Ingersoll Rand
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Mehmi Financial Group helps businesses finance and lease Ingersoll Rand equipment, including compressors, in Canada and the USA. As a brokerage, we compare options from banks, equipment finance companies and alternative lenders for new and used Ingersoll Rand units, from dealer purchases to private sales. Approval, rates and terms are set by each lender.
About Ingersoll Rand
Today's Ingersoll Rand was formed on February 29, 2020, when Gardner Denver Holdings completed its merger with Ingersoll-Rand plc's Industrial segment. Ingersoll Rand makes compressors, vacuum systems, pumps and power tools.
Ingersoll Rand equipment
Ingersoll Rand rotary screw compressors and pumps are used by manufacturers, shops and industrial plants.
How lenders view compressors
Industrial compressors are plant infrastructure. Lenders review the compressor's size and age, installation (piping, dryers, receivers) and the business's financials.
Financing Ingersoll Rand equipment
Installation can sometimes be included. Energy-efficiency upgrades may qualify for utility rebates.
How Ingersoll Rand equipment financing works
Most Ingersoll Rand 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 Ingersoll Rand compressor
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 Ingersoll Rand models with financing pages
| Model | Type | Category |
|---|---|---|
| Ingersoll Rand | Equipment | Manufacturing |
| Ingersoll Rand R Series Rotary Compressor | Compressor | Manufacturing |
| Ingersoll Rand SSR UP6-25 Compressor | Compressor | Manufacturing |
Tax treatment of Ingersoll Rand 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 Ingersoll Rand 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 Ingersoll Rand equipment
Manufacturing: fabricators, machine shops, plastics and packaging manufacturers, food processors and contract manufacturers finance Ingersoll Rand 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 Ingersoll Rand 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 Ingersoll Rand compressor?
Yes. Lenders review the compressor, installation and financials.
How was today's Ingersoll Rand formed?
Through the 2020 merger of Gardner Denver and Ingersoll-Rand's Industrial segment.
Can installation be included?
Some lenders include piping, dryers and installation.
Are rebates available for efficient compressors?
Some utilities offer rebates.
Can I finance a used compressor?
Yes. Lenders review hours and service history.
Can a shop finance compressors with other equipment?
Yes. Many lenders finance packages.
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