Pitco
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Mehmi Financial Group helps businesses finance and lease Pitco 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 Pitco units, from dealer purchases to private sales. Approval, rates and terms are set by each lender.
About Pitco
Pitco was founded in 1918 as J.C. Pitman and Sons, where the Pitco Frialator fryer was invented and patented, according to Pitco. Pitco is a Middleby brand and manufactures in New Hampshire.
Pitco equipment
Pitco fryers are standard in restaurants, chains and institutional kitchens, and its TorQ fryer combines forced convection with continuous filtration.
What lenders look at
For fryers, a lender mostly underwrites the restaurant: deposits in recent bank statements, how long it has operated and the owner's credit.
Financing Pitco equipment
Fryers are usually bundled with the rest of the cook line when a kitchen opens or remodels.
How Pitco equipment financing works
Most Pitco 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 Pitco 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 Pitco models with financing pages
| Model | Type | Category |
|---|---|---|
| Pitco | Equipment | Restaurant |
| Pitco SE14 Frialator | Equipment | Restaurant |
| Pitco SG18 Frialator | Equipment | Restaurant |
Tax treatment of Pitco 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 Pitco 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 Pitco equipment
Restaurant: independent restaurants, franchises, bakeries, caterers, ghost kitchens and food manufacturers finance Pitco 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 Pitco 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 Pitco fryers?
Yes, usually with other line equipment.
When was Pitco founded?
In 1918.
Where are Pitco fryers made?
In New Hampshire.
Is Pitco a Middleby brand?
Yes.
Can a franchise finance fryers for several locations?
Yes.
Can installation be included?
Some lenders include installation.
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