Southbend
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Mehmi Financial Group helps businesses finance and lease Southbend 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 Southbend units, from dealer purchases to private sales. Approval, rates and terms are set by each lender.
About Southbend
Southbend began in 1898 in South Bend, Indiana as the Malleable Steel Range Manufacturing Company, according to Southbend.
Southbend equipment
Southbend ranges, convection ovens and broilers are used in restaurants, hotels and institutional kitchens.
What lenders look at
Cooking equipment is underwritten on the restaurant's cash flow and the owner's credit, with gas hook-up and ventilation on the quote.
Financing Southbend equipment
Ranges are usually financed as part of a cook-line package.
How Southbend equipment financing works
Most Southbend 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 Southbend 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 Southbend models with financing pages
| Model | Type | Category |
|---|---|---|
| Southbend | Equipment | Restaurant |
| Southbend Commercial Range | Equipment | Restaurant |
| Southbend Platinum Restaurant Range | Equipment | Restaurant |
Tax treatment of Southbend 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 Southbend 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 Southbend equipment
Restaurant: independent restaurants, franchises, bakeries, caterers, ghost kitchens and food manufacturers finance Southbend 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 Southbend 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 Southbend range?
Yes, usually in a kitchen package.
When did Southbend start?
In 1898 in South Bend, Indiana.
Can installation be included?
Some lenders include it.
Can a hotel finance Southbend equipment?
Yes.
Can a new restaurant finance ranges?
Yes, often with a down payment.
Can I finance used ranges?
Some lenders will.
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