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Program updated: June 3, 2024
Equipment finance programs are subject to completed
application and credit approval process.
The iGage extended finance program features a simple application,
intuitive easy-to-understand documentation. It is underwritten by our
long-term, bank affiliated partner
First Western Equipment Finance.
First Western Equipment Finance is a national equipment financing and
leasing lender.
Formerly Advanced Acceptance; First Western Equipment Finance is
a division of First Western Bank & Trust in Eden Prairie Minnesota.
The [ application
] is a single page and typically takes only a few hours for approval.
The program, application process and contracts are designed to be intuitive
and easy-to-understand.
We do what we say we will do with no gimmicks or hidden terms.
We want to be your long-term partners, not just for one purchase
but for all your future survey equipment needs.
iGage 10-24 3.99% Program Description (updated April
18, 2024)
The program is simple:
10% Down payment; $150 Application/Document Fee, 24-Monthly Payments,
3.99% APR Financing;
For example if you purchase an $16,725 complete i89, iBase pair,
TripleTek9Pro with LandStar8 field collection software:
$ 16,725.00 Total Equipment Cost
$ 1,822.50 Down payment (includes $150 document
fee)
$ 653.61 per month for 24-months ($ 16,725.00
* 0.03908)
$ 15,686.71 Total of 24 Monthly Payments
$ 17,509.21 Monthly Payments + Down payment
$ 784.21 Total
Finance Charge + Interest payment
The Total Equipment Cost will include Sales
Tax.
The Document Fee is $150.
The Down Payment is 10%: $16,725 * 10% + $150 = $1,672.50 + $150
= $ 1,822.50
The Rate Factor is 0.03908: $16,725 * 0.03908 = $653.61 / month.
There is an initial Down Payment, then one month later the first
of 24 Monthly Payments is due.
Because the first monthly payment is not due until 1-month after
the 10% down payment, this program lasts 25-months total.
The interest rate is 3.99% APR.
The final/total additional cost of financing including the document
fee is $784.21; which is $31.37 per month. This is 4.68% of the
equipment cost.
You can pay off the agreement at anytime.
There is a $5,000 finance minimum.
Hardware (like robotic total stations, GNSS receivers and accessories),
Field Software (like X-PAD, LandStar8) and desktop Software (like
Carlson Survey Desktop) can be financed.
This program is a reported commercial credit transaction and may
help you establish credit for a new business.
We offer flexible lease terms and equipment finance programs designed
to help you succeed: your needs come first. In addition to the
standard program, we also offer $1.00 buyout leases, deferred payment
programs and seasonal payment programs.
We can help you improve cash flow, you can avoid big down payments,
and you can get 90% financing. In addition, our leasing and finance
programs are usually faster and easier than bank financing. This program
may provide you with tax benefits (consult with your accountant to confirm
benefits.)
EFA / Leasing Insurance Requirements
Insurance is required for the term of extended financing:
Property Insurance for the value of the equipment naming FWEF
as the 'Loss Payee'
General Public Liability Insurance naming FWEF as 'Additionally
Insured' on leases.
We strongly recommend that you insure all of the equipment that your
business needs to be productive with 'Named Equipment Insurance' sometimes
known as 'Inland
Marine'.
Ask your insurance partner if the equipment will be covered if:
It is stolen from a locked pickup truck
It is stolen from an unlocked pickup truck
It is stolen while setup on a job
It is stolen from a hotel room
It is on a job site and is backed over by an earthmover
It is stolen from your office
Equipment loss due to theft is a real issue, you should never be
in a position where the loss of an instrument that you are still financing
will destroy your practice.
The Process
1. We can help you determine the equipment you wish to purchase
and provide you with a firm price quotation including delivery costs.
Let us know that you are interested in extended financing and we
will provide a short application form with the written quotation.
2. Compete the application, sign it and fax or email it to the
fax-number/email-address at the top of the application. Include
a copy of the quotation that you want to accept.
3. Upon approval, you will receive lease documents for completion.
Return the documents and your equipment will usually ship within
a day!
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