Hobart
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Mehmi Financial Group helps businesses finance and lease Hobart equipment, including restaurant equipment, in Canada and the USA. As a brokerage, we compare options from banks, equipment finance companies and alternative lenders for new and used Hobart units, from dealer purchases to private sales. Approval, rates and terms are set by each lender.
About Hobart
Hobart has made commercial kitchen equipment since 1897 and was founded in Troy, Ohio, according to Hobart. It was founded by Clarence Charles Hobart, according to Culinary Depot, and is known for dishwashers, mixers, slicers and food-prep equipment.
Hobart equipment
Hobart dishwashers and mixers are used by restaurants, hotels, schools, hospitals and bakeries.
How lenders view foodservice equipment
Kitchen equipment is financed mainly on the business's cash flow. Lenders review bank statements, time in business, the quote and installation.
Financing Hobart equipment
Dishwashers and mixers are often financed with other kitchen equipment. Institutions may finance several units together.
How Hobart equipment financing works
Most Hobart 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 Hobart restaurant equipment
Lenders look at the business cash flow, the location, and installation and ventilation costs. Commercial kitchen equipment is often financed as a package with installation.
Expect to provide a credit application, recent business bank statements, the dealer quote or bill of sale with serial number and age, 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 Hobart models with financing pages
| Model | Type | Category |
|---|---|---|
| Hobart | Equipment | Restaurant |
| Hobart A200 Legacy Mixer | Equipment | Restaurant |
| Hobart AM15 Dishwasher | Equipment | Restaurant |
| Hobart Commercial Equipment | Equipment | Restaurant |
| Hobart FT900 Dishwasher | Equipment | Restaurant |
| Hobart HL300 Commercial Mixer | Equipment | Restaurant |
| Hobart Legacy HL600 Mixer | Equipment | Restaurant |
Tax treatment of Hobart equipment
In Canada, the CCA class depends on the asset and how it is used. Your accountant can confirm the right class. 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 Hobart 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 Hobart equipment
Restaurant: independent restaurants, franchises, bakeries, caterers, ghost kitchens and food manufacturers finance Hobart 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?
- 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 Hobart 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 Hobart dishwasher?
Yes. Lenders review your cash flow and the quote.
How old is Hobart?
Hobart has made commercial kitchen equipment since 1897.
Can a bakery finance a Hobart mixer?
Yes. Lenders review the bakery's financials.
Can installation be included?
Some lenders include installation.
Can a school or hospital finance Hobart equipment?
Yes. Lenders review the organization's financials.
Can a new restaurant finance Hobart equipment?
Yes, often with a down payment or guarantor.
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