Equipment Financing in the Coastal Bend

Equipment on a coast

The Coastal Bend curves along the Texas Gulf Coast, with Corpus Christi as its largest city. It includes Corpus Christi Bay, Aransas Bay, part of Laguna Madre, and barrier islands such as North Padre, Mustang and San José Island. Our grouping lists 14 counties, from Nueces and San Patricio to Victoria, Matagorda and Kleberg.

A machine bought for a coastal business lives in a harsher setting than one inland. Salt air and humidity are tough on metal and electronics, and storms can damage or strand a machine in a single event.

A coast-specific checklist

• Insurance: confirm what coverage applies to the equipment, including wind and flood. The Texas Windstorm Insurance Association is a not-for-profit insurer of windstorm and hail coverage for property owners who cannot get it in the regular market.
• Storage: where does it go before a storm?
• Maintenance: plan for corrosion protection.
• Timing: the Atlantic hurricane season runs June 1 to November 30; delivery during it carries risk.

Buying outside the season, if you can

A purchase made in December or February avoids both the busiest storm weeks and the summer rush. That matters most for seasonal businesses: a charter operator, a seafood restaurant or a vacation-rental service wants new equipment installed ahead of its peak, not in the middle of the hurricane window.

What if the equipment is lost?

Think through this before you buy, not after. If a storm destroys a machine, the payments on it may continue while the machine does not. Insurance is the usual answer, but claims take time, and in the interval the owner still pays for a machine that is not running. A cash reserve or a line available for the purpose is more useful than hoping.

Round numbers, for illustration only

These are illustrative, not our terms or typical results.

Keeping records that help after a bad event

Photograph and list every major piece of equipment, with serial numbers and purchase dates, and keep the file somewhere not on the premises. If a storm hits, an insurer will want exactly that, and a clear record speeds the claim and shortens the stretch when you pay for equipment you cannot use. It takes an afternoon, and it is one of the cheapest forms of protection a coastal owner has.

Applying

Funding runs from $25,000 to $5,000,000 and can be funded in as little as 24 hours once approved. The application takes about 5 minutes and uses a soft credit pull; sole proprietors can apply. Apply here.