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Financing Options for a Hydraulic Ironworker

Financing Options for a Hydraulic Ironworker
Starting a metal fabrication business involves purchasing essential equipment, but finding affordable equipment can be challenging in the open market. Ironworkers need machines that can perform tasks like:
  • shearing
  • punching
  • notching
  • bending
But where do you start searching for an affordable piece of equipment that meets? To help you get started to purchase the right equipment for your business, we have assembled the types of ironworker equipment ranging from $5,000 to $50,000 or more and the financing options available for all business owners.

Punch Press

Manual punch press Most ironworkers need equipment that includes a punch press, a machine that punches holes in metal sheets. These presses can be manual or hydraulic, with hydraulic options being more expensive.

Manual Punch Press

costs as low as $5,000, while a hydraulic one ranges from $10,000 to $30,000. An ironworker machine is a versatile tool that can perform multiple tasks, such as punching, shearing, notching, and bending. They come in various sizes and capacities, with prices ranging from $10,000 to $30,000.

A hydraulic punch press

This type of machine uses hydraulic pressure to punch holes in metal sheets. It is typically more powerful and efficient than a manual punch press but also more expensive, with prices ranging from $15,000 to $50,000 depending on the size and features of the machine.

Shearing Machine

Shearing machine A shearing machine cuts sheet metal, metal plates, aluminum, or other metals and alloys into specific sizes and shapes. There are different types of shearing machines, such as:
  • manual: which requires physical force to operate
  • mechanical: uses a motor or flywheel to power the blade
  • pneumatic: uses compressed air to operate the blade
  • hydraulic: uses hydraulic power to operate the blade.
A manual shearing machine costs less and can be purchased for as low as $2,000. Conversely, hydraulic machines can be more costly and cost around $80,000.

Press Brake Machine

A press brake bends sheet metals and metal plates into specific shapes and angles. This machine is used for heavier applications, whereas folding machines are used for lighter and thinner metal sheets. Press brake machines come in different options, mechanical/manual, electric, pneumatic, and hydraulic, with hydraulic. A manual press brake can be purchased for as low as $300 while a hydraulic one can range from $10,000 to $100,000.

Notching Machine

A notching machine is used to create notches and cutouts in metal sheets without cutting the metal. You will see these machines in metal fabrication businesses like automakers, auto repair shops, plumbing, HVAC, and many other industries.  Notching machines come in manual, pedal, pneumatic, or hydraulic, with more expensive hydraulic options. For example, a manual notching machine can be purchased for as low as $750, while a hydraulic one can fetch $15,000 to $35,000.

Purchasing an Ironworker

When purchasing ironworker equipment, several factors must be considered, such as determining your needs, setting a budget, and researching your options. Consider the type and thickness of the metal sheets you will work with and the tasks you need to perform.  Determine how much you can afford to spend on equipment and stick to your budget. Look for reputable brands and read reviews from other metal fabricators to find the best equipment for your needs.

Why you would want to finance equipment

Equipment financing involves a loan or lease agreement with the equipment serving as collateral. Financing this equipment can be attractive for businesses with limited cash flow or those looking to preserve working capital.  Financing is especially beneficial for a startup business. Preserving cash for unexpected expenses would be a great idea. With recent delays in raw materials and shipments, new business owners might need to replace materials while waiting for their initial load. This type of equipment financing may offer lower interest rates or other benefits, such as extended warranties or maintenance agreements.

Financing options for Ironworkers

Financing programs are available for startups and existing business owners who don’t have the upfront capital to buy the equipment outright. Even if you have bad credit, financing programs are available that will still offer financial help. Most programs don’t require tax returns; the process is fast and straightforward. Get prequalified over the phone within 5 minutes by calling 888-565-6692. Financing options for hydraulic ironworkers can vary depending on the manufacturer, distributor, and lender. Before choosing a financing option, carefully review the terms and conditions of the agreement, including the repayment terms and requirements, to get approved. Starting a business is not just about the equipment but other expenses such as commercial lease space, insurance, advertising, and materials.
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