Slatemont Capital Group, a small-business funding broker in Bismarck, North Dakota, connects owners with lending partners for equipment financing: loans, equipment finance agreements, and leases with a fair market value or $1 buyout. It covers new and used machines, clinic equipment and contractor work vehicles. Partners review the asset and the business, decide and set every term.
| Pays for | Machines, clinic equipment, coolers, work vehicles |
|---|---|
| Structures | Loan, finance agreement, FMV lease, $1 buyout lease |
| Collateral | Usually the equipment itself |
| Contractor payrolls in Burleigh County, ND | 390 establishments (CBP 2023) |
| Decision | The lending partner's alone |
Paying for a machine: three paper trails
| Structure | Title holder while payments run | At the end | Fits when |
|---|---|---|---|
| Equipment loan | You, with a lien in the partner's favor | Lien released when paid | You plan to keep the asset for its whole life |
| Equipment finance agreement (EFA) | You, under a finance contract | Yours once paid | You want to own it, with a shorter contract than a loan |
| Lease | The lessor | Return, renew or buy it out | The equipment ages fast or you want lower payments |
Partners decide which structures they offer for a given asset. The name on the document matters less than three things it states: who owns the equipment, what you owe in total, and what happens at the end.
FMV lease or $1 buyout
A fair market value (FMV) lease lets you buy the equipment at the end for whatever it is worth then, return it, or renew. Payments are usually lower because you are not paying for the whole machine. A $1 buyout lease is priced to cover nearly the full cost, so payments are higher, and at the end you own the equipment for a nominal sum.
- Choose FMV when technology moves quickly, as with imaging or diagnostic gear, or when you expect to upgrade.
- Choose a $1 buyout when the machine will work for years after the term ends, as a well-kept excavator or skid steer often does.
- Either way, ask for the total of all payments plus the buyout, and compare that number, not the monthly figure.
Second-hand machines, pickups and service vans
Many partners finance used equipment, though they may shorten the term to match the machine's remaining life and ask for an inspection, photos or the serial number. Private-party sales take more paperwork than dealer sales, because the partner needs proof of title and that no lien is outstanding.
Contractor pickups, service vans and vehicles with a dump body or crane can often be financed as equipment. Slatemont does not arrange funding for trucking businesses.
Equipment that Burleigh County, ND businesses buy
Construction had more employer establishments than any other sector in Burleigh County in 2023: 390, of which 262 were specialty trade contractors such as electricians, plumbers and concrete crews (County Business Patterns 2023). Their purchases are loaders, compact excavators, trailers, lifts and work trucks.
Health care is the other big buyer. The county had 256 ambulatory health care employer establishments in 2023, including 52 dental offices and 34 physician offices. Their purchases are chairs, imaging, sterilization equipment and practice software.
Our excavator financing calculator estimates the monthly payment and total cost including the down payment for any machine price you enter. Three posts look closer: contractors buying equipment without starving cash flow, financing medical equipment for a Bismarck, ND practice and fitting out a downtown space.
What partners review
- The dealer's quote listing make, model, year and serial
- Recent statements from the business account, plus tax returns
- Years trading and the owner's credit history
- Existing liens, visible in a UCC search
- For used gear, the condition and remaining useful life
Our North Dakota UCC search guide shows how to check existing filings before you apply. The four steps explain what happens after the first call, and the Bismarck, ND page and sector pages put this in local context.
Machine-only financing versus a term loan
If the purchase is one identifiable asset, equipment financing usually fits better because the asset secures it. If you are buying a mix of equipment, installation and build-out work, a term loan may cover the whole project in one agreement.
By Slatemont Capital Group · Updated
