Call (507) 405-1836 or use the request form; a funding partner reviews the plant's file and decides.
A Faribault, MN plant can finance CNC machines, lasers, saws and inspection gear against the equipment, use a term loan for a larger step, and carry raw material and long customer payment terms with a line of credit or inventory financing. A funding partner reviews each request.
At a glance
- Manufacturing, Rice County, MN
79 employer establishments (CBP 2023, NAICS 31-33)
- Manufacturing establishments with a ZIP 55021 address
36 (ZBP 2023)
- Food manufacturing, Rice County, MN
20 employer establishments (CBP 2023, NAICS 311)
- Manufacturers with no paid employees, Rice County, MN
83 (Nonemployer Statistics 2024)
Business loan to buy machinery for Rice County, MN: second-shift tooling, fixtures and machinery
A business loan to buy machinery does not have to cover only the machine. A plant adding a second shift can need a set of tooling for each spindle, workholding fixtures and jigs for the new parts, and spare holders so the first shift is not short. Equipment financing can carry the machine and its tooling together when they arrive on one quote.
When the step is bigger than one quote, such as several machines plus training and the first raw material, a term loan with one fixed schedule can be the cleaner choice.
Among plants with a payroll, a staff of five or more is the rule. By our arithmetic on County Business Patterns, 69.6% of the 79 Manufacturing (NAICS 31-33) establishments in Rice County, MN had five or more employees in 2023.
Used CNC machine financing in Faribault, MN: auction buys, retrofits and machinery upgrades
Used CNC machine financing comes with questions a new machine never raises. A machine bought at auction or from another shop has no dealer warranty, and a partner can ask for the control type, spindle hours, the year and photos before it sets an amount. It can also ask for an independent appraisal on an older machine.
A retrofit, such as a new control on a sound older frame, is equipment too, and it can be financed with the machine or on its own. Rigging and freight are worth adding to the quote, since a partner may fund only what the invoice shows.
Fabricated metal shops, the group that includes machine shops, are a small part of the county count: County Business Patterns listed 13 Fabricated Metal Product Manufacturing (NAICS 332) establishments in Rice County, MN for 2023, and 5 of the 13 had fewer than five employees.
CNC machine financing for Rice County, MN: welders, lasers and production lines
CNC machine financing covers more than mills and lathes. Robotic welders, fiber lasers and press brakes, and the conveyors that tie them into a production line, are serial-numbered equipment with resale value, and each one can serve as the collateral for its own agreement.
Illustration only, invented figures: a plant finances a $185,000 fiber laser at a 9.25% annual rate over 72 months. Payments run $3,357.72 each, $241,755.84 across the full term, so the laser carries $56,755.84 of interest beyond its price.
Quality lab gear belongs here as well. A coordinate measuring machine, hardness testers and an optical comparator can be financed like any other machine, and a customer audit that calls for them gives the request a clear reason.
Manufacturing equipment loans for Rice County, MN: CNC lathes, welding cells and raw steel
Manufacturing equipment loans for CNC lathes, welding cells and saws sit beside a different cost: raw steel. Bar stock, plate and tube are bought before the job runs, and the customer may pay on long terms after the parts ship. That wait is a receivables gap, not an equipment purchase.
A line of credit can carry the steel and the payroll through the wait, and inventory financing can lend against material and finished parts on the floor. A partner can ask for the aging of receivables to see how long customers take to pay.
A plant with paid staff and a ZIP 55021 street address shares that ZIP with 35 other manufacturing establishments, going by ZIP Code Business Patterns for 2023, and 30.6% of the 36 ran with fewer than five employees. That ZIP takes in land beyond the city of Faribault, so the count is the ZIP's, not the city's.
Machine shop financing for Rice County, MN: injection molders, conveyors and air compressors
Machine shop financing also reaches plastics and packaging lines. An injection molder with its molds, a conveyor run and the air compressors that feed the shop floor can sit in one equipment package when one vendor quotes them together. Running new power to the floor or altering the building counts as property work, and this site leaves it out.
Food plants buy conveyors and packaging machines too. County Business Patterns counted 20 Food Manufacturing (NAICS 311) establishments in Rice County, MN for 2023, with 8 of them (40.0%) under five employees.
In a separate program, Nonemployer Statistics counted 83 Manufacturing (NAICS 31-33) businesses in the county with no paid employees in 2024. The industries page places manufacturers in the same group as home builders and landscapers.
By Rainside Capital Group ยท Updated