Cleaver-Brooks
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Mehmi Financial Group helps businesses finance and lease Cleaver-Brooks equipment, including manufacturing equipment, in Canada and the USA. As a brokerage, we compare options from banks, equipment finance companies and alternative lenders for new and used Cleaver-Brooks units, from dealer purchases to private sales. Approval, rates and terms are set by each lender.
About Cleaver-Brooks
Cleaver-Brooks was founded in 1929, when John C. Cleaver began making small portable boilers; he joined Raymond Brooks in 1931 and the company produced the world's first packaged boiler, according to Cleaver-Brooks. It introduced the first hydronic firetube boiler in the 1950s and today offers complete boiler room solutions, including ClearFire condensing boilers.
Cleaver-Brooks equipment on our list
Our list includes Cleaver-Brooks industrial boilers, used by manufacturers, food processors, hospitals, universities and commercial buildings for steam and hot water.
How lenders view boilers
Boilers are plant infrastructure, and installation is often a large share of the cost. Lenders review the quote (boiler, burner, controls, installation), the business's financials and energy savings from a replacement.
Financing Cleaver-Brooks equipment
Some lenders finance the full project including installation. Energy-efficiency upgrades may qualify for utility incentives in some provinces and states.
How Cleaver-Brooks equipment financing works
Most Cleaver-Brooks 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 Cleaver-Brooks manufacturing equipment
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 Cleaver-Brooks models with financing pages
| Model | Type | Category |
|---|---|---|
| Cleaver-Brooks | Equipment | Manufacturing |
| Cleaver-Brooks Industrial Boiler | Equipment | Manufacturing |
Tax treatment of Cleaver-Brooks 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 Cleaver-Brooks 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 Cleaver-Brooks equipment
Manufacturing: fabricators, machine shops, plastics and packaging manufacturers, food processors and contract manufacturers finance Cleaver-Brooks 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 Cleaver-Brooks 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 a Cleaver-Brooks boiler with installation?
Some lenders include installation, controls and burners on the quote.
Who invented the packaged boiler?
Cleaver-Brooks says it produced the world's first packaged boiler.
Are incentives available for efficient boilers?
Some utilities offer incentives. Check programs in your area.
Can a food processor finance a steam boiler?
Yes. Lenders review the business's financials and the project.
Can I finance a used boiler?
Some lenders will, based on condition and an inspection.
Can a boiler replacement be leased?
Yes. Leases can spread the cost of plant infrastructure.
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