Carey’s has formed a new partnership with Cobra Capital (www.CobraLLC.com) to offer equipment financing to owners seeking to build or expand their indoor shooting ranges. Participating owners lease their Range Ventilation Systems with a series of easy monthly payments over a two- to four-year period.
We asked Pat Tovey, Chief Operating Officer at Carey’s, to comment on the advantages of leasing. “You avoid the need for a large, upfront payment,” Pat said. “The leasing arrangement frees up your working capital and gives you more cash to grow your business. This can help speed up the project. And you may be able to build a larger range with more lane capacity to better meet customer demand.”
Pat also pointed to the advantage of locking in today’s low monthly payments for the term of the lease. For example, a two-year lease is available at a Monthly Payment Factor of no more than 4.79% of the cost of the equipment being financed. Three- and four-year leases are available at lower Monthly Payment Factors. These terms are competitive in today’s market.
How can an owner qualify for financing? According to Dale Kluga, with Cobra Capital, “We’re optimistic that most range owners will qualify. Cobra is a privately-held financer and we have skilled underwriters who will consider the unique circumstances of each applicant.” Owners can qualify based on business assets, consistency of income, number of years in business (including related experience), and profitability.
Click here for more information on Equipment Financing.