CNC lathe and turning center financing

A CNC turning center makes the round parts, and the move from a 2-axis lathe to a machine with live tooling and a sub-spindle is how a shop takes a part from three operations to one. iFinancial Group finances lathes and turning centers new or used, with the bar feeder and tooling on the same approval, on a one-page application. No tax returns and no audited financial statements to apply, no minimum and up to $1,000,000.

Who you're dealing with

iFinancial Group has funded equipment since 1997, roughly $600 million of it, in all 50 states. We're a direct lender, not a broker, so the file is underwritten in house and not shopped around. Our customers have ranged from independent manufacturers to global technology companies. We've barely advertised in almost three decades. The business came from repeat customers, referrals, and vendors sending us their customers.

What you're financing

2-axis CNC lathes typically list new from about $50,000 to $120,000. Turning centers with live tooling, a Y-axis and a sub-spindle run roughly $150,000 to $350,000. Swiss-type lathes for small, precise, high-volume parts run $200,000 to $500,000, and multi-turret and multi-spindle machines run higher.

Those are market ranges. The builder, the chuck size, the bar capacity, the control and the options move them.

What goes on the same approval

The lathe, the bar feeder, a parts catcher and conveyor, live tool holders, chucks and collets, and a steady rest go on one approval. A magazine bar feeder on a production lathe is a $25,000 to $60,000 item that turns the machine into an unattended one, and it's financed with the machine it feeds.

Rigging, installation, programming and operator training are soft costs and can ride on the same deal, on many deals up to 30% of the total.

Who buys them and how the payment gets covered

Job shops and contract manufacturers, medical device and aerospace suppliers, hydraulic and fluid power component makers, fastener and fitting manufacturers, and OEMs. A turning center with a bar feeder running lights-out on a repeat part is one of the fastest paybacks in a machine shop.

The trigger is usually consolidating operations: a part that took a lathe, a mill and a second setup comes off one machine finished. The work it consolidates is the case for it.

New or used

A 2-axis lathe five to ten years old typically trades from about $20,000 to $60,000, and used live tooling turning centers and Swiss machines from $50,000 to $200,000. Dealers, plant auctions and shop-to-shop sales all move lathes, and all three are financeable here.

On a used lathe, spindle bearings, turret indexing, the condition of the ways and the control options get the inspection. On the financing side it's the invoice or bill of sale, the serial number, a lien search on a private sale, and proof of what was paid.

What slows a lathe deal down

Lead time on new machines, and the deposit the vendor wants at order. On qualifying transactions we can pay at order so the deposit is part of the financing. An approval holds up to 60 days.

A Swiss-type lathe often comes with a specific tooling package built for the parts it will run. The invoice should list the tooling so it's financed with the machine rather than paid separately.

How it works with iFinancial Group

It's the same one-page application whether the equipment is small or the deal runs to $1,000,000: no tax returns and no audited financial statements to apply, no minimum and up to $1,000,000. Decisions typically come back within 24 hours, and an approval holds up to 60 days. New and used equipment, terms up to 84 months, and soft costs up to 30% so freight, setup and training can go in the same deal. Payment structures beyond level payments are there when the equipment earns unevenly. We've been doing this since 1997, in all 50 states.

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