ABB
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Mehmi Financial Group helps businesses finance and lease ABB equipment, including robots, in Canada and the USA. As a brokerage, we compare options from banks, equipment finance companies and alternative lenders for new and used ABB units, from dealer purchases to private sales. Approval, rates and terms are set by each lender.
About ABB robotics
ABB pioneered the world's first commercial all-electric, microprocessor-controlled industrial robot in 1974, according to ABB. That robot, the IRB 6 from ASEA (now ABB), is recorded in the International Federation of Robotics history as the first fully electric, microprocessor-controlled industrial robot.
ABB robots on our list
Our list includes ABB IRB 4600 and IRB 6640 robots, used for welding, material handling, machine tending and palletizing in manufacturing plants.
How lenders view industrial robots
Robots are often financed as part of an automation cell with integration, tooling, guarding and software. Lenders review the full project cost, the integrator's quote, the business's financials and how the cell improves output or reduces labour costs.
Financing ABB robots
Integration and soft costs can sometimes be included, subject to lender approval. Some lenders also finance used robots, reviewing hours and controller generation.
How ABB equipment financing works
Most ABB purchases are financed with an equipment loan or a lease. A loan gives you ownership from day one, with the lender registering a security interest (PPSA in Canada, UCC in the USA). A lease keeps title with the lessor and can lower the monthly payment, with a buyout, renewal or return option at the end.
What lenders check on a ABB robot
Lenders look at the machine type, installation and tooling costs, and the contracts or production the equipment supports. Soft costs such as rigging and installation may be included, subject to lender approval.
Expect to provide a credit application, recent business bank statements, the dealer quote or bill of sale with serial number and age and usage, and financial statements or tax returns for larger amounts.
See the full list of eligible equipment, compare equipment financing options, or estimate payments with the equipment financing calculator.
All ABB models with financing pages
| Model | Type | Category |
|---|---|---|
| ABB IRB 4600 Robot | Robot | Manufacturing |
| ABB IRB 6640 Robot | Robot | Manufacturing |
| ABB Robotics | Equipment | Manufacturing |
Tax treatment of ABB equipment
In Canada, machinery used to manufacture or process goods has its own CCA classes (Class 43 and Class 53), and which one applies depends on the asset and purchase date. Confirm the class with your accountant. With a loan, you generally claim capital cost allowance and deduct interest. With a true operating lease, lease payments are generally deductible instead. See the CRA classes of depreciable property. In the USA, Section 179 and bonus depreciation may apply; see IRS Publication 946. Always confirm with your accountant.
End-of-term options on a ABB lease
A $1 buyout lease is built for ownership: you keep the machine for a nominal amount at the end. A fair market value lease usually has a lower payment, and at the end you can buy the equipment at its market value, return it or upgrade. Read the return conditions, such as hour limits and wear standards, before you sign.
Who finances ABB equipment
Manufacturing: fabricators, machine shops, plastics and packaging manufacturers, food processors and contract manufacturers finance ABB equipment to take on new work, replace aging units or add capacity.
The right structure depends on how the equipment earns money. A machine tied to a long contract can support a longer term, while seasonal work may call for skip or seasonal payments that some lenders offer.
Questions to ask the dealer or seller before you finance
- What is the exact model year, serial number and age and usage?
- Is there a service history or recent inspection report?
- Is any warranty or extended coverage included, and does it transfer?
- Are attachments, delivery, installation and taxes itemized on the quote?
- For a private sale, is the equipment free of liens, and who will provide the bill of sale?
Insurance on financed ABB equipment
Lenders and lessors require the equipment to be insured for its replacement or financed value, with the lender named as loss payee, before funding. Some also ask for liability coverage. Getting an insurance quote early avoids last-minute delays.
Frequently asked questions
Can I finance an ABB robot with integration costs?
Some lenders include integration, tooling and software when they are on the quote.
Can I finance a used ABB IRB robot?
Yes. Lenders review age, hours and controller generation.
Did ABB build the first electric industrial robot?
ABB says it pioneered the first commercial all-electric microprocessor-controlled robot in 1974.
What do lenders review for an automation project?
The full project cost, the integrator's quote and the business's financials.
Can a robot cell be leased?
Yes. Leases can spread the cost of automation projects.
Can several robots be financed together?
Yes. Lenders can finance a full automation line.
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