2008Steadi-Newbies forum
Getting bank financing for steadicam equipment purchases
18 years old. Gear and prices may have changed since.
What the thread found
- Bring product brochures and specifications to show the bank what equipment you are purchasing, as it serves as collateral for the loan.
- Banks focus more on your existing workload and projected work capacity than on industry statistics when evaluating loan applications.
- Demonstrating that you can pay back the loan in a reasonable timeframe (such as 1.5 days of monthly work per month on a 3-year term) strengthens your application.
- Owner-operators who buy their own rigs typically experience natural increases in available work once they own equipment.
- Financing a complete package including accessories upfront can improve long-term cash flow better than purchasing items separately later.
- It is worth shopping multiple banks and comparing interest rates and loan terms, as these can differ significantly and may be negotiable.
- Having an existing business banking relationship and demonstrating past work experience in video production can help banks approve loans without additional scrutiny.
- Providing visual documentation such as photos and videos of steadicam equipment in use helps banks understand the investment.
Depends on
- Discussion is from 2008 and banking practices may have changed since then.
- Advice is specific to steadicam equipment financing and may not generalize to other types of equipment loans.
- Individual bank approval appears to depend heavily on the applicant's existing credit history and business relationships.