Floor plan financing from Mitsubishi Bank

FIRSTGREEN Industries US now offers diverse financing options, mainly through the floor-plan solution by Mitsubishi bank, or via direct equipment financing from Stearns Bank.
Both of these options are supported or subsidized by FGI US, to provide financing and the best possible solution for our dealers.

Floor-plan financing:

This option is a three way deal between FGI, the dealer and Mitsubishi Bank.

When our dealers qualify for the financing after a credit-check, Mitsubishi bank provides the financing to the dealer.
As soon as an invoice from FGI is generated for new equipment, it is covered in full by the bank.

One of the requirements for this financing option is that the machines are domiciled on US soil, i.e. the purchase has to go through the FGI US North Carolina warehouse. 
As FGI posts collateral with the bank, it can also opt to cover the dealers’ interest for a set period of time (6 months maximum), giving the dealer easier access to purchasing more equipment.

Overall, the floor-plan financing gives the dealer the opportunity to purchase FGI machines with no immediate risk to their cash-flow and reserves, giving them the chance to move the inventory within the pre-approved grace period. 

Novel Equipment Financing:

Provided by Stearns Bank, this financing option is a standard two-way partnership between the dealer and the bank.
Stearns bank offers a novel equipment financing option, with only a 4% flat fee, with up to 180 days of zero payments (no interest or principle). 

This 4% payment is a front-loaded fee, meaning it costs the dealer the same amount regardless of when they sell the machine (day 2 or day 180)
FGI US also offers a 50% subsidy, as Stearns bank charges 4% to originate the loan, FGI pays 2%.

Both options are now available for our US dealers, and you can enquire for more information with our US sales team.
Call Joe Schinasi at (323) 377-9433, or via email at joe.schinasi@firstgreenindustries.com