This page covers machine shop and metal fabrication loans for Lake County, Indiana shops: machines, steel, added shifts and second locations, with County Business Patterns counts and an invented example. Funding partners receive a shop's request from Fieldshore Loans and make their own call on terms.
At a glance
- Fabricated metal manufacturing
Fabricated metal product manufacturing (incl. machine shops) in Lake County, IN: 97 employer establishments (CBP 2023)
- Fabricated metal staff
Fabricated metal product manufacturing in Lake County, IN: 2,418 paid employees (CBP 2023)
- Fabricated metal payroll
Fabricated metal product manufacturing payroll in Lake County, IN: $180.1 million (CBP 2023)
- Manufacturing payroll
Manufacturing in Lake County, IN: $2.01 billion in payroll, second among sectors (CBP 2023)
Crown Point, IN Machine Shop Financing for Machine Shops Planning Welding Rigs
Machine shop financing for welding rigs, saws and fixtures is equipment financing sized to the dealer quote. Welding rigs on trucks for field work are equipment for the shop's own jobs, financed the same way.
Fixtures, jigs and tooling made or bought for a specific contract can be financed with the machine or covered by the line of credit that funds the contract.
CNC Machine Loan for Crown Point, IN Metal Fabricators
A CNC machine loan covers the machine, tooling, installation, rigging and any electrical work. Used CNC machines are financed too; their age, hours and condition shape the terms a partner offers, and an inspection report or dealer certification helps.
Metal Shop Loans: Added Shifts and Steel Purchases for Metal Fabricators
Metal shop loans for added shifts and steel purchases are working capital: the shop pays for steel and overtime before the customer pays the invoice. A line of credit drawn for each order and paid down when the invoice clears fits that pattern.
Added shifts bring overtime or new hires, and the wages for those shifts are paid weeks before the customer's invoice is. A line of credit sized to the shifts and the steel for a run of orders fits that pattern.
What Is a Machinery Loan? How Metal Fabricators in Crown Point, IN Can Think It Through
In plain terms, a machinery loan pays for a machine and uses that machine as its collateral. Metal fabricators can think of it in three questions: what the machine costs installed, how many hours of paid work it will run, and how long it will last. The answers set the amount, show whether the work pays for it, and suggest the term.
Rigging and moving a large machine into the shop, and the electrical work to power it, can be a meaningful part of the cost and belong in the quote.
How to Get a Loan for Machinery? Weighing It as a Lake County, IN Machine Shop
- A dealer quote with installation, tooling and training.
- Orders, contracts or a backlog report showing work for the machine.
- The shop's recent bank statements and its latest business tax return.
- For used machines, an inspection or certification.
Bring these to the first call at (219) 212-5273, or send the request form.
Used CNC Machine Financing When a Lake County, IN Machine Shop Needs Vertical Machining Centers
Vertical machining centers are among the larger purchases a Lake County, IN machine shop makes, new or used. Used CNC machine financing depends on the machine's condition and its resale value as collateral; a partner may ask for photos, hours and service records.
Shops replacing an older machine can trade it in or sell it, which reduces the amount to finance.
Fabricated Metal Product Manufacturing in Lake County, IN by the Numbers
Fabricated metal product manufacturing, the Census group that includes machine shops, had 97 employer establishments in Lake County, IN in 2023, with 2,418 paid employees and $180.1 million in annual payroll (County Business Patterns). Of those, 26 had fewer than five employees, and 13 had a ZIP 46307 address.
Manufacturing as a whole had 363 employer establishments in the county and paid $2.01 billion in wages, second only to health care and social assistance at $2.05 billion.
An Invented Plasma Table Purchase and a Steel Order, Funded Separately
Illustration only, invented figures: a shop buys a plasma table for $64,000 installed, financed over five years at an annual rate of 10%, for a payment of about $1,360 a month (our arithmetic, standard amortization).
The same shop buys $22,000 of steel for an order its customer pays 45 days after delivery. Drawn on a line of credit at an annual rate of 10% for those 45 days, the interest is about $271.23 (our arithmetic, balance times rate times days divided by 365). The table runs for years; the steel draw is repaid when the invoice clears.
Other trades sit on the industry list, and the Crown Point, IN page has ZIP 46307 sector counts. A one-time order gap fits a working capital loan, and machines fit equipment financing.
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