two requests: equipment financing for the lift and working capital for the wages.
Gym equipment financing for Logan County, CO gyms: reformers, mirrors and studio sound systems
A studio or gym finances reformers, cable machines, racks, rubber flooring, mirrors and sound systems. Partners look at what the equipment would be worth if resold; rubber flooring and mirrors are worth little once installed, so they may be priced differently from cardio and strength machines.
Arts, entertainment and recreation establishments with paid employees numbered 6 in Logan County, CO in 2023 (County Business Patterns); a separate count for fitness centers was not part of the county figures used here.
Used heavy equipment financing for Logan County, CO contractors
Used heavy equipment can be financed when its value can be checked. Partners ask for the year, make, model, serial number and hours, photos, the seller, and sometimes an inspection or appraisal. Machines bought at auction may need proof of the winning bid and a title or bill of sale.
Illustration only, invented figures: a contractor buys a used skid steer for $58,000 and puts $8,000 down. Financing $50,000 at an annual rate of 9.75% over 48 months gives a monthly payment of about $1,262 and total payments of about $60,582, of which about $10,582 is interest. The same machine on a shorter term would have a larger payment and less total interest.
Equipment finance agreement vs loan for a Sterling, CO retail store
An equipment finance agreement (EFA) and an equipment loan both leave the business owning the machine. In a loan, the lender takes a security interest in the equipment; in an EFA, the business agrees to a set of payments for the equipment, and title passes to the business at the start or end of the agreement, depending on how it is written. For a retail store buying coolers, shelving or a point-of-sale system, the practical differences are in the fees, the default terms and whether the agreement can be prepaid.
Retail trade in Logan County, CO had 89 employer establishments in 2023, more than any other sector in County Business Patterns. Read any agreement with an accountant before signing, because tax treatment can differ.
How does a $1 buyout lease work for a Logan County, CO contractor?
A $1 buyout lease runs for a fixed term, and at the end the business can buy the equipment for one dollar. In practice it works much like a purchase paid over time. Illustration only, invented figures: a $50,000 loader on a $1 buyout lease of 36 payments of $1,650 costs $59,401 in total (our arithmetic), or $9,401 more than the price. A fair market value lease has lower payments but ends with a purchase at the machine's value then, or a return.
Compare a lease and a loan on the same machine by adding up every payment, the buyout and any fees, and by asking who owns the machine at each point.
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