The NDT market is expected to grow rapidly over the next three to five years. The advancement of NDT technologies is providing a major boost to the industry. Another key growth driver for this market is the aging infrastructure in developed economies and the resulting corrosion issues. This is driving demand for NDT services and equipment to perform testing. Madison Capital’s financing programs are helping these businesses acquire the equipment and vehicles they need to meet the growth.

One of the questions we are frequently asked is “what types of NDT equipment do you lease/finance?” We provide NDT financing solutions for virtually all NDT equipment from 5k to 500k and vehicles from 1 to up to 500 units and we work with providers and end users. For NDT equipment providers we offer a vendor financing program.For more information on this program please visit NDT Vendor Financing.ndt financing solutions

Another question we are frequently asked is the difference between a loan and a lease? In summary, a loan is the borrowing of money while a lease is a term rental agreement for the use of specific equipment. As a means of financing, loans generally involve a lot more paper work and can take much longer to complete. Lease financing is generally more flexible than a loan and can be completed in a few days without some of the restrictions loans can dictate. Factors which affect the lease payment include: time in business, type of equipment/vehicle being leased, size of transaction, length of term, and overall credit strength.
You have several options at the end of a lease, depending on the type of lease, including the following:

•Buy the equipment for $1.00

•Purchase the equipment for fair market value

•Continue to rent the equipment month to month or for a specific period of time (i.e. 3 months, 6 months, etc.)

•Return the equipment to the lessor at the end of the term

It can be beneficial to establish a master lease agreement whereby additional equipment can be easily added to a lease in one document which will govern subsequent transactions. Under the master lease, the business will have schedules for each “batch” of equipment they finance over time with the lender. Schedules can be for different terms depending on what is appropriate for the heavy equipment being financed. If there is additional equipment or vehicles needed, you can simply add it to the master lease.

For more information please visit NDT Financing solutions.