True Manufacturing
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Mehmi Financial Group helps businesses finance and lease True Manufacturing 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 True Manufacturing units, from dealer purchases to private sales. Approval, rates and terms are set by each lender.
About True Manufacturing
In the 1940s, Bob, Frank and Art Trulaske built their first upright freezer in a St. Louis garage, according to True Manufacturing.
True Manufacturing equipment
True reach-ins, prep tables, bar coolers and merchandisers fill restaurants, convenience stores and grocery departments.
What lenders look at
Refrigeration lenders weigh the operator's sales history and credit; a single True cooler is a small ticket, so approval often rests on the owner more than the asset.
Financing True Manufacturing equipment
True units are usually rolled into a wider kitchen or store fit-out instead of being financed one at a time.
How True Manufacturing equipment financing works
Most True Manufacturing 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 True Manufacturing 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 True Manufacturing models with financing pages
| Model | Type | Category |
|---|---|---|
| True GDM-49 Merchandiser | Equipment | Restaurant |
| True Manufacturing | Equipment | Restaurant |
| True Refrigeration | Equipment | Restaurant |
| True T-49 Reach-in Refrigerator | Equipment | Restaurant |
Tax treatment of True Manufacturing 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 True Manufacturing 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 True Manufacturing equipment
Restaurant: independent restaurants, franchises, bakeries, caterers, ghost kitchens and food manufacturers finance True Manufacturing 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 True Manufacturing 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 True refrigeration?
Yes, often as part of a kitchen or store package.
Where did True start?
In a St. Louis garage in the 1940s.
Can a convenience store finance merchandisers?
Yes.
Can a startup restaurant finance True units?
Yes, usually with a down payment.
Can delivery and setup be included?
Some lenders include them.
Is leasing an option?
Yes.
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