Solon, Ohio-Based Stopol to Offer Financing for New & Used Plastics Processing Equipment
SOLON, Ohio--Solon, Ohio-based Stopol Inc. has launched Stopol Finance, adding equipment financing to its broad range of services.
Stopol is a full-service plastics industry resource that sells and services new and used equipment, provides auction and liquidation management, and offers appraisal services, and merger and acquisition consulting.
After 17 years in the plastics industry serving primarily as an equipment dealer, Stopol now can deliver cost-effective financing to its customers. Stopol Finance will offer prospective customers a variety of financing options, including:
- Operating or Fair Market Value Leases: At the end of the term, the purchaser has option to buy the equipment at fair market value.
- Accounts Receivable Financing: This allows customer to use their accounts receivables as collateral to fund up to 80% of a purchase.
- Small Business Association Loans
- Traditional Business Financing
- Lines of Credit
- Pre-Approval for Stopol Auctions
“With 75% of capital equipment being acquired through leasing agreements, it was just a natural progression for Stopol to begin offering financing,” said Stopol CEO Neil E. Kruschke, Jr. “This will help us grow our customer base by reaching audience segments that probably would not be in a position to acquire equipment without financing help.”
Stopol Finance is targeting customers with the following profiles:
- Customers looking to launch or start a new company.
- Customers with poor or risky credit.
- Customers that can only afford less expensive leasing payments.
- Customers at larger companies looking to avoid corporate approval and “hide” their capital equipment purchases by paying for them from their monthly operating budgets.
For more information on Stopol Finance or to secure financing, call Stopol at (440) 498-4000 or visit www.stopol.com.
About Stopol, Inc.
Headquartered in Solon, Ohio, Stopol is the plastics industry leader in providing solutions for processors’ production needs through its five lines of business -- Equipment Sales, Auctions, Liquidations, Appraisals and Business Services (merger and acquisition consulting). With the industry’s largest diverse inventory of equipment, Stopol allows manufacturers to add capacity and capabilities quickly and cost effectively. As the industry’s premier provider of auction and liquidation services, Stopol further enhanced its reputation as an industry innovator in 2004 when it created StopolAuctions L.L.C. and launched an interactive auction Web portal that allows a global audience to buy and sell new and used plastics equipment and other assets using their PCs. In addition, monthly contact with 30,000 customers and 17 years of purchasing data provide Stopol with unparalleled market intelligence that we leverage to our customers’ advantage.