Article

New loan program unlocks credit for ATM operators

March 16, 2012 by Suzanne Cluckey — Owner, Suzanne Cluckey Communications

The good news: Credit is now cheap in the U.S.

The bad news: Credit is now hard to get in the U.S.

What makes loans attractive at the moment also makes them elusive: Interest rates are currently so low that many banks are reluctant take a risk on for a small potential return. So despite an easing economic picture, the credit crunch persists.

In response to a tight-fisted credit market, ATMequipment.com has created its own Consumer Finance Program, partnering with a financial institution to help customers obtain the ATM-purchase funds they need. The program offers competitive financing to meet the needs of ATM operators whose aspirations for business growth may have been stymied by their inability to secure a loan.

"In today's market with the economy the way it is, people want another way to pay for machines," said Ryan Langton, sale manager at ATMequipment.com. "Banks are very reluctant to give loans out right now, so we came up with a new program."

Applicants who qualify for the loan program can obtain up to a $50,000 business line of credit that can be used to expand an ATM portfolio, replace aging machines and purchase the ATM components needed for greater efficiency or compliance — as with the newly implemented ADA regulations or expected EMV conversion.

The Consumer Finance Program credit line converts into a 36-month term loan with low monthly payments at a competitive interest rate. Loan processing is expedited with a simple, one page application form that can be downloaded from the ATMequiment.com website. Upon submission of the application the customer is contacted within 48 hours about loan approval.  

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About Suzanne Cluckey

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Suzanne’s editorial career has spanned three decades and encompassed all B2B and B2C communications formats. Her award-winning work has appeared in trade and consumer media in the United States and internationally.