Plumbend Lending Group takes calls at (704) 255-5375; the request form lives on the apply page. The page lists questions to ask any lender about cost and contract terms, questions for the Plumbend desk, and what to have ready before a call about tooling.
Questions about cost to put to any lender before a Lincolnton, NC metal fabricator signs: total, fees and payment schedule
Every offer a fab shop receives can be held to the same handful of cost questions, whichever lender or provider makes it. Ask for the answers in writing and compare them in dollars:
- What do all the payments add up to, first to last, and how much of that is interest?
- Which fees are taken out of the funded amount before the shop sees it, and which arrive as separate bills?
- Is the payment monthly, weekly or daily, and on which date or weekday is it taken?
- Could the rate behind the last payment differ from the one behind the first?
- Does the quoted payment include sales tax, freight or rigging on the machine?
A payment that looks small can sit on top of a long term or a large final payment; the total and the schedule bring that into view.
Contract questions for a Lincolnton, NC fab shop's business loan: early payoff, personal guarantees and liens
Cost is half of an offer. The contract decides what happens if plans change, so a Lincolnton, NC fab shop can ask:
- If the shop clears the balance ahead of schedule, is interest saved, or is there a payoff charge?
- Who signs a personal guarantee, if one is asked for?
- Will a UCC lien be filed, and does it cover only the machine or every asset of the shop?
- What counts as a default, and what follows a missed payment?
- Who holds title to the machine while payments run?
A blanket lien covers every asset of the business, not only the machine being bought, so a shop that already has one on file should say so on the call. The equipment financing page sets out where title sits during the payments under a loan and under a finance agreement.
Questions for the Plumbend desk itself, and where to reach it in Lincolnton, NC
Questions for Plumbend itself are fair to ask before anything is passed on:
- Which funding types could fit this need, and why one over another?
- What kind of partner would see the request?
- Might a partner check credit, and at what stage?
- What happens to the details if the owner decides not to go ahead?
The desk is at 115 S Academy St, Lincolnton, NC 28092, and the phone line is (704) 255-5375. No email address is listed for Plumbend; questions go by phone, and requests go through the form on the apply page.
What to have ready before the first call when a Lincoln County, NC manufacturer is pricing tooling
A Lincoln County, NC manufacturer pricing tooling (cutting tools, workholding, dies or a set of fixtures for a new part number) gets more out of the first call with a few figures close at hand:
- The tooling quote or the supplier's price list, with its total
- Roughly what the shop brings in each month, and how long it has been operating
- The monthly payment on each loan, lease or advance already on the books
- The date the tooling must be paid for, and the job or order it is meant for
- Whether the tooling goes with a machine purchase or stands alone
The form has no box for any of this; these figures are for the conversation.
By Plumbend Lending Group ยท Updated
