Solvent recycling machines are becoming increasingly popular among companies that use solvents in their operations. These machines offer numerous benefits. However, one of the key challenges that companies face is the initial cost of purchasing and installing a solvent recycling machine. This is where financing comes in. In this blog, let’s go over the top benefits of financing solvent recycling machines.
What is financing a solvent recycling machine all about?
Solvent recycling equipment financing is a payment arrangement that enables businesses to acquire solvent recycling and recovery equipment by paying in installments rather than paying the full amount upfront. This financing option provides more flexibility to companies with limited budgets, allowing them to make smaller monthly payments instead of a lump sum upfront.
With the rising costs of machinery and equipment over the past two years due to inflation, financing a recycler has become a practical option for many businesses.
What are the benefits of financing solvent recycling machines?
#1 – Enhanced Financial Planning
Financing offers enhanced budget management for businesses, as you can allocate your expenses effectively to accommodate future investments. By paying a smaller amount upfront, companies can use the saved money for other expenses, thereby furthering the development of their organization.
#2 – No Upkeep Expenses
Since the equipment is not owned directly by the business, there are no upkeep expenses or maintenance costs to worry about. Many businesses allocate a significant portion of their budget for the upkeep of their machinery and facilities, which can limit their future opportunities. With financing solvent recycling machines, organizations can explore new projects and business plans without worrying about these maintenance expenses.
#3 – Cost-effective Upgrades
Upgrading machinery is crucial in keeping up with technological advancements and maintaining competitiveness. However, purchasing new machinery can be costly, especially when new models are significantly more expensive than previous ones. With financing, upgrades are cost-effective as the company only needs to pay a slightly higher amount than its existing finance agreement. This eliminates the need to purchase multiple pieces of equipment and saves money by avoiding upfront costs.
Through a simple evaluation process, businesses can determine the potential savings on annual solvent purchasing, waste disposal, total savings, and the number of drums reduced per year. Renting solvent recycling equipment from a reputable dealer through financing allows for increased flexibility in future financial planning.
By opting for equipment financing instead of purchasing, companies can potentially save up to almost $250,000 annually on certain costs while reducing the number of drums used for waste operations by at least 500 drums per year.
In addition, financing solvent recycling machines and storing solvents on-site enables pharmaceutical companies to reduce expenses associated with toll processors who recover the solvents or contractors who incinerate them. It also eliminates the costs and potential liabilities associated with shipping hazardous chemicals offsite.
#4 – Waste Reduction
To minimize the generation of hazardous waste, it is in the best interest of any business to reduce waste as much as possible. On-site recycling is an effective solution to achieve this goal.
On-site recyclers operate at very high efficiencies, utilizing advanced technology and real-time monitoring to retrieve almost all of the original solvent. This not only provides a great return on waste solvent but it is also done in an environmentally responsible manner with minimal waste produced.
In addition, financing solvent recycling machines and on-site recycling reduces the amount of shipping involved in the recycling process, resulting in a decrease in greenhouse gas production. Transportation methods such as trains, trucks, and ships contribute significantly to greenhouse gas emissions, which is another form of unnecessary waste released into the environment. With increasing carbon taxes, companies will have to pay more to have their virgin solvent delivered.
The Bottom Line
Transitioning from equipment purchase to financing solvent recycling machines can provide multiple benefits that help your company save money and build a more flexible budget. Financing your equipment offers several advantages, including cost savings by avoiding outright equipment purchase, relief from maintenance fees, and the freedom to analyze various options for your industrial or manufacturing needs without making a deep level of commitment to purchase.