Running a successful business requires the right tools and equipment. When it comes to packaging, having the right machinery is essential for success. But purchasing this machinery can be costly, which is why many businesses turn to financing options to help them get what they need.
Fortunately, there are plenty of financing options available for those who need assistance with their packaging equipment needs. From small-scale operations to large-scale production lines, you can find an option that works best for your unique situation.
Below we will discuss some of the most common types of packaging equipment that people finance and provide tips on how to get started if you’re looking for financial support so that you can purchase what your business needs.
4 Most Common Types of Packaging Equipment
Here are four of the most common types of packaging equipment that people finance:
1. Filling Machines
Filling machines are used to fill containers such as bottles and cans with liquids, powders, or granules. This type of machinery is often used in the food and beverage industry but can be used for many other applications. The average cost of such equipment ranges from $30,000 to over $100,000, and pricing can be affected by the size and complexity of the machinery.
2. Labeling Machines
Labeling machines are used to apply labels to products. This type of equipment is used in a variety of industries, including food and beverage, cosmetics, pharmaceuticals, and more. Typically, the cost of a labeling machine depends on the type of machinery and its features. Pricing can range from $5,000 to over $50,000.
3. Wrapping Machines
Wrapping machines are designed to wrap products in plastic film or other materials for protection during transport. These machines are often used in the food industry but can be used for many other applications, such as medical equipment or electronics. Pricing for wrapping machines can range from $25,000 to over $100,000, depending on the size and complexity of the machinery.
4. Case Erecting Machines
Case erecting machines are used to construct cardboard boxes and cases, which are then filled with products and sealed shut for transport. This type of machinery is often used in the food industry but can be used for many other applications, including electronics and medical equipment. Pricing for case erecting machines can range from $15,000 to over $100,000, depending on the size and complexity of the machinery.
Of course, there are other types of packaging equipment to consider, such as palletizers, which are used to stack products on pallets for transport, and shrink wrappers, which are used to package products in plastic film for protection. These types of machines can cost between $20,000 to over $200,000.
Overall, those who want to venture into the packaging business can expect to invest anywhere from $15,000 to over $200,000, depending on the type and size of machinery they need. Given the high cost of getting started in this venture, equipment financing offers a great option for those who need financial assistance.
Qualifying for Packaging Equipment Financing
Once you know what type of packaging equipment you need, the next step is to find a financing option that best suits you. Many lenders offer specialized packaging equipment financing programs that can help you get the machinery you require without having to use up all of your savings or take out a loan with high-interest rates.
When qualifying for financing, lenders may consider a variety of factors, such as the type and cost of the equipment, your credit score, and the size and longevity of your business. It’s important to make sure you have all the necessary paperwork ready when applying for financing so that you can get approved quickly.
To increase your chances of getting approved for financing, it’s important to have a strong business plan and show that you are committed to your success. Working with a reputable financial broker can also help you find the best financing option, as a broker can provide valuable insight into the different financing programs available and connect you with the best lenders.
Contact Charter Capital Today for Packaging Equipment Financing
If you’re looking for financial support to purchase packaging equipment, contact Charter Capital today. We specialize in helping businesses of all sizes get the financing they need for their packaging equipment needs.
Our team of experts will work with you to find the best financing solution. We have been helping entrepreneurs for over 40 years, and we want to help you succeed. Contact us today to learn more about our packaging equipment financing options.