by Karl D. Forth
Financing tips to make
the most of IWF
Expert offers advice on how to best prepare
for financing your machine purchases.
If you are going to I WF and are planning to buy equipment, make sure your credit is in order. Finance manager Stan Ragley
has more than two decades of experience in overseeing the financing of
Biesse and Intermac machines for
America and Canada. He has a wealth
of knowledge to impart to customers,
particularly as they are getting closer to
a trade show or event. With I WF 2018
in Atlanta coming August 22-25, Ragley
provided his biggest financing tips for
“The big thing I would tell everyone
is to get your ducks in a row now and
get things in order so that you’re ready
to secure financing,” he said. “That
way, you’re able to make a better deal at
the show and be ready, especially in an
environment like this when machines are
in shorter supply because sales are good.
The worst time to find out you need to
correct something on your credit is when
you need it.”
“The point is to be prepared,” Ragley
said. “Look at both your personal and
business credit to ensure it’s all in order
ahead of time. Make sure there are no
mistakes or things you should correct in
The Five C’s
Ragley preaches the “Five C’s” to custom-
ers in an effort to make certain they’re
completely prepared and no stone is left
Capacity: Do you have sufficient cash
flow to service the loan?
Character: What is your credit history,
both personal and business?
Collateral: Do you have additional
collateral at your disposal? This could be
inventory, A/R, free and clear equipment or property that you may need to
secure the loan.
Capital: What is the net worth of your
business and personal net worth?
Conditions: What is the purpose of
the loan and what factors should be con-
Finance manager Stan Ragley has more than two decades of experience in overseeing the financing of Biesse and Intermac machines for
America and Canada.