10/29/2019

An Alternative Method to Pay for New CNC Machines

Facebook Share Icon LinkedIn Share Icon Twitter Share Icon Share by EMail icon Print Icon

Financing might be a more attractive option to using conventional bank loans or cash on hand to purchase new CNC capital equipment as one industry expert explains.

Share

Facebook Share Icon LinkedIn Share Icon Twitter Share Icon Share by EMail icon Print Icon

CNC machine shops are typically quick to use traditional resources , such as their local bank or perhaps their cash on hand. However, there are other financing strategies that shops can benefit from that they might not consider enabling them to keep their cash or line of credit for expenses such as expansion, payroll or raw material. In the video below, Huong Do, vice president of business development for Machinery Finance Resources, describes ways shops can benefit from an alternate financing strategy.

RELATED CONTENT

  • Top Shops 2013: JD Machine

    Benchmarking is important to our 2013 Business Strategy Honors Program winner.

  • Video: Five Top Shops Technologies

    Learn about a handful of advanced machining technologies that leading U.S. shops are using to their advantage.

  • Top Shops: Do You Have What It Takes?

    Modern Machine Shop's Top Shops Program is more than just an honor—it’s a pathway to excellence. The annual benchmarking program is an opportunity to guide your shop’s improvement efforts and gage where you rank among industry-leading machining businesses. This interactive story helps you decide: How does your business stack up?

Related Topics

Resources