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How to Get Cash for a Retrofit Project

If you know how to do it, leasing can fund your much-needed upgrades and eliminate timing challenges.

In my last blog, The Wisdom of Perpetual Upgrades, I wrote about how the availability of capital often drives the timing of retrofit projects. In the interest of walking my talk, I would like to present one possible solution to the problem of capital availability driving project timing: leasing. To cover this topic appropriately, I spoke with Bill Summers, director and vice president of Vision Financial Group. He shared his insights to the world of leasing and why it may be a good solution for manufacturers when considering a retrofit project.

As Bill puts it, “The equipment leasing and finance industry happens to be built around making the necessary capital quickly available for automation projects and other capital intensive projects that require funding. These projects usually either don’t have enough (or any) money earmarked within the company’s budget or the budgeting office simply won’t or can’t progress with the same sense of urgency that the automation engineering team recognizes a need for.” Continue Reading →