JLG has expanded its JLG Financial retail lending programme to cover a wider range of buyers including end-users and contractors as well as rental companies and distributors in the United States and Canada.
The programme offers financing for purchases of $3,000 or more on new or used equipment, including equipment from competitors as well as attachments, accessories and replacement parts. It also offers subsidised rates on purchases of new JLG and SkyTrak models.
The financing can be applied for through JLG Financial via a simple online application. Once an application is submitted for approval, customers can receive credit decisions via text, email or phone in 90 minutes or less in most cases. JLG Financial is working with several lending partners including LEAF Commercial Capital in the USA and CWB National Leasing in Canada.
Once approved, JLG can customise financing options and tailor payment structures with options such as balloon, seasonal or skip payments as well as loans, leases or lines of credit, buy-outs and step-up/step-down opportunities, to suit each applicant’s needs.
JLG finance manager Jonathan Oris said: “When the original retail lending program launched in Fall 2018, it was available exclusively through rental companies and equipment distributors in the US to support their customers’ purchases. Since then the programme has grown significantly, including the addition of Canadian lending in 2019. Today, it has evolved to offer various financing options, with industry leading rates directly to customers in North America. To date, we’ve processed 1,850 applications for more than 100 brands of equipment and 250 plus unique equipment models and attachments (new and used). Those applications have resulted in the funding of more than $100 million enabling customers to acquire the new and/or used equipment needed to run their business.”
“It is an unpredictable lending market right now with interest rates going up nearly every day. To help our customers get the best rates possible for their purchases, JLG Financial locks rates in for 30 days, publishing a fixed monthly rate card.”