How To Fund Your Conveyor Belt

If you’ve read through our blog, or you’ve been browsing our conveyors, it’s likely that you’ve reached the conclusion that a conveyor belt is a smart investment for your production or manufacturing company. Conveyors save you so much time in human labor and drive supply higher, so you’re able to pay less cash in workers’ fees and make higher profits as a result. In this piece, we’ll look at how you can gather the money for your new or used conveyor belt, ensuring you have enough capital to invest in this time-saving and cash-saving technology.

Company Savings

Many companies operate within the ‘just-in-time’ model, which means that they rarely have cash swashing around in their company accounts, as they’re continually investing in materials, staff, better processes, and bonuses for executives. In these models, it can be difficult to find the funding for a conveyor. On the other hand, those businesses that have experienced an unexpected boost in their fortunes would be hard-pressed to find a better investment than a conveyor belt. Guaranteed to save you cash, time, and energy, a conveyor should be bought with any excess cash in your company account.

A Loan

Whenever a business is looking to make an upgrade on their current hardware or software, and that necessitates a heavy investment that they cannot afford, they look to loans. A loan – from your commercial bank, primarily – will help you to raise the capital that you need to buy your conveyor belt. Then, over time, as your conveyor saves your cash, you’ll be able to use that cash to pay back your loan at the back in installments. The loan system is the simplest way to fund your conveyor – and can lead you to higher profits and saved cash in no time at all.

Selling

As a business, you sell products or materials – either to the retail sector or to other companies that refashion what you make into goods for the market. So, in this sense, selling is your bread and butter. But what about your assets: the capital that you have tied up in machinery, transportation, property, or other assets? Often, if you’re looking to onboard something as important as a conveyor, you may find that you can sell another asset in order to raise the cash for an efficiency-driving conveyor. Look to your assets to see where you can achieve this liquidity.

Payment Plans

If you’re desperate to upgrade your facility with the use of conveyor belt technology, you can also set up a payment plan in order to pay in installments for your new conveyor. You can do this in one of two ways. You can sign a contract with your conveyor supplier, who will agree to be paid in installments, or you can set up a savings scheme which puts aside the cash, each month, that you’ll eventually use to purchase your conveyor. Both systems will get you your much-needed conveyor in the end.

There you have it: four simple ways to fund your conveyor purchase this year.