Real help and a variety of options for financing more than equipment are available, says Komatsu executive

QUESTION: From a customer’s point of view, what makes Komatsu Financial an option to consider when looking for financing?

ANSWER: We have competitive rates and options, and we are also unique in that everything we do is related to equipment. Komatsu Financial understands the construction industry and our customers better than other lenders who finance everything from homes to cars, etc. We know there may be times when a customer’s business drops due to weather or other unforeseen circumstances, which may affect cash flow. Our goal is to find solutions that allow customers to keep the machinery until they are in a better financial position.

We also offer financing for Komatsu Certified and other types of used machines. Additionally, we will finance parts and service. If customers need repairs but don’t have the funds on-hand to pay for them, they can have the machines fixed, and we will work with them on payment terms.

Other lenders may not be willing to go that extra mile, and because we are, Komatsu Financial has developed many repeat customers throughout the years.

QUESTION: Where does the process to finance a Komatsu machine begin?

ANSWER: Fortunately, we have a very strong distributor network with excellent finance managers at each location. If customers want to lease, buy or rent, they should start a conversation with their local sales representative and finance manager. More than likely, they will refer customers to Komatsu Financial.

QUESTION: What percentage of your business is repeat?

ANSWER: Seventy plus. Customers with whom we have longstanding relationships and who have a solid history of on-time payments and credit are often approved nearly instantaneously when they want to finance another machine.

The balance of our business comes from new customers. We take great pride in attracting and building relationships with them, too. Typically, we can provide answers to their financing inquiries within a day.

QUESTION: What are the most popular financing terms for machinery?

ANSWER: Zero percent interest for 36 months has become somewhat of an industry standard, but every situation is different. In many cases, that may not be the best option. A customer may need or want a longer or shorter financing period. Our aim is to provide rates and terms to best suit each case. If necessary, we can look at customized plans. We’re flexible and willing to do whatever we can to ensure that customers have what they need to be productive and profitable.