Fiber laser cutting machine financing

A fiber laser is the machine that changed sheet metal fabrication: it cuts faster, costs less to run than the CO2 lasers it replaced, and a shop that buys one usually stops sending cutting out. iFinancial Group finances fiber lasers new or used, with the load and unload automation 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

Entry-level fiber lasers of 1.5 to 3 kW on a 5 by 10 foot bed typically list new from about $80,000 to $250,000 depending on the builder. Production lasers of 6 to 12 kW run roughly $350,000 to $700,000. High-power 20 to 30 kW machines with a shuttle table and automation run $800,000 and up. Tube lasers run $300,000 to $900,000.

Those are market ranges. Wattage, bed size, the builder, the cutting head and the automation package move them more than anything else.

What goes on the same approval

The laser, the shuttle or exchange table, a load and unload system or a material tower, the nesting software, a dust collector, a nitrogen generator or assist gas system, and a chiller go on one approval. A material tower can add $150,000 to $400,000, and it's the piece that lets a laser run a second shift without an operator, so it's financed with the machine it feeds.

Rigging, the foundation work some large lasers need, installation 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

Sheet metal and structural fabricators, job shops bringing cutting in house, enclosure and cabinet makers, HVAC and ductwork manufacturers, trailer and truck body builders, signage and architectural metal shops, and OEMs. The usual case is a shop paying a cutting service every week: the outsourced cutting bill alone often covers a good part of the payment, and the turnaround gets shorter.

Where the work is seasonal or ramps with a new contract, a deferred first payment or step payments can carry the install and the ramp.

New or used

Used fiber lasers three to seven years old typically trade from about $80,000 to $300,000 depending on wattage and hours. Lasers depreciate faster than machine tools as wattage climbs each year, which is why a used laser is often a good value for a shop cutting thinner material. Dealers, plant auctions and shop-to-shop sales are all financeable here.

On a used laser, the source hours, the cutting head, the gantry and the motion system 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 laser deal down

Lead time and the deposit. New lasers are often allocated months out and the vendor wants 20 to 50 percent at order. On qualifying transactions we can pay at order so the deposit is part of the financing, and a deferred first payment, typically up to 90 days, covers the install. An approval holds up to 60 days.

A laser with a material tower above $1,000,000 is structured under a master lease. Below that line it's the same one page.

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.

Other manufacturing equipment: CNC machining center, CNC lathe, press brake, injection molding machine, waterjet cutting machine, robotic welding system, industrial 3D printer, forklift, packaging machinery. Or start with manufacturing equipment financing.